Market Overview:
The global hot chocolate market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in the market can be attributed to factors such as rising demand for flavored hot chocolate, increasing disposable income, and growing awareness about the health benefits of consuming hot chocolate. Based on type, the global hot chocolate market can be segmented into original taste and flavor taste. The original taste segment is further sub-segmented into dark, milk, and white hot chocolate. The flavor taste segment is further sub-segmented into vanilla, caramel, mocha latte etc. Among these segments, the flavor taste segment is expected to witness higher growth during the forecast period owing to increasing demand for flavored variants of hot chocolate among consumers across regions. Based on application, the globalhot cocoa market can be divided into supermarket/hypermarket channel; ecommerce channel; foodservice channel (cafes/restaurants); and others (including convenience stores/petrol stations).
Product Definition:
Hot chocolate is a beverage made from chocolate and milk. It is typically served hot, although it can also be iced.
Original Taste:
The global hot chocolate market size was valued at USD 2.05 billion in 2015 and is expected to grow at a CAGR of XX% over the forecast period on account of increasing consumer demand for premium products with unique taste and flavor. Increasing awareness regarding the health benefits associated with consumption of organic, natural, and specialty ingredients-based products has led to an increase in their application across various industries including food & beverage, pharmaceuticals, personal care & cosmetics among others.
Flavor Taste:
Flavor taste is the distinctive taste of a product which is caused by chemical and physical properties of ingredients used in its preparation. It can be detected in all types of food products including dairy, bakery, meat, poultry and seafood as well as beverages like tea & coffee.
The hot chocolate market has been witnessing significant growth over the past few years on account of increasing demand for ready-to-drink beverages among consumers across the globe.
Application Insights:
The others application segment includes cafes, restaurants and hotels. The demand for the product in this segment is expected to witness a CAGR of XX% from 2018 to 2030 owing to the growing preference for premium and unique flavored products among consumers globally. Moreover, retailers are increasingly using social media marketing campaigns that target key demographic groups with specific objectives such as attracting more customers through discounts or offers on purchase of specified products followed by personalized recommendations based on past purchases made by consumers via their mobile phones or computers. This approach has helped retailers reach out directly to their preferred customer base without spending huge advertising budgets on television or other conventional media channels which have limited reach compared with digital platforms such as e-commerce and social media marketing tools.
Regional Analysis:
North America dominated the global market in 2017. The U.S., in particular, is one of the largest consumers of hot chocolate owing to its geographical location and high consumption of cocoa products. Moreover, increasing demand for ready-to-drink beverages has been driving the regional market over the past few years.
Asia Pacific is expected to be one of fastest growing markets due to rising consumer awareness regarding health benefits associated with dark chocolate and premiumization across various countries such as China, India, Japan, South Korea and Indonesia among others will drive product sales over next eight years or so.
Growth Factors:
- Increasing demand for hot chocolate in developing countries as a result of rising disposable incomes and changing lifestyles.
- Growing popularity of artisanal and premium hot chocolate products, especially among millennials.
- Rising demand for healthy, low-calorie hot chocolate drinks made with natural ingredients and sweeteners.
- Increasing use of hot chocolate as an ingredient in food products and beverages such as cakes, ice cream, smoothies etc.
- Proliferation of coffee shops and other outlets that serve specialty hot chocolate drinks
Scope Of The Report
Report Attributes
Report Details
Report Title
Hot Chocolate Market Research Report
By Type
Original Taste, Flavor Taste
By Application
Supermarket, Hypermarket, E-commerce, Others
By Companies
Nestle, Starbucks, Swiss Miss, The Hershey Company, W.T.Lynch Foods, GODIVA Chocolatier, Cadbury, Land O'Lakes, Chocomize, Chek Hup Sdn. Bhd., Nestle
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
228
Number of Tables & Figures
160
Customization Available
Yes, the report can be customized as per your need.
Global Hot Chocolate Market Report Segments:
The global Hot Chocolate market is segmented on the basis of:
Types
Original Taste, Flavor Taste
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Supermarket, Hypermarket, E-commerce, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Nestle
- Starbucks
- Swiss Miss
- The Hershey Company
- W.T.Lynch Foods
- GODIVA Chocolatier
- Cadbury
- Land O'Lakes
- Chocomize
- Chek Hup Sdn. Bhd.
- Nestle
Highlights of The Hot Chocolate Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Original Taste
- Flavor Taste
- By Application:
- Supermarket
- Hypermarket
- E-commerce
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Hot Chocolate Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Hot chocolate is a beverage made from chocolate and milk.
Some of the key players operating in the hot chocolate market are Nestle, Starbucks, Swiss Miss, The Hershey Company, W.T.Lynch Foods, GODIVA Chocolatier, Cadbury, Land O'Lakes, Chocomize, Chek Hup Sdn. Bhd., Nestle.
The hot chocolate market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Hot Chocolate Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Hot Chocolate Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Hot Chocolate Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Hot Chocolate Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Hot Chocolate Market Size & Forecast, 2020-2028
4.5.1 Hot Chocolate Market Size and Y-o-Y Growth
4.5.2 Hot Chocolate Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Original Taste
5.2.2 Flavor Taste
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Supermarket
6.2.2 Hypermarket
6.2.3 E-commerce
6.2.4 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Hot Chocolate Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Hot Chocolate Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Original Taste
9.6.2 Flavor Taste
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Supermarket
9.10.2 Hypermarket
9.10.3 E-commerce
9.10.4 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Original Taste
10.6.2 Flavor Taste
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Supermarket
10.10.2 Hypermarket
10.10.3 E-commerce
10.10.4 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Original Taste
11.6.2 Flavor Taste
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Supermarket
11.10.2 Hypermarket
11.10.3 E-commerce
11.10.4 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Original Taste
12.6.2 Flavor Taste
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Supermarket
12.10.2 Hypermarket
12.10.3 E-commerce
12.10.4 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Original Taste
13.6.2 Flavor Taste
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Supermarket
13.10.2 Hypermarket
13.10.3 E-commerce
13.10.4 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Hot Chocolate Market: Competitive Dashboard
14.2 Global Hot Chocolate Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Nestle
14.3.2 Starbucks
14.3.3 Swiss Miss
14.3.4 The Hershey Company
14.3.5 W.T.Lynch Foods
14.3.6 GODIVA Chocolatier
14.3.7 Cadbury
14.3.8 Land O'Lakes
14.3.9 Chocomize
14.3.10 Chek Hup Sdn. Bhd.
14.3.11 Nestle
