Market Overview:
The global luxury chocolate market is expected to grow at a CAGR of 5.8% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for premium chocolates, especially in developed countries. In terms of type, dark chocolate is expected to lead the global luxury chocolate market with a share of more than 50% by 2030. This can be attributed to its growing popularity among consumers for its health benefits such as improving heart health and reducing stress levels. In terms of application, supermarkets and hypermarkets are expected to dominate the global luxury chocolate market with a share of more than 35%. This can be attributed to the rising trend among consumers for convenience foods and increasing disposable incomes in developing countries.
Product Definition:
Luxury chocolate is a type of chocolate that is considered to be high-quality and expensive. It is often made with premium ingredients, such as rich cocoa butter and pure cane sugar. Luxury chocolate can be used for eating or baking purposes.
Dark Cholocate:
Dark cholocate is a type of chocolate containing higher percentage of cocoa content as compared to other types. It has a higher melting point and thus remains firm even when heated, which gives it the name dark chocolates have more flavor than normal ones due to the high proportion of cocoa content in them. The growth factor for this market is increasing demand from developed markets such as U.S.
White and Milk Premium Chocolate:
White and milk premium chocolate is a type of chocolate that contains no cocoa solids, it has very low percentage of cocoa. It's produced by adding whole milk powder or powdered white sugar to melted chocolate. The end result is a smooth and creamy confectionery product with an airy texture similar to mousse.
It was created in Switzerland in the early 1900s as an alternative for people who could not afford expensive dark chocolates made from solid blocks of cocoa beans.
Application Insights:
The supermarkets and hypermarkets segment led the global luxury chocolate market in 2017. This is attributed to growing demand for premium products from a wide range of consumers, including chefs and foodies, who are increasingly demanding exotic flavors and rich aromas in their daily meals. The independent retailers segment is expected to register the fastest CAGR of XX% over the forecast period owing to an increase in product launches by prominent players such as Godiva Chocolate into smaller packs that can be sold at lower prices compared to its original packaging.
Specialist retailers have also been witnessing significant growth due to increasing consumer spending on experiences such as gourmet tours, cooking classes.
Regional Analysis:
North America dominated the global market in 2017. The U.S., in particular, is one of the largest consumers of luxury chocolates as it has a large number of high-net-worth individuals (HNWIs). According to an article published by MarketWatch, there are around 5 million HNWIs in the country and they spend on average USD X per year on chocolate. Moreover, with Valentine’s Day just round the corner, demand for luxury chocolates will increase further driving growth over next few years.
Asia Pacific is expected to be one of fastest growing markets at a CAGR exceeding 6% from 2018 to 2030 owing to increasing disposable income coupled with rising popularity for these products among young consumers especially females working professionals looking for energy boosts and stress relief from hectic work life balance scenario chocolate plays an important role as it represents taste.
Growth Factors:
- Increasing disposable income of consumers in developing countries is expected to drive the growth of luxury chocolate market.
- Rising demand for premium chocolates from young population is another major factor that would fuel the growth of this market during the forecast period.
- Growing popularity of chocolate as a gifting option is also anticipated to boost the demand for luxury chocolates in near future.
- Proliferation of online retail channels is providing new opportunities for players operating in this market and would help them to reach out wider audience base across the globe.
- increasing focus on health and wellness among consumers is likely to create new opportunities for players operating in luxury chocolate market over next few years
Scope Of The Report
Report Attributes
Report Details
Report Title
Luxury Chocolate Market Research Report
By Type
Dark Cholocate, White and Milk Premium Chocolate
By Application
Supermarkets and Hypermarkets, Independent Retailers, Convenience Stores, Specialist Retailers, Online Retailers
By Companies
Godiva, Hotel Chocolat, Prestat, Lindt & Sprugli, Guylian, Artisan du Chocolat, Montezuma, Bettys, Maison Pierre Marcolini, Fifth Dimension
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
168
Number of Tables & Figures
118
Customization Available
Yes, the report can be customized as per your need.
Global Luxury Chocolate Market Report Segments:
The global Luxury Chocolate market is segmented on the basis of:
Types
Dark Cholocate, White and Milk Premium Chocolate
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
Supermarkets and Hypermarkets, Independent Retailers, Convenience Stores, Specialist Retailers, Online Retailers
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:
- Godiva
- Hotel Chocolat
- Prestat
- Lindt & Sprugli
- Guylian
- Artisan du Chocolat
- Montezuma
- Bettys
- Maison Pierre Marcolini
- Fifth Dimension
Highlights of The Luxury 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:
- Dark Cholocate
- White and Milk Premium Chocolate
- By Application:
- Supermarkets and Hypermarkets
- Independent Retailers
- Convenience Stores
- Specialist Retailers
- Online Retailers
- 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 Luxury 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?
Luxury chocolate is a type of chocolate that is made with high-quality ingredients and has a higher price tag. It may be made with more expensive cocoa beans, or it may be flavored with rare spices or other ingredients.
Some of the key players operating in the luxury chocolate market are Godiva, Hotel Chocolat, Prestat, Lindt & Sprugli, Guylian, Artisan du Chocolat, Montezuma, Bettys, Maison Pierre Marcolini, Fifth Dimension.
The luxury chocolate market is expected to grow at a compound annual growth rate of 5.8%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Luxury 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 Luxury Chocolate Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Luxury 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 Luxury 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 Luxury Chocolate Market Size & Forecast, 2018-2028
4.5.1 Luxury Chocolate Market Size and Y-o-Y Growth
4.5.2 Luxury Chocolate Market Absolute $ Opportunity
Chapter 5 Global Luxury Chocolate 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 Luxury Chocolate Market Size Forecast by Type
5.2.1 Dark Cholocate
5.2.2 White and Milk Premium Chocolate
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Luxury Chocolate 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 Luxury Chocolate Market Size Forecast by Applications
6.2.1 Supermarkets and Hypermarkets
6.2.2 Independent Retailers
6.2.3 Convenience Stores
6.2.4 Specialist Retailers
6.2.5 Online Retailers
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Luxury 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 Luxury 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 Luxury Chocolate Analysis and Forecast
9.1 Introduction
9.2 North America Luxury Chocolate 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 Luxury Chocolate Market Size Forecast by Type
9.6.1 Dark Cholocate
9.6.2 White and Milk Premium Chocolate
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 Luxury Chocolate Market Size Forecast by Applications
9.10.1 Supermarkets and Hypermarkets
9.10.2 Independent Retailers
9.10.3 Convenience Stores
9.10.4 Specialist Retailers
9.10.5 Online Retailers
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 Luxury Chocolate Analysis and Forecast
10.1 Introduction
10.2 Europe Luxury Chocolate 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 Luxury Chocolate Market Size Forecast by Type
10.6.1 Dark Cholocate
10.6.2 White and Milk Premium Chocolate
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 Luxury Chocolate Market Size Forecast by Applications
10.10.1 Supermarkets and Hypermarkets
10.10.2 Independent Retailers
10.10.3 Convenience Stores
10.10.4 Specialist Retailers
10.10.5 Online Retailers
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 Luxury Chocolate Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Luxury Chocolate 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 Luxury Chocolate Market Size Forecast by Type
11.6.1 Dark Cholocate
11.6.2 White and Milk Premium Chocolate
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 Luxury Chocolate Market Size Forecast by Applications
11.10.1 Supermarkets and Hypermarkets
11.10.2 Independent Retailers
11.10.3 Convenience Stores
11.10.4 Specialist Retailers
11.10.5 Online Retailers
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 Luxury Chocolate Analysis and Forecast
12.1 Introduction
12.2 Latin America Luxury Chocolate 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 Luxury Chocolate Market Size Forecast by Type
12.6.1 Dark Cholocate
12.6.2 White and Milk Premium Chocolate
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 Luxury Chocolate Market Size Forecast by Applications
12.10.1 Supermarkets and Hypermarkets
12.10.2 Independent Retailers
12.10.3 Convenience Stores
12.10.4 Specialist Retailers
12.10.5 Online Retailers
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) Luxury Chocolate Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Luxury Chocolate 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) Luxury Chocolate Market Size Forecast by Type
13.6.1 Dark Cholocate
13.6.2 White and Milk Premium Chocolate
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) Luxury Chocolate Market Size Forecast by Applications
13.10.1 Supermarkets and Hypermarkets
13.10.2 Independent Retailers
13.10.3 Convenience Stores
13.10.4 Specialist Retailers
13.10.5 Online Retailers
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 Luxury Chocolate Market: Competitive Dashboard
14.2 Global Luxury Chocolate Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Godiva
14.3.2 Hotel Chocolat
14.3.3 Prestat
14.3.4 Lindt & Sprugli
14.3.5 Guylian
14.3.6 Artisan du Chocolat
14.3.7 Montezuma
14.3.8 Bettys
14.3.9 Maison Pierre Marcolini
14.3.10 Fifth Dimension
