Chocolates Containing Alcohol Market 2024-2028
The Chocolates Containing Alcohol Market size is projected to increase by USD 173.03 million and the market size is estimated to grow at a CAGR of 5.34% between 2023 and 2028.
This chocolates containing alcohol market report extensively covers market segmentation by distribution channel (offline and online), type (wafers, blocks, liquid, and chips), and geography (Europe, North America, APAC, South America, and Middle East and Africa). Our report examines historical data from 2018 - 2022, besides analyzing the current market scenario.
Increasing marketing activities among players is the key factor driving market growth. To increase the sales of chocolates, various marketing strategies, such as advertising and marketing campaigns, are used by players. New promotional activities make the offerings more appealing and relatable for consumers. Market players also target retailers using promotional activities and community participation to increase their awareness and preference for their brands and offerings. Consequently, retailers and consumers are targeted using new marketing activities, such as advertising, word-of-mouth promotions, experiential campaigns, competitions, and rewards on product purchases to increase sales. Hence, the increasing marketing activities among players are expected to drive the growth of the market during the forecast period.
Chocolates Containing Alcohol Market: Overview
The Chocolates Containing Alcohol Market shows an Accelerated CAGR during the forecast period.
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Trends
The rising trend of premiumization in the chocolate industry is the primary trend shaping market growth. Prominent market players of premium chocolates, such as Ferrero International SA and Compagnie du Bois Sauvage SA, have started positioning their products as gift items and premium chocolates that contain alcohol are an attractive gifting option on special occasions. Furthermore, many major and medium-sized players in the confectionery sector globally have started launching their own range of premium chocolates to attract consumers who are greatly influenced by price, packaging, ingredients, authenticity, provenance, and brand experience.
Furthermore, market players such as Ferrero International SA and Prestat Ltd. have emerged as forerunners in the premium chocolate category as these players offer special chocolates containing alcohol for various occasions. Thus, the rising trend of premiumization in the chocolate industry is expected to positively affect the growth of the global chocolates-containing alcohol market during the forecast period.
Challenge
Low awareness of chocolates containing alcohol in developing countries is a challenge that affects market growth. Chocolates containing alcohol are mostly sold in most developed countries, such as the US. However, their penetration in developing countries, especially in tier-2 and tier-3 cities in developing countries, is low. Furthermore, developing countries face challenges such as the lack of awareness about the availability of different types of premium chocolates and the low purchasing power of consumers to spend on premium confectionery products such as chocolates containing alcohol.
Furthermore, in various other developing nations, the lack of awareness and low demand for confectionery products restrict both the production and adoption of such products. Therefore, before entering the market, market players must educate people about the benefits and health advantages of chocolates containing alcohol. Thus, the low awareness and lack of penetration in developing countries are expected to impede the growth of the market during the forecast period.
Chocolates Containing Alcohol Market Segmentation by Type
The wafers segment is expected to grow significantly in the global chocolates containing alcohol market in the next five years. Chocolate wafers are flat, circular pieces of chocolate that are typically prepared using premium chocolate. They are preferred by consumers owing to their versatility in the confectionery industry. It has been demonstrated that chocolate and alcohol both have mood-enhancing properties. Moderate alcohol consumption helps induce endorphin release and relaxation. Furthermore, a number of compounds found in chocolate increase the synthesis of serotonin, a neurotransmitter linked to emotions of happiness and well-being. Hence, the growing demand for mood-enhancement confectioneries is expected to fuel the growth of the wafers segment, thereby driving the growth of the market during the forecast period.
Chocolates Containing Alcohol Market Segmentation by Distribution Channel
The market share growth by the offline segment will be significant during the forecast period. The offline distribution channel generates revenue from the sales of products through specialty stores; hypermarkets, supermarkets, and convenience stores; independent retailers; and clubhouse stores. Players are opening new stores in local and regional markets to fuel sales through offline channels. They are selling their products through specialty stores and other retail formats. As a result, the competition in the market is intensifying.
The offline segment was valued at USD 426.70 million in 2018.
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The growth of the organized retail sector in developed and developing economies can be attributed to the growing popularity of supermarkets and hypermarkets as distribution channels. Furthermore, the rising number of international and domestic travelers, changing lifestyles, expanding world population, and the rising per-capita income of consumers have fostered the sales of such confectionery products in duty-free retail shops. Thus, the offline segment is expected to grow at a rapid rate in the market during the forecast period.
Key Regions for the Chocolates Containing Alcohol Market
Europe is estimated to contribute 40% to the growth of the global market during the forecast period
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Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Germany, the UK, France, Italy, Spain, and the Netherlands are some of the key countries contributing to the growth of the chocolates containing alcohol market in Europe. The growth of the chocolates containing alcohol market in Europe is mainly driven by the rising demand for confectionery products from consumers in the region, coupled with the rapid production of a wide variety of alcoholic beverages, including wines and spirits.
Furthermore, market players are focusing on developing new varieties of chocolates containing alcohol but with low sugar content. The increasing number of product innovations is further expected to be the primary factor driving the highly fragmented and competitive chocolate market in Europe during the forecast period.
Company Overview
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
- Key Offering- ABTEY Chocolaterie SAS: The company offers chocolates containing alcohol under the product segment liqueur chocolatess.
- Key Offering- Chocoladefabriken Lindt and Sprungli AG: The company offers chocolates containing alcohol under the brand Lindt.
- Key Offering- Kakoa: The company offers liqueur chocolates such as nougat, praline, and others.
The chocolates containing alcohol market report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
- Asbach GmbH
- Charbonnel et Walker Ltd.
- Chocolate Fetish
- Confiserie Leonidas SA
- Ferrero International S.A.
- J.G. Niederegger GmbH and Co. KG
- Jacques Torres Chocolate
- Lotte Corp.
- McCreas Candies
- Oy Karl Fazer Ab
- Prestat Ltd.
- Purdys Chocolatier
- The James Trading Group
- Toms Gruppen A/S
- Zotter Chocolates US LLC
- Friars
- Godiva Chocolatier Inc.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Segment Overview
The chocolates containing alcohol market report forecasts market growth by revenue at global, regional & country levels and analyzes the latest trends and growth opportunities from 2018-2028.
- Distribution Channel Outlook
- Offline
- Online
- Type Outlook
- Wafers
- Blocks
- Liquid
- Chips
- Region Outlook
- North America
- The U.S.
- Canada
- Europe
- The U.K.
- Germany
- France
- Rest of Europe
- APAC
- China
- India
- South America
- Chile
- Brazil
- Argentina
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- North America
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Chocolates Containing Alcohol Market Scope |
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Report Coverage |
Details |
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Page number |
160 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.34% |
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Market Growth 2024-2028 |
USD 173.03 million |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
4.5 |
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Regional analysis |
Europe, North America, APAC, South America, and Middle East and Africa |
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Performing market contribution |
Europe at 40% |
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Key countries |
US, China, Germany, UK, and France |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
ABTEY Chocolaterie SAS, AE HAIGH Pty. Ltd., Asbach GmbH, Charbonnel et Walker Ltd., Chocoladefabriken Lindt and Sprungli AG, Chocolate Fetish, Confiserie Leonidas SA, Ferrero International S.A., J.G. Niederegger GmbH and Co. KG, Jacques Torres Chocolate, Kakoa, Lotte Corp., McCreas Candies, Oy Karl Fazer Ab, Prestat Ltd., Purdys Chocolatier, The James Trading Group, Toms Gruppen A/S, Zotter Chocolates US LLC, Friars, and Godiva Chocolatier Inc. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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What are the Key Data Covered in this Chocolates Containing Alcohol Market Research Report?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the market between 2024 and 2028
- Precise estimation of the chocolates containing alcohol market size and its contribution to the market in focus on the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the market across Europe, North America, APAC, South America, and Middle East and Africa
- A thorough analysis of the market’s competitive landscape and detailed information about companies
- Comprehensive analysis of factors that will challenge the growth of chocolates containing alcohol market companies
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