Chocolate and gourmet dates market

Chocolate and Gourmet Dates Market, By Product Type (Chocolates, Gourmet Dates), By Packaging Type (Gift Packaging, Standard Packaging), By Distribution Channel (Hypermarkets and Supermarkets, Convenience Stores, Specialty Stores, Online Stores, Others), By Region (North America, Latin America, Europe, Middle East, Africa, Asia Pacific)

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Mar 2023
CMI2566
242 Pages
Excel & Pdf
Food and Beverages

Summary

The global chocolate and gourmet dates market is expected to be valued at US$ 195.56 billion by 2030 and is expected to register a CAGR of 5.1% in terms of revenue over the forecast period (2023 – 2030). Factors such as the manufacturing of various limited-edition chocolates and stuffed gourmet dates are fueling the growth of the chocolate and gourmet dates market. Increased spending on tourism is resulting in high demand for chocolates and gourmet dates as gifts as chocolates and sweets in general are considered as good options for return gifts and souveniers. Chocolate and gourmet dates are used in confectionery products such as cookies, bread, candies, and others.

Chocolate and Gourmet Dates Market: Regional Insights

Chocolate and gourmet dates market in Europe is expected to dominate the global market. This is attributed to the high production and consumption of chocolates and raising awareness regarding health benefits. The strong presence of leading manufacturers including Nestle S.A., Lindt & Sprungli AG, Deliciously Dates, Ferrero Group, and Confiseur Laderach AG which are exporting their products across the globe. This factor is expected to support revenue growth of the target market. Moreover, increasing tourism activities is resulting in high demand for chocolates and gourmet dates as gifts.

Asia Pacific chocolate and gourmet dates market is expected to register significant growth, owing to increasing consumption of chocolates, dates, and other chocolate-based confectionery items. Demand for chocolate and gourmet dates in North America is attributable to chocolate festivals organization, which in turn rising growth of the target market.

Figure 1. Global Chocolate and Gourmet Dates Market (%), By Region, 2022

Chocolate and Gourmet Dates Market: Growth Drivers

Increasing consumption of chocolate-based confectionery products is one of the major factors expected to drive the growth of the global market
Moreover, the easy availability of chocolates along with limited edition chocolates and stuffed gourmet dates are some factors fueling the growth of the target market
Also, chocolates and gourmet dates are becoming popular as a better gifting option for festivals and special occasions. This is another factor projected to augment global market growth.
Manufacturers are extending their product portfolios in order to fulfill changing buying and consumption patterns which turns in will aid in the growth of the target market.
In addition, widespread approval of chocolates for drinks, bakery products, ice creams, and functional foods, is expected to boost the growth of the target market over the forecast period

Chocolate and Gourmet Dates Market Report Coverage

Report Coverage	Details
Base Year:	2022	Market Size in 2022:	US$ 131.35 Bn
Historical Data for:	2017 to 2030	Forecast Period:	2023 to 2030
Forecast Period 2023 to 2030 CAGR:	5.1%	2030 Value Projection:	US$ 195.56 Bn
Geographies covered:	North America: U.S. and Canada Latin America: Brazil, Argentina, Mexico, and Rest of Latin America Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific Middle East: GCC Countries, Israel, and Rest of Middle East Africa: South Africa, North Africa, and Central Africa
Segments covered:	By Product Type: Chocolates, Gourmet Dates By Packaging Type: Gift Packaging, Standard Packaging By Distribution Channel: Hypermarkets and Supermarkets, Convenience Stores, Specialty Stores, Online Stores, Others
Companies covered:	Mars Inc., Nestle S.A., Mondelez International, Ferrero Group, Godiva, Bateel International L.L.C., AL FOAH, Doyen Foods, Flyberry Gourmet, Sharjah Dates Factory, and others
Growth Drivers:	Increasing consumption of chocolate-based confectionery products easy availability of chocolates along with limited edition chocolates and stuffed gourmet dates chocolates and gourmet dates are becoming popular as better gifting option on festivals and special occasions Manufacturers are extending product portfolio in order to fulfill changing buying and consumption patterns widespread approval of chocolates for drinks, bakery products, ice creams, functional foods
Restraints & Challenges:	Shortage in supply of cocoa Overconsumption of chocolates may cause dental issues In addition, the high cost of premium packaged products

Chocolate and Gourmet Dates Market: Market restraints

Shortage in the supply of cocoa
Overconsumption of chocolates may cause dental issues, which is a factor expected to hamper the growth of the global market
In addition, the high cost of premium packaged products is another factor that may challenge the growth of the target market

Among packaging type, the standard packaging segment is expected to gain a significant market share during the forecast period, owing to its lower price as compared to gift packaging. Moreover, gourmet dates and chocolates are considered gift products due to their classification as premium food items and therefore, the gift packaging segment’s demand is expected to increase during festivals and occasions such as Thanksgiving, Easter, weddings, birthdays, Valentine’s Day, and others.

Figure 2. Global Chocolate and Gourmet Dates Market (%), By Segments, 2022

Chocolate and Gourmet Dates Market: Key Developments

In May 2020, Chocoladefabriken Lindt & Sprüngli AG company has announced its new product launch with salted caramel truffle in European along with other regions. The product has a smooth texture made with milk chocolate along with a silky caramel-flavored filling into it.
In September 2021, Ferrero International S.A. partnered exclusively with Lagardère Travel Retail to pre-launch the new premium tablet range. The new product is available in three flavors milk, dark 55%, cocoa, and white, crafted only with the highest-quality ingredients.
In January 2019, Nestle in Japan announces volcanic KitKat in advance of Valentine's Day. Nestle revealed the KitKat Chocolatory Sublime Volcanic made with volcanic chocolate made with a rare type of cacao. Sublime Volcanic KitKat comes with a series of three flavors namely, Vanuatu, Papua New Guinea, and The Philippines each bringing its personality to proceedings.

Chocolate and Gourmet Dates Market: Key Players

Major players operating in the global chocolate and gourmet dates market include Mars Inc., Nestle S.A., Mondelez International, Ferrero Group, Godiva, Bateel International L.L.C., AL FOAH, Doyen Foods, Flyberry Gourmet, Sharjah Dates Factory, and others.

Table of Content

Table of Contents

* Browse 25 market data tables* and 15 figures* on “Chocolate and Gourmet Dates Market” - Global forecast to 2030.

Segmentation

Detailed Segmentation:

- Frequently Asked Questions -

1. What are the growth estimates for chocolate and gourmet dates market till 2026?

The global chocolate and gourmet dates market is estimated to surpass US$ 195.56 Billion by 2030.

Which are the prominent market players across the globe?

Major players operating in the market include Mars Inc., Nestle S.A., Mondelez International, Ferrero Group, Godiva, Bateel International L.L.C., AL FOAH, Doyen Foods, Flyberry Gourmet, Sharjah Dates Factory, and others.

What are the key factors hampering growth of the market?

Shortage in the supply of cocoa is one of the major factors that is expected to hamper the growth of the market over the forecast period.

What are the key factors driving growth of the market?

Increasing awareness about health benefits associated with the consumption of chocolates and gourmet dates is one of the major factors that is expected to propel the growth of the market over the forecast period.

What is the compound annual growth rate (CAGR) of the market for next 8 years?

The market is estimated to exhibit a CAGR of 5.1% over the forecast period.

Which region held the largest market share in the market?

Among regions, Europe accounted for the largest market share of 47.14% in 2022, in the market.