Contact Us
Phase-Xs | Biologics & Biosimilars | Coherent Market Insights

Liquid chocolate is often used as topping to various desserts or mixed with milk beverages to add classic sweet flavour. Cocoa provides phytochemicals, which is an antioxidant. The amount of cacao defines different variety of chocolates such as dark, milk or white chocolate.   


  • Liquid chocolates are largely sold during occasions and festivals such as Valentine’s Day, Easter, Halloween, and Christmas, and during occasions such as weddings, birthdays, anniversaries, mother’s day, and others. According to the International Housewares Association, in 2017, the U.S. retail sales of chocolate products was highest during Easter with a value of US$ 935 million, followed by Christmas, Valentine’s Day, Halloween, and other similar public holidays/occasions with values US$ 776 million, US$ 524 million, US$ 383 million, and US$ 12 million, respectively.
  • Increasing awareness about health benefits associated with chocolate is boosting demand for liquid chocolates. Chocolates contain antioxidants called flavonoids, most notably epicatechin, catechin, and procyanidins. High intake of foods containing flavonoids reduce risk of heart disease. Dark chocolate protects the skin against sun damage, improves blood flow to the skin, increases skin hydration, and improves brain functioning.
  • Stringent government regulations imposed on liquid chocolate manufacturing & packaging is a key challenge for manufacturers to sustain in the market. In the U.S., Food & Drug Administration (FDA) regulates the manufacturing & labelling standards for chocolates. Code of Federal Regulations Title 21 part 163 defines method of analysis & specific standardization of cocoa products.


  • Food segment holds dominant position in the market in 2018 and is expected to maintain its dominance over the forecast period. Chocolate syrups are extensively used to decorate & provide tasty flavor to variety of bakery & confectionary products.
  • Europe accounted for the largest market share in the global liquid chocolates market in 2018. Chocolate events and festivals have been gaining attraction in Europe. For instance, Eurochocolate, the definitive event for chocolate connoisseur in the Umbrian town of Perugia in central Italy, is Europe’s largest chocolate festival and it attracts around 900,000 visitors every year. Therefore, with increasing number of chocolate festivals, the demand for liquid chocolates in Europe is expected to increase during the forecast period.
  • Several countries in Asia Pacific such as Sri Lanka, Malaysia, Indonesia, Philippines, and Papua New Guinea are among the major producers of cocoa. According to the International Cocoa Organization, from 2017 to 2018, cocoa production in Indonesia was around 2.8 billion tons, with the rest of Asia Pacific accounting for 0.88 billion tons. Such factors create potential growth opportunity for liquid chocolate manufacturers in these countries.


  • Key players operating in the global liquid chocolates market include Nestle S.A., The Hershey Company, The J.M. Smucker Company, Monin, R. Torre & Company, Amoretti, Ghirardelli Chocolate Company, Walden Farms, AH!LASKA, Olam International, CEMOI, Baronie Group, Blommer Chocolate Company, NATRA, and Barry Callebaut among others
  • In 2017, the Hershey Company announced plans to invest US$ 50 million in India over the next five years. The investment was done to tap increasing demand for both solid & liquid chocolates in India. Such activities by leading key players are aiding in growth of the market.


On the basis of product type, the global liquid chocolates market is segmented into:

  • White Chocolate
  • Dark Chocolate
  • Milk Chocolate

On the basis of application, the global liquid chocolates market is segmented into:

  • Food
    • Bakery Products
    • Confectionary Products
    • Ice Cream
    • Others
  • Beverages
    • Milk Shake
    • Smoothies
    • Others

On basis of end use, the global liquid chocolates market is segmented into:

  • Commercial
  • Residential

On basis of distribution channel, the global liquid chocolates market is segmented into:

  • B2C
    • Hypermarkets & Supermarkets
    • Specialty Stores
    • Online Channel
    • Others
  • B2B

On the basis of region, the global liquid chocolates market is segmented into:

  • Asia Pacific
    • China
    • India
    • Japan
    • ASEAN
    • Australia
    • South Korea
    • Rest of Asia Pacific
  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • U.K.
    • Germany
    • France
    • Italy
    • Russia
    • Rest of the Europe
  • South America
    • Brazil
    • Argentina
    • Rest of South America
  • Middle East
    • GCC
    • Israel
    • Rest of Middle East
  • Africa
    • North Africa
    • Central Africa
    • South Africa

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

Data Triangulation Methodology | Coherent Market Insights

Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.

Market Analysis | Coherent Market Insights

Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

Subscribe Newsletter

Kindly Subscribe for our latest news & articles.