The global chocolate and gourmet dates market was valued at US$ 103.89 Billion in 2017, according to Chocolate and Gourmet Dates Market Report, by Product Type (Chocolates, and Gourmet Dates), by Packaging Type (Gift Packaging and Standard Packaging), by Distribution Channel (Hypermarkets and Supermarkets, Convenience Stores, Specialty Stores, Online Stores, and Others), and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa).
The global chocolate and gourmet dates market is projected to reach US$ 160.28 Billion by 2026, exhibiting a CAGR of 5.1% during the forecast period. Increasing awareness about health benefits associated with consumption of chocolates and gourmet dates is fueling growth of the chocolate and gourmet dates market. Furthermore, introduction of limited edition chocolate-based products during festive seasons is driving growth of this market. However, changing trends in case of cocoa supply such as increasing demand and shortage in supply of cocoa is expected to restrain growth of the chocolate and gourmet dates market.
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Browse 25 market data tables* and 15 figures* on "Chocolate and Gourmet Dates Market” - Global forecast to 2026.
Key Trends and Analysis of the Chocolate and Gourmet Dates Market:
- Among product type, the chocolates segment accounted for the largest market share in 2018 in the global chocolate and gourmet dates market. Chocolates provide health benefits such as lowering blood pressure, improving blood circulation, anti-aging, and others. Moreover, cocoa, the main ingredient in chocolate, contains phytochemicals, which is a good source of antioxidants.
- Gourmet dates are rich in high fiber, antioxidants, and are natural sweetener. These aid in improving brain functioning, prevention of bone related conditions, and so on. Moreover, products containing dates such as smoothies, cookies, protein bars, chocolate dipped dates, stuffed dates, and others are gaining demand, owing to the use of organic dates for their preparation.
- Among packaging type, the standard packaging segment dominates the chocolate and gourmet dates market during the forecast period, as a result of its lower price rates as compared to gift packaging. Also, gourmet dates and chocolates are considered gift products due to their classification as premium food items. Therefore, the gift packaging segment for these products is expected to witness a significant growth during the forecast period.
Key Takeaways of the Market:
- Europe accounted for the largest market share of 47.14% in 2017 in the global chocolate and gourmet dates market. This is attributed to increasing number of tourists and high consumption of organic foods in this region. As per the World Bank data, in 2015, the number of tourists visiting Spain was 68.18 million which increased and reached 81.79 million in 2017. Moreover, chocolate factory tours, which are a major tourist attraction, are expected to fuel growth of the chocolate and gourmet dates market over the forecast period.
- Key players in the chocolate and gourmet dates market are focusing on modifying their product portfolio as per customer’s demands, and as per the festivals. For instance, introduction of products such as, LINDT Diva Jewelry Box, Lindor pillow milk, LINDT DIVA Necklace box, Hershey’s Filled Silver Tin, and Easter special eggs. Increasing importance of gifting chocolates and gourmet dates on occasions such as weddings, Thanksgiving, Easter, etc. is expected to increase demand for the products.
- 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.