The global truffle chocolate market is expected to post a CAGR of close to 5% during the period 2018-2022, according to the latest market research report by Technavio
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181212005673/en/
Technavio has released a new market research report on the global truffle chocolate market for the period 2018-2022. (Graphic: Business Wire)
A key factor driving the growth of the market is the growth in organized retailing outlets. Organized retailers have grown worldwide with the establishment of supermarkets, drug stores, convenience stores, hypermarkets, and specialty stores. Truffle chocolates are primarily sold by large organized retailers. Supermarkets and hypermarkets are the major distribution channels that make truffle chocolates easily accessible to consumers. The number of supermarkets in the US grew from 36,149 in 2011 to 38,571 in 2017, thus registering the growth by a CAGR of 1.09%. Other countries that have a high degree of penetration of supermarkets and hypermarkets are the UK, France, Germany, Italy, Spain, Australia, Poland, Japan, South Korea, Germany, Brazil, and China.
This market research report on the global truffle chocolate market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing
In this report, Technavio highlights the rise in premiumization as one of the key emerging trends in the global truffle chocolate market:
Global truffle chocolate market: Rise in premiumization
Consumers look for premium products because they are associated with higher quality, specific origin, fine flavors, and have exotically and ethically sourced ingredients. The improving lifestyle of consumers because of rising disposable income and growing health consciousness is driving the demand for premium and luxurious confectionery items. Many vendors have launched their premium products ranged exclusively for elite customers. Manufacturers of premium confectionery products like truffles and pralines are experimenting with new flavors and ethnic ingredients to align themselves with consumer preferences. New premium confectionery products with reduced sugar and fat levels are gaining popularity among consumers. For example, in 2017, Ferrero acquired a premium confections brand named Fannie May to expand its footprints in the premium confectionery products market. Some of the well-known brands offering premium confections in truffles category include Ferrero Rocher and LINDOR.
"Apart from the rise in premiumization, one other factor expected to boost the growth of the market is the rising influence of online purchasing. With the growth of e-commerce businesses worldwide, vendors have the potential to enhance their profitability. Customers prefer online shopping and pay for their orders using credit or debit cards, which help them in avoiding time-consuming journeys and billing queues. Online shopping portals have also incorporated enhanced security features for efficient customer service and payments, along with customer-friendly website designs that offer enhanced product visibility," says a senior analyst at Technavio for research on human machine interface.
Global truffle chocolate market: Segmentation analysis
This market research report segments the global truffle chocolate market by product (boxed assortments-based truffle chocolate and seasonal-based truffle chocolate) and geographical regions (APAC, EMEA, and the Americas).
The EMEA region led the market in 2017 with a market share close to 48%, followed by the Americas and APAC respectively. However, during the forecast period, the Americas is expected to register the highest incremental growth, followed by the APAC region.
Looking for more information on this market? Request a free sample report
Technavio's sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at media@technavio.com
View source version on businesswire.com: https://www.businesswire.com/news/home/20181212005673/en/
Contacts:
Technavio Research
Jesse Maida
Media Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
www.technavio.com
