The global wine chocolate market is predicted to observe striking growth by 2031, owing to the rising awareness about the health benefits of wine chocolate among individuals worldwide. Regionally, the Europe region is predicted to be dominant.
NEW YORK, March 20, 2023 /PRNewswire/ -- Global Wine Chocolate Market Forecast Analysis:
As per the report published by Research Dive, the global wine chocolate market is anticipated to generate a revenue of $1,621.4 million and rise at a CAGR of 8.1% throughout the analysis period from 2022 to 2031.
Segments of the Wine Chocolate Market
The report has divided the wine chocolate market into the following segments:
Product Form: solid, and liquid
Wine Type: red wine and white wine
Sales Channel: supermarkets/hypermarkets, convenience stores and specialty stores, and online
Region: North America, Europe, Asia-Pacific, and LAMEA
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Segment | Sub-Segment |
Product Form | Solid Wine Chocolate - Dominant market share in 2021 |
The growing desire for chocolates in a variety of forms, including bars, among people all across the globe is expected to foster the growth of this market sub-segment further. | |
Wine Type | Red Wine Chocolate - Highest market share in 2021 |
The rising consumption of red wine among individuals and its numerous health benefits, such as maintaining heart health is expected to boost the sub-segment forward. | |
Sales Channel | Supermarkets/Hypermarkets - Biggest market share in 2021 |
Supermarkets/hypermarkets allow individuals to purchase a wide variety of red wine chocolate in any form or size of their own choice which is expected to push the market sub-segment. | |
Region | Europe - Largest market share in 2021 |
The strong presence of major wine and chocolate-producing and consuming nations across the region is predicted to fuel the growth of the regional market in the forecast period. |
Dynamics of the Global Wine Chocolate Market
The increasing awareness of consumers about the health benefits of consuming wine chocolates, such as improving heart health, strengthening brain health, and lowering blood pressure, is expected to fortify the growth of the wine chocolate market throughout the estimated period. Besides, the increasing preference of the younger generation for flavors, for personal consumption and as gifts for friends and family is further expected to bolster the growth of the market during the analysis period. However, the high cost of wine chocolates may hamper the growth of the market over the analysis timeframe.
The continuous development of new wine chocolate products by leading market players is predicted to create wide growth opportunities during the forecast period. Additionally, the growing demand for nutrient-dense and tasty wine chocolates among people is expected to augment the growth of the market throughout the estimated period.
Check out COVID-19 Impact on Wine Chocolate Market. Connect with an Expert Analyst or Schedule a call
Covid-19 Impact on the Global Wine Chocolate Market
The outbreak of the Covid-19 pandemic has negatively impacted the wine chocolate market. This is mainly due to the decreased demand and production of wine chocolate during the pandemic period. Moreover, the worldwide restrictions and lockdown have impacted the supply of raw ingredients, such as wine, grapes, and cocoa to the confectionery industry has declined the growth of the market over the pandemic period.
Key Players of the Global Wine Chocolate Market
The major players of the wine chocolate market include
- Toms International
- Raaka
- Ferrero S.p.a.
- NEUHAUS
- Yildiz Holdings
- Alfred Ritter
- Amedei Tuscany
- Duc d'O
- Halloren
- Underberg AG
These players are working on developing strategies, such as product development, merger and acquisition, partnerships, and collaborations to achieve a leading position in the global industry.
For instance, in August 2021, Cargill, a renowned American global food organization announced its acquisition of Aalst, a Singapore-based chocolate manufacturer to expand its product portfolio across the Asia-Pacific region. With this acquisition, Cargill would expand its cocoa products with the growing preference of consumers and ongoing trends.
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What the Report Covers
Apart from the information summarized in this press release, the final report covers crucial aspects of the market including SWOT analysis, market overview, Porter's five forces analysis, market dynamics, segmentation (key market trends, forecast analysis, and regional analysis), and company profiles (company overview, operating business segments, product portfolio, financial performance, and latest strategic moves and developments.)
More about Wine Chocolate Market:
- Wine Chocolate: Is this Gourmet Food Good for Your Health?
- Wine Chocolate Market to Observe Significant Growth by 2031 Due to Strategic Partnerships and Business Expansion by Market Players, such as Raaka, Cargill, and Others
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About Research Dive
Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With an unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.
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