The study on milk chocolate market by Fortune Business Insights conducted on market is titled, “Milk Chocolate Market Size, Share & Industry Analysis, By Form (Candies, Bars, Chocolate Coated Nuts, Chocolate Chips, Others), By Nature (Conventional, Organic), By Distribution Channel (Hypermarkets/Supermarkets, Retail Stores, Specialty Stores, Online Channels) and Regional Forecast, 2022 – 2029.” The report offers a comprehensive overview of the market with prime emphasis on growth drivers, restraints, trends and opportunities. The information provided in the report is gathered from trusted sources and is available for sale.
Brach’s Confection launched their Brach’s milk chocolate double-dipped hazelnuts IN May 2019. Brach’s Confection is known for its seasonal and traditional confections based in Illinois. Such innovations are anticipated to promote the growth of the global milk chocolate market, predicts Fortune Business Insights in their recent report.
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List of players leading the Milk Chocolate Market include
- Mars Incorporated
- Barry Callebaut
- Mondelez International
- GODIVA Chocolates
- Blommer Chocolate Company
- Moonstruck Chocolate
- The Hershey Company
The report states the chocolate bars and candies segments to hold the majority of shares in the market during the forecast period, based on form. This is attributable to the high preference for candies and bars by consumers. In addition, the fact that these milk chocolate forms are easily available is also prognosticated to promote the growth of these segments in the near future.
Advent of Variety of Flavors in Milk Chocolate to Drive Global Milk Chocolate Market
The global milk chocolate market is anticipated to witness progressive growth rate in the forthcoming years on account of the addition of value-added ingredients such as chocolate liquor, cocoa butter, high-quality milk, and others. The changing preference for taste is propelling consumers to invest in indulgence products made with healthier ingredients and innovative products. The prevailing trend of ‘new and attractive’ have resulted in a variety of milk chocolate flavors with colorful and attractive packaging is anticipated to promote market growth in the forecast period.
Moreover, with the increasing number of health problems worldwide irrespective of age, people are more conscious about their health. This propelled the demand for healthy products in milk chocolate such as low sugar content, use of dry fruits, almonds, and others. Thus, the introduction of healthy ingredients in milk chocolate is another factor anticipated to boost the global milk chocolate market in the long run.
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Segmentation of the Global Milk Chocolate Market
- Chocolate Coated Nuts
- Chocolate Chips
By Distribution Channel
- Retail Stores
- Specialty Stores
- Online Channels
On the contrary, the fluctuating prices of organic milk chocolate and cocoa, a prime ingredient used for producing milk chocolates may cause hindrance to the global milk chocolate market growth in the coming years. In addition, the surge in consumer inclination towards dark chocolate products, a competitor may also challenge the milk chocolate market in the forecast period.
High production and Consumption of Milk Chocolates to Help Europe and North America Hold Major Shares
Geographically, the market for milk chocolates is anticipated to hold major dominance in Europe, followed by North America. It is attributable to the high consumption and production of milk chocolate across the regions. Thus, these regions are expected to continue dominating the market in the forecast duration as well. Besides this, the presence of major milk chocolate giants such as Mondelez International, Nestle S.A., and others is also a strong factor in promoting the market in Europe and North America.
The increasing awareness about health benefits associated with the consumption of chocolates is anticipated to help the milk chocolate market in Asia Pacific register a rapid growth rate in the forecast duration.
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Merger and Acquisition Strategies to Help Market Witness Exponential Growth
Companies are coming into collaborations in order to gain the maximum advantage of the market in the forecast duration. For instance, the global chocolate business of Archer Daniels Midland Co. was acquired by a major chocolate confectionery company Cargill in the year 2015. Other strategies adopted by market players such as Fuji Oil Holdings, Cargill Incorporated, and others include mergers and acquisitions, and product launches. As per Fortune Business Insights, the report highlights some of the major shareholders in the market. These companies are mentioned below:
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