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Milk Chocolate Market Size to Boost US$72.3 billion by 2027 | CAGR 3.7% - IndustryARC


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Bettering retail in low-income nations, innovative marketing, festival celebrations, and rapid urbanization are anticipated to boost market demand.

HYDERABAD, TELANGANA, INDIA, January 27, 2023 / -- IndustryARC, in its latest report, predicts that The Milk Chocolate Market size is estimated to reach $72.3 billion by 2027, growing at a CAGR of 3.7% during the forecast period 2022-2027. Milk chocolate is delineated as a chocolate confectionery produced by taking sugar, milk, and cocoa (butter and mass) into account. The milk chocolate bar was invented in 1875 by Daniel Peter (a famous Swiss chocolatier). Besides its fascinating taste and texture, milk chocolate is deemed to possess antioxidant properties that play a vital role in maintaining the health of several body functions. It boosts energy, reduces stress, and curbs the risk of life-threatening illnesses like heart attacks. Milk chocolates are commonly produced by ingredients (cocoa beans, sugar cane) that are grown through a conventional farming process (with the help of chemicals); however, growing health consciousness among consumers has heightened the demand for organic chocolates. Furthermore, lower sugar content, the addition of dry fruit to draw the attention of a larger audience, proliferating trend of exchanging gifts during the festive season, escalating western influence in developing countries, changing taste and preferences, growing popularity of chocolate among youngsters, rising disposable incomes, top-notch marketing strategies undertaken by various market players, and appealing packaging are factors set to drive the growth of the Milk Chocolate Market for the period 2022-2027.

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Key takeaways:

This IndustryARC report on the Milk Chocolate Market highlights the following areas -

1. Geographically, the Europe Milk Chocolate Market accounted for the highest revenue share in 2021. The growth is owing to high demand and consumption across European nations, better GDP per capita incomes because of affluent economies, high living standards, and well-established modern retail infrastructure.

2. Spiraling developments like mergers and acquisitions, rising trend of conferring gifts during festivals, enlarging celebration of occasions like valentine’s Day, changing tastes and preferences, and state-of-the-art marketing strategies used by marketing players are said to be preeminent drivers driving the growth of the Milk Chocolate Market. Broadening environmental problems that might adversely affect the crop yield of essential ingredients like sugar cane and cocoa beans, augmenting inflation rates worldwide, and side-effect accompanied by immoderate consumption are said to reduce the market growth.

3. Detailed analysis on the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the Milk Chocolate Market report.

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Segmental Analysis:

Milk Chocolate Market Segment Analysis-By Nature : The Milk Chocolate Market based on nature can be further segmented into organic and conventional. The conventional segment held the largest share in 2021.

Milk Chocolate Market Segment Analysis-By Distribution Channel : The Milk Chocolate Market based on distribution channels can be further segmented. The offline segment held the largest share in 2021. The growth is owing to round the corner presence, which doesn’t matter whether the area is developed or underdeveloped; whereas, which is not the case with online platforms as in order to offer the services they require a more developed area with good connectivity.

Milk Chocolate Market Segment Analysis-By Geography : The Milk Chocolate Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World.

Competitive Landscape:

The top 5 players in the Milk Chocolate Industry are -

1. Nestle SA
2. Blommer Chocolate Company
3. Meiji Co Ltd
4. The Hershey Company
5. Mondelez International

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Why Choose IndustryARC?

IndustryARC is one of the leading market research and consulting firms in the world. It produces over 500 unique market reports annually. If you are looking for a detailed overview of a particular market, you can simply connect with the team at IndustryARC. You can not only buy your preferred market report from the website, but also get personalized assistance on specific reports.

Related Reports:

A. Chocolate Market

B. Chocolate Flavors Market

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