South America Chocolate Market Report to 2027 – Featuring Lotte Confectionery, Mars Wrigley, Mondelez International and Nestle Among Others – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “South America Chocolate (Milk, Dark, White) Market Outlook, 2027” report has been added to ResearchAndMarkets.com’s offering.
According to the research report, South America Chocolate Market Outlook, 2027, the chocolate market in South America is projected to grow at a CAGR of 7.99% over the forecast period.
The chocolate market in South America is driven by rising awareness regarding the health benefits offered by chocolate and increasing marketing activities. In addition, other factors such as growing demand for customised chocolate are expected to trigger the chocolate market in South America.
South America grows some of the most prized flavour beans in the world. Brazil is the largest producer of cocoa beans in South America, while Venezuela is well known for its rarer varieties like the Porcelana and the Chuao. The great comparative advantage that is based on a fortunate geographic position, as well as other aspects such as genetic diversity and the diversity that is typical of South American ecosystems, has enabled the region to contain 7 of the 11 genetic clusters of cocoa.
Ecuador in Latin America is home to the world’s best chocolates. Branding and packaging play a pivotal role in targeting consumers. The increasing demand for ethically harvested cocoa and cocoa sourced from a single plantation is driving the growth of the premium chocolate segment.
Annual holidays like Christmas, Easter, Halloween, and Valentine’s Day, among others, are the days when there is a steep rise in demand for chocolates. The marketers are launching and re-branding their different variants to capture more market share. The chocolate market of Latin America is proposed to become the next big destination for the chocolate industry with its rapid chocolate adaptation.
Consumers’ increase in disposable income is a major driving force for the chocolate market. Chocolate consumption is highly influenced by occasion and type, like white chocolate, milk chocolate, or dark chocolate. An inclination towards the desire for new tastes has opened markets for the industry to bloom. Growing health concerns have impacted the market, causing it to shift its dominance from milk chocolate gradually towards dark chocolate. The demand for premium chocolates will have the highest CAGR of 12.49% in the forecasted year.
The availability of confectionary items at discounted prices in supermarkets and online grocery stores has made the purchase easier for customers. The emerging online segment is pushing the chocolate market on the path of growth and development. Companies have started selling their chocolate products through their websites.
It is projected that sales of chocolates through the online segment will grow at a CAGR of 10.80% over the forecast period. Constant launches of new flavours and variants have opened the doors for a promising future in the South American market. Consumers being proactive with regards to health now consider eating smaller chocolates as overeating leads to obesity. Gifting chocolates is the simplest and most widely used form of gifting today due to its global acceptance. Despite wide acceptance, luxury chocolates still need to find a prominent place.
Dark chocolate, which has a high percentage of cocoa, is particularly suggested for preventing or slowing the ageing process as well as some ailments such as cardiovascular disease. Furthermore, chocolate’s antioxidant content, blood pressure-lowering capabilities, and presumed anti-aging benefits will continue to drive the consumption of chocolate and chocolate products. According to recent research findings, chocolate consumption helps people look younger and reduces stress, which is projected to drive dark chocolate demand in the market throughout the forecast period at a CAGR of 8.92%.
Brazil is the largest market for chocolates in the South America region with half of the total region’s chocolate market share. Brazil’s National Association of the Cocoa Processing Industry (AIPC) expects the surge in cocoa planting to help double the country’s output of the raw material in chocolate by 2028. This increase would raise global output by about 5%. The renewed planting could make Brazil one of the world’s top three cocoa growers. Thus, this factor makes this market profit-oriented during the forecast period. Moreover, Brazil dominates chocolate consumption in the region, which is expected to maintain its position during the forecast period.
Considered in this report
- Geography: South America
- Base year: 2021
- Estimated year: 2022
- Forecast year: 2027
Key Topics Covered:
1. Executive Summary
2. Report Methodology
3. Market Structure
3.1. Market Considerate
3.2. Market Definitions
4. Global Chocolate Market Outlook
4.1. Market Size By Value
4.2. Market Share
4.2.1. By Type
4.2.2. By Application
4.2.3. By Sales Channel
4.2.4. By Region
4.2.5. By Country
4.2.6. By Company
5. Global Dark Chocolate Market Outlook
6. Global White Chocolate Market Outlook
7. Global Milk Chocolate Market Outlook
8. South America Chocolate Market Outlook
8.1. Market Size By Value
8.2. Market Share
8.3. Brazil Chocolate Market Outlook
8.4. Argentina Chocolate Market Outlook
8.5. Chile Chocolate Market Outlook
9. Market Dynamics
9.1. Key Drivers
9.2. Key Challenges
10. Market Trends and Developments
11. Company Profiles
11.1. Barry Callebaut
11.2. Ferrero
11.3. Lindt & Sprungli AG
11.4. Lotte Confectionery
11.5. Mars Wrigley
11.6. Mondelez International
11.7. Nestle S.A
11.8. The Hershey Company
12. Strategic Recommendations
13. Disclaimer
For more information about this report visit https://www.researchandmarkets.com/r/mckn0i
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