Chocolate Market Size, Share, Growth Analysis, By Type(Dark, Milk, White, Artificial Chocolate), By Distribution Channel(Online, Supermarkets, Convenience Stores), By Product(Softlines/Selflines, Countlines, Molded Chocolates, Other Product Types), By Application(Food, Beverages, Cosmetics, Pharmaceuticals), By Region - Industry Forecast 2024-2031

Global Chocolate Market size was valued at USD 42.29 billion in 2019 and is poised to grow from USD 46.61 billion in 2023 to USD 67.88 billion by 2031, growing at a CAGR of 4.98% in the forecast period (2024-2031).

Growing demand for organic, vegan, sugar-free, and gluten-free chocolates is driving growth of the global chocolate market. With growing awareness of the negative effects of synthetic products on health and the environment, the majority of health-conscious and informed consumers have begun to use organic products. Furthermore, seasonal demand influences the sale of premium chocolates. During holidays such as Easter and Christmas, various companies release a wide variety of chocolate varieties. For example, Lindt Teddy, dressed in a traditional English Christmas pullover, remains a seasonal best-seller in the United Kingdom.

Other factor driving Chocolate market growth is significant growth in the food and beverage industry. Furthermore, rising consumer demand for molded chocolates, which typically include solid-shaped or segmented bar/block variants infused with various additional flavors or stuffed with nuts, raisins, and other fillings, is boosting Chocolate market growth. Furthermore, rising public awareness of the health benefits of dark chocolate consumption is fueling growth. Dark chocolate is known to improve blood circulation in the body, improve brain function, lower blood pressure, and reduce the risk of heart disease when consumed in moderation.

US Chocolate Market is poised to grow at a sustainable CAGR for the next forecast year.