The latest report by IMARC Group, titled “Milk Chocolate Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” finds that the global milk chocolate market size is witnessing moderate growth. Milk chocolate refers to a popular confectionery product that primarily contains sugar, cocoa, chocolate liquor, and condensed or whole milk. It has a lighter color, with a creamy and smoother texture as compared to dark chocolate. Nowadays, milk chocolate is available in various shapes and sizes like bars, chips, cubes and wafers. It is a rich source of flavonoids, a type of antioxidant, which aids in eliminating free radicals from the bloodstream. Moderate milk chocolate consumption also helps enhance memory, smoothen and hydrate the skin, reduce the risk of heart strokes, and improve the immune system.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
The global milk chocolate market is primarily driven by the increasing purchasing power of consumers. Besides this, with the rising health awareness among individuals, the leading manufacturers are focusing on producing bite-sized versions of milk chocolates for health-conscious consumers who want to monitor their calorie intake. They are also introducing new milk chocolate variants containing orange, caramel, cookies, and nuts to expand their product portfolio and attract a broader consumer base. The sales of premium milk chocolate are also influenced seasonally around various occasions and festivals, such as Christmas and Easter. Furthermore, due to the numerous functional properties of milk chocolates, they are extensively used in the preparation of food products like cakes, cookies, beverages, smoothies, and syrups. On account of these factors, the market value is expected to reach US$ 82.7 Billion by 2026, exhibiting a CAGR of 3.40% during the forecast period (2021-2026).
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Milk Chocolate Market Segmentation:
Our report has categorized the market based on Region and Distribution Channel.
Breakup by Distribution Channel:
- Supermarkets and Hypermarkets
- Convenience Stores
- Non-Grocery Retailers
- Others
Breakup by Region:
- North America
- Asia Pacific
- Europe
- Middle East and Africa
- Latin America
Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021- 2026)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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