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1 Market Overview
1.1 Definition and presentation
Chocolate is a food derived from cocoa beans, which are fermented, dried, roasted and ground to obtain cocoa powder, cocoa butter and cocoa mass. These components are then mixed with sugar and other ingredients to produce various types of chocolate, including dark, milk and white chocolate. Our study of the chocolate market will go through several key stages by breaking down the data into relevant categories for a deeper understanding of the industry.
The global chocolate market shows steady growth from 2023 to 2030. Starting from a value of $119.39 billion in 2023, it is expected to increase to $158.17 billion by 2030. This represents an overall increase of 32.5 percent over seven years, with a compound annual growth rate (CAGR) of 4.10 percent.
The main market for chocolate is Europe, whose value in 2023 was 44 billion euros and is projected to reach 53.10 billion in 2027, with a compound annual growth rate of 4.80%, therefore higher than the global one.
Italy has become an important center for the production of high-quality chocolate, with an artisanal tradition known for its quality, with internationally renowned brands, an average of 3.1kg of chocolate is consumed per person in a year, well below the European average of 6.35kg. Italians' favorite chocolate is dark, with milk chocolate following.
Turnover in the Italian sector has shown variations over the years marking an overall decrease of 18.8 percent in recent years, a large share of the market belongs to Ferrero and Lindt, with 28 percent of the total . Same downward trend had production value, with a 7.52% decline.
The number ofactive companies is declining while the number of employees has increased, this figure therefore shows the progressive concentration of the industry, with fewer and larger medium-sized companies.
1.2 Global market
The global market value forecast shows steady growth from **** to ****, increasing from $***.** billion in **** to $***.** billion in ****. This represents an overall increase of **.* percent over seven years, with a compound annual growth rate (***) of *.** percent.
Global market value World, ****-****, in US$ billion GrandViewResearch
Cocoa bean production is very challenging, as ...
1.3 European market
in ****, the European market was ** billion euros and is expected to reach **.** billion euros in ****, with a compound annual growth rate of *.**%, representing a total increase of **.*% in five years.
European Chocolate Market Value Europe, ****-****, in € billion CBI
Germany was the leading chocolate exporter in Europe with ***.* tons. It was ...
1.4 Italian market
In ****, the turnover of Italian cocoa, chocolate, candy and confectionery companies was *.** billion euros, rising to *.** billion euros in **** and peaking at *.** billion euros in ****. In ****, turnover dropped to *.** billion euros, with a slight recovery in ****, with turnover reaching *.** billion euros; **** saw a significant decrease to *.** billion euros, marking an overall ...
1.5 Imports and exports
Italian imports of chocolate and other foods containing cocoa increased from €*.*** billion in **** to €*.*** billion in ****, registering an overall growth of ** percent. Exports over the same period grew from *.** billion euros to *.** billion euros, marking an increase of **.* percent. The coverage rate, which represents the ratio of exports to imports, showed ...
1.6 Inflation suffered by the sector
Inflation has been influenced by several factors, one of the main reasons for the increase in raw material costs, cocoa, sugar, milk and other essential components for chocolate production have seen an increase in prices. In addition, high energy costs have played a crucial role. Industrial chocolate production is highly dependent ...
2 Demand analysis
2.1 Overview of demand
Spending on chocolate in Italy has shown a generally increasing trend, with an overall increase of **.**%. In ****, spending was €*.**, dropped to €*.** in ****, then rose to €*.** in ****. In ****, there was a slight decrease to *.**€, followed by an increase to *.**€ in **** and a further increase to *.**€ in ****.
Expenditure item (***) by chocolate Italy, ****-****, ...
2.2 Distribution of demand
In ****, Lombardy leads the consumption of sweets at least a few times a week with *.** million, followed by Lazio (***).
[***]
In contrast, the following table shows the consumption of sweets at least a few times a week among people aged ** and older in Italy in ****, classified by status and position in ...
2.3 Geographical distribution of demand
Northern regions show a higher average expenditure, ranging from €*.* to €*.**. In contrast, the southern regions and islands show a lower average expenditure of €*.**. The center follows with *.* euros; the average expenditure per household in the north is up to **.** percent higher than in the center. This distribution suggests a greater propensity ...
2.4 Trends in chocolate demand
During the fall and winter months, searches reach their highest peaks, with a high of ** in the winter of **** and **.* in early ****. In the summer months, however, a significant decrease is observed, with the lowest values in July **** (***).
Trend of chocolate searches Italy, ****-****, index Google Trends, Businesscoot elaboration
Basilicata records ...
2.5 New trends in demand
In the chocolate market of ****, new trends are emerging that reflect changing consumer preferences and a growing focus on sustainability, health, and innovation.
Here are the main examples:
Lindt Excellence: Dark chocolate with high cocoa content (***) offering intense flavor and smooth texture, designed for dark chocolate lovers. Green & Black's Organic: Organic ...
3 Market structure
3.1 Market structure and dynamics
The number of enterprises active in cocoa and chocolate production in Italy decreased from *** in **** to *** in ****. This represents an overall decrease of *.* percent over the period. After a significant decline between **** and ****, the number of companies remained relatively stable with slight fluctuations in subsequent years, showing a slight recovery in ...
3.2 Value Chain
*. Harvesting
This is the initial stage when the cocoa pods are harvested from the cocoa trees. The pods are carefully cut to avoid damaging the tree.
*. Fermentation
After harvesting, the cocoa beans are extracted from the pods and placed in shallow containers covered with banana leaves to ferment. This process ...
3.3 Main wholesalers
The following are the main wholesalers dealing especially with the confectionery and pastry industry:
Tessieri Srl: Casa Tessieri, founded over fifty years ago, is an Italian company specializing in the distribution of ingredients and food products for food service professionals, including pastry shops, bakeries, restaurants, hotels and ice cream parlors. It ...
3.4 Main companies in chocolate processing
With ateco code **.**, production of cocoa, chocolate, candy and confectionery, there are *** companies including *** corporations, the total turnover of these enterprises is €*,***,***,***.
These are the main ones:
Ferrero Industriale Italia Srl: part of the Ferrero Group, is a company based in Alba, Cuneo, founded in ****. Specializing in the production of chocolate ...
4 Supply analysis
4.1 Products offered
The different types of chocolate best known are:
In addition, based on the form the chocolate takes and the method used in production, we can distinguish between:
4.2 Price trends in the market
The consumer chocolate price index in Italy shows a clear upward trend from May **** to April ****. In May ****, the index was **.* and reached ***.* in April ****, representing an overall increase of *.* percent. During this period, the index crossed the base threshold of *** in July **** and continued to rise, with notable peaks such ...
4.3 Supply innovations
The chocolate market is evolving rapidly with several emerging trends for ****. Here are the main ones:
Vegan Chocolate: Plant-based chocolate is growing rapidly. Companies such as Nestlé have introduced vegan versions of their iconic products, such as vegan KitKat. This trend is fueled by increased consumer awareness of environmental and health ...
5 Regulations
5.1 Italian regulations
On July **, ****, after years of troubled legislative processes that began in ****, the European Parliament finally approved Directive ****/**/EC, * which harmonizes chocolate legislation and extends it to all fifteen member countries. The goal of the Directive is to ensure a greater degree of protection for the consumer, who must be fully aware ...
6 Positioning of actors
6.1 Segmentation
- Lindt Italia
- Nestlè Italia (Perugina)
- Irca
- Icam
- Elah Dufour Novi
- Ferrero
- Nutkao Srl
- Dolfin Srl
- Mondelez Italie
- Tessieri Srl
- Josef Lona & Co. Srl G.M.B.H.
- Baker & Baker Italy Srl
List of charts presented in this market study
- Distribution of the global chocolate market by geographic region
- Global chocolate market value
- World cocoa producers
- World cocoa producers
- European Chocolate Market Value
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the chocolate and chocolate factory market | Italy
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