The global crunchy chocolate market size reached US$ 3.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 3.8 Billion by 2028, exhibiting a growth rate (CAGR) of 2.3% during 2023-2028. The growing popularity of healthy snacking among fitness enthusiasts and athletes, increasing number of e-commerce brands selling organic and vegan product variants, and rising construction of hotels, restaurants, cafes, and baristas serving coffee, smoothies, and shakes represent some of the key factors driving the market.
Rising Consumption of Energy Bars to Suppress Appetite Impelling Market Growth
Energy bars are capable of suppressing appetite for a long time due to the presence of various nutritious contents, such as nuts, dry fruits, rice, and quinoa crisps. They also contain dark chocolate, which is rich in copper, magnesium, zinc, and flavonoids and has anti-inflammatory and antioxidant properties. They are widely consumed by fitness enthusiasts to fulfill their sweet cravings and gain energy before working out. Furthermore, as energy bars come in convenient packaging and can be consumed on the go, their demand is increasing around the world.
Increasing Construction of Hotels, Restaurants, and Cafes Driving Demand for Crunchy Chocolate
Hotels, restaurants, and cafes serve a wide variety of drinks, including shakes and smoothies, which require crunchy chocolate. Crunchy chocolate containing wafers, nuts, dry fruits, and rice crisps add the required grittiness to the drink and helps to thicken the consistency. It is often combined with ice cream, milk, cream, chocolate syrup, ice, coffee, and various types of fruits and blended to achieve a smooth consistency. Crunchy chocolate in dark variant are often added to protein shakes or healthy drinks to enhance their flavor. They also provide adequate amounts of energy to gymgoers and fitness enthusiasts for working out in the gym. Moreover, there is a rise in the trend of working from cafes or conducting meetups in restaurants. This, along with the increasing travel activities among the masses, is contributing to the growth of the crunchy chocolate market.
What is Crunchy Chocolate?
Crunchy chocolate is a dessert item that is shaped like a bar and manufactured by mixing melted chocolate with various other ingredients to provide a gritty texture. It comprises walnuts, almonds, peanuts, pecans, cashews, raisins, wafers, rice crisps, and chocolate chips to provide a crunchy texture. It is often mixed with various berries, such as blueberries, strawberries, and raspberries, to enhance their texture and add an innovative flavor. It is available in a wide variety of flavors, including honey, caramel, hazelnut, cinnamon, and butterscotch. It is consumed in bar forms or in small chunks, which are wrapped with aluminum foil paper to provide protection from dust, dirt, and microorganisms. It is also available in low-calorie variants wherein dark chocolate is used instead of sweetened milk chocolate. It can be easily prepared at home by melting sweetened or dark chocolate and combining it with any type of dry fruits or nuts, rice crisps, pieces of wafers, or quinoa crisps, followed by pouring the mixture into molds and freezing it to form bars. Crunchy chocolate is widely utilized in preparing smoothies, frappes, and various other sweet drinks, where they are crushed to thicken the consistency of the drinks. It is also used as toppings for a wide range of baked products, such as cakes, cupcakes, pastries, brownies, cheesecakes, and doughnuts. Furthermore, crunchy chocolate is often added to ice creams to improve their texture and flavor and used to make chocolate sandwiches.
The outbreak of COVID-19 negatively impacted the crunchy chocolate industry to a great extent as production and supply-chain facilities faced hindrances. During the onset of the pandemic, in-home consumption of crunchy chocolate witnessed a steep rise as individuals bought groceries and snacks in bulk from supermarkets and hypermarkets. However, various processing plants faced hindrances in their operations due to the unavailability of labor and raw material. There were complications associated with quality checks and certification, as the skilled workforce was unavailable. Supply chain and logistics also faced various complications due to the implementation of lockdowns around the world. Raw material and other necessary components were not available, as roads were closed, and social distancing was declared mandatory. Also, sales declined and this resulted in the reduced gifting and impulse buying among customers across the globe. Nonetheless, there were a number of sales taking place via e-commerce platforms from where customers were buying crunchy chocolates and getting them delivered to their doorstep. Towards the end of the pandemic, traveling activities also resumed, which enabled tourists to purchase chocolates from shops located in airports and also as souvenirs while traveling to places.
Crunchy Chocolate Market Trends:
At present, the increasing demand for crunchy chocolate, as it is flavorful, convenient, and easily available, represents one of the primary factors influencing the growth of the market. Besides this, the rising consumption of energy bars or protein bars, which are composed of quinoa, rice crips, corn flakes, dry fruits, and dark chocolate, is contributing to the growth of the market. Apart from this, the increasing number of e-commerce brands selling organic chocolate and vegan chocolate made from cacao beans and free from any animal milk is supporting the growth of the market. Additionally, the rising construction of hotels, restaurants, cafes, and baristas serving coffee, smoothies, and shakes to customers is strengthening the growth of the market. Moreover, the wide availability of gluten-free and sugar-free premium quality crunchy chocolates through various supermarkets and hypermarkets is positively influencing the market. Furthermore, the increasing preferences for gifting premium chocolates for various occasions, such as birthdays, get-togethers, anniversaries, and weddings, is bolstering the growth of the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global crunchy chocolate market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on distribution channel.
Distribution Channel Insights:
- Supermarkets and Hypermarkets
- Convenience Stores
- Non-Grocery Retailers
The report has provided a detailed breakup and analysis of the crunchy chocolate market based on the distribution channel. This includes supermarkets and hypermarkets, convenience stores, non-grocery retailers, and others. According to the report, supermarkets and hypermarkets represented the largest segment, as they keep an extensive range of crunchy chocolates.
Supermarkets and hypermarkets are huge stores selling an extensive range of fast-moving consumer goods (FMCG) products. They also provide various offers and discounts on their products and conduct seasonal sales for their customers. They keep a wide range of chocolate products, including crunchy chocolate. They provide an abundant amount of variety in the crunchy chocolate section, along with various premium varieties, which enables customers to get something according to their preferences. They also sell vegan crunchy chocolates with low-calorie and sugar-free chocolates.
A convenience store is a small shop with a limited section of various items, such as snacks, packaged foods, and drugstore products, and it is open for long hours for the convenience of shoppers. It enables customers to purchase chocolates even late in the night and provide them with an ample amount of variety.
Non-grocery retailers consist of retail shops selling drugstore items and beauty products, pharmacies, and others who do not keep grocery items. However, they often keep a small section of snacks or convenient food products from where consumers can purchase crunchy chocolate while visiting their stores.
Other places selling chocolates include bakery and confectionary stores, premium chocolate shops in airports, and cafes and restaurants selling their own range of hand-made chocolates.
- Western Europe
- North America
- Eastern Europe
- Latin America
- Middle East and Africa
The report has also provided a comprehensive analysis of all the major regional markets, which include Western Europe, North America, Eastern Europe, Asia, Latin America, Middle East and Africa, and Australasia. According to the report, Western Europe was the largest market for crunchy chocolate. Some of the factors driving the Western Europe crunchy chocolate market included the growing availability of premium quality, smooth, and rich chocolate, rising preferences of tourists to purchase chocolates as souvenirs, and the escalating demand for chocolates in various confectionaries and bakeries. Besides this, the rising popularity of Belgium chocolate around the world and the increasing integration of Belgium chocolate in ice creams, waffles, pancake mixes, and baked products are propelling the growth of the market in Western Europe. In addition, the increasing utilization of premium quality chocolates in preparing various European desserts is contributing to the growth of the market.
The report has also provided a comprehensive analysis of the competitive landscape in the global crunchy chocolate market. Some of the companies covered in the report include:
- Mars Inc
- Mondelez International Inc
- Nestle SA
- Ferrero Group
- Hershey Foods Corp
- Grupo Arcor
Please note that this only represents a partial list of companies, and the complete list has been provided in the report.
|Base Year of the Analysis
||US$ Billion, Million Tons
|Distribution Channels Covered
||Supermarkets and Hypermarkets, Convenience Stores, Non-Grocery Retailers, Others
||Western Europe, North America, Eastern Europe, Asia, Latin America, Middle East and Africa, Australasia
||Mars Inc, Mondelez International Inc, Nestle SA, Ferrero Group, Hershey Foods Corp and Grupo Arcor
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Key Benefits for Stakeholders:
- IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the crunchy chocolate market from 2017-2028.
- The research study provides the latest information on the market drivers, challenges, and opportunities in the global crunchy chocolate market.
- The study maps the leading, as well as the fastest-growing, regional markets.
- Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the crunchy chocolate industry and its attractiveness.
- Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.