According to the latest report by IMARC Group, titled “Caramel Chocolate Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025,” the global caramel chocolate market size reached US$ 4.5 Billion in 2019, exhibiting a CAGR of 7.7% during 2012-2019. Caramel chocolate is a confectionery product with a sweet, nutty, buttery or bitter flavor that is obtained by heating a variety of sugars at a high temperature. It assists in making the taste profile of the white chocolate complex by giving it more depth and reducing the overall sweetness. As a result, it is widely utilized in the cakes, candies, brittles, nougats, pralines, flan, doughnuts, crème brûlée, crème caramel and caramel apples. It is also used as a flavoring in puddings and topping in custard and different ice creams. At present, the industry is witnessing the escalating demand for salted caramel chocolate treats, owing to the growing popularity of gourmet sea salt.
Global Caramel Chocolate Market Trends:
The sweet and salty combination represents one of the biggest food trends across the globe. Consequently, there has been a rise in the demand for salted caramel chocolate products, such as cookies, cupcakes, martinis, pumpkin pies, coffee drinks, truffle ice creams and nut protein bars. Apart from this, on account of changing lifestyles and inflating income levels, the demand for premium products that have better flavor and quality is escalating around the world. Furthermore, the increasing prevalence of lifestyle diseases and the rising health consciousness among individuals have also increased the demand for caramel chocolate as they have lower amounts of fats and artificial sugar. Moreover, leading manufacturers operating in the industry are introducing smaller-sized portions of caramel chocolate products for consumers who wish to monitor their calorie intake. On account of these factors, the market value is projected to reach US$ 6.5 Billion by 2025.
- Based on the distribution channel, the market has been segmented into supermarkets and hypermarkets, convenience stores, non-grocery retailers and others. Supermarkets and hypermarkets account for the majority of the total market share as they provide different product varieties and brands of caramel chocolate to choose from.
- Region-wise, Western Europe enjoys the leading position in the market. Other major regions include North America, Eastern Europe, Asia, Latin America, Australasia, and Middle East and Africa.
The competitive landscape of the market has been examined in the report, along with the detailed profiles of the major players operating in the industry.
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