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Press Release:

Global Chocolate Market to Grow at 2.6% During 2022-2027, Impelled by Significant Growth in Food and Beverages Sector

COVID-19
The pandemic continues to cause unprecedented disruption across industries worldwide.
Get detailed insights regarding the impact of COVID-19 on the market.

Chocolate Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Market Overview:

The global chocolate market reached a value of US$ 151.9 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 177.8 Billion by 2027, exhibiting a CAGR of 2.6% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor. 

Chocolate is an edible product that is prepared by roasting cacao seeds obtained from the pods of the Theobroma cacao trees. The cacao beans are harvested, fermented, dried and ground to form a paste. The paste is then put under high pressure for separating the chocolate liquor and cocoa butter. These two ingredients are further mixed in varying proportions to manufacture couverture, dark, milk, white and baking chocolate and cocoa powder. Chocolates are a rich source of various alkaloids, such as phenethylamine, caffeine, theobromine and flavonoids and are majorly used in the production of bakery goods and confectionery products, such as cakes, cookies, puddings and brownies.

 

 
 

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Significant growth in the food and beverage industry is one of the key factors driving the growth of the market. Furthermore, increasing consumer preference for molded chocolates, which typically include the solid shaped or segmented bar/block variants infused with various additional flavors or stuffed with nuts, raisins and other fillings, is also providing a boost to the market growth. Additionally, rising awareness regarding the health benefits of consuming dark chocolate is acting as another growth-inducing factor. Regular consumption of dark chocolate in moderate quantities is known to improve blood circulation in the body, enhance brain function, lower blood pressure and minimize the risks of heart diseases. Other factors, such as the premiumization of chocolate-based products, utilization of aesthetically appealing packaging to attract consumers’ attention, along with the production of organic, vegan and sugar- and gluten-free chocolates, are projected to drive the market further. 

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global chocolate market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on product type, product form, application, pricing and distribution.

Breakup by Product Type:

 

 
 

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Breakup by Product Form:

  • Molded
  • Countlines
  • Others
     

Breakup by Application:

  •  Food Products
    • Bakery Products
    • Sugar Confectionery
    • Desserts
    • Others
  • Beverages
  • Others

 

Breakup by Pricing:

  • Everyday Chocolate
  • Premium Chocolate
  • Seasonal Chocolate
     

Breakup by Distribution:

  • Direct Sales (B2B)
  • Supermarkets and Hypermarkets
  • Convenience Stores
  • Online Stores
  • Others
     

Breakup by Region:

 

 
 

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  • North America
    • United States
    • Canada
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

Competitive Landscape:

The report has also analysed the competitive landscape of the market with some of the key players being Arcor, Barry Callebaut, Chocoladefabriken Lindt & Sprüngli AG, Chocolaterie Guylian, Ferrero International, Mars Incorporated, Meiji Co. Ltd., Mondelez International Inc. (Kraft Foods), Moonstruck Chocolate Company, Nestlé S.A., The Hershey Company, etc.

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Billion
Segment Coverage Product Type, Product Form, Application, Pricing, Distribution, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Arcor, Barry Callebaut, Chocoladefabriken Lindt & Sprüngli AG, Chocolaterie Guylian, Ferrero International, Mars Incorporated, Meiji Co. Ltd., Mondelez International Inc. (Kraft Foods), Moonstruck Chocolate Company, Nestlé S.A. and The Hershey Company
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

1    Preface
2    Scope and Methodology 
    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3    Executive Summary
4    Introduction
    4.1    Overview
    4.2    Key Industry Trends
5    Global Chocolate Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Forecast
6    Market Breakup by Product Type
    6.1    White Chocolate
        6.1.1 Market Trends
        6.1.2 Market Forecast
    6.2    Milk Chocolate
        6.2.1 Market Trends
        6.2.2 Market Forecast
    6.3    Dark Chocolate
        6.3.1 Market Trends
        6.3.2 Market Forecast
    6.4    Others
        6.4.1 Market Trends
        6.4.2 Market Forecast
7    Market Breakup by Product Form
    7.1    Molded
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    Countlines
        7.2.1 Market Trends
        7.2.2 Market Forecast
    7.3    Others
        7.3.1 Market Trends
        7.3.2 Market Forecast
8    Market Breakup by Application
    8.1    Food Products
        8.1.1 Market Trends
        8.1.2 Major Types
            8.1.2.1 Bakery Products
            8.1.2.2 Sugar Confectionery
            8.1.2.3 Desserts
            8.1.2.4 Others
        8.1.3 Market Forecast
    8.2    Beverages
        8.2.1 Market Trends
        8.2.2 Market Forecast
     8.3    Others
        8.3.1 Market Trends
        8.3.2 Market Forecast
9    Market Breakup by Pricing
    9.1    Everyday Chocolate
        9.1.1 Market Trends
        9.1.2 Market Forecast
    9.2    Premium Chocolate
        9.2.1 Market Trends
        9.2.2 Market Forecast
    9.3    Seasonal Chocolate
        9.3.1 Market Trends
        9.3.2 Market Forecast
10    Market Breakup by Distribution
    10.1    Direct Sales (B2B)
        10.1.1 Market Trends
        10.1.2 Market Forecast
    10.2    Supermarkets and Hypermarkets
        10.2.1 Market Trends
        10.2.2 Market Forecast
    10.3    Convenience Stores
        10.3.1 Market Trends
        10.3.2 Market Forecast
    10.4    Online Stores
        10.4.1 Market Trends
        10.4.2 Market Forecast
    10.5    Others
        10.5.1 Market Trends
        10.5.2 Market Forecast
11    Market Breakup by Region
    11.1    North America
        11.1.1 United States
           11.1.1.1 Market Trends
           11.1.1.2 Market Forecast
        11.1.2 Canada
           11.1.2.1 Market Trends
           11.1.2.2 Market Forecast
    11.2    Asia Pacific
        11.2.1 China
           11.2.1.1 Market Trends
           11.2.1.2 Market Forecast
        11.2.2 Japan
           11.2.2.1 Market Trends
           11.2.2.2 Market Forecast
        11.2.3 India
           11.2.3.1 Market Trends
           11.2.3.2 Market Forecast
        11.2.4 South Korea
           11.2.4.1 Market Trends
           11.2.4.2 Market Forecast
        11.2.5 Australia
           11.2.5.1 Market Trends
           11.2.5.2 Market Forecast
        11.2.6 Indonesia
           11.2.6.1 Market Trends
           11.2.6.2 Market Forecast
        11.2.7 Others
           11.2.7.1 Market Trends
           11.2.7.2 Market Forecast
    11.3    Europe
        11.3.1 Germany
           11.3.1.1 Market Trends
           11.3.1.2 Market Forecast
        11.3.2 France
           11.3.2.1 Market Trends
           11.3.2.2 Market Forecast
        11.3.3 United Kingdom
           11.3.3.1 Market Trends
           11.3.3.2 Market Forecast
        11.3.4 Italy
           11.3.4.1 Market Trends
           11.3.4.2 Market Forecast
        11.3.5 Spain
           11.3.5.1 Market Trends
           11.3.5.2 Market Forecast
        11.3.6 Russia
           11.3.6.1 Market Trends
           11.3.6.2 Market Forecast
        11.3.7 Others
           11.3.7.1 Market Trends
           11.3.7.2 Market Forecast
    11.4    Latin America
        11.4.1 Brazil
           11.4.1.1 Market Trends
           11.4.1.2 Market Forecast
        11.4.2 Mexico
           11.4.2.1 Market Trends
           11.4.2.2 Market Forecast
        11.4.3 Others
           11.4.3.1 Market Trends
           11.4.3.2 Market Forecast
    11.5    Middle East and Africa
        11.5.1 Market Trends
        11.5.2 Market Breakup by Country
        11.5.3 Market Forecast
12    SWOT Analysis
    12.1    Overview
    12.2    Strengths
    12.3    Weaknesses
    12.4    Opportunities
    12.5    Threats
13    Value Chain Analysis
14    Porters Five Forces Analysis
    14.1    Overview
    14.2    Bargaining Power of Buyers
    14.3    Bargaining Power of Suppliers
    14.4    Degree of Competition
    14.5    Threat of New Entrants
    14.6    Threat of Substitutes
15    Price Indicators
16    Competitive Landscape
    16.1    Market Structure
    16.2    Key Players
    16.3    Profiles of Key Players
        16.3.1    Arcor
           16.3.1.1 Company Overview
           16.3.1.2 Product Portfolio 
        16.3.2    Barry Callebaut
           16.3.2.1 Company Overview
           16.3.2.2 Product Portfolio
        16.3.3    Chocoladefabriken Lindt & Sprüngli AG
           16.3.3.1 Company Overview
           16.3.3.2 Product Portfolio 
           16.3.3.3 Financials 
        16.3.4    Chocolaterie Guylian
           16.3.4.1 Company Overview
           16.3.4.2 Product Portfolio 
           16.3.4.3 Financials
        16.3.5    Ferrero International
           16.3.5.1 Company Overview
           16.3.5.2 Product Portfolio 
           16.3.5.3 Financials 
        16.3.6    Mars Incorporated
           16.3.6.1 Company Overview
           16.3.6.2 Product Portfolio
           16.3.6.3 SWOT Analysis
        16.3.7    Meiji Co. Ltd.
           16.3.7.1 Company Overview
           16.3.7.2 Product Portfolio 
           16.3.7.3 Financials 
           16.3.7.4 SWOT Analysis
        16.3.8    Mondelez International Inc. (Kraft Foods)
           16.3.8.1 Company Overview
           16.3.8.2 Product Portfolio
           16.3.8.3 Financials 
           16.3.8.4 SWOT Analysis
        16.3.9    Moonstruck Chocolate Company
           16.3.9.1 Company Overview
           16.3.9.2 Product Portfolio 
        16.3.10    Nestlé S.A.
           16.3.10.1 Company Overview
           16.3.10.2 Product Portfolio 
           16.3.10.3 Financials 
           16.3.10.4 SWOT Analysis
        16.3.11    The Hershey Company
           16.3.11.1 Company Overview
           16.3.11.2 Product Portfolio 
           16.3.11.3 Financials 
           16.3.11.4 SWOT Analysis

List of Figures

Figure 1: Global: Chocolate Market: Major Drivers and Challenges
Figure 2: Global: Chocolate Market: Sales Value (in Billion US$), 2016-2021
Figure 3: Global: Chocolate Market: Breakup by Product Type (in %), 2021
Figure 4: Global: Chocolate Market: Breakup by Product Form (in %), 2021
Figure 5: Global: Chocolate Market: Breakup by Application (in %), 2021
Figure 6: Global: Chocolate Market: Breakup by Pricing (in %), 2021
Figure 7: Global: Chocolate Market: Breakup by Distribution (in %), 2021
Figure 8: Global: Chocolate Market: Breakup by Region (in %), 2021
Figure 9: Global: Chocolate Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 10: Global: Chocolate (White Chocolate) Market: Sales Value (in Million US$), 2016 & 2021
Figure 11: Global: Chocolate (White Chocolate) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 12: Global: Chocolate (Milk Chocolate) Market: Sales Value (in Million US$), 2016 & 2021
Figure 13: Global: Chocolate (Milk Chocolate) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 14: Global: Chocolate (Dark Chocolate) Market: Sales Value (in Million US$), 2016 & 2021
Figure 15: Global: Chocolate (Dark Chocolate) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 16: Global: Chocolate (Others) Market: Sales Value (in Million US$), 2016 & 2021
Figure 17: Global: Chocolate (Others) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 18: Global: Chocolate (Molded) Market: Sales Value (in Million US$), 2016 & 2021
Figure 19: Global: Chocolate (Molded) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 20: Global: Chocolate (Countlines) Market: Sales Value (in Million US$), 2016 & 2021
Figure 21: Global: Chocolate (Countlines) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 22: Global: Chocolate (Others) Market: Sales Value (in Million US$), 2016 & 2021
Figure 23: Global: Chocolate (Others) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 24: Global: Chocolate (Food Products) Market: Sales Value (in Million US$), 2016 & 2021
Figure 25: Global: Chocolate (Food Products) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 26: Global: Chocolate (Beverages) Market: Sales Value (in Million US$), 2016 & 2021
Figure 27: Global: Chocolate (Beverages) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 28: Global: Chocolate (Others) Market: Sales Value (in Million US$), 2016 & 2021
Figure 29: Global: Chocolate (Others) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 30: Global: Chocolate (Everyday Chocolate) Market: Sales Value (in Million US$), 2016 & 2021
Figure 31: Global: Chocolate (Everyday Chocolate) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 32: Global: Chocolate (Premium Chocolate) Market: Sales Value (in Million US$), 2016 & 2021
Figure 33: Global: Chocolate (Premium Chocolate) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 34: Global: Chocolate (Seasonal Chocolate) Market: Sales Value (in Million US$), 2016 & 2021
Figure 35: Global: Chocolate (Seasonal Chocolate) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 36: Global: Chocolate (Direct Sales- B2B) Market: Sales Value (in Million US$), 2016 & 2021
Figure 37: Global: Chocolate (Direct Sales- B2B) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 38: Global: Chocolate (Supermarkets and Hypermarkets) Market: Sales Value (in Million US$), 2016 & 2021
Figure 39: Global: Chocolate (Supermarkets and Hypermarkets) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 40: Global: Chocolate (Convenience Stores) Market: Sales Value (in Million US$), 2016 & 2021
Figure 41: Global: Chocolate (Convenience Stores) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 42: Global: Chocolate (Online Stores) Market: Sales Value (in Million US$), 2016 & 2021
Figure 43: Global: Chocolate (Online Stores) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 44: Global: Chocolate (Others) Market: Sales Value (in Million US$), 2016 & 2021
Figure 45: Global: Chocolate (Others) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 46: North America: Chocolate Market: Sales Value (in Million US$), 2016 & 2021
Figure 47: North America: Chocolate Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 48: United States: Chocolate Market: Sales Value (in Million US$), 2016 & 2021
Figure 49: United States: Chocolate Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 50: Canada: Chocolate Market: Sales Value (in Million US$), 2016 & 2021
Figure 51: Canada: Chocolate Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 52: Asia Pacific: Chocolate Market: Sales Value (in Million US$), 2016 & 2021
Figure 53: Asia Pacific: Chocolate Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 54: China: Chocolate Market: Sales Value (in Million US$), 2016 & 2021
Figure 55: China: Chocolate Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 56: Japan: Chocolate Market: Sales Value (in Million US$), 2016 & 2021
Figure 57: Japan: Chocolate Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 58: India: Chocolate Market: Sales Value (in Million US$), 2016 & 2021
Figure 59: India: Chocolate Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 60: South Korea: Chocolate Market: Sales Value (in Million US$), 2016 & 2021
Figure 61: South Korea: Chocolate Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 62: Australia: Chocolate Market: Sales Value (in Million US$), 2016 & 2021
Figure 63: Australia: Chocolate Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 64: Indonesia: Chocolate Market: Sales Value (in Million US$), 2016 & 2021
Figure 65: Indonesia: Chocolate Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 66: Others: Chocolate Market: Sales Value (in Million US$), 2016 & 2021
Figure 67: Others: Chocolate Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 68: Europe: Chocolate Market: Sales Value (in Million US$), 2016 & 2021
Figure 69: Europe: Chocolate Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 70: Germany: Chocolate Market: Sales Value (in Million US$), 2016 & 2021
Figure 71: Germany: Chocolate Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 72: France: Chocolate Market: Sales Value (in Million US$), 2016 & 2021
Figure 73: France: Chocolate Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 74: United Kingdom: Chocolate Market: Sales Value (in Million US$), 2016 & 2021
Figure 75: United Kingdom: Chocolate Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 76: Italy: Chocolate Market: Sales Value (in Million US$), 2016 & 2021
Figure 77: Italy: Chocolate Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 78: Spain: Chocolate Market: Sales Value (in Million US$), 2016 & 2021
Figure 79: Spain: Chocolate Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 80: Russia: Chocolate Market: Sales Value (in Million US$), 2016 & 2021
Figure 81: Russia: Chocolate Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 82: Others: Chocolate Market: Sales Value (in Million US$), 2016 & 2021
Figure 83: Others: Chocolate Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 84: Latin America: Chocolate Market: Sales Value (in Million US$), 2016 & 2021
Figure 85: Latin America: Chocolate Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 86: Brazil: Chocolate Market: Sales Value (in Million US$), 2016 & 2021
Figure 87: Brazil: Chocolate Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 88: Mexico: Chocolate Market: Sales Value (in Million US$), 2016 & 2021
Figure 89: Mexico: Chocolate Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 90: Others: Chocolate Market: Sales Value (in Million US$), 2016 & 2021
Figure 91: Others: Chocolate Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 92: Middle East and Africa: Chocolate Market: Sales Value (in Million US$), 2016 & 2021
Figure 93: Middle East and Africa: Chocolate Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 94: Global: Chocolate Industry: SWOT Analysis
Figure 95: Global: Chocolate Industry: Value Chain Analysis
Figure 96: Global: Chocolate Industry: Porter’s Five Forces Analysis

List of Tables

Table 1: Global: Chocolate Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Chocolate Market Forecast: Breakup by Product Type (in Million US$), 2022-2027
Table 3: Global: Chocolate Market Forecast: Breakup by Product Form (in Million US$), 2022-2027
Table 4: Global: Chocolate Market Forecast: Breakup by Application (in Million US$), 2022-2027
Table 5: Global: Chocolate Market Forecast: Breakup by Pricing (in Million US$), 2022-2027
Table 6: Global: Chocolate Market Forecast: Breakup by Distribution (in Million US$), 2022-2027
Table 7: Global: Chocolate Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 8: Global: Chocolate Market: Competitive Structure
Table 9: Global: Chocolate Market: Key Players


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Key Questions Answered in This Report

The global chocolate market was valued at US$ 151.9 Billion in 2021.

We expect the global chocolate market to exhibit a CAGR of 2.6% during 2022-2027.

The introduction of organic, sugar- and gluten-free chocolate variants, along with the increasing
premiumization of chocolate-based products, is primarily driving the global chocolate market.

The sudden outbreak of the COVID-19 pandemic has led to the changing consumer inclination from
conventional brick-and-mortar distribution channels towards online retail platforms for the purchase
of chocolates.

Based on the product type, the global chocolate market can be segregated into white chocolate, milk
chocolate, dark chocolate, and others. Currently, milk chocolate represents the largest market share.

Based on the product form, the global chocolate market has been divided into molded, countlines,
and others, where countlines form exhibits a clear dominance in the market.

Based on the application, the global chocolate market can be categorized into food products,
beverages, and others. Among these, food products hold the majority of the global market share.

Based on the pricing, the global chocolate market has been segmented into everyday chocolate,
premium chocolate, and seasonal chocolate. Currently, everyday chocolate represents the largest
market share.

Based on the distribution, the global chocolate market can be bifurcated into direct sales (B2B),
supermarkets and hypermarkets, convenience stores, online stores, and others. Among these,
supermarkets and hypermarkets account for the majority of the total market share.

On a regional level, the market has been classified into North America, Europe, Asia Pacific, Middle
East and Africa, and Latin America, where North America currently dominates the global market.

Some of the major players in the global chocolate market include Arcor, Barry Callebaut,
Chocoladefabriken Lindt & Sprüngli AG, Chocolaterie Guylian, Ferrero International, Mars
Incorporated, Meiji Co. Ltd., Mondelez International Inc. (Kraft Foods), Moonstruck Chocolate
Company, Nestlé S.A., The Hershey Company, etc.

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