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We expect the global chocolate market to grow at a CAGR of around 5% during 2021-2026.
The increasing consumer preference towards chocolate-based baked goods, confectioneries, western desserts, etc., represents one of the factors catalyzing the global chocolate market.
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 segmented into white chocolate, milk chocolate, dark chocolate, and others. Currently, milk chocolate accounts for the highest market share in the market.
On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa, where Europe currently dominates the global chocolate 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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