According to the latest report by IMARC Group, titled "Europe Premium Chocolate Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the Europe premium chocolate market is expected to exhibit a CAGR of 7.94% during 2022-2027. Premium chocolates refer to the edible products obtained by fermenting and roasting good quality seeds that are obtained from the pods of the Theobroma cacao trees. Commonly rich in caffeine, phenethylamine, theobromine and flavonoids, they can be widely available in dark, milk or white variants. These premium chocolates require superior craftsmanship to manufacture variants with a richer taste and texture when compared with the regular chocolates. These variants are also wrapped in aesthetically- pleasing packages to grab the attention of the customers instantaneously. These chocolates are additionally infused with a vast array of unconventional flavors, including mint, salt, caramel, espresso, hazelnut, peanut butter and tropical fruits, due to which they are widely gaining prominence among the masses.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Europe Premium Chocolate Market Trends:
The market in Europe is primarily driven by the increasing preference for premium and good quality chocolates among the masses. Growing awareness regarding the adverse effects of consuming synthetic and cheaply-sourced products is also contributing to the increasing demand for premium chocolates. Along with this, the advent of sugar-free and organic chocolates in the market is gaining widespread prominence among the masses. This can be accredited to the rising health consciousness among individuals in the region. Additionally, vegan and gluten-free variants are experiencing extensive popularity among vegans and people with gluten allergy. The market is further driven by the rising demand for limited edition seasonal premium chocolates across Europe. Supported by the increasingly popular trend of gifting premium chocolates as a luxury present in the region, this is providing a thrust to the market growth. Moreover, there has been an increase in the number of private-label chocolatiers in the region who specialize in artisanal and specialized products. They produce fine quality chocolates with exotic flavors and also customize variants according to the requirements of the customers. Coupled with the strong presence of efficient e-commerce facilities in Europe, this is providing an impetus to the market growth. Some of the other factors contributing to the market growth include the rising popularity of liquor-based premium chocolates and the increasing uptake of premium textured chocolates that are fortified with high-quality nuts, grains, and cereals.
- Based on the product type, the market has been divided into dark chocolate, milk chocolate, white chocolate and others.
- On the basis of the packaging type, the market has been bifurcated into standard and gift packaging.
- Based on the distribution channel, the market has been classified into supermarkets and hypermarkets, convenience stores, specialty stores, online stores, and others.
- On the geographical front, the market has been segmented into Germany, France, the United Kingdom, Italy, Spain, Switzerland, Belgium, Netherlands, Poland, Russia and others.
- The competitive landscape of the industry has been examined in the report with the detailed profiles of the key players. Some of these players include Cemoi Group, Chocoladefabriken Lindt & Sprüngli AG, Hershey Company, Ferrero International S.A., Mars Incorporated, Mondelez International Inc, Nestlé S.A., Neuhaus (United Belgian Chocolate Makers), Pierre Marcolini Group and Pladis Global (Yildiz Holding).
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