Global White Chocolate Market: Overview
White chocolate—the confectionary product produced by grinding or mixing cocoa butter with sweeteners and dairy ingredients, is a widely popular variety of chocolate and finds usage across a number of recipes other than the usual demand for the product in its most basic or lightly flavored form. The market has a large consumer base and continues to expand on account of the vast health benefits of white chocolate.
The global market for white chocolate has expanded at an excellent pace in the past few years and is likely to exhibit a steady rise over the next few years as well. The report includes detailed insights into the past and present growth dynamics of the market, along with vast projections regarding the future growth potential of the market over the period between 2017 and 2025. The report provides vast insights into a number of aspects of the industry and an analysis of the key factors that are crucial to the development of the market over the said period.
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Global White Chocolate Market: Trends and Opportunities
The global market for white chocolates has benefitted in the past years owing to factors such as rising awareness regarding the health benefits of chocolate in general, rising disposable incomes of people in emerging economies, and easy availability of international brands in new regional markets. The rising numbers of hypermarkets and supermarkets and the increased penetration of the e-commerce sector in the retail industry in emerging economies of India, China, Brazil, Mexico, and countries across the Middle East and Africa have also benefitted the market.
However, the market has been, and continues to be, challenged by the high preference of consumers to dark chocolate, a factor that has vast negative implications for the overall global demand and consumption of white chocolate. Nevertheless, the market sees promise due to improved distribution channels, rising innovations in the packaging sector, increased focus of companies on enriching the nutritional value of products, and the thriving gifting industry. The increased availability of white chocolates across restaurants and coffee shops is also expected to work in favor of the market.
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Global White Chocolate Market: Geographical and Competitive Dynamics
From a geographical standpoint, the report covers the market for white chocolate across region such as Europe, North America, Asia Pacific, South America, and Middle East and Africa. Presently, the markets in Europe and North America are the leading consumers as well as producers and importers of white chocolate owing to the presence of several renowned companies in the regions. The extensive usage of white chocolates in food preparations and for celebrations also works in favor of the market for white chocolates. The market in Asia Pacific and Middle East and Africa is expanding at a significant pace owing to the thriving industry for confectionary and bakery products. In the next few years, the market for white chocolate in Asia Pacific is likely to become one of the key contributors of revenue to the global white chocolate market.
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The global market for white chocolate features a large number of international as well as regional companies. Some of the leading and most influential companies in the market are Barry Callebaut, GCPPL Ltd., Mars Incorporated, Agostoni Chocolate, Blommer Chocolate Company, Mondelez International, Unilever, Kraft Heinz Company, Nestle SA, The Hershey Company, Ghirardelli Chocolate Co., Chocoladefabriken Lindt & Sprüngli AG, Ferrero, Chocolatiers (UK) Ltd, Green and Black’s, and Montezuma’s.