Drinking Chocolate Market Opportunities 2031
The Drinking Chocolate Market is expected to register a CAGR of 3.8% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
This report, on the global Drinking Chocolate market, provides market estimates, in US dollars (US$) for the periods 2021-2031, for the categories Type/Variety, Distribution Channel, and Region. It also includes an analysis of consumption patterns and consumer preferences for the different types of drinking chocolate in the various countries and sub-regions, and explains the details of the competitive attributes, in a manner that is easy to understand, for the benefit of the global manufacturing and packaging industries.
Purpose of the ReportThe report Drinking Chocolate Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Drinking Chocolate Market Segmentation
Cocoa Content- 30%-40%
- 40%-60%
- 60%-90%
- Supermarket
- Retail store
- Online retail
Strategic Insights
Drinking Chocolate Market Growth Drivers- Popularity of premium beverages: The Drinking Chocolate Market is skyrocketing primarily owing to the rising popularity of premium and gourmet beverages among consumers. The constant need to be comforted and indulged in food and drinks, including chocolate beverages, has boosted the consumption of drinking chocolate.
- Rise in at-home consumption: The rise in at-home consumption and the popularity of ‘me time’ with the emergence of different self-care rituals such as journaling and bubble baths is providing a huge boost to the market growth, mainly for gourmet drinking chocolate products – including the promotion of different DIY drinking chocolate recipes.
- Speciality drinks preferences: Furthermore, the increasing popularity of the specialty coffee shops and cafés that encourage customers to try different ‘chocolate flavoured’ hot chocolate beverages, infused with aromatic syrups andnluxurious toppings such as whipped cream, marshmallows, chocolate pearls and chocolate shavings, is propelling market growth.
- Introducing Healthy and Nutritious formulations: Drinking Chocolate Market trends are centred around introducing healthy and nutritious formulations. Over the years, there has been an increased focus of low-sugar, plant-based and functional drinks, courtesy constant health concerns by the consumers. Innovations by manufacturers are rampant with addition of superfoods and adaptogens to drinking chocolates.
- Demand for Specialised ingredients: There is high demand of special ingredients such as CBD, cacao powder, goji berries, turmeric, and other superfood globally has benefitted the industry. Owing to the added health benefits, premium drinking chocolates are selling more across online retailing platforms that have made it more convenient to access such products by the consumers.
- Sustainable Sourcing: The demand for sustainably-sourced ingredients has also been at an all-time high. In this section of the report, we discuss these key trends and more, providing an insight into the Drosing Chocolate Market’s dynamics from various angles which help readjust your product strategy over the coming years to overcome the challenges.
- Growth in Emerging Markets: With disposable incomes on the rise in the Asia-Pacific, Latin America, and African regions, the demand for indulgent beverages like drinking chocolate increases. This is enhanced by the increased penetration of Western-style cafes and restaurants into these markets.
- Focus on Health and Wellness Trends: The demand for healthier alternatives is opening the door for low-sugar, dairy-free, and vegan drinking chocolate products. Brands that can respond to health-conscious consumers through fortified or functional formulations - for example, added protein or adaptogens - can capture a growing niche.
- Growth in E-Commerce and Online Retail: Platforms for e-commerce growth give small to medium-sized brands access to global markets. Direct-to-consumer channels and subscription-based models for specialty drinking chocolate are also on the rise- convenience and personalization being an irresistible combination.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Drinking Chocolate Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Drinking Chocolate Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
The market is expected to register a CAGR of 3.8% during 2023–2031
The market is also driven by consumer demand for gourmet and indulgent food products, which is propelled by higher disposable income and increasing consumer purchasing power. The trend toward premiumization and the growing popularity of comfort food are further catalysts of consumer interest in high-quality cocoa products such as drinking chocolate.
The Drinking Chocolate Market is economically forecasted to see an upsurge, due to a steadily rising demand for gourmet and artisanal products. An increasing range of health-related innovations, such as low-sugar or vegan products, as well as exotic and innovative flavours and blends, are also slated to boom.
leading market players are - Mars, The Simply Good Foods Company, Mondelez International, The Hershey Company, Nestle, Godiva, Lavazza, Starbucks Corporation, Unilever, PepsiCo
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
Some of the customization options available based on request are additional 3–5 company profiles and country-specific analysis of 3–5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Drinking Chocolate Market - By Cocoa Content
1.3.2 Drinking Chocolate Market - By Distribution Channel
1.3.3 Drinking Chocolate Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. DRINKING CHOCOLATE MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. EXPERT OPINIONS
5. DRINKING CHOCOLATE MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. DRINKING CHOCOLATE MARKET - GLOBAL MARKET ANALYSIS
6.1. DRINKING CHOCOLATE - GLOBAL MARKET OVERVIEW
6.2. DRINKING CHOCOLATE - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. DRINKING CHOCOLATE MARKET - REVENUE AND FORECASTS TO 2028 - COCOA CONTENT
7.1. OVERVIEW
7.2. COCOA CONTENT MARKET FORECASTS AND ANALYSIS
7.3. 30%-40%
7.3.1. Overview
7.3.2. 30%-40% Market Forecast and Analysis
7.4. 40%-60%
7.4.1. Overview
7.4.2. 40%-60% Market Forecast and Analysis
7.5. 60%-90%
7.5.1. Overview
7.5.2. 60%-90% Market Forecast and Analysis
8. DRINKING CHOCOLATE MARKET - REVENUE AND FORECASTS TO 2028 - DISTRIBUTION CHANNEL
8.1. OVERVIEW
8.2. DISTRIBUTION CHANNEL MARKET FORECASTS AND ANALYSIS
8.3. SUPERMARKET
8.3.1. Overview
8.3.2. supermarket Market Forecast and Analysis
8.4. RETAIL STORE
8.4.1. Overview
8.4.2. retail store Market Forecast and Analysis
8.5. ONLINE RETAIL
8.5.1. Overview
8.5.2. online retail Market Forecast and Analysis
8.6. OTHERS
8.6.1. Overview
8.6.2. others Market Forecast and Analysis
9. DRINKING CHOCOLATE MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Drinking Chocolate Market Overview
9.1.2 North America Drinking Chocolate Market Forecasts and Analysis
9.1.3 North America Drinking Chocolate Market Forecasts and Analysis - By Cocoa Content
9.1.4 North America Drinking Chocolate Market Forecasts and Analysis - By Distribution Channel
9.1.5 North America Drinking Chocolate Market Forecasts and Analysis - By Countries
9.1.5.1 United States Drinking Chocolate Market
9.1.5.1.1 United States Drinking Chocolate Market by Cocoa Content
9.1.5.1.2 United States Drinking Chocolate Market by Distribution Channel
9.1.5.2 Canada Drinking Chocolate Market
9.1.5.2.1 Canada Drinking Chocolate Market by Cocoa Content
9.1.5.2.2 Canada Drinking Chocolate Market by Distribution Channel
9.1.5.3 Mexico Drinking Chocolate Market
9.1.5.3.1 Mexico Drinking Chocolate Market by Cocoa Content
9.1.5.3.2 Mexico Drinking Chocolate Market by Distribution Channel
9.2. EUROPE
9.2.1 Europe Drinking Chocolate Market Overview
9.2.2 Europe Drinking Chocolate Market Forecasts and Analysis
9.2.3 Europe Drinking Chocolate Market Forecasts and Analysis - By Cocoa Content
9.2.4 Europe Drinking Chocolate Market Forecasts and Analysis - By Distribution Channel
9.2.5 Europe Drinking Chocolate Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Drinking Chocolate Market
9.2.5.1.1 Germany Drinking Chocolate Market by Cocoa Content
9.2.5.1.2 Germany Drinking Chocolate Market by Distribution Channel
9.2.5.2 France Drinking Chocolate Market
9.2.5.2.1 France Drinking Chocolate Market by Cocoa Content
9.2.5.2.2 France Drinking Chocolate Market by Distribution Channel
9.2.5.3 Italy Drinking Chocolate Market
9.2.5.3.1 Italy Drinking Chocolate Market by Cocoa Content
9.2.5.3.2 Italy Drinking Chocolate Market by Distribution Channel
9.2.5.4 United Kingdom Drinking Chocolate Market
9.2.5.4.1 United Kingdom Drinking Chocolate Market by Cocoa Content
9.2.5.4.2 United Kingdom Drinking Chocolate Market by Distribution Channel
9.2.5.5 Russia Drinking Chocolate Market
9.2.5.5.1 Russia Drinking Chocolate Market by Cocoa Content
9.2.5.5.2 Russia Drinking Chocolate Market by Distribution Channel
9.2.5.6 Rest of Europe Drinking Chocolate Market
9.2.5.6.1 Rest of Europe Drinking Chocolate Market by Cocoa Content
9.2.5.6.2 Rest of Europe Drinking Chocolate Market by Distribution Channel
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Drinking Chocolate Market Overview
9.3.2 Asia-Pacific Drinking Chocolate Market Forecasts and Analysis
9.3.3 Asia-Pacific Drinking Chocolate Market Forecasts and Analysis - By Cocoa Content
9.3.4 Asia-Pacific Drinking Chocolate Market Forecasts and Analysis - By Distribution Channel
9.3.5 Asia-Pacific Drinking Chocolate Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Drinking Chocolate Market
9.3.5.1.1 Australia Drinking Chocolate Market by Cocoa Content
9.3.5.1.2 Australia Drinking Chocolate Market by Distribution Channel
9.3.5.2 China Drinking Chocolate Market
9.3.5.2.1 China Drinking Chocolate Market by Cocoa Content
9.3.5.2.2 China Drinking Chocolate Market by Distribution Channel
9.3.5.3 India Drinking Chocolate Market
9.3.5.3.1 India Drinking Chocolate Market by Cocoa Content
9.3.5.3.2 India Drinking Chocolate Market by Distribution Channel
9.3.5.4 Japan Drinking Chocolate Market
9.3.5.4.1 Japan Drinking Chocolate Market by Cocoa Content
9.3.5.4.2 Japan Drinking Chocolate Market by Distribution Channel
9.3.5.5 South Korea Drinking Chocolate Market
9.3.5.5.1 South Korea Drinking Chocolate Market by Cocoa Content
9.3.5.5.2 South Korea Drinking Chocolate Market by Distribution Channel
9.3.5.6 Rest of Asia-Pacific Drinking Chocolate Market
9.3.5.6.1 Rest of Asia-Pacific Drinking Chocolate Market by Cocoa Content
9.3.5.6.2 Rest of Asia-Pacific Drinking Chocolate Market by Distribution Channel
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Drinking Chocolate Market Overview
9.4.2 Middle East and Africa Drinking Chocolate Market Forecasts and Analysis
9.4.3 Middle East and Africa Drinking Chocolate Market Forecasts and Analysis - By Cocoa Content
9.4.4 Middle East and Africa Drinking Chocolate Market Forecasts and Analysis - By Distribution Channel
9.4.5 Middle East and Africa Drinking Chocolate Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Drinking Chocolate Market
9.4.5.1.1 South Africa Drinking Chocolate Market by Cocoa Content
9.4.5.1.2 South Africa Drinking Chocolate Market by Distribution Channel
9.4.5.2 Saudi Arabia Drinking Chocolate Market
9.4.5.2.1 Saudi Arabia Drinking Chocolate Market by Cocoa Content
9.4.5.2.2 Saudi Arabia Drinking Chocolate Market by Distribution Channel
9.4.5.3 U.A.E Drinking Chocolate Market
9.4.5.3.1 U.A.E Drinking Chocolate Market by Cocoa Content
9.4.5.3.2 U.A.E Drinking Chocolate Market by Distribution Channel
9.4.5.4 Rest of Middle East and Africa Drinking Chocolate Market
9.4.5.4.1 Rest of Middle East and Africa Drinking Chocolate Market by Cocoa Content
9.4.5.4.2 Rest of Middle East and Africa Drinking Chocolate Market by Distribution Channel
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Drinking Chocolate Market Overview
9.5.2 South and Central America Drinking Chocolate Market Forecasts and Analysis
9.5.3 South and Central America Drinking Chocolate Market Forecasts and Analysis - By Cocoa Content
9.5.4 South and Central America Drinking Chocolate Market Forecasts and Analysis - By Distribution Channel
9.5.5 South and Central America Drinking Chocolate Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Drinking Chocolate Market
9.5.5.1.1 Brazil Drinking Chocolate Market by Cocoa Content
9.5.5.1.2 Brazil Drinking Chocolate Market by Distribution Channel
9.5.5.2 Argentina Drinking Chocolate Market
9.5.5.2.1 Argentina Drinking Chocolate Market by Cocoa Content
9.5.5.2.2 Argentina Drinking Chocolate Market by Distribution Channel
9.5.5.3 Rest of South and Central America Drinking Chocolate Market
9.5.5.3.1 Rest of South and Central America Drinking Chocolate Market by Cocoa Content
9.5.5.3.2 Rest of South and Central America Drinking Chocolate Market by Distribution Channel
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. DRINKING CHOCOLATE MARKET, KEY COMPANY PROFILES
11.1. GODIVA
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. LAVAZZA
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. MARS
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. MONDELEZ INTERNATIONAL
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. NESTLE
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. PEPSICO
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. STARBUCKS CORPORATION
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. THE HERSHEY COMPANY
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. THE SIMPLY GOOD FOODS COMPANY
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. UNILEVER
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
2. Lavazza
3. Mars
4. Mondelez International
5. Nestle
6. Pepsico
7. Starbucks Corporation
8. The Hershey Company
9. The Simply Good Foods Company
10. Unilever
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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