Key vendors strategically increase product sales by appealing to the impulse-buying tendency among consumers.
Technavio, a company that develops over 2000 pieces of research every year and covers more than 500 technologies across 80 countries, has announced the top five leading vendors for the global chocolate market in their latest research report. This report also lists 7 other prominent vendors who are expected to contribute to this market’s growth between 2016-2020.
To identify the top vendors, Technavio’s market research analysts have taken into account the revenue generated by the sales of chocolates to individual consumers based on retail format market segmentation, which include:
- Supermarkets and hypermarkets
- Independent retailers
- Convenience stores
- Specialist retailers
- Others (cash and carry retailers, online sales, and discount retailers)
This Technavio report, under food vertical, is based on the synthesis, analysis, and interpretation of information about the global chocolate market collected from specialized sources. The analysts have derived insights using a mix of primary and secondary research with an aim to provide a holistic picture of the market.
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Competitive vendor landscape
The global chocolate market includes a large number of regional as well as international players, which makes it a very dynamic market. The competition in the market is intensifying with a large number of players offering differentiated products and portfolios and competitive pricing. The US and Europe has the maximum number of leading chocolate vendors. These vendors are planning to strategically expand their businesses in the emerging countries in Africa and APAC. With growing competition, the market has witnessed increased consolidation. A growth is seen in private labels in the market.
“The recent new marketing initiatives is a major trend that will drive this market’s growth prospects over the next four years. In order to increase the popularity of their products and to reach out to the consumers, the vendors in the market are coming up with new marketing and advertising initiatives,” says Manjunath Reddy, a lead analyst at Technavio for research on food.
Top five vendors in the global chocolate market space
Ferrero
Ferrero is one of the major players in the chocolate market in Europe and North America. The company is a distributor of chocolates which includes chocolates, cream spreads, sugar confectionery, and drinks. In order to expand its reach in the market, the company has taken various strategic initiatives.
Some of the key products: Raffaello, Ferrero Egg, Ferrero Rocher, Ferrero Rondnoir, etc.
Hershey’s
Hershey’s,one of the leading players in the global confectionery market, has more than 80 brands, some of the iconic brands of which are Jolly Rancher, Hershey’s, Reese’s, Hershey’s Kisses, Ice Breakers, and Brookside. Products such as syrups, candies, bars, baking products, and spreads are offered by the company.
Some of the key products: Hershey’s Air Delight Aerated Milk Chocolate Bars, Hershey’s Milk Chocolate Bar, Mr. Goodbar Milk Chocolate Bar, etc.
Mars
Mars manufactures and markets food products, confectionery, and pet care products. The company operates through over 143 different sites. It includes research and development facilities and manufacturing sites in more than 73 countries. It has presence in Africa, Europe, Australia, Asia, and North and South America.
Some of the key products: 3 Musketeers, Bounty, Dove, American Heritage, etc.
Mondelēz International
Mondelēz International is one of the largest players in the snack segment. Its brands span five sectors viz., biscuits; cheese and grocery; beverages; gum and candy; and chocolates. The company has also invested heavily in expanding its advertising and marketing to enhance brand presence across digital media and e-commerce.
Some of the key products: FREIA, Cadbury Eclairs, Alpen Gold, Côte d’Or, etc.
Nestlé
Nestlé offers food and beverages on a global level. The portfolio of Nestlé includes baby foods, bottled water, cereals, chocolate and confectionery products, coffee, culinary products, chilled and frozen foods, coffee creamers, drinks, shelf stable products, healthcare nutrition products, ice creams, pet care products, and weight management products offered by various brands.
Some of the key products: Butterfinger, Cailler, Aero, Wonka, etc.
A more detailed analysis is available in the Technavio report, Global Chocolate Market 2016-2020. Technavio also customize reports by other regions and specific segments upon request.
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