Global chocolate confectionery studies forecasts market rise to $118 billion by 2031

Latest studies have valued the global confectionery market as reaching a value of $118.6 billion over the next six years, with product innovation and gifting driving the sector’s anticipated growth, writes Neill Barston. The analysis from Allied Market Research, anticipated CAGR of 4% until 2031, against a backdrop of consistently shifting consumer tastes and habits that the organisation believed remains pivotal to expansion of the industry. As part of its evaluation, the business assessed major players including Barry Callebaut, Chocoladefabriken Lindt & Sprüngli AG, Delfi Limited, Ferrero International S.A, Lotte Corporation, Mars, Incorporated, Mondelez International, Inc, Nestle S.A, Perfetti Van Melle, and The Hershey Company. Notably, the research highlighted a megatrend of organic and premium chocolate confectionery that it observed had attracted a wider range of consumers, with many shoppers considered as being willing to pay more for organic ranges with perceived health ...