(Food-Beverage-News.Com, March 21, 2018 ) The Global Chocolate Based Spreads Market was worth USD xx billion in 2017 and estimated to be growing at a CAGR of xx%, to reach USD xx billion by 2022. Chocolate spread is a sweet chocolate-flavoured paste which is eaten mostly spread on toasts and breads or similar grain products such as waffles, muffins, pancakes, and pitas.
Although chocolate spreads taste, smell, and look like chocolate, they do not solidify, even at room temperature. The paste typically contains cocoa and palm or vegetable oil, and is also likely to contain sugar, milk and additional flavours. At times, it also includes nuts such as ground hazelnuts or honey. Chocolate spread is normally sold in plastic tubs or glass jars.
The key driving factors of global Chocolate Based Spreads market are shifting consumer taste preferences and growing spending on chocolate and other confectionary products. Growing urbanization, widespread availability of chocolate and growing awareness about the various health benefits which can be obtained from the consumption of chocolate and derived products will remain another key factor fuelling the market for chocolate based spreads globally. The chief constraint of the market is uncertain economy of the cocoa supply which is likely to raise chocolate prices.
The global Chocolate Based Spreads market is segmented based on type into milk chocolate, dark chocolate, and white chocolate. Milk chocolate is expected to have the largest share in the segment. By frequency of sale, the market is categorised into premium chocolate, daily chocolate, and seasonal chocolate. Daily chocolate leads the market in this segment. By distribution channel, the market is divided into supermarkets and hypermarkets, grocery stores, speciality stores and online retail.
The Global Chocolate Based Spreads market is divided based on geography into North America, Latin America, Asia-Pacific, Middle East and Africa and Europe. North America has the leading market for Chocolate Based Spreads in the world, which is followed by Europe and Asia Pacific regions. Asia Pacific region is expected to have the fastest growth rate during the forecast period, which can be attributed to rising economies in developing parts of the region such as China and India.
Some of the major players in the market are J.M. Smucker, Kraft Foods, Unilever Group, ConAgra Foods Inc., Ferrero Group, Hershey Co., B & G Foods Inc., Nestle, Wellness Foods and Premier Foods among others.
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