(Food-Beverage-News.Com, September 19, 2018 ) Chocolate Powdered Drinks Market was worth USD xx billion in 2018 and estimated to be growing at a CAGR of xx%, to reach USD xx billion by 2023. Chocolate powdered drinks are mixed with either hot water or milk to prepare instant chocolate based drinks. They are served both hot or cold. They have a good taste and flavour which attracts consumers of all age groups.
Growing urbanization along with a rise in the disposable incomes acts as a major factor for the growth of the market. There has been a growing impact of western culture which further drives the market. There has been recent innovation in the market and various health benefits by addition of dry fruits and herbs has been reported in turn fuelling market growth. Due to hot and humid climatic region of the world, the cocoa market is facing a significant challenge which in turn acts as a restraint for market growth.
The market for Chocolate Powdered Drinks is broadly categorized into type, end user and distribution channel. By type the market is divided into dark chocolate drink, milk chocolate drink and white chocolate drink. By end users the market is classified into energy drinks, milk beverages, cappuccino mixes, protein shakes and chocolate drinks. By distribution channel the market is segmented into supermarkets and hypermarkets, convenience stores, speciality stores, online stores. On the basis of geography, the market is analysed under various regions namely North America, Europe, Asia-Pacific and Rest of the World. Africa produces a major share of cocoa seeds while Brazil remains the largest market for the consumption of chocolate powdered drinks. North America and Europe remain significant markets.
Some of the key participating players in chocolate powdered drinks globally are Mondelez, Nestlé S.A., Gatorade, Mars Inc., GlaxoSmithKline Plc, PepsiCo Inc., Kanegrade Ltd, and others.
