In 2016, the global chocolate confectionery market size was valued at USD 123.7 billion and is expected to grow at a compound annual growth rate (CAGR) of 2.5 percent during 2018-2025, according to recent research. The research cites the decline in the prices of cocoa beans as being a favorable impact on market growth. Per the Financial Times, in 2017 the prices of cocoa beans fell by around 40 percent.
Some companies, such as Ferrero India, have been focusing on marketing and promotional activities to increase brand engagement, which market research forecasts will increase the demand for chocolate confectionery products. Companies in the market are also focusing more on promoting product lines that are free of trans fats, saturated fat, and artificial flavors and sweeteners in favor of ingredients such as organic wheat flour, can sugar, rice syrup, and corn syrup. Research shows this is likely to be a vital impact driver due to the growing health consciousness among consumers. Among other things, market research also shows that countlines dominated the global chocolate confectionery market in 2016, as it is an easy snacking option which can be eaten on-the-go.
