Almost everyone, right from kids to adults has their special preference for chocolates. Some prefer chocolates with dry fruits while some enjoy white & dark chocolates and among all of them, milk chocolate has gained attractiveness among the large pool of the population. Milk chocolate is generally enjoyed because of its texture and flavor.
The growing use of milk chocolate in confectionery products and beverages including hot chocolate, croissants, and cakes is escalating the growth of the global milk chocolate market. Further, studies have shown that milk chocolate may boost brain function, make the heart healthy, slow signs of aging, lower blood pressure, and reduce stress. Additionally, there is availability of a wide range of products made from milk chocolate to fulfill the dessert cravings and satisfy the sweet tooth of the consumer. All such factors and the increase in the use of milk chocolate in the cosmetic and personal care sector are driving the growth of the global market. Moreover, the presence of a strong distribution channel, changing food habits, effective advertising strategies, and growing trend of gifting chocolates on special occasions are some of the factors that are augmenting the growth of the global market. Also, new product launches by the major players such as launch new chocolate variant ‘Cadbury Dairy Milk Silk Mousse’ by Mondelez India in January 2021 are boosting the growth of the global market. Furthermore, the emergence of milk chocolate made from plant-based milk for the vegan population and the consumers who want to avoid dairy products may open several opportunities for the growth of the global market during the forecast period.
The global milk chocolate market is classified based on form, nature, distribution channel, application, and region. Based on the form, the global market is categorized into chocolate chips, chocolate coated nuts, candies, bar, and others. The nature segment consists of conventional and organic. The distribution channel comprises online stores, convenience stores, specialty stores, supermarkets/hypermarkets, and others. The application segment is bifurcated into food & beverages, pharmaceuticals, and personal care & cosmetics.
Geographically, Europe is predicted to account for the maximum share in the global market during the forecast period. An increase in use of milk chocolate in confectionary products and rise in production of milk chocolate in countries like Germany & France is fueling the overall market growth in this region. Asia Pacific market is expected to rise significantly owing to growing consumption of milk chocolate and increase in demand for milk chocolate based personal care products.
The key players that are operating in the global milk chocolate market are Ferrero SpA, Stella Bernrain, Barry Callebaut, Godiva Chocolates, Lindt, Blommer Chocolate Company, Mondelez International, Kinder Chocolate, Nestle S.A., and Ezaki Glico Co., Ltd., among others.
Having a Master’s Degree in Brewing Technology and overall experience of 6 years in the field of writing, Jerri has been one of the most workaholic and dedicated team members of thefoodbeveragenews.com portal. She has been a part of this portal for 4 years now. Jerri started a career in writing with freelancing and the journey has been worth watching and appraising. She handles the Beverage Industry domain of the portal and along with her team provides all the vital and up-to-the-minute news and reports to the readers in a simple and comprehensible manner.