Growing demand for chocolates across the world, premiumization of wine chocolates, and lucrative product packaging are driving the global wine chocolate market.
PORTLAND, OR, UNITED STATES, December 24, 2021 /EINPresswire.com/ – The Global wine chocolate market was estimated at $ 752.0 million in 2020 and is expected to reach $ 1473.4 million by 2030, registering a CAGR of 7.2% from 2021 to 2030. The report provides an in-depth analysis of the major pockets of investment, top winning strategies, drivers and opportunities, market size and estimates, competitive scenario and varying market trends.
Growing demand for chocolates across the world, premiumization of wine chocolates, and lucrative product packaging are driving the global wine chocolate market. On the other hand, low consumer awareness and dynamic fluctuations in commodity prices hamper growth to some extent. However, the emergence of organic products is expected to create lucrative opportunities for the major players in the industry.
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Travel restrictions imposed by the majority of government agencies during the pandemic have resulted in the drop in exports and imports of cocoa beans across the world.
In addition, the disrupted supply chain hampered production. In addition, the closure of restaurants, bars, supermarkets and specialty chocolate shops had a negative impact on the global wine chocolate market, especially during the initial phase.
Nonetheless, as the global situation improves, the market is expected to pick up soon.
The global wine chocolate market is analyzed by type, shape, distribution channel and wine region.
Based on wine type, the red wine segment accounted for almost half of the total market share in 2020 and is expected to reign on the roost by 2030. The white wine segment, however, would achieve the highest CAGR. rapid 7.7% throughout the forecast period. .
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Based on form, the liquid segment contributed around four-fifths of total market revenue in 2020 and is expected to lead the way by 2030. The solid segment, however, is said to have the fastest CAGR of 7.7 % during the forecast period.
Based on region, the market across Europe held the major share in 2020, garnering around two-fifths of the global market. Asia-Pacific, on the other hand, is said to exhibit the fastest CAGR of 11.4% throughout the forecast period. Other provinces discussed in the report include North America and LAMEA.
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The major market players analyzed in the Global Wine Chocolate Market report are Duc d’O, Alfred Ritter, NEUHAUS, Toms International, Underberg AG, Ferrero Spa, Yildiz Holdings, Amedei Toscane, Halloren, and Raaka. These market players have adhered to several strategies including partnership, expansion, collaboration, joint ventures and others to prove their flair in the industry.
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