Global Organic Chocolate Spreads Market by Product (Dark, Hazelnut) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global organic chocolate spreads market was valued at USD 571 million in 2020. It is expected to grow at an annual compound growth rate (CAGR of 4.8%) between 2021 and 2028. Over the past few years, the industry has seen steady growth due to increasing consumer awareness about the health benefits of these products and constant product innovation. Product sales are also influenced by the increasing demand for Ready-To-Eat products (RTE). The COVID-19 pandemic, which struck the market in 2020, was just like other parts of the food and beverage industry. The global reduction in chocolate consumption has had a profound effect on the market. The reopening offline distribution channels, particularly in North America and Asia, will ensure that the market regains its prominence.

One of the most significant developments in the chocolate sector is the increase in organic product preference. Globally, consumers are choosing healthier food over traditional indulgences. Despite their delicious taste and luxe appeal, chocolate spreads generally are not considered healthy.

Consumers around the world are increasingly interested in organic products due to the many health benefits, especially the dark chocolate varieties. As organic spreads become an indispensable breakfast item, their demand will likely be driven by consumer interest in low-calorie options throughout the forecast period.

In recent years, there have been many product launches and industry innovations. In February 2021, Valeo Foods (an Irish multinational food and beverage company) launched ChocoBee. This product is 100% sustainably sourced. The brand's first venture beyond honey-based products was also marked by the launch of this new product line.

Market growth will also be supported by buyers' increasing preference for nutrient rich products, due to their growing importance in health and well-being. Over the last few years, organic spreads have been in high demand. To gain maximum consumer interest, organic products have been launched by many brands and start-ups.

Product Insights

In 2020, the hazelnut product category accounted for more than 38% of total revenue. Hazelnut is good for your heart and has many nutrients, including vitamins, minerals and antioxidant compounds. These are some of the main reasons for the product's popularity. Experts recommend hazelnut as a source of dietary fiber, which helps regulate bowel movements. Manufacturers are incorporating hazelnut in as many food products as possible because of consumers' desire to eat it.

The fastest expected growth is in the dark chocolate segment during the forecast period. The richness of dark chocolate-based varieties is due to their high levels of minerals like calcium and iron as well as vitamins. A high amount of cocoa in dark chocolate can provide many health benefits, including better heart health and brain function. Dark chocolate is a popular choice for consumers who like a bitter taste and a lower amount of sugar than other types of chocolate spreads. Askinosie Chocolate and Biona offer dark chocolate spreads that are suitable for daily consumption.

Distribution Channel Insights

In 2020, hypermarkets and supermarkets had a greater than 51% revenue share in the global market. Hypermarkets and supermarkets are self-service superstores selling a wide range of products, including food, household goods, and organic foods like chocolate spreads. Supermarkets can meet all your needs under one roof.

Many international and local brands sell conventional and organic chocolate spreads in hypermarkets and supermarkets. These stores are located in central areas of cities and attract large numbers of customers. These stores offer customers the opportunity to choose products from different brands, with prices varying depending on which brand they are.

Online distribution channels are expected to grow at the fastest rate between 2021 and 2028. E-commerce has gained popularity over the years because it is convenient. Online shopping is becoming more popular as buyers around the globe are turning to it for all their daily needs, including groceries, organic products, and personal care items.

Due to the COVID-19 pandemic consumers are changing their shopping habits. They prefer to shop online because it allows them to avoid direct contact. The industry's key players are creating HTML3_ e-commerce HTML3_ HTML4_ websites in lucrative markets. Digital explosion has occurred in many industries, including the organic food industry.

Regional Insights

In 2020, Europe held more than 44% of the global market. Europe is home to some of the most lucrative countries in the world, including Spain, Russia and Switzerland, which have large exports. Europe is the largest producer of chocolate and has the highest number of organic certified businesses that also produce spreads. The region's market growth will be supported by the growing number of organic and fair-trade cocoa producers and the increasing sales of organic products. The product will also be in high demand due to the large millennial and Gen Z populations.

Asia Pacific will be the fastest growing regional market with a CAGR at 5.7% during the forecast period. The market is expected to grow due to rising product demand and a greater focus on origin or sourcing by millennials. Due to the presence of many international and regional players, the regional market is highly competitive and fragmented. Many international brands are expanding into countries like China and Japan to gain market share and explore new growth opportunities. To capture significant market share, major brands have integrated social media campaigns with celebrity endorsements.

Market Share Insights & Key Companies

This market is highly competitive due to the presence of many small- and medium-sized regional players. To meet changing consumer needs, companies have launched new products. Choco Group, UAB, launched organic chocolate spreads in November 2020 under the Mulate brand. These spreads come in various flavors including caramel, hemp, blackcurrant and nut. Violife launched Cocospread in the U.K. in August 2020. It is an organic and vegan chocolate spread that is dairy-, gluten, and soya-free. Cocospread has been certified vegan, halal and kosher. The following are some of the major players in the global market for organic chocolate spreads:

• Nutiva, Inc.

• Rigoni di Asiago

• Phalada Pure & Sure

• Askinosie Chocolate, LLC

• The Organic Family Ltd. (Mr. Organic).

• Cocofina

• Mason & Co.

• BIONA

• Artisana Organics

• Pana Organic

Up Market Research published a new report titled “Organic Chocolate Spreads Market research report which is segmented by Product (Dark, Hazelnut), By Players/Companies ASKINOSIE CHOCOLATE, Rigoni di Asiago, Cocofina, Nutiva Inc, The Organic Family Ltd (Mr Organic), LLC, BIONA, Pana Organic, Artisana Organics, Mason & Co, Phalada Pure & Sure”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Organic Chocolate Spreads Market Report Segments:

The market is segmented by Product (Dark, Hazelnut).

Organic Chocolate Spreads Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Organic Chocolate Spreads Market

Overview of the regional outlook of the Organic Chocolate Spreads Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Organic Chocolate Spreads Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Organic Chocolate Spreads Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Dark

                2. Hazelnut

7. Market scenario by region, sub-region, and country.
8. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
9. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
10. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Organic Chocolate Spreads Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

How you may use our products:

• Correctly Positioning New Products
• Market Entry Strategies
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• Understanding Competition Scenario
• Product & Brand Management
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Reasons to Purchase the Organic Chocolate Spreads Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.