According to Market Research Future (MRFR), the Global Covid-19 Analysis on Organic Chocolate Market is anticipated to amass substantial valuation, expanding at a CAGR of 2.5% by 2023. Organic chocolates market 2020 is estimated to expand significantly owing to its chemical-free nature.
Organic chocolates are believed to lower blood pressure and elevate the mood, consequently spiking the demand and production. The extensive application of organic chocolates in confectionery, food and beverage, and pharmaceuticals industries are anticipated to enhance its demand relentlessly during the forecast period. In addition, the increased disposable income, impulsive buying, and rising health awareness are predicted to surge the demand, thereby augmenting the market growth.
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On the contrary, high prices associated with dark chocolates are likely to deter the market growth. However, environment-friendly nature, introduction of new flavors, along with aforementioned factors are projected to counter hampering factors, considerably boosting the demand during the forecast period.
The renowned players of the Global Covid-19 Analysis on Organic Chocolate Market are Newman’s Own (U.S.), Green & Black’s (U.K.), Artisan Confections Company (U.S.), Alter Eco (France), TAZA Chocolate (U.S.), HOCOLAT BERNRAIN AG/ CHOCOLAT Stella SA (Switzerland), Lake Champlain Chocolates (U.S.), Kicking Horse Chocolate Co. Ltd. (Canada), Endangered Species Chocolate, LLC. (U.S.), and Luigi Lavazza S.P.A. (Italy).
The Segment analysis of the Global Organic Chocolate Market is done by distribution channel and type.
The distribution channel-based segments of the global organic chocolate market are store-based and non-store based. Between these two segments, the store-based channel is expected to lead the organic chocolate market. On the other hand, the non-store-based channel is likely to experience a high growth rate during the review period.
The type-based segments of the global organic chocolate industry are dark, milk, white, and others. Among all segments, the milk organic chocolate is projected to dominate the market.
Based on the region, Global Covid-19 Analysis on Organic Chocolate Market is segmented into North America, Europe, Asia-Pacific, and the MIDDLE East & Africa.
As per the analysis by MRFR, the global organic chocolate industry is projected to be dominated by North America owing to the increasing health concern in the region. Further, the region is likely to show growth owing to the increased health condition. The growing health benefits of organic chocolates, with the presence of developed economies, are likely to fuel the regional market substantially during the forecast period. The U.S. is estimated to play a vital role in amplifying the market.
The second position is likely to be acquired by Europe. The region is projected to witness growth during the forecast period owing to the increasing awareness about the health benefits of organic chocolate. Further, the other benefits of organic chocolates, such as its environment friendliness and chemical-free nature is projected to propel the regional market. Germany and France are predicted to play a vital role in fueling the market during the review period.
The APAC region is estimated to be the fastest-growing Covid-19 Analysis on Organic Chocolate Market during the forecast period owing to the presence of developing economies such as India and China. Increasing awareness about organic food with growing disposable income are predicted to magnify the market during the assessment period. Further, the health benefits of organic chocolates with its increasing preference if projected to grow the market during the review period.
In the MEA region, Ivory Coast and Ghana are projected to be the leading suppliers of cocoa beans to various regions. The region is likely to witness substantial growth during the forecast period.
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