Published on : Apr 12, 2018
Albany, New York, April 12, 2018: Over the years, milk chocolate is one of the most indulgent product of the dairy and chocolate industry. Changing tastes of consumers will drive the evolution of milk chocolate in the future, due to the research in new formulations to extend their scope in terms of flavor, taste and nutrition. Market Research Hub (MRH) has publicized a study titled “Milk Chocolate Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2026” to its massive database, which is a professional and in-depth analysis on the current state and future prospect of the milk chocolate market until the end of 2026. This 170-page study has been analyzed on the basis of product type, form, application, sales channel and their regional as well as national markets in terms of revenue (US$ Mn) and CAGR.
Milk chocolate is one of the most preferred chocolates in the world. The principal ingredients of milk chocolate are sugar, chocolate liquor, and cocoa solids. Today, milk chocolate products have evolved to a substantial extent, and contain additional ingredients such as milk solids, cocoa butter and lecithin. It has been clearly stated in the study that the manufacturing of milk chocolate is majorly influenced by the growing demand for a variety of flavors to satisfy the taste buds of diverse consumer bases across the globe.
In order to capture a global understanding, the report has computed its market size forecasts in terms of volumes (tons) across various geographies, such as North America, Latin America, Japan, Europe, MEA and APEJ.
Some of the major findings observed from the study include-
According to the research prime findings, the global milk chocolate market will be worth over US$ 95 billion by the end of 2026. Also, the global market will reflect a robust CAGR of 6.2% in terms of value over the mentioned forecast period, 2017-2026.
The analysts of the report further evaluated that majority of milk chocolate will be produced and consumed in Europe, followed by North America and the Asia-Pacific excluding Japan (APEJ) region. The report estimates that during the period of assessment, 2017-2026, the milk chocolate market in Europe will reflect high value growth at a CAGR of 6.8%.
From food & beverages to pharmaceuticals, and even cosmetics, milk chocolate has spanned its applications across diverse industry verticals. The research broadly categorized on the basis of product type into conventional and organic milk chocolate. Major forms of milk chocolate are the bar, candies, chocolate coated nuts, chocolate chips and other. It has been stated that the consumption of conventional products is expected to remain considerably higher than organic products during the forecast period.
Nestlé SA, Chocoladefabriken Lindt & Sprüngli AG, Unilever, Barry Callebaut, Ferrero SpA, and Chocolatiers (UK) Ltd. are some of the key players in the global milk chocolate market.
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