Crunchy Chocolate Market Report, Growth Trends, Share, Size, Growth 2017-2022
The global crunchy chocolate market has witnessed a healthy growth over the past few years. Some of the major driving factors include product premiumisation, thriving fast-food industry and expanding distribution channels.
IMARC Group’s latest report, titled “Crunchy Chocolate Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022”, finds that the global crunchy chocolate market reached a value of more than US$ 2 Billion in 2016, growing at a CAGR of around 7% during 2009-2016. Crunchy chocolate refers to thin, flat and crispy wafer bars that are coated with chocolate. At times, nuts, dried fruits and cereals are also added to enhance its flavour. The popularity of crunchy chocolates has resulted in the manufacturing of organic chocolate, vegan gluten-free chocolate and energy bars for the health-conscious consumers.
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Highlights of the Global Crunchy Chocolate Market:
Expanding distribution channels and thriving fast-food industry are the primary growth driving factors.
Western Europe holds the majority of the global share, representing the largest market.
The market is further expected to reach a value of more than 3 Billion by 2022.
The global crunchy chocolate market has numerous factors stimulating its growth. A large population has a personal preference for crunchy chocolates, resulting in its augmented demand. In addition, product innovations have added to the popularity of crunchy chocolates as they are now used to outline pie crusts and consumed as a side food item with beverages such as coffee and smoothies. Some of the other growth inducing factors are increasing disposable incomes, premiumisation of product, thriving fast-food industry, expanding distribution channels, rising urbanization rates and easy availability. According to the report, the market is further expected to reach a value of more than 3 Billion by 2022.
The market has been segmented on the basis of distribution channels, covering super and hyper markets, convenience stores and non-grocery retailers. On the basis of region, Western Europe represents the largest market for crunchy chocolates, accounting for nearly a third of the total share. The other major markets include North America, Eastern Europe, Asia, Latin America, Middle East and Africa and Australasia.
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The report has examined the global crunchy chocolate market on the basis of:
Super and hyper markets
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