SOUTH KOREA CHOCOLATE MARKET - GROWTH, TRENDS, AND FORECAST

(2020 - 2025)

South Korea Chocolate Market is segmented by Type (Milk/White Chocolate, Dark

Chocolate); by Product ( Softlines/ Selflines, Boxed Assortments, Countlines, Seasonal
Chocolates, Molded Chocolates, Others); by Distribution Channel (Supermarkets/
Hypermarkets, Specialist Retailers, Convenience Stores, Online Channels, Other
Distribution Channels)

Market Overview

South Korea Chocolate Market is projected to reach USD 602 million by 2024,
growing at a CAGR of 2.12% over the forecast period (2019-2024)

 South Korea consumed an average of 607 grams of chocolate per year, which
is expected to increase. Import of chocolate increased per year in the
country with total imported chocolate in 2015 reached USD 211 million, up
27% from 2011.
 Increased demand for premium chocolate brands and boxed assortments is
the key factor driving the chocolate market. Innovation in product
packaging, chocolate with toys is gaining popularity among adults as well.
Growing demand for imported chocolate owing to premium varieties is
further accelerating the market growth.

Modern Grocery Channels Boosting the Market Sales

Convenience, ease of searching, billing, wide selection of products and discounts

and promotion fueled the retail chocolate sale. Convenience stores and
supermarket is growing at a steady rate while online sales have recorded an
impressive growth rate. Supermarket/hypermarkets led the sale in the distribution
channel. Expanding retail chain in the country has driven the market. Convenience
Stores is another growing retail channel in South Korea. Consumers
impulse purchasing behavior of chocolates is driving convenience stores sale.
Online sales recorded an impressive growth of 200% during 2012-2017.
 Major Players

1. Lotte co. Ltd

2. Hershey Company
3. Mars
4. Ferrero
5. Crown Confectionery

Home » Chocolate Market United States, List of best chocolates in US

Chocolate Market United States, List of best chocolates in US

July 14, 2018 2 Comments

Are you a chocolate lover or dream of starting your chocolate store someday? Then continue
reading this insightful post about how large is the chocolate market United States.

How Large is the Chocolate Market United States?

As per the survey conducted by consumer research firm Packaged Facts it was
found that nearly 80% of U.S. adult consumers eat chocolates.
the National Institute of Mental Health has indicated that the anxiety
disorders are affecting 40 million adults in U.S., which comprises 18% of its
total population.
Consuming chocolate boosts brain serotonin and acts as an anti-depressant. It
also releases endorphins in the body, which has a feel-good effect. These
factors are expected to drive demand in U.S. for chocolates

 As indicated by a research report in 2017, it was found that chocolate

sales in the United States was around 22.4 billion U.S. dollars.
 Among the leading chocolate companies in the U.S. are Hershey and
Mars, accounting to around 44 percent and 29 percent of the market,
respectively.
 The United States is the world’s largest chocolate market which is is
estimated to reach $30 billion by 2021.
 During the previous year 65% of U.S. chocolate income was in the
seasonal and countline segments. The majority of chocolates were
purchased by the consumers at the supermarkets and retails stores.

Demand for Premium Chocolates

The demand for sugar free, premium and dark chocolates is on the rise among
customers. Additionally customers are looking for chocolates with
antioxidants.

Premium chocolate segment account for 18% of dollar sales. In spite of the
fact that the chocolates business is dominated by a couple of huge behemoths,
a group of influential premium chocolate makers also contribute to the
competitive chocolate market.

As we can see premium chocolate market United States is expanding and it

can be a huge opportunity for entrepreneurs focusing on the premium
chocolate segment.

Home » Chocolate Market United States, List of best chocolates in US

Chocolate Market United States, List of best chocolates in US

July 14, 2018 2 Comments

Are you a chocolate lover or dream of starting your chocolate store someday? Then continue
reading this insightful post about how large is the chocolate market United States.
How Large is the Chocolate Market United States?

The total sales of chocolates in the United States stood at US $22.4 billion U.S. dollars.

Chocolate is among the most favorite flavors of american consumers and an ongoing research
continues to demonstrate the health benefits of chocolates, further boosting its appeal.

As per the survey conducted by consumer research firm Packaged Facts it was found that
nearly 80% of U.S. adult consumers eat chocolates.

According The National Confectioners Association reports that 52 percent of Americans

claim chocolate as their favorite flavor.

The National Institute of Mental Health has indicated that the anxiety disorders are affecting
40 million adults in U.S., which comprises 18% of its total population.

Consuming chocolate boosts brain serotonin and acts as an anti-depressant. It also releases
endorphins in the body, which has a feel-good effect. These factors are expected to drive
demand in U.S. for chocolates.

Chocolate market in the United States has been consistently growing over the past
few years.

 As indicated by a research report in 2017, it was found that chocolate sales in the United
States was around 22.4 billion U.S. dollars.
 Among the leading chocolate companies in the U.S. are Hershey and Mars, accounting to
around 44 percent and 29 percent of the market, respectively.
  The United States is the world’s largest chocolate market which is is estimated to reach $30
billion by 2021.
 During the previous year 65% of U.S. chocolate income was in the seasonal and countline
segments. The majority of chocolates were purchased by the consumers at the supermarkets
and retails stores.

The United States exported $1.6 billion in chocolate and confectionery products in 2016,
accounting for 10 percent of U.S. chocolate and confectionery output.

From 2007 to 2014, the U.S. chocolate and confectionery export value grew steadily, rising
from $775 million in 2007.

Canada received 40 percent of the United States chocolate and confectionery exports,
followed by Mexico (13 percent), South Korea (4 percent), Japan (3 percent), the Philippines
(3 percent) and Brazil (2 percent).

Some interesting facts about the Chocolate Market United States

Demand for Premium Chocolates

The demand for sugar free, premium and dark chocolates is on the rise among customers.
Additionally customers are looking for chocolates with antioxidants.

Premium chocolate segment account for 18% of dollar sales. In spite of the fact that the
chocolates business is dominated by a couple of huge behemoths, a group of influential
premium chocolate makers also contribute to the competitive chocolate market.

As we can see premium chocolate market United States is expanding and it can be a huge
opportunity for entrepreneurs focusing on the premium chocolate segment.

The Packaged Facts survey found that 48% of U.S. customers bought dark chocolate in the
previous year.

The Dark Chocolate Consumption Trend

Dark chocolate fits pleasantly within the ‘clean eating’ trend. Since dark chocolate was found
to have numerous health benefits, consumers can enjoy dark chocolate guilt-free.

Halloween Chocolate Sales

Chocolate sales is on the rise year-on-year during the Halloween season. Chocolate candy is
the top selling Halloween treat.
 In fact, the top four marketers of seasonal Halloween chocolate account for almost 98% of
the segment’s dollar sales.

Chinesse chocolate market

Boxed Assortments lead the chocolate market in China with almost 50% share. On
a per capita basis, the level of chocolate consumption in China still has plenty of
room to grow in comparison to the global level. With more top international
chocolate makers tapping into the Chinese market, their growth engines rely
heavily on the high-end and super high-end segments, where sales have soared as
a result of the rapid overall consumption upgrade in China. Boxed assortments
remain a holiday gift staple and are sold in high volume during holidays and festival
season. When buying Boxed chocolate there are many factors which drive
consumers choices like brand equity, preference of the recipient, the person
making the gift, occasion, price point, and packaging. Manufacturers are
increasingly launching Boxed chocolates with attractive packaging and chocolates
for special occasions.

Major Players

1. Mars
2. Ferrero Group
3. Nestle
4. Yildiz Holdings
5. Mondelez International