New York, USA, March 22, 2022 (GLOBE NEWSWIRE) -- A new report on the global wine chocolate market has been added by Research Dive to its repository. As per the report, the market is expected to garner $1,219.5 million by 2028, growing at a CAGR of 7.0% from 2021 to 2028. This report provides thorough insights into the present condition and future outlook of the global industry. The report is drafted by professional market analysts and assures to be a reliable source of data and detailed market insights for new players, investors, prevailing market players, stakeholders, shareholders, etc.
Factors Impacting the Wine Chocolate Market Growth:
A significant surge in the awareness among consumers about the health benefits of wine chocolate consumption and growing demand for flavored chocolates by consumers owing to different taste preferences are boosting the growth of the global wine chocolate market. Furthermore, the growing enhancements in the prevailing wine chocolate products, as well as novel product launches by chocolate makers, is projected to give rise to profitable opportunities for market growth during the forecast period. However, high prices of wine chocolate products are anticipated to hinder market growth.
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COVID-19 Pandemic Impact on the Wine Chocolate Market:
The outbreak COVID-19 pandemic has negatively impacted the growth of the global wine chocolate market. As people are focusing on essential items and health and wellbeing, the demand for luxurious products like wine chocolates has significantly dropped amidst the pandemic. In addition, the manufacturing of wine chocolates has been hindered owing to lack of raw material supply, disruptions in supply chain and transportation, and lack of workforce during the pandemic.
Key Wine Chocolate Market Segments:
The report segments the global wine chocolate market into product form, wine type, sales channel, and region.
Solid Wine Chocolate Sub-Segment to Dominate the Wine Chocolate Market
Among the product form segment, the solid wine chocolate sub-segment is projected to observe significant growth by garnering $693.4 million in the projected period. The growth of this sub-segment is mostly because of the growing demand for solid form of wine chocolates as this type of chocolates are greatly favored by people as an ideal item to gift to their friends and families on occasions such as festivals, birthdays, and marriages.
Red Wine Chocolate Sub-Segment to Observe Highest Growth
Among the wine type segment, the red wine chocolate sub-segment of the global wine chocolate market is expected to observe significant growth and garner $776.7 million during the forecast period. The growth of this sub-segment is mostly because of the great demand for red wine-based products owing to the various health benefits of consuming red wine.
Supermarkets/Hypermarket Sub-Segment to Witness Improved Growth
Among the sales channel segment, the supermarkets/hypermarket sub-segment is projected to observe remarkable growth by garnering $622.6 million in the projected period. The growth of this sub-segment is mostly because of the convenience supermarkets/hypermarkets offer for the consumers in picking the best and preferred products.
Asia-Pacific Region Wine Chocolate Market to Grow Rapidly
The report analyses the global wine chocolate market across several regions such as North America, Europe, Asia Pacific, and LAMEA. Among these, the Asia Pacific region market is expected to garner a revenue of $311.0 million during the estimated timeframe. The growth of this region's market is mainly owing to the growing number of flavored chocolate consumers in nations such as China and Japan in this region.
Region: Asia-Pacific has Highest revenue Growth in the Estimated Timeframe
Major Players in the Wine Chocolate Market:
The report lists some of the leading players functioning in the global wine chocolate industry including
- Underberg AG
- Duc d’O
- Halloren
- Alfred Ritter
- NEUHAUS
- Toms International
- Raaka
- Ferrero S.p.a.
- Amedei Tuscany
- Yildiz Holdings, and others.
The report also offers several industry-top tactics and approaches such as top strategic moves & developments, product/service range, business performance, Porter five forces analysis, and SWOT analysis of the foremost players, functioning in the global industry. - Inquire & Get Quick Access to the Development Countries Strategy report
For instance, in February 2021, Sula Vineyards, a top producer of the best wines in India, launched dark vegan chocolate infused with wine flavors.
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- Partnerships Like that of Raaka Chocolate and Willa’s Kitchen to Drive the Global Wine Chocolate Market
- 5 Rarely Known Health Benefits of Wine Chocolates
- The Wine Chocolate Market Projected To Grow At A CAGR Of 7.0% And Garner A Revenue Of $1,219.50 Million In The 2021-2028 Timeframe
