SEATTLE, April 17, 2019 (GLOBE NEWSWIRE) -- The global chocolate and gourmet dates market was valued at US$ 103.89 Billion in 2017 and is projected to exhibit a CAGR of 5.1% over the forecast period (2019 – 2026).
Key Trends and Analysis of the chocolate and gourmet dates market:
Increasing awareness about health benefits related to chocolate and gourmet dates is fueling growth of the chocolate and gourmet dates market. For instance, chocolates contain antioxidants called flavonoids, most notably epicatechin, catechin, and procyanidins. High intake of foods containing flavonoids such as cocoa, are associated with reduced risk of death caused by heart disease. As per the U.S. Department of Agriculture's nutrient database, a standard bar of dark chocolate with 70% to 85% cacao contains around 600 calories and 24 grams of sugar.
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Furthermore, increasing demand for date-based products, along with various chocolate festivals such as Chocolate Week, London, U.K., Le Salon du Chocolat, Paris, France, Chocoa Festival, Amsterdam and chocolate factory tours being organized, demand for chocolates and gourmet dates is expected to increase further during the forecast period.
Various key players are focused on increasing their online consumer base and global footprint by adopting strategies such as partnerships with e-commerce companies. For instance, in 2016, Mondelez partnered with Alibaba Group, an e-commerce company. This will enable Mondelez to expand its reach and penetrate the China market through the e-commerce platform. Moreover, Mondelez partnered with Amazon to set up a virtual chocolates and sweets store. The store will focus on the gifting segment and tailor-made offerings for individual customers.
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Key Market Takeaways:
- The global chocolate and gourmet dates market is expected to exhibit a CAGR of 5.1% during the forecast period (2019–2026)
- Europe held a significant market share in the global chocolate and gourmet dates market in 2017, owing to growing tourism, increasing chocolate festivals, and major tourist attraction towards chocolate factory tours organized by major chocolate manufacturers in this region such as Lindt & Sprungli AG, Ferrero Group, and others.
- Chocolate shows and events are a major tourist attraction globally. Few of these events include Chocolate Show New York, Choco-Late Festival: Brugge, Belgium, Chocolate Fest: St. Stephen, New Brunswick, Chocolate Rush Festival: Melbourne, Chocolate Week, London, U.K., Le Salon du Chocolat, Paris, France, Chocoa Festival, Amsterdam, chocolART, Tübingen, Germany, and others.
- Moreover, increasing export of chocolates from Europe is expected to boost the potential market for chocolate and gourmet dates. For instance, as per the International Trade Centre, in 2017, Germany, Belgium, Italy, and the Netherlands exported chocolates worth US$ 4.8 billion, US$ 3 billion, US$ 2 billion, and US$ 2 billion, respectively.
- Some of the major players operating in the global chocolate and gourmet dates market include Mars Inc., Nestle S.A., Mondelez International, Ferrero Group, Godiva, Bateel International L.L.C., AL FOAH, Doyen Foods, Flyberry Gourmet, Sharjah Dates Factory, and others.
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