Portland, OR, Nov. 15, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global wine chocolate market was estimated at $752.0 million in 2020 and is expected to hit $1473.4 million by 2030, registering a CAGR of 7.2% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and varying market trends.
Growing demand for chocolates across the globe, premiumization of wine chocolates and lucrative packaging of the products drive the global wine chocolate market. On the other hand, low consumer awareness and dynamic price fluctuations of the raw materials impede the growth to some extent. However, emergence of organic products is expected to create lucrative opportunities for the key players in the industry.
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COVID-19 scenario-
- The travelling restrictions imposed by the majority of government bodies during the pandemic resulted in the fall of export and imports of cocoa beans across the world.
- Also, the disrupted supply chain hampered the production. Further, the closure of restaurants, bars, supermarkets, and chocolate specialty stores impacted the global wine chocolate market negatively, especially during the initial phase.
- Nevertheless, as the global situation is getting better, the market is projected to revive soon.
The global wine chocolate market is analyzed across wine type, form, distribution channel, and region.
Based on wine type, the red wine segment accounted for nearly half of the total market share in 2020, and is expected to rule the roost by 2030. The white wine segment, however, would garner the fastest CAGR of 7.7% throughout the forecast period.
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Based on form, the liquid segment contributed to around four-fifths of the total market revenue in 2020, and is projected to lead the trail by 2030. The solid segment, however, would exhibit the fastest CAGR of 7.7% during the forecast period.
Based on region, the market across Europe held the major share in 2020, garnering around two-fifths of the global market. Asia-Pacific, on the other hand, would manifest the fastest CAGR of 11.4% throughout the forecast period. The other provinces discussed in the report include North America and LAMEA.
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The key market players analyzed in the global wine chocolate market report include Duc d’O, Alfred Ritter, NEUHAUS, Toms International, Underberg AG, Ferrero S.p.a., Yildiz Holdings, Amedei Tuscany, Halloren, and Raaka. These market players have adhered to several strategies including partnership, expansion, collaboration, joint ventures, and others to prove their flair in the industry.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
