Tag: Convenience Store

Chocolate Market Size Worth $187.08 Billion By 2027

The global chocolate market size is expected to reach USD 187.08 billion by 2027, expanding at a CAGR of 4.6% over the forecast period, according to a new report by Grand View Research, Inc. Growing awareness about health benefits of chocolate among consumers as a result of increased number of advertising campaigns on social websites and satellite television channels is expected to have a positive impact on the market growth. Chocolates are associated as the token of appreciation, love, happiness, and celebration owing to which increasing number of consumers are gifting such confectioneries on special occasions, including Thanksgiving, Easter, and Christmas.

Fluctuating price of raw material is a key factor influencing the cost of production of the chocolate industry, thereby influencing the profitability of the manufacturers. The cocoa plantation requires specific weather conditions. Cocoa is a sensitive plant that grows in the tropical climate and needs proper vegetation shades to yield better quality seeds owing to which its planation is concentrated in West Africa.

Traditional chocolate held the largest share of 99.4% in 2019. Artificial products are expected to expand at the highest CAGR of 11.9% from 2020 to 2027. Carob bars are similar to chocolate bars in terms of the number of calories, fat, cholesterol, and carbohydrates. The absence of caffeine is a factor that makes it different from cocoa, which makes it suitable for people sensitive or intolerant to caffeine. Carob is also naturally sweet and hence requires a low amount of sugar for preparing the final product.

Europe held a leading share of 39.8% in 2019. Growing consumption of dark chocolate owing to associated health benefits is a main factor fueling the chocolate market growth in the region. Middle East and Africa is expected to witness the fastest growth owing to increasing number of specialty retail stores in countries, such as UAE and South Africa.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/chocolate-market

Further key findings from the report suggest:

  • By product, the artificial segment is expected to expand at the highest CAGR of 11.9% from 2020 to 2027. Growing importance of carob as a healthy alternative to cocoa-based chocolate is expected to remain a key factor for the segment growth over the next few years
  • In terms of distribution channel, the supermarket and hypermarket segment accounted for the largest share of more than 65% in 2019. This is attributed to high product visibility, coupled with, increasing number of department and specialty stores in emerging economies, such as China and India
  • Online distribution channel is expected to register the fastest CAGR of 5.6% from 2020 to 2027. This is attributed to increased importance of such channels for providing extra-convenience features, including doorstep delivery and coupon benefits
  • Europe held the largest share of 39.8% in 2019. Growing popularity of dark chocolate among consumers in developed countries, including Germany, U.K., and France, is expected to be a major factor contributing to the regional market growth.

Frozen Bakery Market Size Worth $10.50 Billion by 2025

The global frozen bakery market size is expected to reach USD 10.50 billion by 2025, according to a new report by Grand View Research, Inc. It is anticipated to register a CAGR of 4.8% during the forecast period. Increasing demand for processed food owing to the fast-paced lifestyle is the major driving factor for the growth. Availability of foods with longer perishability and easy storage is also expected to drive the product demand in near future.

Expansion of distribution channels such as supermarkets and hypermarkets, convenience stores, and online grocery and bakery chains are some of the other driving factors for the market. For instance, in Mexico, these distribution channels contributed to more than 60% retail sales for bakery products in 2017. Convenience stores and supermarkets and hypermarket retailers are the commonly preferred sales medium in Mexico. This scenario is also expected to boost the market growth over the next few years.

Among various product types, frozen bread accounted for the largest market share of about 29.11% in 2018 and is expected to expand at a CAGR of 4.5% during the forecast period. Despite the dip in the sales of bread, frozen bread market in the U.S. witnessed a significant demand over the past few years. Increasing international population seeking healthy bakery products is expected to support the market growth.

Europe held the largest market share of about 34.5% in 2018. The major countries contributing to the growth include Germany, U.K., and France. Germany held the largest share of the frozen bakery market in 2018 and is expected to continue its dominance in Europe during the forecast period. Increasing trade activities of frozen pizza products is expected to contribute to the growth. North America was estimated to hold the second largest revenue share, primarily driven by the significant demand for processed food products as a result of busy lifestyles.

Some of the key players operating in the global market include, Kellogg Company; Cargill Corporation; Conagra Brands Inc.; Custom Foods, Inc.; Vandemoortele N.V.; Bridgford Foods Corporation; Associated British Foods plc; General Mills, Inc.; Europastry; Cole’s Quality Foods Inc.; and Flowers Foods; among others. 

Click the link below:
https://www.grandviewresearch.com/industry-analysis/frozen-bakery-market

Further key findings from the study suggest:

  • Frozen bread was estimated to account for the highest revenue share of about 32.5% in 2018
  • Frozen cakes and pastries and pizza are expected to witness significant CAGR of 5.1% and 6.0% respectively, during the forecast period
  • Supermarkets and hypermarkets accounted for a revenue share of more than 55% in 2018, thereby having a value worth USD 4.39 billion in 2018
  • Online distribution channel of frozen bakery market is expected to register the fastest CAGR of 6.2% from 2019 to 2025
  • Asia Pacific is expected to expand at a CAGR of 5.6% from 2018 to 2025, owing to developing economies, significant influence of western culture in terms of living standards and food patterns, and rising disposable income