Milk chocolate is solid chocolate produced with milk in multiple forms such as milk powder, liquid milk, and condensed milk. Milk chocolate is sweet that contains cocoa butter, sugar, and milk, but no cocoa solids. Semisweet chocolate does not contain milk solids. Couverture is a term used for chocolates rich in cocoa butter. Moreover, in accordance with EU Regulations, milk chocolates consist of 25% cocoa solids.
The market is witnessing stringent growth, owing to health benefits offered by milk chocolate. In addition, various R&D studies have identified that milk chocolate boosts memory and reduces the risk of heart attacks & strokes, which fuel the market growth. In addition, milk chocolates effectively hydrate & smoothen skin, sharpens memory, and improves the overall efficiency of immune system, which fuel its demand, thereby driving the market growth. In addition, flavonoids, a type of antioxidants found in milk chocolate stimulate the flow of blood by removing free radicals, which propels the growth of the market. In addition, increase in disposable income of consumers in regions of Asia-Pacific is expected to supplement the market growth. Furthermore, multinational brands such as Mondelez and Hersheys have gained popularity in these countries, owing to change in taste preferences and increase in brand loyalty, which accelerate the market growth. However, fluctuating price of cocoa is expected to restrain the market growth.
The report segments the market on the basis of type, distribution channel, application geography. Based on type, the market is categorized into nuts milk chocolate, liqueur milk chocolate, and others. By distribution channel, it is classified into supermarkets/hypermarkets, specialty stores, convenience stores, online stores, and others. In terms of application, it is bifurcated into residential and commercial. Geographical breakdown of the market includes North America, Europe, Asia-Pacific, and LAMEA.
Some Of The Key Players In The Global Market Include:
- Ferrero SpA
- Ezaki Glico Co., Ltd.
- Nestle S.A.
- Kinder Chocolate
- Mondelez International
- Blommer Chocolate Company
- Godiva Chocolates
- Barry Callebaut
- Stella Bernrain
- This report provides a quantitative analysis of the current trends and estimations from 2017 to 2023 of the global milk chocolate market to identify the prevailing market opportunities.
- Major countries in each region are mapped according to individual market revenue.
- Comprehensive analysis of factors that drive and restrict the market growth is provided.
- An in-depth analysis of current research & clinical developments within the market is provided with key dynamic factors.
- Key players and their key developments in the recent years are listed.
Milk Chocolate Market Key Segments:
- Nuts Milk Chocolate
- Liqueur Milk Chocolate
By Distribution Channel
- Specialty Stores
- Convenience Stores
- Online Stores
- North America
- Rest of Europe
- Rest of Asia-Pacific
- South Africa
- Rest of LAMEA