The global wine chocolate market size was valued at $752.0 million in 2020, and is estimated to reach $1473.4 million by 2030, registering a CAGR of 7.2% from 2021 to 2030.
Wine chocolate is a blend of chocolate and wine available in two forms – drinkable liquid and chewable bars or cubes. Chocolate and wine are considered to be very healthy and similar as both of them are made with fruits, added with various natural ingredients to produce a new form. The most popular combination is the dark chocolate with red wine. Further, there are many recipes available for wine infused chocolate that serves as a dessert and wine at the same point of time.
Wine Chocolate is gaining traction among the consumers owing to the rising awareness regarding the health benefits associated with the consumption of wine chocolates. Wine chocolate helps to reduce bad cholesterol, it lowers blood pressure, improves blood circulation, helps in weight loss, and maintains the health of the heart. Further, the perfect combination of the wine and chocolate is attracting the wine enthusiasts to try wine chocolates. The wine chocolate is gaining rapid traction among the young population and couples as wine chocolate serves as a perfect gifting item in certain occasions like Valentine’s Day and candle light dinners. These are the major factors boosting the global wine chocolate demand among the consumers.
The outbreak of the COVID-19 pandemic negatively impacted the wine chocolate market in 2020. The travelling restrictions imposed by the government resulted in the fall of the export and imports of cocoa beans, a major raw material used for making chocolate. The disrupted supply chains hampered the production. Further, the closure of restaurants, bars, supermarkets, and chocolate specialty stores negatively impacted the wine chocolate market during the pandemic.
By Wine Type
White wine segment is expected to grow at highest CAGR of 7.7% during the forecast period
According to the wine chocolate market analysis, the market is segmented on the basis of wine type, form, and distribution channel. On the basis of wine type, the market is segmented into white wine, red wine, and others. Based on the form the market is segregated into solid and liquid. Depending upon the distribution channel, the market is categorized into supermarkets/hypermarkets, convenience stores, specialty stores, and online stores. Region wise, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, Belgium, France, UK, Italy, Spain, Switzerland, and rest of Europe), Asia-Pacific (China, Japan, India, Singapore, and rest of Asia-Pacific), and LAMEA (Brazil, United Arab Emirates, and rest of LAMEA).
As per the wine chocolate market forecast, based on the form, the liquid segment dominated the market in 2020, garnering largest global wine chocolate market share. This is attributable to the increased demand for the liquid wine chocolate among the consumers as an after dinner drink. The solid segment is expected to be the fastest-growing segment owing to its rising demand among the chocolate lovers owing to its bud satisfying taste and rising demand for premium chocolate products among the young individuals.
Solid segment is expected to grow at highest CAGR of 7.7% during the forecast period.
According to the wine chocolate market trends, based on the wine type, the red wine segment dominated the market with a highest market share in 2020. The red wine is extremely popular among the consumers and it is one of the most desirable type of wine consumers prefers to have it combined with dark chocolate. Therefore, its immense popularity has made this segment the market leader and is expected to sustain its position during the forecast period.
Depending upon the distribution channel, the e-commerce segment is estimated to foresee the highest wine chocolate market growth rate during the forecast period. This is because of the rising adoption of smart devices, rising penetration of internet, and growing popularity of various food delivery platforms and e-commerce platforms across the globe.
By Distribution Channel
Online stores segment is expected to grow at highest CAGR of 8.1% during the forecast period.
Region wise, Europe dominated the global wine chocolate market. This is attributable to the increased per capita consumption of wine and chocolates in the top European countries such as Germany, France, Italy, Portugal, Sweden, and Switzerland. The wine chocolate is gaining rapid traction among the European consumers, and Europe is expected to retain its leading position throughout the forecast period. North America is estimated to be the fastest-growing market owing to the rising awareness regarding the wine chocolates, demand for healthy food, and rising demand for the premium and luxury products among the population.
Players operating in the global market have adopted various developmental strategies to expand their market share, exploit the wine chocolate market opportunities, and increase profitability in the market. The key players profiled in this report include Underberg AG, Duc d’O, Alfred Ritter, NEUHAUS, Raaka, Toms International, Ferrero S.p.a., Yildiz Holdings, Amedei Tuscany, and Halloren.
Asia-Pacific dominates the market and is expected to grow at highest CAGR of 11.4% during the forecast period.
Key Benefits For Stakeholders
- The report provides a quantitative analysis of the current market trends, estimations, and dynamics of the market size from 2020 to 2030 to identify the prevailing opportunities.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
- In-depth analysis and the market size and segmentation assist to determine the prevailing market opportunities.
- The major countries in each region are mapped according to their revenue contribution to the market.
- The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the wine chocolate industry.
Wine Chocolate Market Report Highlights
By Wine Type
By Distribution Channel
Key Market Players
Neuhaus, Alfred Ritter GmbH & Co. KG, Toms International, Raaka, Yildiz Holdings, Halloren, Duc d'O, Underberg AG, Ferrero Spa, Lindt & Sprungli
Based on insights by the top CXOs, the rising demand for the organic food & beverage products will propel the demand for the organic wine chocolate market, which are produced through organic farming especially in Europe and North America. According to the Organic Trade Association (OTA), the demand and sales of the organic food and non-food products is at its peak in the U.S. The U.S. witnessed a record high sale of organic products in 2020. Hence, the wine chocolate manufacturers are constantly taking efforts to source organically produced raw materials such as cocoa, grapes, and other ingredients essential for making wine and chocolates. Organic wines and organic chocolates are produced with the grapes and cocoa beans, which are grown organically and all the additives in the wines (fining agents, and yeast) are organic. There is no GMO or any other prohibited ingredients that are allowed including sulfur additions. Further, change in habits of wine consumers and rise in preference for organic chocolates and wine boost the growth of the market. Also, wine chocolate consumers are inclined toward healthy wine chocolate products that increases the demand for organic wine chocolates in the market. In addition, Europe is the largest producer of organic wines and the largest consumer of organic chocolates and it has 90% of the global organic wine production. Spain, Italy and France are the top wine producers and the top chocolate consumers. Therefore, there is an increase in the consumption of organic wine chocolate as there are many wine growing areas that focus on the production of red wine using organic methods. This in turn boosts the demand for red wine chocolate in the market.