Introduction / Market Synopsis:
Large organized stores mainly offer truffle chocolates. The major distribution outlets are supermarkets and hypermarkets that make truffle chocolates easily accessible to customers. The number of supermarkets in the United States increased from 36,149 in 2011 to 38,571 in 2017, recording growth of 1.09 percent by a CAGR. Certain countries with a high degree of penetration are US, France, Germany, Italy, Spain, Australia, Poland, Japan, South Korea, Turkey, Brazil, and China.
During the period 2018-2022, the global Truffle Chocolate market is expected to post a CAGR of nearly 5 percent. Growth in integrated retail outlets is a key factor driving market growth. With the establishment of supermarkets, drug stores, convenience stores, hypermarkets, and specialty stores, organized retailers have grown around the world. Consumers are looking for premium products because they are associated with higher quality, specific origin, fine flavors and have ingredients that are exotic and ethically sourced.
Request a Free Sample Report, Click Here @ https://www.wiseguyreports.com/sample-request/4498702-global-truffle-chocolate-market-professional-survey-report-2019
The improved lifestyle of customers is driving demand for luxury and luxurious confectionery products due to rising disposable income and growing health consciousness. Several retailers have introduced their premium products exclusively for elite customers. Premium confectionery manufacturers such as truffles and pralines are experimenting with new flavors and multicultural ingredients to comply with consumer preferences. New premium confectionery products are gaining popularity among customers with reduced sugar and fat levels. However, a fluctuating price range from the past decade has been witnessed by Cocoa, an important component essential for the production of truffle chocolate. The high price of cocoa raises the unpredictable cost of chocolate production.
The following manufacturers are covered:
Lindt & Sprungli
Teuscher Chocolates of Switzerland
The Secret Truffletier
Vermont Truffle Company
The Truffle Chocolate market, including packaged assortments and seasonal truffle chocolates, can be segmented by brand. The Truffle chocolate market can be divided geographically into APAC, EMEA, and the Americas. In 2017, the EMEA region led the market with a market share of approximately 48 percent, followed respectively by the Americas and APAC. The Americas, however, is expected to record the highest incremental growth over the forecast period, followed by the APAC region.
In the current scenario, North America is the major revenue contributor. The growth in North America is followed by Europe. The United States alone generates a demand in billions of pounds every year. The growth of truffle chocolate market dwells mostly in the Asia-Pacific region, which is being led by heavily populated nations such as China and India. A growth in this market for truffle chocolate can be attributed to rising disposable income, improving lifestyles and change in tastes.
The declining consumption of sugar confectioneries can be witnessed because of health consciousness of Consumers. This trend has driven more consumers away from sugar products. In addition, the decline in the world sugar and cocoa prices has led to a decline in product prices over the period, which has put downward pressure on revenue and profit. Overall, growth in global chocolate demand and increased candy consumption in emerging markets has mitigated declines in prices and adverse currency fluctuations.
Company Name: Wiseguyreports.com
Contact Person: Norah Trent
Email: Send Email
Phone: +1 646 845 9349, +44 208 133 9349