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Report
Milk Chocolate Market Report by Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Non-Grocery Retailers, and Others), and Region 2024-2032
Market Report I 2024-04-08 I 142 Pages I IMARC Group
The global milk chocolate market size reached US$ 63.0 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 84.0 Billion by 2032, exhibiting a growth rate (CAGR) of 3.1% during 2024-2032.
Milk chocolate is one of the most popular cocoa products made from a mixture of sugar, chocolate liquor and condensed milk or whole milk powder. As compared to plain or dark chocolate, milk chocolate melts easily and has a lighter color and a creamier texture. The consumption of milk chocolate helps in boosting memory, smoothening and hydrating the skin, reducing the risk of heart strokes and attacks, and improving the immune system. In addition, it is a rich source of flavonoids, a type of antioxidants, which eliminate free radicals from the blood stream and improve the blood flow. On account of these benefits, coupled with the rising purchasing power of the consumers, there has been an increase in the consumption of milk chocolate across the globe.
Global Milk Chocolate Market Drivers:
In recent years, manufacturers have started introducing new variants of milk chocolate by combining it with other food items such as orange, caramel, cookies and nuts. Apart from this, they have also launched products in different shapes and sizes such as bars, chips, cubes and wafers. The availability of these variants has given a rise to the overall consumption of milk chocolate. Moreover, milk chocolate is increasingly being used for the formulation of a wide range of beverages and confectionery products, such as cakes, milkshakes, croissants and hot chocolate, which is contributing to the growth of the global milk chocolate market. However, a shift in consumer preferences towards dark chocolate, which is perceived to offer superior health benefits, can pose a threat to the consumption of milk chocolate in the upcoming years.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global milk chocolate market report, along with forecasts at the global and regional level from 2024-2032. Our report has categorized the market based on distribution channel.
Breakup by Distribution Channel:
Supermarkets and Hypermarkets
Convenience Stores
Non-Grocery Retailers
Others
The milk chocolate market has been segmented on the basis of distribution channels which are currently dominated by supermarkets and hypermarkets. These stores offer numerous brands and types of milk chocolate to the consumers in one place.
Regional Insights:
Western Europe
North America
Eastern Europe
Asia
Latin America
Middle East and Africa
Australasia
On a geographical front, Western Europe represents the largest market for milk chocolate, holding the majority of the market share. This can be attributed to the increasing production of milk chocolate in countries like France and Germany.
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Key Questions Answered in This Report
1. What was the size of the global milk chocolate market in 2023?
2. What is the expected growth rate of the global milk chocolate market during 2024-2032?
3. What are the key factors driving the global milk chocolate market?
4. What has been the impact of COVID-19 on the global milk chocolate market?
5. What is the breakup of the global milk chocolate market based on the distribution channel?
6. What are the key regions in the global milk chocolate market?
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Chocolate Industry
5.1 Market Overview
5.2 Market Performance
5.2.1 Volume Trends
5.2.2 Value Trends
5.3 Market Breakup by Region
5.4 Market Breakup by Product
5.5 Market Breakup by Packaging
5.6 Market Breakup by End-Use
5.7 Market Share of Key Players
5.8 Market Forecast
6 Global Milk Chocolate Industry
6.1 Market Overview
6.2 Market Performance
6.2.1 Volume Trends
6.2.2 Value Trends
6.3 Impact of COVID-19
6.4 Price Analysis
6.4.1 Key Price Indicators
6.4.2 Price Structure
6.4.3 Price Trends
6.5 Market by Region
6.6 Market by Distribution Channel
6.7 Market Forecast
6.8 SWOT Analysis
6.8.1 Overview
6.8.2 Strengths
6.8.3 Weaknesses
6.8.4 Opportunities
6.8.5 Threats
6.9 Value Chain Analysis
6.9.1 Overview
6.9.2 Cocoa Growers
6.9.3 Cocoa Grinders
6.9.4 Coverture/Industrial Chocolate Manufacturers
6.9.5 End Use Industries
6.9.6 Chocolate Manufacturers
6.9.7 Distributors
6.9.8 Exporters
6.9.9 Retailers
6.10 Porters Five Forces Analysis
6.10.1 Overview
6.10.2 Bargaining Power of Buyers
6.10.3 Bargaining Power of Suppliers
6.10.4 Degree of Rivalry
6.10.5 Threat of New Entrants
6.10.6 Threat of Substitutes
6.11 Key Success and Risk Factors
7 Performance of Key Regions
7.1 Western Europe
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 North America
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Eastern Europe
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 Asia
7.4.1 Market Trends
7.4.2 Market Forecast
7.5 Latin America
7.5.1 Market Trends
7.5.2 Market Forecast
7.6 Middle East and Africa
7.6.1 Market Trends
7.6.2 Market Forecast
7.7 Australasia
7.7.1 Market Trends
7.7.2 Market Forecast
8 Performance by Distribution Channel
8.1 Supermarkets and Hypermarkets
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Convenience Stores
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Non-Grocery Retailers
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Others
8.4.1 Market Trends
8.4.2 Market Forecast
9 Competitive Landscape
10 Milk Chocolate Manufacturing Process
10.1 Product Overview
10.2 Detailed Process Flow
10.3 Various Types of Unit Operations Involved
10.4 Mass Balance and Raw Material Requirements
11 Project Details, Requirements and Costs Involved
11.1 Land, Location and Site Development
11.2 Construction Requirements and Expenditures
11.3 Plant Machinery
11.4 Machinery Pictures
11.5 Raw Materials Requirements and Expenditures
11.6 Raw Material and Final Product Pictures
11.7 Packaging Requirements and Expenditures
11.8 Transportation Requirements and Expenditures
11.9 Utilities Requirements and Expenditures
11.10 Manpower Requirements and Expenditures
11.11 Other Capital Investments
12 Milk Chocolate Manufacturing Plant: Loans and Financial Assistance
13 Milk Chocolate Manufacturing Plant: Project Economics
13.1 Capital Cost of the Project
13.2 Techno-Economic Parameters
13.3 Product Pricing and Margins Across Various Levels of the Supply Chain
13.4 Taxation and Depreciation
13.5 Income Projections
13.6 Expenditure Projections
13.7 Financial Analysis
13.8 Profit Analysis
14 Key Player Profiles
Figure 1: Global: Milk Chocolate Market: Major Drivers and Challenges
Figure 2: Global: Chocolate Market: Volume Trends (in Million Tons), 2018-2023
Figure 3: Global: Chocolate Market: Value Trends (in Billion US$), 2018-2023
Figure 4: Global: Chocolate Market: Breakup by Region (in %), 2023
Figure 5: Global: Chocolate Market: Breakup by Product (in %), 2023
Figure 6: Global: Chocolate Market: Breakup by Packaging (in %), 2023
Figure 7: Global: Chocolate Market: Breakup by End-Use (in %), 2023
Figure 8: Global: Chocolate Market: Share of Key Players (in %), 2023
Figure 9: Global: Chocolate Market Forecast: Volume Trends (in Million Tons), 2024-2032
Figure 10: Global: Chocolate Market Forecast: Value Trends (in Billion US$), 2024-2032
Figure 11: Global: Milk Chocolate Market: Volume Trends (in Million Tons), 2018-2023
Figure 12: Global: Milk Chocolate Market: Value Trends (in Billion US$), 2018-2023
Figure 13: Milk Chocolate Market: Price Structure
Figure 14: Global: Milk Chocolate Market: Average Price Trends (in US$/Ton), 2018-2023
Figure 15: Global: Milk Chocolate Market Forecast: Average Price Trends (in US$/Ton), 2024-2032
Figure 16: Global: Milk Chocolate Market: Breakup by Region (in %), 2023
Figure 17: Global: Milk Chocolate Market: Breakup by Distribution Channel (in %), 2023
Figure 18: Global: Milk Chocolate Market Forecast: Volume Trends (in Million Tons), 2024-2032
Figure 19: Global: Milk Chocolate Market Forecast: Value Trends (in Billion US$), 2024-2032
Figure 20: Global: Milk Chocolate Industry: SWOT Analysis
Figure 21: Global: Milk Chocolate Industry: Value Chain Analysis
Figure 22: Global: Milk Chocolate Industry: Porter's Five Forces Analysis
Figure 23: Global: Milk Chocolate Market Forecast: Breakup by Region (in %), 2032
Figure 24: Western Europe: Milk Chocolate Market: Sales Volume (in Tons), 2018 & 2023
Figure 25: Western Europe: Milk Chocolate Market Forecast: Sales Volume (in Tons), 2024-2032
Figure 26: North America: Milk Chocolate Market: Sales Volume (in Tons), 2018 & 2023
Figure 27: North America: Milk Chocolate Market Forecast: Sales Volume (in Tons), 2024-2032
Figure 28: Eastern Europe: Milk Chocolate Market: Sales Volume (in Tons), 2018 & 2023
Figure 29: Eastern Europe: Milk Chocolate Market Forecast: Sales Volume (in Tons), 2024-2032
Figure 30: Asia: Milk Chocolate Market: Sales Volume (in Tons), 2018 & 2023
Figure 31: Asia: Milk Chocolate Market Forecast: Sales Volume (in Tons), 2024-2032
Figure 32: Latin America: Milk Chocolate Market: Sales Volume (in Tons), 2018 & 2023
Figure 33: Latin America: Milk Chocolate Market Forecast: Sales Volume (in Tons), 2024-2032
Figure 34: Middle East and Africa: Milk Chocolate Market: Sales Volume (in Tons), 2018 & 2023
Figure 35: Middle East and Africa: Milk Chocolate Market Forecast: Sales Volume (in Tons), 2024-2032
Figure 36: Australasia: Milk Chocolate Market: Sales Volume (in Tons), 2018 & 2023
Figure 37: Australasia: Milk Chocolate Market Forecast: Sales Volume (in Tons), 2024-2032
Figure 38: Global: Milk Chocolate Market: Sales through Supermarkets and Hypermarkets (in Tons), 2018 & 2023
Figure 39: Global: Milk Chocolate Market Forecast: Sales through Supermarkets and Hypermarkets (in Tons), 2024-2032
Figure 40: Global: Milk Chocolate Market: Sales through Convenience Stores (in Tons), 2018 & 2023
Figure 41: Global: Milk Chocolate Market Forecast: Sales through Convenience Stores (in Tons), 2024-2032
Figure 42: Global: Milk Chocolate Market: Sales through Non-Grocery Retailers (in Tons), 2018 & 2023
Figure 43: Global: Milk Chocolate Market Forecast: Sales through Non-Grocery Retailers (in Tons), 2024-2032
Figure 44: Global: Milk Chocolate Market: Sales through Other Distribution Channels (in Tons), 2018 & 2023
Figure 45: Global: Milk Chocolate Market Forecast: Sales through Other Distribution Channels (in Tons), 2024-2032
Figure 46: Milk Chocolate Manufacturing: Detailed Process Flow
Figure 47: Milk Chocolate Manufacturing: Conversion Rate of Feedstocks
Figure 48: Milk Chocolate Manufacturing: Breakup of Capital Costs (in %)
Figure 49: Milk Chocolate Production: Manufacturing Cost Breakup (in %)
Figure 50: Milk Chocolate Manufacturing Plant: Margins Across Various Stages of the Supply Chain
Table 1: Global: Chocolate Market: Key Industry Highlights, 2023 and 2032
Table 2: Global: Milk Chocolate Market: Key Industry Highlights, 2023 and 2032
Table 3: Global: Milk Chocolate Market Forecast: Breakup by Region (in Tons), 2024-2032
Table 4: Global: Milk Chocolate Market Forecast: Breakup by Distribution Channel (in Tons), 2024-2032
Table 5: Global: Milk Chocolate Market: Competitive Structure
Table 6: Milk Chocolate Manufacturing Plant: Raw Material Requirements (in Tons/Day)
Table 7: Milk Chocolate Manufacturing Plant: Costs Related to Land and Site Development (in US$)
Table 8: Milk Chocolate Manufacturing Plant: Costs Related to Civil Works (in US$)
Table 9: Milk Chocolate Manufacturing Plant: Machinery Costs (in US$)
Table 10: Milk Chocolate Manufacturing Plant: Raw Material Requirements (in Tons/Day) and Expenditures (US$/Ton)
Table 11: Milk Chocolate Manufacturing Plant: Costs Related to Utilities (in US$)
Table 12: Milk Chocolate Manufacturing Plant: Costs Related to Salaries and Wages (in US$)
Table 13: Milk Chocolate Manufacturing Plant: Costs Related to Other Capital Investments (in US$)
Table 14: Milk Chocolate Manufacturing Plant: Capital Costs (in US$)
Table 15: Milk Chocolate Manufacturing Plant: Techno-Economic Parameters
Table 16: Milk Chocolate Manufacturing Plant: Taxation (in US$)
Table 17: Milk Chocolate Manufacturing Plant: Depreciation (in US$)
Table 18: Milk Chocolate Manufacturing Plant: Income Projections (in US$)
Table 19: Milk Chocolate Manufacturing Plant: Expenditure Projections (in US$)
Table 20: Milk Chocolate Manufacturing Plant: Cash Flow Analysis Without Considering the Income Tax Liability (in US$)
Table 21: Milk Chocolate Manufacturing Plant: Cash Flow Analysis on Considering the Income Tax Liability (in US$)
Table 22: Milk Chocolate Manufacturing Plant: Profit and Loss Account (in US$)
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