Market Dynamics

Accelerating the application of white chocolate in various food & beverage products and manufacturers approach towards introduction of innovative products in order to attract new customers are major factors expected to drive the growth of global white chocolate market. Manufacturers are largely focused on using white chocolate in the products. Chancing consumers demand pertaining to food consumption and rise in health awareness, is resulting in players focus on providing healthy options. According to FMCG Gurus survey, they found 80% of consumers say they plan to eat and drink healthier because of coronavirus, compared to the 73% who said the same thing a month earlier. White chocolate having various health benefits such as boosting immunity, improving liver health, and lowering cholesterol is gaining importance among consumers. Manufacturer’s inclination towards increasing the investment for product development and introduction of innovative products is expected to augment the growth of white chocolate market.

In 2020, Cadbury a multinational confectionery company launched three new products “Cadbury White Buttons, a Cadbury White Chocolate Block, and White Chocolate Freddo Treasures” in the UK market. This product launch is expected to help the company to enhance the customer base and increase the revenue share.

In 2020, Ghirardelli Chocolate Company launched “White Chocolate Caramel SQUARES” a white chocolate product with the focus to attract new customers and strengthen its position in the market. The product can be found at retailers nationwide, including Target and Walmart focused on further increase the company revenue.

In 2020, Huel Ltd a food manufacturing company launched a new “Vegan Raspberry & White Chocolate Flavor Bar” an addition to the present bar line-up. This product launch is expected to help the company to enhance the business presence and customer base in vegan market.

Favorable business policies by the government of developing countries and the emergence of small & mid-size players with innovative solutions are factors expected to augment the white chocolate market growth. Factors such as changing consumer preference and stringent government regulations related to approval of food & beverage products are factors expected to hamper the growth of global white chocolate market. In addition, high competition in the market on low profit ratio is expected to challenge the growth of target market. However, increasing product improvement activities by major players and rise in awareness among consumers related to use of white chocolate are factors expected to create new opportunities for players operating in the white chocolate market over the forecast period. In addition, increasing partnership and agreement activities between regional and international players is expected to support the revenue transaction of the target market. 

Segment Analysis by Region 

The market in North America is expected to account for major revenue share in the global white chocolate market due to increasing demand for white chocolate. Presence of large number of players operating in the country and introduction of innovative solutions is expected to impact the growth of target market. In addition, increasing acquisition activities in order to strengthen the distribution channel is expected to support the white chocolate market growth in this region.

The market in Asia Pacific is expected to witness faster growth in the target market due to rising awareness among consumers related to benefits of white chocolate. In addition, manufactures approach towards product improvement is expected to support the growth of white chocolate market.

Competitive Landscape

The global white chocolate market is high highly competitive due to presence of large number of players and innovative product offerings. In addition, business expansion activities through partnerships and agreements are factors expected to further increase the competition.

White Chocolate Market Segment Analysis, 2019

The global white chocolate market is segmented into type, form, application, and sales channel. The form segment is bifurcated into white chocolate bar, candies, white chocolate coating nuts, white chocolate chips, and others. Among form, the chocolate bar segment is expected to account for significant revenue share in the global white chocolate market. The sale channel segment is divided into online and offline. Among sales channel the online segment is expected to witness faster growth in the target market. The players profiled in the report are Mars Incorporated, Blommer Chocolate Company, GCPPL Ltd, Unilever, Nestle SA, Agostoni Chocolate, Ghirardelli Chocolate Co., Barry Callebaut, Mondelez International, Ferrero, Chocolatiers (UK) Ltd, and The Hershey Company

Market Segmentation

Market By Type

Organic Dark Chocolate
Conventional Dark Chocolate

Market By Form

White Chocolate Bar
Candies
White Chocolate Coating Nuts
White Chocolate Chips
Others

Market By Application

Food & Beverages
Pharmaceuticals
Cosmetics
Others

Market By Sales Channel

Offline Channel
Online Channel

Market By Geography

North America
•    U.S.
•    Canada

Europe
•    U.K.
•    Germany
•    France
•    Spain
•    Rest of Europe

Asia-Pacific
•    China
•    Japan
•    India
•    Australia
•    South Korea
•    Rest of Asia-Pacific

Latin America
•    Brazil 
•    Mexico
•    Rest of Latin America

Middle East & Africa
•    GCC
•    South Africa
•    Rest of Middle East & Africa