Changing Consumer Tastes and Innovative Ideas to Fuel Milk Chocolate Market
The concept of “milk chocolate” was incepted around 200 years ago, in the late 1800s. Spanning over two centuries, the history of milk chocolate is a fascinating one. It is one of the most indulgent products of the chocolate and dairy industry. At present, dietary lifestyle of Europe exhibits substantial presence of milk chocolate products. The popularity of milk chocolate never ceases to spread across the boundaries of developed consumer market places of the world.
The authentic formula of milk chocolate represents a unique combination of chocolate, sweeteners, milk, sweeteners, dairy ingredients, and sugars. These days, milk chocolate products have evolved to a great extent, and come with additional ingredients such as lecithin, cocoa butter, chocolate liquor, and milk solids. Varying tastes of consumers is foreseen to drive the evolution of milk chocolate in the years to come and manufacturers to assess the scope of consumption will test new innovative ideas.
Key market leaders of global paper straw market are Chocoladefabriken Lindt & Sprüngli AG, Ferrero SpA, Chocolatiers (UK) Ltd., Hershey Co, Barry Callebaut, and Blommer Chocolate Company. Many other notables companies are also operating in the global paper straw market.
Transparency Market Research presents a new research report titled Milk Chocolate Market.
According to the report, global milk chocolate market will expand at a robust 6.2% CAGR from 2017 to 2026. Global milk chocolate market is estimated to be more than US$1.6 bn in 2019.
Innovation in Dairy Industry Stimulates Growth of Milk Chocolate Market
A main trend that influences the manufacturing of milk chocolate is the rising demand for a wide variety of flavors to meet the diverse taste buds of consumer bases worldwide. In the years to come, manufacturers of milk chocolate will be sticking to the standardized formulas and will not allow new formulations to influence their product quality and safety. The milk chocolate of the future will have almost near-equal amounts of milk solids and chocolate liquor, and then there will be less than 4% of milk fats to keep it trending amongst the health-conscious consumers.
Growth of the global milk chocolate market is dynamic in nature and is increasingly impacted by dietary patterns and varying tastes of chocolate loving consumers across the globe. The growing demand for a wide variety of chocolate flavors that can meet the varying taste buds of consumers across the globe is a substantially important trend that is propelling the growth of the global milk chocolate market. The efforts of chocolate manufacturers to come up with indulgent, mouth-watering milk chocolates for a wide consumer base are also accentuating the growth of global milk chocolate market.
With the advent of multiple flavors in milk chocolates, countless new consumers have been attracted in emerging economies of the world. New flavours also garnered more revenue in the developed markets.
However, chocolate makers are opting for standardization of milk chocolate formulae. It will make the entry of new market players in the global milk chocolate market more difficult. In the years to come, such a move is quite likely to raise the ante for emerging players in the global milk chocolate market. Nevertheless, such new product launches are anticipated to prove beneficial for the consumers at large. This will result in the lessening of milk fat in many milk chocolate products. Such strategic moves by leading makers of milk chocolates will enhance the safety profile of newly launched products.
The global milk chocolate market is regionally divided into North America, Europe, Asia Pacific except Japan, Middle East and Africa and South America. Most of the milk chocolates will be produced and consumed as well in Europe. Europe will be followed by North America and then by Asia-Pacific excluding Japan (APEJ) region.
This review is based on a TMR report bearing title “Milk Chocolate Market (Product Type - Conventional Milk Chocolate and Organic Milk Chocolate; Form - Bar, Candies, Chocolate Coated Nuts, Chocolate Chips, and Other Forms; Applications - Food & Beverages, Personal Care & Cosmetics, Pharmaceuticals, and Other Applications; Sales Channels - Modern Trade, Specialty Stores, Departmental Stores, Pharmaceutical & Confectionary Stores, Online Stores, and Other Sales Channels) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2026.”
The global milk chocolate market is segmented based on:
- Conventional Milk Chocolate
- Organic Milk Chocolate
- Chocolate Coated Nuts
- Chocolate Chips
- Other Forms
- Food & Beverages
- Personal Care
- Other Applications
- Modern Trade
- Specialty Stores
- Departmental Stores
- Pharmaceutical & Confectionary Stores
- Online Stores
- Other Sales Channels
- North America
- Asia Pacific excluding Japan
- Middle East and Africa
- South America
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