Transparency Market Research has published a new research report on the global milk chocolate market. Highlights include:
- A compounded annual growth rate of 6.2 percent will allow it to reach a global market value of $95 billion by 2026.
- The authentic formula for making milk chocolate needs a unique blend of sweeteners, dairy ingredients, sugars, cocoa and milk sweeteners. Recently, milk chocolate production has undergone huge changes and the producers have come up with new ingredients. Some of the new ingredients are milk solids, chocolate liquor, cocoa butter and lecithin.
- The key driving factor for the growth of the global milk chocolate market is the changing taste of consumers across the globe. This is encouraging chocolate producers to come up with new varieties and tastes in their milk chocolate products.
- To target the more health-conscious audience, the producers are developing products that have an equal quantity of milk solids and chocolate liquor. These products have less than four percent of milk fats, making them attractive for such a new audience.
- Due to economic developments across the globe, people are ready to pay more for exotic milk chocolate products. This is also seen as an upcoming trend to fuel market growth.
- The global market is primarily dominated by Europe, followed by North America and Asia Pacific, excluding Japan. The collective market share of France and Germany represent an estimated 55 percent of the entire Europe milk chocolate market.
- North America and the Asia Pacific regions, excluding Japan, are on course to witness growth rates of around 18 percent.
To request a sample of the report, click here.
