(MENAFNEditorial)
Fast Market Research announces the availability of Technavio's new report "Chocolate Market in Europe 2015-2019" on their comprehensive research portal.
Chocolate is made from cocoa liquor cocoa butter sugar and lecithin. It is consumed between meals and as a dessert or during any part of the day. Chocolate is an important ingredient in confectionery products ice creams and bakery products.
Technavio's analysts forecast the chocolate market in Europe to grow at a CAGR of 4.33% in terms of revenue during 2014-2019.
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Commenting on the report an analyst from Technavio’s team said: “Vendors have started making products that are low in sugar content and have added nutritional benefits. These days many chocolate bars contain added cereal and muesli. Stevia-based chocolate is also becoming popular amongst people with diabetes as it is safe for them to consume. Many weight-conscious health-conscious or calorie-conscious people also prefer stevia-based chocolate products. Stevia or steviol glycoside sweetener is a popular substitute for sugar because it contains less calories. Vendors are advertising the health benefit claims of their products to boost their sales.”
According to the report many new varieties products and flavors have been introduced by chocolate vendors to cater to the needs of consumers. Stevia-based chocolate products are popular with weight conscious people. Many vendors are offering added health benefits in chocolates to counter the criticism about the lower nutritional content. Chocolate is also offered in a variety of flavors such as lemon and orange and some contain fruits such as strawberries raspberries cherries and peaches. The introduction of these new products drives market growth.
Further the report states that the increase in the price of cocoa and sugar has made it difficult for vendors to sell chocolate at a constant price.
The key players in the Chocolate Market in Europe are Ferrero Group Hershey's Mars Mondelez International Nestlé and Ritter Sport while other prominent vendors include Alfred Ritter Archer Daniels Midland August Storck Barry Callebaut Group Blommer Chocolate Brookside Foods Cémoi Chocolate Frey Fazer Group Kegg's Candies Lindt & Sprüngli Natra Orkla Roshen Confectionery Russell Stover Candies Tangerine Confectionery United Confectionary Manufacturers Warrell and Yildiz Holding
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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