Report: Global organic chocolate market to reach $1.39B by 2028

New ResearchandMarkets.com report says easy availability of artisanal chocolates and constant innovations will facilitate growth.

Hershey's launched organic versions of some of its brands this year, including Reese's. The move is in line with predictions for growth in the organic chocolate market according to a new ResearchandMarkets.com report.

The global organic chocolate market size is expected to reach $1.39 billion by 2028, registering a compound annual growth rate (CAGR) of 6.8 percent.

That’s according to ResearchandMarkets.com's latest report, "Organic Chocolate Confectionery Market Size, Share & Trends Analysis Report by Type (Milk, Dark), Product (Molded Bars, Chips & Bites), Distribution Channel (Online, Super/Hypermarkets), and Segment Forecasts, 2021-2028."

Europe is expected to register the fastest growth rate during forecast years, while the chips and bites segment is expected to register the fastest CAGR during forecast years.

This growth is credited to the easy availability of artisanal chocolates and constant innovations with consistent product quality.

Factors driving growth

Increasing preference for organic food products is a major factor contributing to the growth of the market. Rapid consumerism and rising disposable income levels are also bolstering the market growth.

Several market players have introduced strategies for branding their chocolate confectionery in novel ways, such as organic versions.

This has also resulted in the growing consumption of these items, especially dark chocolate. However, the milk chocolate segment accounted for the largest share of the global revenue in 2020.

Milk chocolate bars are becoming increasingly common in cooking and baking. Milk chocolate is a popular ingredient in a variety of cakes pastries, and confections. It has a creamier texture and flavor than other chocolate varieties, thus, it is preferred over other chocolate varieties. The market is fragmented in nature, with the presence of a large number of global and regional players.

The supermarkets and hypermarkets segment accounted for the largest revenue share in 2020.

A large number of consumers prefer buying organic chocolate confectioneries from hypermarkets and supermarkets due to the shopping experience offered by these stores. Physical verification of these items, as well as expert assistance, is a significant factor in the development of this distribution channel.

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Crystal Lindell, Former editor-in-chief of Candy Industry Magazine. While here she has worked on Candy Industry Magazine, Food Engineering Magazine and Food Safety Strategies. She holds a master’s degree in public affairs reporting from the University of Illinois – Springfield and a bachelor’s degree in political science from Western Illinois University. And her favorite breakfast is a cup of espresso and Twix bar.