According to National Confectionary Association ( NCA ), Germany led one-fourth of the Western European in sales and consumption in 2016 .
2 . Asia Pacific is the fastest growing region in the global chocolate market . It is valued at US $ 26.75 billion in 2016 and it is growing at a CAGR of 8.5 %, owing mainly to the rise in disposable incomes of the consumers . Moreover , influence of western habits and culture have augmented the growth of multinational companies , such as Mars , Hershey ’ s , Ferrero , and Ghirardelli in this region . The economies such as Japan , China , South Korea , and India are the major markets of these brands and contribute to the growth of chocolate market globally . Cadbury India , was associated with the highest sales over the past few decades , owing to the most attractive brand during the festive reason of this country .
3 . North America is projected to be the largest region in chocolate market . The growth is mainly attributed to the presence of international brands and high rate of consumption . The U . S . is the major player of chocolate market in this region . According to National Center for Biotechnology Information ( NCBI ), the U . S . population consumes one or more than one chocolate candy of the three days of food intake . Moreover , chocolate is consumed more in winters of about 30-90 grams / day .
4 . The Middle East and Africa are witnessed to have a significant growth in the chocolate market . The major regions such as the U . S . and Europe are expanding their business in Africa and the consumption rate of the premium chocolates , such as Ferrero and Lindt are increasing at a fast pace in the Middle East . According to the Gulf News , chocolate market is huge in UAE with an estimated business of US $ 54.4 million annually .
Some of the major players in the Chocolate market include Mars , Hershey , Nestlé , Barry Callebaut , Kraft Foods , Ferrero , Moonstruck Chocolatier Co ., Ghirardelli Chocolate Co ., and Mondelez International ( Cadbury ).
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