U.S. Chocolate Beverage Powder Market Analysis and Forecast Report 2030
CRI has released a report titled Chocolate Beverage Powder Market – Analysis of Market Size, Share & Trends for 2014 – 2020 and Forecasts to 2031. The market is anticipated to reach USD 19,59 million by 2030 at CAGR of CAGR of 4.2% from 2021 to 2030. According to the report, emphasizes on the detailed understanding of some decisive factors such as size, share, sales, forecast trends, supply, production, demands, industry and CAGR in order to provide a comprehensive outlook of the global market
Chocolate Beverage Powder Market Market: Key Players
The U.S. Chocolate Beverage Powder Market accounted for USD 1,396 Million in 2020 and is expected to reach USD 1,959 Million by 2028, growing at a CAGR of 4.2% from 2021 to 2028.
According to the data from various sources, such as bar, cafe and convenience store, there has been a significant rise in the purchasers of the products. The reason for this is because these products contain high content of caffeine and sugar that can affect body positively. It gives more energy to improve mental focus and endurance during exercise activities that require physical effort. In addition, drinking powder drinks with cacao will help satisfy hunger by giving slow release of carbohydrates into the blood system. This will make the stomach feel full longer, especially in adolescents who are often busy with various activities after school.
COVID-19 Impact Analysis
Covid-19 pandemics has affected almost all the sectors across the globe. However, chocolate beverage powder market remains unaffected during this period. On top of that several leading market players in the region reported improvement in the revenue as people found to be stock piling their favorite food, especially premium chocolate powder. Since they are staying in home for longer time and spending less time outside, they have started consuming more comfort food. For instance, it has been found that 51% people are preferring chocolate as their comfort food and remaining 49% are considering it as their favorite food.
Teens, young adults and even children are concerned about their weight and overall health. This has led them to make healthier choices of food and drinks they consume on a daily basis. Obesity is a serious issue around the world. A huge part of healthier beverage demand is driven by functional benefits drinks can provide to consumers. Functional benefits refer to “cues that something possesses beneficial physiological effects. These cues that manufacturers place on packaging or advertisements regarding what a product can do for consumers’ health typically influence consumer preferences. For instance, calcium content is linked with healthy, which could be advertised as one of Citrus’s benefits. It would be wise to include this on packaging, or in advertisements. Unhealthy beverages, such as soda and fruit drinks are perceived by millennials as “outdated”. Millennials have started avoiding purchasing these products, which has led to an increase in demand for healthier options. Currently, health-related claims are the second most common type of claim on beverage labels behind “natural”.
Chocolate’s use in a beverage is growing fast in the US and wide range of chocolate drinks can now be found everywhere from restaurants and airport lounges to supermarkets and grocery stores, making them easy to acquire for those who suddenly develop a taste for them. While traditional hot chocolate consists of melted chocolate mixed with hot water or milk, the drinks are gaining popularity because they are made with premium ingredients without preservatives, artificial flavors or colors.
Report Attribute Details
Base Year 2020
Historic Years 2016 – 2020
Forecast Years 2021 – 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
White chocolate powder segment held a share of around 40.94% in 2020. This drink is targeted for younger customers who likes to experiment with the different tastes they could get from drinks than older people who enjoys drinking white chocolate powder drink which mostly consists of milk and sugar taste due to its traditional characteristic. The demand for this product over the last five years has been increasing every year because it offers an alternative to other milk drinks such as dairy coffee and yoghurt. However, there is still a price problem that may cause potential customers not buying this product; therefore, marketers should give more attention to this problem.
Distribution Channel Segment Analysis Preview
Hypermarkets/Supermarkets segment is expected to grow at a CAGR of over 4.3% from 2021 to 2028. In today’s society, people are living a very busy life. With the increasing pressure from work and family, many consumers live a fast-paced lifestyle which has changed their quality of life. This has led to a significant change in consumer buying behaviours as they look for convenience and products that can help them manage the numerous demands on their time. In this modern society, people have a lot of different choices when it comes to beverages. When consumers look for the right beverage that suits their needs at home or when they are on the go, convenience is a major consideration. Consumers would choose to buy from the supermarket instead of other places such as specialty shops because supermarkets offer more convenient services and have wider product offerings.
Regional Analysis Preview
U.S. is growing at 4.2% CAGR during 2021 to 2028. In dollar sales, the natural channel has been experiencing a steady increase in demand since 2013, growing from $28.9 billion to over $33.5 billion from 2016 to 2017. This is a result of an increase in demand for healthy beverages driven by health-conscious millennial. Healthy beverage consumption has increased significantly due to functional benefits and greater access to these products. The overall market will continue growing as long as new and unique functional benefits are added and new products are created with the goal of satisfying consumer demands while also providing them with some sort of benefit that can improve their daily lives.
Key Market Players & Competitive Landscape
Some of key players in U.S. Chocolate Beverage Powder Market are Nestle, Mars, Pepsico, Mondelez, kanegrade, Hershey’s, among others.
The U.S. Chocolate Beverage Powder Market is segmented as follows:
Milk Chocolate Powder
Dark Chocolate Powder
White Chocolate Powder
By Packaging Format
By Distribution Channel
Food and Drug mass
Global Travel Retail
By Packaging Size
Up to 500 Grams
More than 1,500 Grams
Chocolate Beverage Powder Market Market Dynamics
Chocolate Beverage Powder Market Market Size
Supply & Demand
Competition & Companies Involved in the Market
Value Chain of the Market
Market Drivers and Restraints
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
COVID-19 pre and post business impact analysis
Detailed overview of the parent market
Changing market dynamics in the industry
In-depth market segmentation
What is the Chocolate Beverage Powder Market Market growth?
Which segment accounted for the largest Chocolate Beverage Powder Market Market share?
Who are the key players in the Griddles Market?
Historical, current and projected market size in terms of volume and value
Recent industry trends and developments
Strategies of key players and products offered
Potential and niche segments, geographical regions exhibiting promising growth
A neutral perspective on market performance
Must-have information for market players to sustain and enhance their market footprint
Note: Although care has been taken to maintain the highest levels of accuracy in Fatpos Global’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.