Cibi e Bevande
Hot Chocolate Market Size Worth $4.44 Billion by 2027 | CAGR: 4.0%: Grand View Research, Inc.
https://www.grandviewresearch.com/industry-analysis/hot-chocolate-market
The offline distribution channel segment held a major share of exceeding 90.0% in 2019. High product availability at supermarkets and hypermarkets and convenience stores is expected to favor sales of hot chocolate through offline channel in coming years. While the popularity of online sales channel is steadily growing, around 83% of consumers prefer offline channel as it provides the leverage of feel, touch, and taste, thereby driving the sales of hot chocolate through offline channel.
Online distribution channel is expected to expand at the highest CAGR of 7.5% from 2020 to 2027. Convenience of doorstep delivery, discounted price, and cash on delivery are the major factors influencing sale of hot chocolate through online channel. Moreover, entry of online retail giant Amazon in the online grocery industry is expected to boost hot chocolate sales through online channel in coming years.
Asia Pacific emerged as the largest regional market with share of 30.2% in 2019. This growth is attributed to rising awareness related to the health benefits of chocolate and increasing disposable income of the middle-class population in countries, such as China and India . Furthermore, growing presence of cafés in the region is expected to contribute to the growth of the hot chocolate market in coming years. For instance, according to the Starbucks' investor presentation, as of September 2019 , the company's total store count stood at 163 across 10 cities in India .
Consumer F&B Industry
Grand View Compass
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco , the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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