Europe Craft Chocolate Market Report 2024

Craft Chocolate Market Size, Share & Trends Analysis Report By Type (Dark Chocolate, White Chocolate, Milk Chocolate, Ruby Chocolate, Blended Chocolate), By Form (Bars, Truffles, Bonbons, Discs, Dragees, Slabs, Nibs), By Application (Retail, Wholesale, E-commerce, Specialty Stores, Gift Shops), By Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Online Retail, Artisan Shops), By Region, And Segment Forecasts, 2023 - 2030

Market Overview

According to Cognitive Market Research, the global Craft Chocolate Market size will be USD 13.3 billion in 2023 and will expand at a compound annual growth rate (CAGR) of 10.20% from 2023 to 2030. Craft chocolate market thrives on growing consumer demand for sustainable and ethically sourced products, driven by a preference for transparency and ethical considerations. The market's responsiveness to ethical consumerism serves as a catalyst for sustained growth. The Craft Chocolate Market surges in demand, propelled by the artisanal allure and captivating storytelling accompanying each unique product. Craft chocolatiers, typically smaller-scale producers, leverage their artistry and narratives to establish a distinct connection with consumers. This cause-and-effect relationship is evident as consumers, desiring more than just a product, are drawn to the personalized, handcrafted nature of craft chocolate. This fosters loyalty and elevates the market by valuing the artisanal journey and the individual stories behind each delectable creation.

• For instance, Barry Callebaut has inked a partnership with Attelli in Morocco, encompassing the acquisition of Attelli's manufacturing assets and the establishment of a long-term supply agreement for compound products.

How did COVID–19 Impact the Craft Chocolate Market?

The craft chocolate market faced initial disruptions during the COVID-19 pandemic, with lockdowns and economic uncertainties impacting production and retail sales. However, the industry demonstrated resilience through a shift to e-commerce and direct-to-consumer strategies. As consumers sought comfort, online sales of craft chocolate surged, showcasing the adaptability of the market. Craft chocolate makers embraced innovation, introducing virtual experiences and emphasizing quality, ultimately turning challenges into opportunities and highlighting the enduring appeal of artisanal, high-quality chocolate.

MARKET DYNAMICS: KEY DRIVERS

Sustainable Practices and Ethical Sourcing Propel the Growth Trajectory of the Craft Chocolate Market

The adoption of sustainable practices and ethical sourcing becomes a driving force propelling the craft chocolate market. As conscientious consumers prioritize transparency and ethical considerations in their purchasing decisions, craft chocolate makers implementing fair trade practices and environmentally sustainable sourcing witness heightened demand. This cause-and-effect relationship underscores the market's responsiveness to ethical consumerism, with the commitment to social and environmental responsibility becoming a catalyst for the market's sustained growth.

Artisanal Appeal and Compelling Storytelling Propelling the Surge in Demand within the Craft Chocolate Market

Craft chocolate market experiences a surge in demand driven by the artisanal appeal and compelling storytelling surrounding each unique product. Craft chocolatiers, often smaller-scale producers, leverage their artistry and narratives to create a distinct connection with consumers. This cause-and-effect dynamic is evident as consumers, seeking more than just a product, are drawn to the personalized, handcrafted nature of craft chocolate, fostering loyalty and elevating the market by valuing the artisanal journey and the individual stories behind each delectable creation.

MARKET DYNAMICS: KEY RESTRAINTS

Dual Challenge of Affordability and Artisanal Quality in the Craft Chocolate Market

Craft Chocolate faces restraints linked to premium pricing pressures, posing a dual challenge for producers and consumers alike. The meticulous sourcing of high-quality ingredients, often ethically and sustainably produced, contributes to elevated production costs. As a result, craft chocolate is positioned at a premium price point, limiting its accessibility to a broader consumer base. The restraint lies in the delicate balance between maintaining the artisanal quality that defines craft chocolate and addressing the challenge of making it more affordable without compromising on the unique characteristics that distinguish it in the competitive confectionery landscape.

How are Segments Performing in the Global Craft Chocolate Market?

Type Segment Analysis

According to Cognitive Market Research, dark chocolate takes center stage in the Craft Chocolate Market, claiming a dominant position due to its rich cocoa content and intricate flavor profiles. Craft chocolatiers, celebrated for their emphasis on quality, have excelled in producing premium dark chocolate offerings, establishing it as the preferred choice among discerning consumers. Ruby Chocolate emerges as the fastest-growing category, characterized by its unique pink hue and distinctive berry-like taste. The novelty and sensory appeal of ruby chocolate has fueled rapid market expansion, making it a standout choice among chocolate enthusiasts and contributing to the dynamic landscape of the craft chocolate industry.

Form Segment Analysis

According to Cognitive Market Research, in the craft chocolate market, the Bars segment commands dominance favored for its versatility and creative potential in flavor combinations. This traditional format's widespread availability and portion control contribute to its substantial market share. Concurrently, the Truffles category emerges as the fastest-growing segment, epitomizing innovation and luxury in craft chocolate. Renowned for their indulgent appeal, truffles showcase chocolatiers' artistic prowess, attracting consumers seeking premium, bite-sized experiences. This dynamic interplay between the traditional allure of bars and the evolving sophistication of truffles highlights the diverse landscape within the craft chocolate industry.

Application Segment Analysis

According to Cognitive Market Research, in the craft chocolate market, the dominant category is retail, capitalizing on widespread consumer accessibility and the diverse demographic reach of in-store experiences. Craft chocolatiers strategically partner with retailers to showcase their products, establishing a prominent presence in traditional brick-and-mortar outlets. 

Simultaneously, the e-commerce segment emerges as the fastest-growing category, fueled by the surge in online shopping trends. Craft chocolate makers leverage digital platforms to connect directly with consumers, offering a personalized and convenient avenue for exploring and purchasing unique, artisanal chocolates. The dynamic growth of E-commerce reflects the industry's adaptation to evolving consumer behaviors and preferences.

Distribution Channel Segment Analysis

According to Cognitive Market Research, in the craft chocolate market, online retail stands as the dominant distribution channel, capitalizing on the growing trend of e-commerce and providing consumers with a convenient platform to explore a diverse array of artisanal chocolate offerings. 

Artisan shops have emerged as the fastest-growing category, offering a unique, hands-on experience that resonates with consumers seeking authenticity and a personalized touch in their craft chocolate purchases. The appeal of direct interaction with producers, coupled with the experiential nature of these specialized shops, positions them as a rapidly expanding segment, reflecting the market's dynamic response to consumer preferences for both convenience and an immersive chocolate-buying experience.

Which Region Dominates the Market in 2023, and Which Region is Expanding at the Fastest CAGR?

According to Cognitive Market Research, North America asserts its dominance as the leading region in the Craft Chocolate Market, showcasing a robust and mature market. The region's affinity for premium and artisanal products, coupled with a burgeoning interest in ethically sourced and sustainable chocolates, propels North America to the forefront. Craft chocolate makers in North America benefits from a sophisticated consumer base that values quality and uniqueness, contributing to the region's leading position. The presence of established craft chocolate brands and a culture that appreciates diverse flavor profiles further solidifies North America's prominence in the global craft chocolate landscape.

Europe is experiencing the most rapid expansion in the craft chocolate market, signaling a shift in consumer preferences toward high-quality, artisanal chocolates. The region's rich culinary traditions and discerning palates align seamlessly with the craft chocolate movement, driving increased demand. European consumers' emphasis on ethically sourced ingredients and unique flavor combinations positions Europe as a dominant force in the market's growth. The proliferation of craft chocolate makers, each offering a distinct narrative and flavor profile, contributes to Europe's domination in the dynamic and evolving world of craft chocolate.

COMPETITIVE LANDSCAPE: CRAFT CHOCOLATE MARKET

In the competitive Craft Chocolate Market, major players strive for dominance through strategic initiatives, technological advancements, and diverse product offerings, often reinforcing their positions with partnerships, acquisitions, and innovative product launches.

• January 2022: Blommer Chocolate Company, North America's largest cocoa processor and ingredient chocolate supplier, unveils the inauguration of a new R&D Applications Lab situated in downtown Chicago, IL, within The Merchandise Mart.
• January 2023: Ghirardelli Chocolate Company has officially commenced the renovation of its second flagship store at Ghirardelli Square, emphasizing the company's distinguished legacy as a pioneering force in U.S. chocolate and its enduring ties to San Francisco since the 1850s.

Some Prominent Players in the Global Craft Chocolate Market include:

• Ah Cacao Real Chocolate
• Amano Artisan Chocolate
• Amedei
• Amul
• Askinosie Chocolate
• Barry Callebaut
• Blommer Chocolate Company
• Bonnat Chocolates
• Castronovo Chocolate
• Chocolaterie Robert
• Cocoa Processing Company
• E. Wedel
• Galle & Jessen
• Ghirardelli
• Hershey's
• Kraš
• Laima
• Taza Chocolate
• Theo Chocolate
• Phillies Chocolate

Market Summary:

• The global Craft Chocolate Market will expand significantly by 10.20% CAGR between 2023 and 2030.
• Ethical sourcing propels the Craft Chocolate Market's growth as consumers prioritize transparency and fair trade, emphasizing the market's commitment to ethical values.
• In the Craft Chocolate Market, the Bars segment commands dominance.
• Dark Chocolate takes center stage in the Craft Chocolate Market, claiming a dominant position.
• North American Craft Chocolate will continue to lead, whereas the European Craft Chocolate Market will experience the most substantial growth until 2030.

SEGMENTATION: Craft Chocolate Market

Type Outlook:

• Dark Chocolate
• White Chocolate
• Milk Chocolate
• Ruby Chocolate
• Blended Chocolate

Form Outlook:

• Bars
• Truffles
• Bonbons
• Discs
• Dragees
• Slabs
• Nibs

Application Outlook:

• Retail
• Wholesale
• E-commerce
• Specialty Stores
• Gift Shops

Distribution Channel Outlook:

• Supermarkets/Hypermarkets
• Convenience Stores
• Online Retail
• Artisan Shops

Regional Outlook:

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • South East Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America
• Middle East and Africa
  • GCC Countries
  • South Africa
  • Rest of MEA

Frequently asked questions regarding the global Craft Chocolate market

1. What is the market size for the Craft Chocolate Market in 2023?

Answer- The global market size for the craft chocolate market in 2023 was 13.3 billion USD.

2. What is the growth rate for the Craft Chocolate Market over the forecast period?

Answer- The global Craft Chocolate Market is expected to grow with a CAGR of 10.20% over the projected period.

3. Which is the leading region of the market for Craft Chocolate market?

Answer- North America held a significant global Craft Chocolate Market revenue share in 2023.

4. Which region is projected to detect the fastest growth in the Craft Chocolate Market over the forecast period?

Answer- Europe will witness the fastest growth of the global Craft Chocolate Market over the coming years.

5. Which country is leading in the Craft Chocolate Market in 2023?

Answer- The U.S. had the most significant global Craft Chocolate Market revenue share in 2023.

6. What are the key drivers for the growth of the Craft Chocolate market?

Answer- Ethical sourcing propels the Craft Chocolate Market's growth as consumers prioritize transparency and fair trade, emphasizing the market's commitment to ethical values.

7. Which is the significant Craft Chocolate Market segment by distribution channel?

Answer- The artisan shops segment had the largest share in the global Craft Chocolate Market by distribution channel.

8. Which is the significant segment in the Craft Chocolate Market by type?

Answer- In 2023, the ruby chocolate segment had a significant revenue share in the global Craft Chocolate Market in terms of type.

Regional Insights

• North America

According to Cognitive Market Research, North America held the major market share in 2023 and accounted for more than 40% of the global revenue. North America emerges as the dominant force in the Craft Chocolate Market, boasting a substantial market size of $5.32 billion and a robust Compound Annual Growth Rate (CAGR) of 8.6%. This region's prominence is fueled by a growing consumer preference for premium and ethically sourced chocolates. Craft chocolate makers in North America leverage a commitment to quality, unique flavor profiles, and sustainable sourcing practices, aligning with the evolving tastes and values of discerning consumers. The market experiences a surge as artisans and small-batch producers thrive, offering a diverse range of high-quality, artisanal chocolates. With a strong emphasis on authenticity and craftsmanship, North America solidifies its leadership position, shaping the trajectory of the Craft Chocolate Market and setting the stage for continued growth and innovation in the artisanal chocolate sector.

• Europe

According to Cognitive Market Research, the European Craft Chocolate Market accounted for approximately 30% of the global revenue. Europe emerges as the fastest-growing region in the Craft Chocolate Market, exhibiting a compelling market size of $3.99 billion and an impressive Compound Annual Growth Rate (CAGR) of 8.9%. This rapid expansion is fueled by a dynamic landscape characterized by a rising appreciation for artisanal and high-quality chocolates. Craft chocolate makers in Europe gain traction by offering unique flavor experiences, emphasizing premium ingredients and embracing traditional production methods. Consumers across the continent are drawn to the authenticity and craftsmanship associated with European craft chocolates. The market's growth is further propelled by a cultural affinity for fine chocolates and an increasing awareness of ethical and sustainable sourcing practices. Europe's progressive approach to chocolate craftsmanship positions it as a key player in driving the sustained expansion of the Craft Chocolate Market, setting trends and standards for the global industry.

• Asia Pacific

According to Cognitive Market Research, Asia Pacific commands a substantial 23% share of the global Craft Chocolate Market, poised for impressive growth with a projected 12.0% Compound Annual Growth Rate (CAGR) during the forecast period, contributing to a market size of around $3.06 billion. In this dynamic region, the Craft Chocolate Market experiences significant growth in the "Dark Chocolate" segment, reflecting a growing preference for rich and nuanced flavor profiles. The Asia Pacific market is characterized by a surge in demand across various applications, with a notable uptick in retail and e-commerce channels. While Asia Pacific dominates in terms of market share, Europe stands out as the fastest-growing region in the craft chocolate sector, showcasing its progressive approach and strategic alignment with evolving consumer tastes and contributing to the region's rapid market expansion.

• Latin America

According to Cognitive Market Research, Latin America commands a 5% share of the global Craft Chocolate Market, anticipating a remarkable 10.0% Compound Annual Growth Rate (CAGR) during the forecast period, contributing to an estimated market size of approximately $0.67 billion. In this region, the "Dark Chocolate" segment exhibits significant growth, fueled by a rising preference for rich and intense flavor profiles among Latin American consumers. Craft chocolate makers in Latin America capitalize on traditional cacao cultivation practices and unique regional flavors, enhancing the appeal of their products. While Latin America solidifies its domination in dark chocolate offerings, North America stands out as the fastest-growing region in the Craft Chocolate Market, driven by a growing affinity for premium and ethically sourced chocolates, shaping the trajectory of the global craft chocolate industry.

• Middle East and Africa

According to Cognitive Market Research, the Middle East and Africa contribute approximately 2% to the global Craft Chocolate Market, poised for impressive growth with an anticipated Compound Annual Growth Rate (CAGR) of 10.1% over the forecast period, reaching a market size of around 0.27 USD billion. In this region, Dark Chocolate emerges as a segment displaying significant growth, reflecting an evolving consumer palate towards premium and rich cocoa flavors. The Middle East and Africa Craft Chocolate Market showcases a rising trend of consumers seeking unique and high-quality chocolate experiences. While Europe dominates the global craft chocolate scene, the Middle East and Africa position themselves as the fastest-growing region, leveraging an increasing appreciation for artisanal products and a burgeoning consumer base with a penchant for diverse chocolate varieties.