Latest 2021 Developments

Africa Chocolate Market has seen the latest innovations which include the introduction of chocolates that are used to provide taste, flavour, and texture to food, in addition to nutritional and functional benefits. The favorable characteristics of cocoa butter (melting point and contraction) provide a melt-in-the-mouth sensation and easy removal of chocolates from the molds. This has prompted the manufacturers to experiment with different shapes and sizes of chocolate products. Additionally, chocolate also masks the unpleasant taste of tablets and encourages its usage for medicinal purposes. Cocoa processing companies in Ghana operate in an export zone called the Ghana Free Zones, which gives incentives to firms that export a minimum of 70% of their products. They are also eligible for tax exemptions on imports of raw materials and machinery. So, there's support for domestic processing if the products are exported, but not if they are produced for the domestic market.

Mergers and Acquisitions:

• On June 25, 2021, The Hershey Company announced the completion of its acquisition of Lily's.

To enquire about latest release please click here

Previous Release:

Africa Chocolate market is projected to grow over the coming years due to cocoa production and rising disposable income of middle-class consumers. Africa holds a dominant share in the world’s cocoa production as it is one of the major suppliers of cocoa beans, However, the region has been estranged from consuming by-products of cocoa such as chocolate for many years but strong growth is expected in Africa’s chocolate consumption patterns. The growth rate of chocolate consumption in African countries is comparable with that of China and India, the two fastest-growing chocolate markets in the world.

According to 6Wresearch, Africa Chocolate market size is projected to grow at a CAGR of 4.6% during 2019–25.  This is due to remarkable improvement in economic growth, expanding modern retail shops, rapid urbanization, and a possible preference towards the Westernized taste. Moreover, increasing investment by companies in attractive packaging would further propel the market growth during the forecast period.

In terms of regions, South Africa dominated the Africa Chocolate market owing to the presence of a large number of companies dealing in the product as compared to other countries as well as increased consumer demand in the region. Additionally, supermarkets and hypermarkets are the dominant distribution channels and are expected to register maximum growth over the coming years as well owing to a variety of chocolates and promotional schemes available in the region.

The Africa Chocolate market report comprehensively covers the market by product type, by distribution channels, by Chocolate type, and by key countries including South Africa. The Africa Chocolate market outlook report provides an unbiased and detailed analysis of the Africa Chocolate market trends, Africa Chocolate market share, opportunities, high growth areas, and market drivers which would help the stakeholders to device and align their market strategies according to the current and future market dynamics.

The Africa chocolate market is anticipated to grow fast in the upcoming years, on the back of one factor that is Cocoa which plays a significant role in raising the sale of chocolate in the Africa market. Africa carries a large production center in the planting of cocoa which intended an easy availability of high rich cocoa chocolate registered to a larger scope of growth of Africa chocolate market. Moreover, People carry different preferences which are categorized into several product forms i.e milk chocolate, white chocolate, and dark chocolate. And in Africa, the availability intended to raise the demand for dark chocolate more which leads to an increase in the growth rate of the chocolate market in Africa in upcoming years.

Key Highlights of the Report

• Africa Chocolate Market Overview
• Africa Chocolate Market Outlook
• Africa Chocolate Market Forecast
• Historical Data of Africa Chocolate Market Revenues for the Period 2015-2018
• Africa Chocolate Market Size & Africa Chocolate Market Forecast of Revenues, Until 2025
• Historical Data of Africa Chocolate Market Revenues, By Product Type, for the Period 2015-2018
• Market Size & Forecast of Africa Chocolate Market Revenues, By Product Type, Until 2025
• Historical Data of Africa Chocolate Market Revenues, By Distribution Channels, for the Period 2015-2018
• Market Size & Forecast of Africa Chocolate Market Revenues, By Distribution Channels, Until 2025
• Historical Data of Africa Chocolate Market Revenues, By Chocolate Type, for the Period 2015-2018
• Market Size & Forecast of Africa Chocolate Market Revenues, By Chocolate Type, Until 2025
• Historical Data of South Africa Chocolate Market Revenues and Volume, for the Period 2015-2018
• Market Size & Forecast of the South Africa Chocolate Market Revenues, Until 2025
• Market Drivers and Restraints
• Africa Chocolate Market Price Trends
• Africa Chocolate Market Trends and Industry Life Cycle
• Porter’s Five Force Analysis
• Market Opportunity Assessment
• Africa Chocolate Market Share, By Countries
• Africa Chocolate Market Share, By Players
• Africa Chocolate Market Overview on Competitive Benchmarking
• Company Profiles
• Key Strategic Recommendations

Markets Covered

The Africa Chocolate market report provides a detailed analysis of the following market segments:

• By Product Type
  • Milk Chocolate
  • White Chocolate
  • Dark Chocolate
• By Distribution Channels
  • Supermarkets/ Hypermarkets
  • Grocery/ Mom n Pop Stores
  • Convenience Stores
  • Online Channel
  • Others (Specialized Retailers, pharmacy, etc.)
• By Chocolate Type
  • Count lines & Straight lines
  • Molded or Bar Chocolates
  • Choco-panned & Sugar panned
  • Others (Box chocolates, novelties)

• By Countries
  • South Africa
  • Rest of Africa

Other Key Reports Available:

• North America Chocolate Market Report
• Middle East Chocolate Market Report
• Europe Chocolate Market Report
• Latin America Chocolate Market Report