Real and Compound Chocolate Market to Reach USD 35.62 Billion by 2026; Increasing Per Capita Expenditure on Indulgent Food Items to Fuel the Market

The global real and compound chocolate market size it slated to reach USD 35.62 billion by 2026, registering a CAGR of 4.97% during the forecast period. Increasingly favorable conditions for economical variety of chocolates in developing nations is likely to drive the growth of this market in the approaching decade. The per capita spending in these economies is still relatively low compared to the developed nations. For example, according to the International Monetary Fund, India’s Purchasing Power Parity was at $7,874 in 2018, while that of the US was at $62,606. These differences are expected to create lucrative opportunities for market players to develop more affordable chocolate products which will be widely consumed in these fledgling economies. Low-cost chocolate products made by the likes of Nestle and Cadbury are already popular in countries like India. Introduction of newer compound chocolate varieties would broaden the sales horizons of these companies further.