"Market Intelligence that Adds Flavour to Your Success"

Milk Chocolate Market Size, Share & Industry Analysis, By Form (Candies, Bars, Chocolate Coated Nuts, Chocolate Chips, Others), By Nature (Conventional, Organic), By Distribution Channel (Hypermarkets/Supermarkets, Retail Stores, Specialty Stores, Online Channels) and Regional Forecast, 2024-2032

Region :Global | Report ID: FBI101471 | Status : Ongoing



Addition of value-added ingredients such as high-quality milk solids, cocoa butter, and chocolate liquor along with basic ingredients such as sweeteners, dairy ingredients, and cocoa to milk chocolates is predicted to be one of the smartest strategies adopted by market players to increase their customer base.

With changing taste preference, customers are now seeking to invest in indulgence products that have been made with innovative ideas and healthier ingredients. Launch of milk chocolates in a variety of flavors and in attractive packaging is a growing trend not only in the developed market but also in emerging economies. The aforementioned reasons are anticipated to act as some of the major driving factors for the growth of the global milk chocolate market during the foreseeable years.

To gain extensive insights into the market, Request for Customization

Launch of new and healthy products with low sugar content is one of the prominent growth strategies of the leading market players operating in the global milk chocolate market. Furthermore, mergers, acquisitions, and collaborations are some another crucial strategies that leading market players such as Cargill Incorporated, Fuji Oil Holdings, and others are adopting in order to expand their global reach and strengthen their product portfolio. For instance, in 2015, chocolate confectionery giant Cargill acquired the global chocolate business of Archer Daniels Midland Co.

Milk chocolate is prepared by using a combination or blend of ingredients that commonly include sweeteners, dairy ingredients, milk, chocolate, and sugars. To identify and differentiate different chocolate types, the Food & Drug Administration of the U.S. has set a fixed parameter. According to the FDA, for chocolate to get recognized as milk chocolate, must contain at least 12% milk solids, 10% chocolate liquors, and 3.39% milkfat.

High demand for chocolate-based confection across developed economies, and tremendously growing demand for indulgence products across developing nations such as China, India, Korea, and others is projected to propel the market growth of global milk chocolate market crucially during the foreseeable years. Rising demand for premiumised milk chocolate due to increasing consumer willingness to get quality and sustainable chocolate products is another prominent reason that is expected to impact the milk chocolate market positively during the upcoming years. Furthermore, the growing trend of gifting chocolates during festive seasons can aid the growth of the market.

High fluctuations in the price of cocoa which is one of the primary ingredients used in the production of milk chocolates is anticipated to hinder the global milk chocolate market growth during the upcoming years. Furthermore, the high price of organic milk chocolate, coupled with growing consumer inclination towards dark chocolate products can also act as restraining factor for the growth of the market. 

Key Players Covered

Some of the major companies that are present in the global milk chocolate market are Nestle S.A., Mars Incorporated, Barry Callebaut, Mondelez International, GODIVA Chocolates, Meiji Co. Ltd., Blommer Chocolate Company, Moonstruck Chocolate, Ferrero, and The Hershey Company.




By Form

  • Candies

  • Bars

  • Chocolate Coated Nuts

  • Chocolate Chips

  • Others

By Nature

  • Conventional

  • Organic

By Distribution Channel

  • Hypermarkets/Supermarkets

  • Retail Stores

  • Specialty Stores

  • Online Channels

  • Others

By Geography

  • North America (USA, Canada, and Mexico)

  • Europe (France, Germany, Italy, Spain, U.K., Russia, and Rest of Europe)

  • Asia Pacific (China, India, Japan, Australia, and Rest of Asia Pacific)

  • South America (Brazil, Argentina, and Rest of South America)

  • Middle East & Africa (South Africa and Rest of ME&A)

On the basis of form, the global milk chocolate market has been segmented into candies, bars, chocolate coated nuts, chocolate chips, and others. Among these, chocolate bars and candies segment is anticipated to hold the majority market share in the global market, owing to high consumer preference for chocolate bars and candies. Easy availability of these aforementioned milk chocolate forms in the market, coupled with their wide popularity across developed as well as developing economies is further projected to drive the growth of the segments.

By nature, the global milk chocolate market has been classified as conventional milk chocolate and organic milk chocolate. Conventional milk chocolate segment is anticipated to dominate the global market, due to their budget-friendly nature and high production across the globe. However, the demand for organic milk chocolate is anticipated to grow at a rapid pace during the upcoming years, especially in developed regions due to growing organic food trend in the regions, attributable to health benefits offered by them along with leaving least environmental footprint. According to the International Cocoa Organization (ICCO), the demand for organic cocoa products is growing rapidly, due to increasing concern of consumers towards the safety of their food as well as several other environmental effects or impacts.

Regional Analysis

Europe currently holds the major market share in the global milk chocolate market, followed by North America and is anticipated to maintain its dominance throughout the forecast years, due to high production and consumption of milk chocolate across the region. Presence of leading global milk chocolate manufacturers in Europe and North America such as Mondelez International, Cargill, Nestle S.A., and others is another prominent reason for the growth of the region. The milk chocolate market in Asia Pacific is anticipated to rise crucially over the upcoming years attributed to a considerable increase in discretionary spending habits of consumers based in the region.

Rising awareness about several health benefits offered by cocoa-based edibles is further expected to fuel the growth of Asia Pacific milk chocolate market.  Furthermore, increasing interest of international market players in prominent Asian countries, such as India and China, and adoption of fair trade cocoa sourcing practices by Asian players is anticipated to aid the market growth of the region.

Key Industry Developments

  • In July 2019, Mondelez’s Cadbury launched a novel version of its pre-existing Dairy Milk chocolate bar which is a “better for you” chocolate bar. The new milk chocolate bar claims to contain 30% less sugar than the previous one.

  • In May 2019, Brach’s Confection based in Illinois and known for its traditional and seasonal confections launched BRACH’S Milk Chocolate Double Dipped Hazelnuts

  • Ongoing
  • 2023
  • 2019-2022

Personalize this Research

  • Granular Research on Specified Regions or Segments
  • Companies Profiled based on User Requirement
  • Broader Insights Pertaining to a Specific Segment or Region
  • Breaking Down Competitive Landscape as per Your Requirement
  • Other Specific Requirement on Customization
Request Customization Banner

Food & Beverages Clients

Fuji film

Client Testimonials

“We are quite happy with the methodology you outlined. We really appreciate the time your team has spent on this project, and the efforts of your team to answer our questions.”

- One of the largest & renowned medical research centers based in the U.S. on a report on the U.S. NIPT Market.

“Thanks a million. The report looks great!”

- Feedback from a consultant on a report on the U.S. Beef Market.

“Thanks for the excellent report and the insights regarding the lactose market.”

- Brazil based company specializing in production of protein ingredients.

“I liked the report; would it be possible to send me the PPT version as I want to use a few slides in an internal presentation that I am preparing.”

- Global Digital Services Agency on a report on the Global Luxury Goods Market.

“This report is really well done and we really appreciate it! Again, I may have questions as we dig in deeper. Thanks again for some really good work.”

- U.S.-based biotechnology company focussing on treatment of chronic pain.

“Kudos to your team. Thank you very much for your support and agility to answer our questions.”

- Europe-based provider of solutions to automate data centre operations.

“We appreciate you and your team taking out time to share the report and data file with us, and we are grateful for the flexibility provided to modify the document as per request. This does help us in our business decision making. We would be pleased to work with you again, and hope to continue our business relationship long into the future.”

- India-based manufacturer of industrial and specialty intermediates with a strong global presence.

“I want to first congratulate you on the great work done on the Medical Platforms project. Thank you so much for all your efforts.”

- One of the largest cosmetics company in the world.

“Thank you very much. I really appreciate the work your team has done. I feel very comfortable recommending your services to some of the other startups that I’m working with, and will likely establish a good long partnership with you.”

- U.S. based startup operating in the cultivated meat market.

“We received the below report on the U.S. market from you. We were very satisfied with the report.”

- Global hearing aids manufacturer.

“I just finished my first pass-through of the report. Great work! Thank you!”

- U.S. based solar racking solutions provider.

“Thanks again for the great work on our last partnership. We are ramping up a new project to understand the imaging and imaging service and distribution market in the U.S.”

- World’s leading advisory firm.

“We feel positive about the results. Based on the presented results, we will do strategic review of this new information and might commission a detailed study on some of the modules included in the report after end of the year. Overall we are very satisfied and please pass on the praise to the team. Thank you for the co-operation!”

- Germany based machine construction company.

“Thank you very much for the very good report. I have another requirement on cutting tools, paper crafts and decorative items.”

- Japanese manufacturing company of stationery products.

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.