Milk Chocolate Market to Expand at 6.2% CAGR with Advancement in Manufacturing Process

Published: Thu Oct 25 2018

Milk Chocolate Market: Product Evolution

The inception of a unique formula that introduced the world to "milk chocolate" dates back to the late 1800s. Spanning for over two hundred years of chocolate history, milk chocolate is one of the most indulgent product of the dairy and chocolate industry. Currently, European dietary lifestyles reflect an extensive presence of milk chocolate products, the popularity of which continues to spread across developed consumer marketplaces in the world.

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The original formula for milk chocolate represented a unique blend of milk, dairy ingredients, sugars, sweeteners and chocolate. Today, milk chocolate products have evolved to a considerable extent, and contain additional ingredients such as chocolate liquor, milk solids, cocoa butter, and lecithin. Changing tastes of consumers will drive the evolution of milk chocolate in the future, and new formulas will be tested by manufacturers to assess the scope of consumption.

According to Transparency Market Research, the global milk chocolate market will be worth over US$ 95 billion by the end of 2026.

A key trend influencing the manufacturing of milk chocolate is the growing demand for a variety of flavors to satisfy the taste buds of diverse consumer bases across the globe. In the coming years, milk chocolate producers will be adhering to the standardized formulas and won’t let new formulations impact their product safety and quality. The milk chocolate of tomorrow will contain near-equal amounts of chocolate liquor and milk solids, and less than 4% of milk fats to keep it trending among health-conscious consumers.

Global Milk Chocolate Market: Insights on Geographic Expansion (2017-2026)

Majority of milk chocolate will be produced and consumed in Europe, followed by North America and the Asia-Pacific excluding Japan (APEJ) region. The report estimates that during the period of assessment, 2017-2026, the milk chocolate market in Europe will reflect high value growth at a CAGR of 6.8%.
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