Spain Premium Chocolate Market Outlook (2018 to 2032)
Synopsis
The above chart is Spain Premium Chocolate Market Outlook (2018 to 2032)
Market Dynamics
the chocolate market in spain is expected to demonstrate a positive outlook in the forecast period of 2018-2032, with cagr of 4.39%. the chocolate market in spain has seen strong growth in the development of premium chocolate, as well as regular products, due to the hispanic population continiously increasing their consumption of the chocolate. the increasing sales of dark chocolates, including the gourmet versions, which are becoming increasingly popular due to its health benefits, are expected to contribute to the overall revenue of the chocolate market in spain. the chocolate market in spain is dominated by three major market players - nestlé, grupo lactalis and ferrero. nestlé leads the chocolate market in spain, with 38% market share which indicates the dominance of the company in the spanish chocolate market. grupo lactalis is the next major player, that overtook the market share of ferrero by introducing more premium products. the demand for premium and gourmet chocolate has been increasing in the spanish market, and major players such as nestlé and grupo lactalis are capitalising on these trends. in addition to the increasing demand of premium and gourmet chocolates, the product innovation in the market is also likely to contribute to higher revenues of the spanish chocolate market. manufacturers are investing in r&d activities in order to increase the product portfolio and gain market share. along with this, the manufacturers are increasing the presence of the products in supermarkets and online stores, while also expanding the product distribution internationally. the increasing health consciousness among spanish consumers, and their increased diet awareness has prompted them to incorporate chocolates with high nutritional value in their diets. these chocolates, which are likely to reduce the risk of cardio-vascular diseases, diabetes and obesity, along with their high affordability, are expected to fuel the demand for chocolates in the spanish market. also, the tourism industry in spain has been gaining traction, and the demand for the spanish chocolates is expected to rise during 2018-2032, due to the easy availability of the products within the country. overall, the spanish chocolate market is expected to experience robust growth, due to the increasing demand from the domestic consumers, increasing health consciousness, and the entry of premium and gourmet products in the market, during 2018-2032.
