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GLOBAL CHOCOLATE INDUSTRY Explain in detail each of them Market    A) Global Market size B)...

GLOBAL CHOCOLATE INDUSTRY

Explain in detail each of them

Market   

A) Global Market size

B) Major Geographic Markets

C) Industry Growth Rate

D) Drivers of demand growth

E) Future of the Sector

business   Operations-Management   
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Answer #1

The global chocolate industry marked retail sales of about 98 billion US dollar in year 2016. It was valued at 103.28 USD billion

According to Zion market resrearch, the industry is expanded to reach 161.56 billion US dollar by year 2024. The growth rate is expected to grow at rate of 7% between 2018 and 2024.

Increasing disposable income specially in countries of Asia pacific is the major driving factor of this growth in demand of the industry. Changing habits which has replaced traditional sweets with chocolates on ocassions like festives is another driving factor.

The key players in the industry are Mars Inc., Mondeles international, nestle etc.

The scope is more prominent in gepgraphic areas of North America, Asia pacific, Europe, Latin America, Middle and Africa.

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