Manufacturers are focusing on label design to attract buyers. Lucrative packaging plays a key role in increasing chocolate liqueur sales, and thus, contributes toward the growth of the market. Therefore, the packaging is the key factor attracting consumers to try or purchase different chocolate liqueur options available in the market. Owing to COVID-19, an increase has been witnessed in the demand for healthy food products which results in a decrease in demand for chocolate liqueur products in the market. In addition, disruptions in respective manufacturing and supply-chain operations negatively impact market growth. However, there is a rise in the demand for chocolate liqueur mainly from the millennial generation due to it innovative taste and usage in a wide range of food products.
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Chocolate liqueur is available in two types, Dutch and natural, both of which are very popular amongst people owing to their taste and flavor. On the basis of taste, the Dutch chocolate is sweet in taste whereas gives the cocoa a sharp, almost citrus fruit finish. Increase in demand for chocolate liqueur mainly due to change in consumer taste and Chocolate Liqueur Market Demand for innovative products among younger generation boosts the market growth. In addition, increased penetration of handmade confectioneries using chocolate liqueur as a main ingredient is a major factor contributing toward the Chocolate Liqueur Market Growth.
Chocolate liqueur is an alcoholic beverage made using whiskey or vodka base and chocolate to impart a distinct chocolate flavor. Chocolate liqueur is generally offered in dark or light variants. It. The basic liqueur is a strong and sugary alcoholic beverage made from chocolate-flavored distilled spirits with added sugar for sweet taste.
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In 2021, Europe accounted for 42.8% share in the global chocolate liqueur market, and is expected to maintain its dominance during the forecast period. However, Asia-Pacific and North America are expected to possess the highest CAGRs of 5.1% and 4.2% respectively, owing to rise in health concerns among people and increase in popularity of liqueur chocolates in these regions. Chocolate liqueur products are available in attractive packaging of different colors and shapes. This gains attention of the buyers, which increases the sale of chocolate liqueur.
The major players analyzed across the global chocolate liqueur industry include Cargill Inc. The Archer Daniels Midland Company, United Cocoa Processor, Inc., Blommer Chocolate Company, Nestlé S.A., Valrhona, Barry Callebaut, Cemoi, JBCOCOA, India Cocoa, and Charley's. These major market players have adopted various strategies such as product launch and acquisition to expand their market reach.
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