Global Chocolate Market to Reach $161 Billion by 2024

The global chocolate market was valued at around $103.28 billion in 2017 and is expected to reach approximately $161.56 billion in revenue by 2024, growing at a CAGR of around 7% between 2018 and 2024, according to a Zion Market report Chocolate Market by Type of Chocolate (Dark, Milk, and White) and by Sales Category (Everyday Chocolate, Premium Chocolate, and Seasonal Chocolate). The huge demand for chocolate on seasonal and festival occasions is driving the expansion of this market. However, the high cost of raw material might hamper the global chocolate market during the forecast period.