The global truffle chocolate market size is poised to grow by USD 1.45 billion during 2020-2024, progressing at a CAGR of almost 4% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
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Technavio has announced its latest market research report titled Global Truffle Chocolate Market 2020-2024 (Graphic: Business Wire)
The truffle chocolate market is driven by the growing popularity of online distribution channels. E-commerce enables customers to access regional and global brands of truffle chocolates. The significant rise in the number of e-commerce vendors across the world is fueled by the increased global penetration of smartphones. Brand-owned online platforms and pure-play e-retailers are offering truffle chocolates. Amazon.com (Amazon) and eBay Inc. (eBay) are among the major online retailers of truffle chocolates globally. Personalized shopping assistance and suggestions on products, including sugar-free foods and beverages, are the two major benefits of shopping online, which are leading to the growth of the market in focus.
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The major truffle chocolate market growth came from the boxed-assortments-based truffle chocolate segment in 2019, and is expected to witness the fastest growth during the next five years. This is primarily because of the growing influence of online retailing.
Europe was the largest region in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. This is attributed to factors