COVID-19’s global impact on the size of the chocolate market is expected to reach $ 188.52 billion in 2020. As the number of coronavirus cases continues to increase worldwide, and is currently 2.8 million with more than 200,000 deaths, nations have imposed severe barriers and mass quarantines to suppress the spread of the infection.
For example, Italy, one of the hardest hit countries, has implemented a nationwide ban, quarantined 60 million people, and stopped all types of economic activity. Similar scenes have been seen in countries such as France, the UK, China and India. The sudden cessation of economic activity has severely impacted the growth of the chocolate market, as people have limited their purchases to essential items only, while stopping the consumption of leisure products such as chocolates and baked goods.
The advent of COVID-19 has brought the world to a standstill. We understand that this health crisis is affecting companies across industries. However, this will also go away. Increasing support from governments and several companies can help fight this highly contagious disease. Some industries are struggling and others are thriving. Overall, the pandemic is expected to affect almost every sector.
We are constantly striving to support and grow your company in the COVID-19 pandemic. Based on our experience and expertise, we offer a cross-industry impact analysis of the outbreak of corona viruses to prepare you for the future.
The COVID 19 outbreak is likely to have a negative impact on the chocolate market as the majority of countries have resorted to closures to control the spread of the disease.
The majority of the world’s population is blocked due to the rapid spread of the disease. To date, approximately 2.4 million confirmed cases and 165,229 deaths have been reported. The pandemic situation has resulted in various operations around the world being completely discontinued. Many key industries are at risk of falling sales. The food and beverage industry shows a slight decline in sales due to the complete blocking of various countries. This has had a negative impact on the chocolate market as people only buy essential products such as instant food, baked goods, ready meals, snacks and other packaged products. Chocolate products, which are a leisure food, are unlikely to generate much sales due to the COVID 19 outbreak.
Based on Fortune Business Insights analysis, the global chocolate market was $ 196.56 billion in 2019 and should reach $ 202.63 billion in 2020 before the onset of the disease. After the outbreak, the global market is expected to be worth $ 188.52 billion in 2020.

Graph 1: Impact of COVİD – 19 on Chocolate Market