In this article, we will talk about 20 countries with the best desserts in the world. If you wish to skip our detailed analysis, you can go directly to the 5 Countries With The Best Desserts In The World.
Chocolate’s Dessert Symphony
Usually served as the last course of a meal, desserts are sweet, decadent, and delicious. They are the perfect ending to a hearty meal. Chocolate is one of the most noteworthy ingredients used in many beloved desserts like cookies, cakes, and brownies.
According to a report by Grand View Research, the global chocolate market was valued at $116.11 billion in 2022. It has been estimated that the market will grow to $156.74 billion by 2030, at a compound annual growth rate (CAGR) of 3.7%. The global chocolate market was one of the least impacted markets by the pandemic. The governments imposed lockdowns, forcing people to stay home, which initially caused a small decline in demand. However, this market quickly recovered as people started buying in bulk and piling on groceries when staying home.
The chocolate market is also witnessing a steadily increasing demand for high-quality chocolates. The widespread recognition of the health benefits of chocolate is the driving factor for this demand. Furthermore, consumers are also looking up vegan, sugar, and gluten-free options for their cherished chocolates. Artificial chocolates have been forecasted to have a CAGR of 9.5% from 2022 to 2030. Chocolate causes the brain to release serotonin, a happy hormone. It is also a staple in many celebrations like Valentine’s Day, Easter, and Halloween.
Europe dominated the global chocolate market in 2021, making up almost 47%. Europe is one of the biggest producers and exporters of chocolate in the world. Steady growth is expected during the forecast period as well. However, the report predicts that the Middle East and Africa will be the fastest-growing regions from 2022 to 2030, with a CAGR of 6.7%. The rising consumer income and increasing exposure to new products are expected to fuel the growth of this region. You can also check out: 20 Countries That Eat Chocolate the Most.
Weather Extremes And Cocoa Production
2023 has been a relatively difficult year for chocolate production. The unpredictable weather conditions have created a tumultuous situation in the industry. On October 23, CNBC reported that El Niño has impacted cocoa production for two seasons. El Niño is a climate pattern characterized by the unusual warming of surface waters in the eastern Pacific Ocean. Cocao is the main ingredient in chocolate production and needs a very specific environment to grow in. The weather disruption has made the cocoa prices reach their highest in almost four decades, $3,786 per metric. The high rates have increased the price of chocolate products around the world. In September, the price of chocolates around the world was 7.5 percent higher than a year ago.
There has been some improvement in the overall weather conditions. On November 13, Reuters reported that rain and sunny spells will likely improve soil moisture content and the October-to-March yield in the Ivory Coast. Many cocoa-producing areas including Daloa, Bongouanou, and Yamoussoukro have had more than average rains. Rain nurtures the cocoa crop. As the dry spell has finally experienced a break, the overall quality of the cocoa is anticipated to improve as well.
Major Players In Chocolate Industry
Nestle (OTC:NSRGY) is one of the biggest players in the global chocolate market. It is a giant with names like KitKat and Smarties under its belt. The company is constantly expanding through acquisitions. On September 7, Reuters reported that the company is buying majority stakes from a private equity company, Advent International, for Grupo CRM. With more than a thousand chocolate shops, Grupo CRM will help Nestle (OTC:NSRGY) secure its position in Brazil. It will also help the company expand its presence in the super premium chocolate segment. You can also check out: 20 Best Chocolate Brands in the World.
Mondelez International Inc. (NASDAQ:MDLZ) is another major player in the chocolate industry. The company was founded in 2012 and is headquartered in Chicago, Illinois. Their products such as Cadbury dairy milk chocolates, flake, and eclairs chocolates are loved worldwide. The company believes in innovation and evolves its brands according to customer demands. On October 10, Mondelez International Inc. (NASDAQ:MDLZ) announced repositioning its 115-year-old Toblerone brand with an updated signature, “Never Square.” The company has also introduced new products, including Toblerone Truffles and Tiny Toblerone, to align with the updated brand image. The gifting options by the company enable consumers to assemble the perfect assortment of Toblerone chocolates to share with their loved ones.
The Hershey Company (NYSE:HSY) is another giant in the chocolate market with popular products such as Hershey’s Kisses and Hershey’s milk chocolate. On October 26, the company reported earnings for the fiscal third quarter of 2023. The company reported an EPS of $2.6 and beat estimates by $0.15. The company’s revenue for the quarter grew by 11.06% and amounted to $3.03 billion, ahead of market consensus by $79.55 million. Here are some comments from the company’s Q3 2023 earnings call:
“We have seen a normalization of patterns from consumers when they’re shopping as their concerns about potential availability are not there this year like they were last year. 50% of the season does sell through in the last two weeks of October. So we still do have a bit of product to sell through. And with Halloween falling on a Tuesday, there will be a lot of sales this weekend. We have seen a little bit of softness in the season from some cohorts that have indicated affordability was a concern in their participation and it wasn’t just candy it was some other seasonal categories, including decoration, costumes, et cetera. But we are out there building aggressive displays, the product is out there, and we are continuing to drive to deliver our expectation for the season”.
Dessert is one of the most beloved parts of a meal. Many countries have perfected a multitude of their desserts over time. We have made a list of the top countries with the best desserts in the world.
20 Countries With Best Desserts In The World
Our Methodology
We employed a consensus methodology to make our list of the countries with the best desserts in the world. We looked up lists of the countries with the best desserts compiled by CNN, Delish, Expat Explore, and Celebrity Cruises. We extracted the countries that appeared in at least two or more sources and calculated their average ranking based on their relative positions in each of these lists. We then sorted the data using the number of mentions as our primary metric. The countries are arranged in ascending order of the number of mentions and their average ranking.
20 Countries With Best Desserts In The World
20. China
Number of Mentions: 2
Average Ranking Across Sources: 26.5
The desserts in China perfectly capture the essence of the Chinese cuisine. They use diverse flavors ranging from glutenous rice flour to red beans. Some of the most popular desserts in China are tangyuan, egg tarts, and pumpkin pancakes. China has been mentioned twice across our sources and had an average ranking of 26.5.
The global chocolate market is dominated by Nestle (OTC:NSRGY), The Hershey Company (NYSE:HSY), and Mondelez International Inc. (NASDAQ:MDLZ).
19. Spain
Number of Mentions: 2
Average Ranking Across Sources: 22
Spain has a rich culture and history reflected in the country’s large assortment of desserts. Some of the most noteworthy desserts include leche frita, bizcocho, and torrijas. The country has been mentioned in half of our sources, with an average ranking of 22.
18. Netherlands
Number of Mentions: 2
Average Ranking Across Sources: 20.5
The Netherlands has some of the best desserts in the world. Some of the most popular desserts include poffertjes, speculaas, and stroopwafel. The Netherlands has been mentioned in two of the sources. The country also has an average ranking of 20.5.
17. Russia
Number of Mentions: 2
Average Ranking Across Sources: 19.5
Russia has some of the best desserts in the world. The country has masterfully mixed traditional and modern flavors. Paskha and varenye are among the most famous Russian desserts. The country has been mentioned in two of the four sources. Russia has an average ranking of 19.5 in these sources.
16. Sweden
Number of Mentions: 2
Average Ranking Across Sources: 14.5
Sweden is among the list of countries with the best desserts. Toscakaka and havreflarn are renowned across the globe. The country also appears in two of the four sources. The average ranking for Sweden in these sources was 14.5.
15. Egypt
Number of Mentions: 2
Average Ranking Across Sources: 13
Egypt is a country whose rich culture and history are reflected in its desserts. With popular desserts like umm ali and qatayef, the country has been mentioned in half of our sources. The country had an average ranking of 13 across these sources.
14. Austria
Number of Mentions: 2
Average Ranking Across Sources: 8.5
Sacher-torte and krapfen are some of the most popular Austrian desserts. Austrian desserts are enjoyed by people in coffeehouses across the country or are made at home. Austria appeared in two of the four sources. The country had an average ranking of 8.5 in these sources.
13. Sicily
Number of Mentions: 2
Average Ranking Across Sources: 8.5
Sicily is one of the countries with the best desserts in the world. People across the globe love Sicilian desserts like cannoli and cassata. The country has appeared in two of the four sources. The country had an average ranking of 8.5 in these sources.
12. Mexico
Number of Mentions: 2
Average Ranking Across Sources: 5.5
Mexico is renowned for its food globally. The country has a rich culinary history. Churros and buñuelos are some of the most famous Mexican desserts. The country had an average ranking of 5.5 and was mentioned in two sources.
11. United Kingdom
Number of Mentions: 3
Average Ranking Across Sources: 22.3
The United Kingdom is one of the countries with the best desserts in the world. The country’s desserts offer a delightful blend of flavors and textures. Sticky toffee pudding and trifle are relished across the globe. The country appeared in three of the four initial sources. The United Kingdom had an average ranking of 22.3 across these sources.
10. Australia
Number of Mentions: 3
Average Ranking Across Sources: 22.3
Desserts in Australia present a masterful combination of modern and traditional influences. With popular desserts like pavlova and lamingtons, it is one of the countries with the best desserts in the world. The country appeared in 3 sources with an average ranking of 22.3.
9. India
Number of Mentions: 3
Average Ranking Across Sources: 17
India has a rich culinary history. The diverse country has many globally renowned desserts, including gulab jamun and halwa. The country has been mentioned in three of the four sources. India has an average ranking of 17 across these sources.
8. Argentina
Number of Mentions: 3
Average Ranking Across Sources: 11.7
Argentina has some of the best desserts in the world. Often featuring the beloved ingredient, dulce de leche, the Argentinian desserts have a separate class. The country has been mentioned in three sources with an average ranking of 11.7.
7. South Africa
Number of Mentions: 3
Average Ranking Across Sources: 10.3
South Africa is a country with captivating natural beauty. The country has some of the best desserts in the world, including malva pudding and koeksisters. South Africa appeared in three of the four sources and has an average ranking of 10.3.
6. Germany
Number of Mentions: 3
Average Ranking Across Sources: 7.7
Germany is among the countries with the best desserts in the world. The black forest cake from Germany is enjoyed across the globe. The country was mentioned in three sources and had an average ranking of 7.7.
Some of the top stocks in the global chocolate industry to consider investing in include Nestle (OTC:NSRGY), The Hershey Company (NYSE:HSY), and Mondelez International Inc. (NASDAQ:MDLZ).
Click to continue reading and see the 5 Countries With The Best Desserts In The World.
Suggested articles:
- 21 Best Places for Canadians to Retire Abroad
- 20 Best Cheap Tequilas Under $50 for 2024
- Ken Fisher Portfolio: 12 Biggest Positions
Disclosure: None. 20 Countries With The Best Desserts In The World is originally published on Insider Monkey.
Hedge Fund Resource Center