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Wine Chocolate Market Report

RA08539

Wine Chocolate Market by Product Form (Solid and Liquid), Wine Type (Red Wine and White Wine), Sales Channel (Super Market/Hyper Markets, Convenience Stores & Specialty Stores, and Online), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2021-2028

RA08539

Pages: 170

Jan 2022

COVID-19

pandemic has shown to have an enormous impact on most
industries.

Click Here to access our comprehensive analysis of the

Impact of covid-19 on Wine Chocolate Market

Global Wine Chocolate Market Analysis

The global wine chocolate market is estimated to generate a revenue of $1,219.5 million by 2028, increasing from $723.5 million in 2020, at a noteworthy CAGR of 7.0%.

Market Synopsis

Increased demand for flavored chocolates among consumers due to variations in taste pallet is likely to drive the market for wine chocolate in the forecast time period.

However, lack of knowledge about the beneficial health effects of consuming wine chocolate among people is expected to restrain the wine chocolate market share growth.

According to the regional analysis of the market, the Asia-Pacific wine chocolate market is anticipated to grow at a CAGR of 8.10%, by generating a revenue of $311.0 million during the review period.

Wine Chocolate Overview

Wine chocolates have become popular among millennial due to its high antioxidant content which helps to improve their health and wellbeing. Wine chocolates are manufactured by adding appropriate amount of either red wine or white wine during the chocolate manufacturing. These are a great choice for gifting to friends and relatives on various festivals such as Thanksgiving and Christmas.

COVID-19 Impact on the Global Wine Chocolate Market

The occurrence of COVID-19 pandemic has declined the growth of wine chocolate market. As the impact of COVID-19 pandemic has had a severe impact on the health and wellbeing of the people across the world, the demand and production of wine chocolate has decreased unexpectedly. Amid high rate of corona virus transmission and prevalence of serious symptoms, worldwide restrictions and lockdown were imposed due to which the supply of raw ingredients such as grapes, wine, and cocoa to the confectionery industries was hampered. This factor has flourished the market growth of wine chocolate in the pandemic period.

Increasing Awareness about the Health Benefits of Wine Chocolate to Surge the Market Growth

Rising awareness about the benefits of consuming wine chocolate on health of the consumers is expected to drive the wine chocolate market shares in the forecast time period. Wine chocolate offers various health advantages like it helps in weight loss, improves heart beat rate, and develops strong mental health because it is made up of fruits like cocoa and grapes. Such factors are likely to speed up the growth of the wine chocolate market size in the predicted time frame. Also, inclination of young generation towards flavored chocolates, both for consuming and gifting to friends and relatives is likely to flourish the market of wine chocolate in the next few years.

To know more about global wine chocolate market drivers, get in touch with our analysts here.

 High Cost of Wine Chocolates to Restrain the Market Growth

Wine chocolates are very costly because they are manufactured from two expensive ingredients wine and cocoa. This factor is likely to restrain the wine chocolate market share growth in the predicted time period. Also, many communities do not regard wine as a good consumable drink and thus prefer to avoid consuming wine chocolates. These factors are further anticipated to restrict wine chocolate market share growth in the coming years.

Development of Product Portfolio by Major Companies to Fuel the Market Growth

Improvements in the existing wine chocolate products and new product launches are expected to drive the wine chocolate market share growth in future. Major market players in the wine chocolate market have started focusing on developing and launching new products to meet the rising demand for high nutrition and flavorful wine chocolates. Such factors are anticipated to drive the wine chocolate market size growth in future.

To know more about global wine chocolate market opportunities, get in touch with our analysts here.

Wine Chocolate Market
By Product Form

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The wine chocolate market by product form is segmented into Solid and liquid wine chocolates. Solid sub-segment is projected to generate maximum revenue and liquid wine chocolate is expected to register the fastest growth. Download PDF Sample Report

Source: Research Dive Analysis

The solid wine chocolate sub-segment is predicted to have the highest revenue in the global market and register a revenue of $693.4 million during the forecast period. The growth is attributed to rising demand of people for different shapes and texture of chocolates such as bar chocolates. Also, the solid form of wine chocolates is more preferred by people as a good gifting item to their friends and relatives on occasions like weddings and festivals. Such factors are anticipated to generate a huge revenue in the wine chocolate market.

The liquid form wine chocolate sub-segment is predicted to have the fastest growth in the global market and register a revenue of $524.8 million during the forecast period. The growth is attributed to rising demand of people for after dinner dessert in western countries like Europe and America.

Wine Chocolate Market
By Wine type

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The wine chocolate market by wine type is segmented into Red Wine and white wine chocolates. Red Wine sub-segment is projected to generate both maximum revenue and register the fastest growth.

Source: Research Dive Analysis

The red wine chocolate sub-segment is predicted to have the highest revenue in the global market and register a revenue of $776.7 million during the forecast period. The growth is attributed to rising consumption of red wine by people across the world. Red wine is a popular liqueur among people in western countries like Germany and the U.K. Also, red wine adds a different flavor to the chocolates which satisfies the taste buds of people who loves red wine drink. Apart from this, red wine is good for maintaining heart health which is further expected to raise the market revenue in the future.

Wine Chocolate Market
By Sales Channel

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The wine chocolate market by sales channel is segmented into supermarket/hypermarkets, convenience stores & specialty stores, and online. Supermarket/hypermarket sub-segment is projected to generate maximum revenue and online sub-segment to generate fastest growth.

Source: Research Dive Analysis

The supermarkets/hypermarket sub-segment is predicted to have a dominating market share in the global market and register a revenue of $622.6million during the forecast period. The sub-segment is projected to show an impressive growth in future owing to large number of shopping stores all across the world. Supermarket/hypermarkets offer a sense of satisfaction of hand picking goods on their own. Also, the products are properly displayed on the shelves which provides the people a better clarity about the product they wish to buy. Furthermore, people can instantly buy wine chocolate of any shape and size of their choice on the spot. All these factors are likely to boost the market growth in the coming years.

Online sub-segment is anticipated to have the fastest market growth and generate a revenue from $278.0 million in 2028. The increase in the revenue of the sub-segment owes to preference of working professionals for online shopping by staying at one place. They can also save their time which is otherwise wasted on unnecessary travel. Also, customers can get many offers and discounts on the products via online shopping. Such factors are likely to stimulate the market growth of wine chocolate in the forecast period.

Wine Chocolate Market
By Region

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The Wine Chocolate market was investigated across North America, Europe, Asia-Pacific, and LAMEA.

Source: Research Dive Analysis

The Market for Wine Chocolate in Europe to be the Most Dominant

The Europe wine chocolate market accounted $259.7million in 2020 and is projected to register a revenue of $431.7million by 2028. The growth is attributed to presence of major wine chocolate producing and consuming countries like Germany and France. People in these countries are more inclined towards consumption of healthy chocolates and confectioneries because they are more health conscious. These countries have largest consumption of flavored chocolates and drinks like wine chocolate that are rich source of nutrition. Such factors are further anticipated to boost the market growth in the region.

The Market for Wine Chocolate in Asia-Pacific to Observe the Fastest Growth

The Asia-Pacific wine chocolate market accounted $170.0 million in 2020 and is projected to register a revenue of $311.0 million by 2028. The growth is attributed to presence of major wine chocolate consuming countries like China and Japan. People in these countries are more inclined towards consumption of flavored chocolates as they improve heart health.

Competitive Scenario in the Global Wine Chocolate Market

Product launches and acquisitions are common strategies followed by major market players.

Competitive Scenario in the Global Wine Chocolate Market

Source: Research Dive Analysis

The companies involved in the wine chocolate market are Underberg AG, Duc d’O, Alfred Ritter, NEUHAUS, Raaka, Toms International, Ferrero S.p.a., Yildiz Holdings, Amedei Tuscany, and Halloren.

Porter’s Five Forces Analysis for the Global Wine Chocolate Market

  • Bargaining Power of Suppliers: The suppliers in the wine chocolate market are high in number. Several companies are working on product innovation and development.
    Thus, the bargaining power suppliers is moderate.
  • Bargaining Power of Buyers: Buyers are high in number and have huge bargaining power, they demand best services at low prices. This increases the pressure on the manufacturing companies to offer the best products in a cost-effective way. Thus, buyers can freely choose the product that best fits their preference. 
    Thus, the bargaining power of the buyers is high.
  • Threat of New Entrants: New companies entering the wine chocolate market are adopting new wine chocolate product launches in the market in minimum time frame. 
    Thus, the threat of the new entrants is high.
  • Threat of Substitutes: Presence of many different flavors and texture of chocolates in the market other than wine chocolate is likely to shift the customer’s preference towards different products.
    Thus, the threat of substitutes is high.
  • Competitive Rivalry in the Market: The competitive rivalry among industry leaders is rather intense, especially between the global players. These companies are launching their new products in the international market and strengthening the footprint worldwide. 
    Therefore, competitive rivalry in the market is high.

Aspect

Particulars

  Historical Market Estimations

  2019-2020

  Base Year for Market Estimation

  2020

  Forecast Timeline for Market Projection

  2021-2028

  Geographical Scope

  North America, Europe, Asia-Pacific, LAMEA

  Segmentation by Product Form

  • Solid
  • Liquid

  Segmentation by Wine Type

  • Red Wine
  • White Wine

  Segmentation by Sales Channel

  • Supermarkets/Hypermarkets
  • Convenience Stores & Specialty Stores
  • Online

  Key Companies Profiled

  • Underberg AG
  • Duc d’O
  • Alfred Ritter
  • NEUHAUS
  • Raaka
  • Toms International
  • Ferrero S.p.a.
  • Yildiz Holdings
  • Amedei Tuscany
  • Halloren.

Frequently Asked Questions
 

A. Germany captures the largest share of wine chocolate market.

A. Wine chocolate market is expected to experience a negative impact due to prevalence of COVID-19 pandemic.

A. Rise in the consumption of wine chocolate owing to good health benefits is expected to boost the market growth in future.

A. Constant development in wine chocolate product portfolio by companies is likely to drive the market in future whereas a taboo of consuming wine chocolates by people in many countries is likely to impede the market growth.

1.Research Methodology

1.1.Desk Research
1.2.Real time insights and validation
1.3.Forecast model
1.4.Assumptions and forecast parameters

1.4.1.Assumptions
1.4.2.Forecast parameters

1.5.Data sources

1.5.1.Primary
1.5.2.Secondary

2.Executive Summary

2.1.360° summary
2.2.By product form
2.3.By wine type
2.4.By sales channel

3.Market overview

3.1.Market segmentation & definitions
3.2.Key takeaways

3.2.1.Top investment pockets
3.2.2.Top winning strategies

3.3.Porter’s five forces analysis

3.3.1.Bargaining power of consumers
3.3.2.Bargaining power of suppliers
3.3.3.Threat of new entrants
3.3.4.Threat of substitutes
3.3.5.Competitive rivalry in the market

3.4.Market dynamics

3.4.1.Drivers
3.4.2.Restraints
3.4.3.Opportunities

3.5.Technology landscape
3.6.Regulatory landscape
3.7.Patent landscape
3.8.Market value chain analysis

3.8.1.Stress point analysis
3.8.2.Raw material analysis
3.8.3.Manufacturing process
3.8.4.Application analysis
3.8.5.Operating vendors

3.8.5.1.Raw material suppliers
3.8.5.2.product form manufacturers
3.8.5.3.product form distributors

3.9.Strategic overview

4.Wine Chocolate Market, by Product Form

4.1.Overview

4.1.1.Market size and forecast, by product form

4.2.Solid

4.2.1.Key market trends, growth factors, and opportunities
4.2.2.Market size and forecast, by region, 2020-2028
4.2.3.Market share analysis, by country 2020 & 2028

4.3.Liquid

4.3.1.Key market trends, growth factors, and opportunities
4.3.2.Market size and forecast, by region, 2020-2028
4.3.3.Market share analysis, by country 2020 & 2028

5.Wine Chocolate Market, by Wine Type

5.1.Overview

5.1.1.Market size and forecast, by wine type

5.2.Red Wine

5.2.1.Key market trends, growth factors, and opportunities
5.2.2.Market size and forecast, by region, 2020-2028
5.2.3.Market share analysis, by country 2020 & 2028

5.3.White Wine

5.3.1.Key market trends, growth factors, and opportunities
5.3.2.Market size and forecast, by region, 2020-2028
5.3.3.Market share analysis, by country 2020 & 2028

6.Wine Chocolate Market, by Sales Channel

6.1.Overview

6.1.1.Market size and forecast, by sales channel

6.2.Super Market/Hyper Markets

6.2.1.Key market trends, growth factors, and opportunities
6.2.2.Market size and forecast, by region, 2020-2028
6.2.3.Market share analysis, by country 2020 & 2028

6.3.Convenience Stores & Speciality Stores

6.3.1.Key market trends, growth factors, and opportunities
6.3.2.Market size and forecast, by region, 2020-2028
6.3.3.Market share analysis, by country 2020 & 2028

6.4.Online

6.4.1.Key market trends, growth factors, and opportunities
6.4.2.Market size and forecast, by region, 2020-2028
6.4.3.Market share analysis, by country 2020 & 2028

7.Wine Chocolate Market, by Region

7.1.Overview

7.1.1.Market size and forecast, by region

7.2.North America

7.2.1.Key market trends, growth factors, and opportunities
7.2.2.Market size and forecast, by product form, 2020-2028
7.2.3.Market size and forecast, by wine type, 2020-2028
7.2.4.Market size and forecast, by sales channel, 2020-2028
7.2.5.Market size and forecast, by country, 2020-2028

7.2.6.U.S.

7.2.6.1.Market size and forecast, by product form, 2020-2028
7.2.6.2.Market size and forecast, by wine type, 2020-2028
7.2.6.3.Market size and forecast, by sales channel, 2020-2028

7.2.7.Canada

7.2.7.1.Market size and forecast, by product form, 2020-2028
7.2.7.2.Market size and forecast, by wine type, 2020-2028
7.2.7.3.Market size and forecast, by sales channel, 2020-2028

7.2.8.Mexico

7.2.8.1.Market size and forecast, by product form, 2020-2028
7.2.8.2.Market size and forecast, by wine type, 2020-2028
7.2.8.3.Market size and forecast, by sales channel, 2020-2028

7.3.Europe

7.3.1.Key market trends, growth factors, and opportunities
7.3.2.Market size and forecast, by product form, 2020-2028
7.3.3.Market size and forecast, by wine type, 2020-2028
7.3.4.Market size and forecast, by sales channel, 2020-2028
7.3.5.Market size and forecast, by country, 2020-2028

7.3.6.Germany 

7.3.6.1.Market size and forecast, by product form, 2020-2028
7.3.6.2.Market size and forecast, by wine type, 2020-2028
7.3.6.3.Market size and forecast, by sales channel, 2020-2028

7.3.7.UK

7.3.7.1.Market size and forecast, by product form, 2020-2028
7.3.7.2.Market size and forecast, by wine type, 2020-2028
7.3.7.3.Market size and forecast, by sales channel, 2020-2028

7.3.8.France

7.3.8.1.Market size and forecast, by product form, 2020-2028
7.3.8.2.Market size and forecast, by wine type, 2020-2028
7.3.8.3.Market size and forecast, by sales channel, 2020-2028

7.3.9.Spain

7.3.9.1.Market size and forecast, by product form, 2020-2028
7.3.9.2.Market size and forecast, by wine type, 2020-2028
7.3.9.3.Market size and forecast, by sales channel, 2020-2028

7.3.10.Italy 

7.3.10.1.Market size and forecast, by product form, 2020-2028
7.3.10.2.Market size and forecast, by wine type, 2020-2028
7.3.10.3.Market size and forecast, by sales channel, 2020-2028

7.3.11.Rest of Europe

7.3.11.1.Market size and forecast, by product form, 2020-2028
7.3.11.2.Market size and forecast, by wine type, 2020-2028
7.3.11.3.Market size and forecast, by sales channel, 2020-2028

7.4.Asia Pacific

7.4.1.Key market trends, growth factors, and opportunities
7.4.2.Market size and forecast, by product form, 2020-2028
7.4.3.Market size and forecast, by wine type, 2020-2028
7.4.4.Market size and forecast, by sales channel, 2020-2028
7.4.5.Market size and forecast, by country, 2020-2028

7.4.6.China

7.4.6.1.Market size and forecast, by product form, 2020-2028
7.4.6.2.Market size and forecast, by wine type, 2020-2028
7.4.6.3.Market size and forecast, by sales channel, 2020-2028

7.4.7.Japan
7.4.7.1.Market size and forecast, by product form, 2020-2028
7.4.7.2.Market size and forecast, by wine type, 2020-2028
7.4.7.3.Market size and forecast, by sales channel, 2020-2028

7.4.8.India 

7.4.8.1.Market size and forecast, by product form, 2020-2028
7.4.8.2.Market size and forecast, by wine type, 2020-2028
7.4.8.3.Market size and forecast, by wine type, 2020-2028
7.4.8.4.Market size and forecast, by sales channel, 2020-2028

7.4.9.South Korea

7.4.9.1.Market size and forecast, by product form, 2020-2028
7.4.9.2.Market size and forecast, by wine type, 2020-2028
7.4.9.3.Market size and forecast, by sales channel, 2020-2028

7.4.10.Australia 

7.4.10.1.Market size and forecast, by product form, 2020-2028
7.4.10.2.Market size and forecast, by wine type, 2020-2028
7.4.10.3.Market size and forecast, by sales channel, 2020-2028

7.4.11.Rest of Asia Pacific

7.4.11.1.Market size and forecast, by product form, 2020-2028
7.4.11.2.Market size and forecast, by wine type, 2020-2028
7.4.11.3.Market size and forecast, by sales channel, 2020-2028

7.5.LAMEA

7.5.1.Key market trends, growth factors, and opportunities
7.5.2.Market size and forecast, by product form, 2020-2028
7.5.3.Market size and forecast, by wine type, 2020-2028
7.5.4.Market size and forecast, by sales channel, 2020-2028
7.5.5.Market size and forecast, by country, 2020-2028

7.5.6.Latin America  

7.5.6.1.Market size and forecast, by product form, 2020-2028
7.5.6.2.Market size and forecast, by wine type, 2020-2028
7.5.6.3.Market size and forecast, by sales channel, 2020-2028

7.5.7.Middle East 

7.5.7.1.Market size and forecast, by product form, 2020-2028
7.5.7.2.Market size and forecast, by wine type, 2020-2028
7.5.7.3.Market size and forecast, by sales channel, 2020-2028

7.5.8.Africa

7.5.8.1.Market size and forecast, by product form, 2020-2028
7.5.8.2.Market size and forecast, by wine type, 2020-2028
7.5.8.3.Market size and forecast, by sales channel, 2020-2028

8.Company profiles

8.1.Underberg AG

8.1.1.Company overview
8.1.2.Operating business segments
8.1.3.Product portfolio
8.1.4.Financial Performance
8.1.5.Recent strategic moves & developments

8.2.Duc d’O

8.2.1.Company overview
8.2.2.Operating business segments
8.2.3.Product portfolio
8.2.4.Financial Performance
8.2.5.Recent strategic moves & developments

8.3.Yakult Honsha Co. Ltd

8.3.1.Company overview
8.3.2.Operating business segments
8.3.3.Product portfolio
8.3.4.Financial Performance
8.3.5.Recent strategic moves & developments

8.4.Alfred Ritter

8.4.1.Company overview
8.4.2.Operating business segments
8.4.3.Product portfolio
8.4.4.Financial Performance
8.4.5.Recent strategic moves & developments

8.5.NEUHAUS

8.5.1.Company overview
8.5.2.Operating business segments
8.5.3.Product portfolio
8.5.4.Financial Performance
8.5.5.Recent strategic moves & developments

8.6.Raaka

8.6.1.Company overview
8.6.2.Operating business segments
8.6.3.Product portfolio
8.6.4.Financial Performance
8.6.5.Recent strategic moves & developments

8.7.Toms International

8.7.1.Company overview
8.7.2.Operating business segments
8.7.3.Product portfolio
8.7.4.Financial Performance
8.7.5.Recent strategic moves & developments

8.8.Ferrero S.p.a.

8.8.1.Company overview
8.8.2.Operating business segments
8.8.3.Product portfolio
8.8.4.Financial Performance
8.8.5.Recent strategic moves & developments

8.9.Yildiz Holdings

8.9.1.Company overview
8.9.2.Operating business segments
8.9.3.Product portfolio
8.9.4.Financial Performance
8.9.5.Recent strategic moves & developments

8.10.Amedei Tuscany

8.10.1.Company overview
8.10.2.Operating business segments
8.10.3.Product portfolio
8.10.4.Financial Performance
8.10.5.Recent strategic moves & developments

Wine chocolates are growing in demand among people of all age groups because of the health benefits they provide. Wine chocolates are prepared by adding an appropriate amount of wine, either red or white, during the manufacturing phase. Foods like these have a rich dosage of antioxidants that help in boosting immunity and offer benefits like lower blood pressure, lower cholesterol levels, improved blood circulation, and lower risks of stroke. In general, one glass serving of wine chocolate has an average of 15% alcohol strength with a calorie count of about 300-400 calories.

Forecast Analysis:

Increasing demands for flavored chocolates among customers is the main factor estimated to drive the growth of the global wine chocolate market by 2028. In addition, rising awareness about the health benefits of wine chocolates like improved heartbeat rate, weight loss, enhanced mental health, etc. are also expected to accelerate the demand for wine chocolates, thus boosting the market growth further during the analysis timeframe. Furthermore, improvements in the existing wine chocolates along with launches of new products by market players is projected to offer ample growth opportunities for the global wine chocolates market by 2028. However, their high cost is expected to impede the market growth during the forecast period.

Regionally, the wine chocolate market in the Europe region is estimated to have an exponential growth and garner a revenue of $431.7 million in the 2021-2028 timeframe due to the existence of prominent wine chocolate producing as well as consuming countries like France and Germany. In addition, people in this region are highly health conscious and therefore, are greatly inclined towards consuming healthy chocolates that are rich in nutrition.

According to the report published by Research Dive, the global wine chocolate market is estimated to register a revenue of $1,219.5 million, growing at a CAGR of 7.0% in the 2021–2028 timeframe. Some significant players of the wine chocolate market include Duc d’O, Halloren, Toms International, Alfred Ritter, Yildiz Holdings, Raaka, NEUHAUS, Amedei Tuscany, Ferrero S.p.a., Underberg AG, and many others.

Covid-19 Impact on the Market:

The onset of the deadly Covid-19 pandemic has hurled every business and industry, including the global wine chocolate market. The pandemic had a severe effect on people’s health and mental wellbeing and greatly declined the demand and production of wine chocolates. In addition, due to the fear of the coronavirus transmission along with their prevailing symptoms, several governmental bodies imposed mobility restrictions, travel bans, and strict lockdowns across the globe. This led to disruptions in the supply of raw materials like grapes, cocoa, and wine, thus hampering the wine chocolate market growth during the pandemic.

Key Market Developments:

The significant organizations operating in the industry are adopting numerous growth strategies & business tactics such as partnerships, collaborations, mergers & acquisitions, and launches to maintain a robust position in the overall wine chocolate market, which is subsequently helping the global market to flourish. For instance:

In October 2021, Willa’s Kitchen, a leading organic and non-dairy oat milk provider, announced its partnership with Raaka Chocolate, a renowned unroasted dark chocolate manufacturer, to introduce a new organic dark chocolate oat milk made with Peruvian cacao, which is both single-origin and produced sustainably. Raaka funded for the cacao powder while Willa utilized its unique milling approach to yield more nutrients, fiber, and protein oat milk.

In November 2021, Alfred Ritter, a well-known chocolate bar brand, launched its new “Vegan Pure Without Moo” chocolate bar in its vegan category for German consumers who are swiftly shifting towards plant-based diet. This product launch is aimed to boost the latest vegan trend that is extending to every category, including chocolate bars. The product contains sugar, cocoa mass, high-quality almond flour, and cocoa butter, along with other plant-based ingredients.

In August 2021, Cargill, a leading American global food organization, announced its decision to acquire Singapore-based chocolate manufacturer Aalst to expand its product portfolio in the Asia-Pacific region. This acquisition will boost Cargill’s cocoa products along with focusing on the consumer and retail business to get more customer insights, preferences, and ongoing trends.

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