The global compound chocolate market is set to witness growth at a CAGR of 6.7% over the forecast period (2022-2032) and top a valuation of US$ 50.5 Bn by 2032.
The growing trend of natural and organic food products in the food and beverage sector is likely to drive the compound chocolate market. Chocolate compound manufacturers in the market are actively introducing organic or natural chocolate flavoring compounds.
Additionally, demand for compound chocolate is on the rise owing to the presence of high polyphenol levels in cocoa or chocolate that are nutritionally beneficial. Furthermore, several epidemiological studies have observed that the intake of dark chocolate rich in polyphenols can prevent heart-related diseases.
This in turn is increasing importance of dark chocolate flavouring compounds. Alongside this, key participants are aiming to develop chocolate compounds that are not only low in sugar but are also lactose-free.
Another important strategy is the repositioning of the chocolate flavoring compounds by marketing it with clean label tagline. This will allow the consumers to indulge yet fulfill their health-related diet regime.
The chocolate flavoring compounds are also being marketed as premium products amid growing preference for premium products. On the back of these factors, the demand for compound chocolate is predicted to show an impressive rise in the near future.
Key Takeaways
- Europe is expected to dominate the global compound chocolate market, accounting for market share of about 28% by 2022, followed by North America
- France is expected to account for demand share of nearly 24% in Europe compound chocolate market
- By product type, milk chocolate is expected to account for the lion’s share of the global market by the end of 2022
- Online channel is expected to show an impressive growth as compared to all the other channels over the assessment period (2022-2032)
“Increased consumption of milk chocolate for various applications in chocolate-based confectionery items, shakes, cakes, croissants, and hot chocolate will surge the demand for compound chocolate over the upcoming decade.”, says a Future Market Insights analyst.
Competitive Landscape
Key market participants are following different marketing and promotional strategies such as new product launches, geographical expansion, merger and acquisitions, partnerships and collaboration to address the needs of the consumers and serve accordingly, thus, creating a larger customer base in the coming years.
Explore More Valuable Insights
Future Market Insights, in its new report, offers an impartial analysis of the global compound chocolate market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.
Global Compound Chocolate By Category
By Product Type:
- Dark Chocolate
- Milk Chocolate
- White Chocolate
By Form:
- Choco Chips
- Chocolate Coating
- Chocolate Slab
- Other Forms
By Application:
- Bakery and Confectionery
- Ice Cream and Frozen Desserts
- Chocolate Beverages
- Snacks
- Sauces and Spreads
- Other Applications
By Distribution Channel:
- Direct
- Indirect
- Hypermarkets/Supermarkets
- Convenience Stores
- Specialty Stores
- Independent Retailers
- Online Retailers
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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