The global compound chocolate market is set to witness growth at a CAGR of 6.7% over the forecast period (2022 to 2032) and top a valuation of US$ 50.5 Bn by 2032.
The market for compound chocolate is anticipated to be fueled by the rising popularity of natural and organic foods in the food and beverage sectors. Producers of chocolate ingredients are aggressively introducing organic or natural chocolate flavouring ingredients to the market.
The high polyphenol levels in cocoa or chocolate, which provide nutritional benefits, are another factor driving rising demand for compound chocolate. Additionally, a number of epidemiological studies have found that eating dark chocolate with a high polyphenol content can help reduce heart-related illnesses.
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This in turn is increasing importance of dark chocolate flavouring compounds. Alongside this, key participants are aiming to develop chocolate compounds which are not only low in sugar but are also lactose-free.
Another important strategy is the repositioning of the chocolate flavouring compounds by marketing it with clean label tagline. This will allow the consumers to indulge yet fulfil their health related diet regime.
The chocolate flavouring 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.
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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
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Frequently Asked Questions
- At what value is the market of compound chocolate expected to reach?
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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