The global compound chocolate market is poised for remarkable growth, with estimates projecting a surge from US$ 26.4 billion in 2022 to over USD 50.5 billion by 2032, registering a robust CAGR of 6.7%. Compound chocolate, a blend of various ingredients including vegetable fats, sugars, and cocoa powder, is witnessing increased demand globally due to its versatility and widespread application in confectionery and bakery products.
The market for compound chocolate is expected to grow due to rising demand in the food and beverage industries for natural and organic products. Organic or natural chocolate component manufacturers are rapidly entering the market.
The market is expanding due to consumer preferences for chocolate-flavored flavouring compounds as well as the availability of a wide variety of products with chocolate flavours. Demand is also being supported by consumers’ preference for chocolate-flavored protein supplements and nutritional goods. Furthermore, changes made to conventional chocolate flavouring ingredients to lower sugar content and strengthen proteins are favourably impacting market dynamics.
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Several factors contribute to the growth of the compound chocolate market:
1. Increased Consumer Palate: Growing consumer demand for chocolate-flavored products, coupled with innovations in flavor profiles and textures, is driving market expansion.
2. Health and Wellness Trends: Rising awareness of healthier lifestyle choices is fueling demand for dark, sugar-free, and organic chocolate variants, stimulating market growth.
3. E-commerce Penetration: The proliferation of online platforms as shopping mediums is providing new distribution channels for compound chocolate suppliers, driving market accessibility and growth.
4. Product Innovation: Key market players are focusing on introducing a wide variety of flavors and products to attract customers and enhance brand loyalty, fostering market competitiveness and expansion.
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.
Key Companies Profiled
- Clover Hill Food Ingredients Ltd.
- Cargill Incorporated
- ADM WILD Europe GmbH & Co.KG
- Nestle S.A.
- Wilmar International Limited
- PURATOS
- Shellz Overseas Pvt. Ltd.
- INFORUM Group
- Buhler AG
- Barry Callebaut
- Unigrà S.r.l.
- Blommer Chocolate Company
- CEMOI
- HERZA Schokolade GmbH & Co. KG.
- Clasen Quality Coatings, Inc.
- Puratos Group
- Mondelez International
- Others
Key Takeaways for Investors:
1. Lucrative Investment Opportunities: The compound chocolate market presents lucrative investment opportunities, with significant growth potential driven by increasing consumer demand and expanding market reach.
2. Market Diversification: Investing in product diversification and innovation can help companies differentiate themselves in the competitive market landscape and capture larger market shares.
3. Global Market Expansion: Exploring opportunities in emerging markets such as France, Germany, and the USA, where compound chocolate consumption is on the rise, can provide substantial growth avenues for investors seeking to expand their global presence.
4. Adaptation to Health Trends: Aligning investments with health and wellness trends by offering organic, sugar-free, and dark chocolate variants can resonate with shifting consumer preferences and drive market growth.
5. E-commerce Strategies: Leveraging e-commerce platforms for product distribution and sales can enhance market accessibility and reach, enabling companies to tap into new consumer segments and drive revenue growth.
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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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