The global compound chocolate market is projected to reach US$ 26.4 billion in 2022 and is expected to surpass US$ 50.5 billion by 2032, registering a CAGR of 6.7% from 2022 to 2032. Compound chocolate, which comprises ingredients like vegetable fats, sugars, and cocoa powder, is used to impart a chocolate flavor to various food products.
These chocolate flavoring compounds serve as the foundational ingredients for producing commercially consumed confectionery chocolates. The compound chocolate market is anticipated to grow, driven by modifications in traditional chocolate flavoring compounds, such as sugar reduction and protein fortification.
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Growing preference for chocolate flavor is one of the drivers propelling the growth of the chocolate flavouring compounds market. Besides this, consumers’ palate for chocolate flavours and the availability of a range of chocolate-flavored protein and nutritional supplements will boost the market.
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:
- Lucrative Investment Opportunities: The compound chocolate market presents lucrative investment opportunities, with significant growth potential driven by increasing consumer demand and expanding market reach.
- Market Diversification: Investing in product diversification and innovation can help companies differentiate themselves in the competitive market landscape and capture larger market shares.
- 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.
- 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.
- 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.
Purchase now and gain full access to the Compound Chocolate Industry report, featuring comprehensive Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives.
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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