Bharat Book Bureau Provides the Trending Market Research Report on Global Real and Compound Chocolate Market Opportunity Analysis And Industry Forecast 2023 under Food & Beverages category. The report provides information on industry overview, market size, latest developments, industry trends, Key players, Global presence, and their future prospects.
Real Chocolate contains cocoa butter and cocoa liquor extracted from cocoa or cacao beans. Cocoa butter is an expensive ingredient, so it requires an additional procedure known as ‘tempering,’ to prevent blooming or discoloration of chocolate. On the other hand, compound chocolate contains cocoa butter replacer in higher percentage along with other chocolate ingredients. In the preparation of compound chocolates, the cocoa powder is used as a substitute for cocoa liquor. Cocoa butter replacers (fat) are manufactured from vegetable oils, as vegetable oils are already processed fat molecules which are uniform in nature and hence does not require tempering.
Globally, real chocolate is processed and packaged primarily for direct consumers and artisans. Whereas compound chocolate is mainly processed and packaged for industrial use, bakeries, confectioneries, and others. Strategic new product developments followed by creative packaging are driving the growth of real chocolates globally. Moreover, there have been improvements in technology starting from the harvesting of cocoa/cacao bean to chocolate bar processing which is adding fuel to the growth of the market. Additionally, high focus on marketing the products by key players has a great opportunity for the real and compound chocolate market in the future.
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For compound chocolate, it is growing rapidly owing to the lower cost alternative. Ingredients such as coconut oil, palm oil, soybean oil, rapeseed oil, and cottonseed oil are regarded less expensive compared to cocoa butter. Moreover, substances such as vegetable oil are commonly used in place of cocoa butter for compound chocolate production. As a result, a lot of time and cost is saved by chocolate manufacturers in processing compound chocolates which is one of the factors driving the growth of the market. Additionally, Omega-3 fatty acids enriched chocolate spreads using soybean and coconut oils, have shown a potential for the growth of compound chocolates as the consumers tend to eat healthy food.
Regional Analysis
The global real and compound chocolate market is segmented into North America, Europe, Asia Pacific, Latin America, and the rest of the world. The European region is anticipated to account for the maximum market share in the global real chocolate market throughout the forecast period of 2017–2023. The segment is projected to reach to 2,173.4 kilo tons by the end of 2023. Moreover, the Asia Pacific region is likely to witness a high growth rate of 3.49% in the real and compound chocolate market during the forecast period.
Segments
On the basis of type, it is segmented into real chocolate; further sub-segmented into dark, milk, white, compound chocolate; further sub-segmented into dark, milk, white, and others. Based on application, it is segmented into bakery, confectionery, desserts, syrups, seasoning, spreads, and others.
Key Players
The leading market players in the global real and compound chocolate market primarily are Mars Inc. (U.S.), Mondelez International, Inc. (U.S.), The Hershey Co. (U.S.), Barry Callebaut AG (Switzerland), Nestle S.A. (Switzerland), Blommer Chocolate Company (U.S.), Foley’s Candies Ltd. (Canada), Guittard Chocolate Company, PURATOS Group NV (Belgium), Ferrero SPA (Italy), Alpezzi Chocolate (Mexico), Ghirardelli Chocolate Company (U.S.), Valrhona Inc. (France), Republica del cacao (South America), TCHO (U.S.), Puratos Group NV (Belgium), Barry Callebaut AG (Switzerland), Meiji Co., Ltd. (Japan), Lindt & Sprüngli SpA (Italy), Fujian Yake Food Co., Ltd. (China), Aalst Chocolate Pte. Ltd. (Singapore), and Beryl’s Chocolate & Confectionery Sdn. Bhd.(Malaysia).
Target Audience
– Food and beverages manufacturers
– Chocolate manufacturers
– Raw material suppliers
– End-users (food & beverages industry)
– Retailers and wholesalers
– E-commerce companies
– Traders, importers, and exporters
Key Findings
– The global real and compound chocolate market is projected to reach USD 136.99 billion by 2023 at a growth rate of 2.11% and 2.81%, respectively
– The application of real and compound chocolate in seasonings is witnessed to be the fastest growing segment over the forecast period.
Regional and Country Analysis of the Real & Compound Chocolate Market, Development & Demand Forecast to 2023
As per the MRFR analysis, the global real and compound chocolate market is poised to reach 5,022.8 kilo tons and 4,017-kilotons, respectively, by 2023.
Country-Level Analysis
North America
– U.S.
– Canada
– Mexico
Europe
– Germany
– U.K.
– France
– Italy
– Rest of Europe
Asia Pacific
– China
– India
– Japan
– Australia & New Zealand
– Rest of Asia Pacific
Rest of the World
– Middle East
– Latin America
– Africa
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