Global Compound Chocolate Market - By Product Type, Application and Geography-Market Shares, Forecasts And Trends (2017 - 2022)

Published - Jan 2017 | Category - Food & Beverages | No. of Pages - 157 | Published By - Mordor Intelligence

Report Highlights

The global Compound chocolate market was XX billion US$ in 2014 and expected to reach XX billion US$ by 2020, growing at a CAGR of 4% during the forecasted period (2017 - 2022). Compound chocolates are the chocolate substitutes that are made of cocoa or carob with vegetable fat and sweeteners.

The global compound chocolate market is moving at a faster rate. The demand for chocolates is continuously increasing in the developing countries due to emerging economy and the limited supply of cocoa ingredients. Scarcity and high cost of cocoa butter has given chocolate industries a new moving trend of compound chocolate. Increased demand for the industrial application has boosted the market growth. Generally the chocolates are produced in the form of large slabs, chips and coverings.

Increasing demand of low priced cocoa based products has increased the demand of compound chocolates globally. The major market drivers includes increased price of cocoa butter, limited supply of cocoa products in the market, cheaper price of compound chocolates  and increasing demand in industrial and bakery applications. The technical advantage of non-requirement of tempering and easy manufacturing process has increased the industrial demand of compound chocolates. However, the regulation on addition of vegetable fats in chocolate by various regulatory authorities has restrained the growth of the market. Other than the regulation on vegetable fats, major factors restraining the market growth includes unhealthy nature of cheap vegetable fats along with consumer preferences for the pure chocolates among others.

The compound chocolate market segmentation is done on the basis of applications, type of products, and by the geography. By application the compound chocolates are used in industrial applications of bakery and confectionery products, as a direct chocolate end consumers, and in ice creams. The increased demand of coatings and coverings for the bakery products has raised its popularity among bakery applications. The market is sub segmented on the product type as compound chocolate chips, coverings, slabs and chocolate bars. The chocolate chips are used in ice cream, biscuits and cookies products. Chocolate slabs are commercially manufactures for industrial applications where it is melted and further processed into final product.

The market is further segmented on the region basis into North America, Europe, Asia Pacific, Africa and South America. Asia Pacific, Europe and South America are the main markets of compound chocolates. The market is dominated by the small scale domestic manufacturers and few major companies. Europe is the largest compound chocolate market with XX% of the market share. Growth of the market has been retrained in the North American region due to the regulations posed by USFDA on addition of vegetables fats in the chocolates.

Increased advancement in technology and the chocolate crisis in the market has provided a great opportunity to the compound chocolate market. Due to its affordable cost it has majorly covered the Asia Pacific region market. Whereas the stringent regulatory barrier is being a big challenge for the market. The key players in the market are Cargill Incorporated (U.S), Puratos (Belgium), Barry Callebaut (Switzerland), Nestle (Australlia), Meji Co., (Japan), and Ferrero Rocher among others. The major competitors prefers investment in new product development with more functional properties and marketing strategy for maintaining their market position.

Key Deliverables

Market analysis for the Global Compound Chocolate Market, with region specific assessments and competition analysis on global and regional scales

Market definition along with the identification of key drivers and restraints

Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale

Extensively researched competitive landscape section with profiles of major companies along with their market shares

Identification and analysis of the macro and micro factors that affect the global compound chocolate market on both global and regional scales

A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information

A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market

Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped

 

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