The global compound chocolate market is set to witness growth at a CAGR of 6.7% over the forecast period (2022-2032) and top a valuation of US$ 50.5 Bn by 2032.
Growing trend of natural and organic food products in the food and beverage sector is likely to drive the compound chocolate market. Chocolate compound manufacturers in the market are actively introducing organic or natural chocolate flavouring compounds.
Additionally, demand for compound chocolate is on the rise owing to the presence of high polyphenol levels in the cocoa or chocolate that are nutritionally beneficial. Furthermore, several epidemiological studies have observed that intake of dark chocolate rich in polyphenol can prevent heart-related diseases.
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.
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
Frequently Asked Questions
- At what value is the market of compound chocolate expected to reach?
- How much is the global compound chocolate market expected to grow?
- What strategies are adopted by the market players in the compound chocolate market?
- What percent of share does the top 10 companies in the compound chocolate hold?
- Which are the major countries driving demand for compound chocolate?
Information Source: https://www.futuremarketinsights.com/reports/compound-chocolate-market
