Pune, India, September, 2018 /press release/- Market Research Future Published a Half-Cooked Research Report on Real and Compound Chocolate Market Research Report.
The real and compound chocolate market is presumed to expand at 2.81 % CAGR during the forecast period (2017-2023) owing to the growing consumption of fat-free food products, asserts Market Research Future (MRFR). Real chocolates comprise butter and cocoa liquor and are extracted from cacao and cocoa beans. Compound chocolates comprise cocoa butter replacer in higher percentage and other chocolate ingredients. Cocoa powder is utilized as a substitute for cocoa liquor in preparation for compound chocolates.
Drivers and Constraints Impacting the Market
Premium chocolate snacks are easily available at international supermarkets as well as convenience stores. Owing to such healthy trends and innovative chocolate products is likely to trigger the real chocolate market during the assessment period. With the inclusion of attractive materials and colors in packaging during festive seasons, the real chocolate market is expected to expand in the coming years. On the other hand, compound chocolates offer the flavor of cocoa at a reduced cost due to low cost of vegetable oil.
Moreover, tempering is not required for cocoa butter alternatives since it is easy to attain the glossy texture. Owing to such factors, the compound chocolate market is presumed to expand during the review period. Also, with the shift in preference for healthy and fat-free food products by the consumers, manufacturers include healthy ingredients in chocolates along with cocoa as the main ingredient. This is likely to trigger the market growth during the assessment period.
On the flip side, the growing obese population has been found to the major hindrance to the market growth. Owing to increasing health concerns associated with overconsumption of fat, calories, and sugar present in chocolate products, the global market for real and compound chocolate is likely to hamper in the coming years.
Global Real and Compound Chocolate Market: Segmental Analysis
The real and compound chocolate market has been segmented on the basis of application, type, and region.
By mode of type, the global market has been segmented into dark, milk, and white. Among these, the milk chocolate segment dominates the market due to its higher usage rate in the food and beverage product preparation and is presumed to expand at 2.61 % CAGR during the review period. Besides, the segment for dark chocolate is also experiencing a higher growth rate due to health benefits associated with the consumption of dark chocolates.
By mode of application, the global market has been segmented into bakery, seasoning, confectionery, syrups, spreads, desserts, and others. Among these, the seasoning segment dominates the global market owing to the growing demand for real and compound chocolates and is estimated to expand at 2.42 % CAGR over the assessment period. Due to the rising consumption of exotic food products, the market is expected to boost in the coming years.
Geographically, the real and compound chocolate market spans across regions namely, Europe, North America, Asia Pacific, and Rest-of-the-World.
Among all the regions, the European region is presumed to dominate the global market and is likely to maintain its dominance over the assessment period due to growing consumption of real and chocolate in several food products along with healthy economic growth in this region. The market is presumed to touch USD 58,809.00 million by 2023.
The Asia Pacific region has been considered to be a hub for compound chocolate production due to its affordable cost. Crisis for chocolate along with advancement in technology has provided a great opportunity for the market in this region. Moreover, regions like Japan, China, Australia, India, New Zealand, and rest of APAC has been considered to be the fastest growing countries in the consumption of real and compound chocolates in this region which is driving the market over the review period.
Researchers from Exeter and Brighton universities have made a breakthrough on aging and discovered that a compound present in dark chocolate could rejuvenate inactive senescent cells. The consumption of dark chocolate can make the cells look and behave like younger cells.
The major players operating the global real and compound chocolate market are Ferrero SPA (Italy), Barry Callebaut AG (Switzerland), Republica del cacao (South America), The Hershey Co. (U.S.), Meiji Co. Ltd. (Japan), Barry Callebaut AG (Switzerland), Puratos Group NV (Belgium), TCHO (U.S.), Guittard Chocolate Company, Ghirardelli Chocolate Company (U.S.), Lindt & Sprüngli SpA (Italy), Aalst Chocolate Pte. Ltd. (Singapore), Mars Inc. (U.S.), Valrhona Inc. (France), Foley’s Candies Ltd. (Canada), Beryl's Chocolate & Confectionery Sdn. Bhd. (Malaysia), Mondelez International Inc. (U.S.), Alpezzi Chocolate (Mexico), Blommer Chocolate Company (U.S.), Nestle S.A. (Switzerland), PURATOS Group NV (Belgium), and Fujian Yake Food Co. Ltd. (China).