North-American Industrial Chocolate Market to Display Growth of CAGR 5.34% from 2017 to 2022

North-American Industrial Chocolate Market –Overview
Chocolate has been in consumption since a very long amount of time, at least since 1900 BCE, where it was part of rituals and customs particularly those of the Mayan civilization. Since then chocolate has become extremely popular and is found in a variety of food items from desserts such as cakes, pudding or to be eaten simply as chocolate. Interestingly, Chocolate as it is consumed these days is a relatively new invention.

According to a Market Research Future report on North-American Industrial Chocolate Market states that the sector is expected to reach USD 25,321 Million at the end of the forecasted period and will grow at CAGR of 5.45% from 2017 to 2022. The industrial chocolate sector in North America is on the rise due the incorporation of chocolate in many products that are both edible and inedible such as in clothes and show pieces. The increased usage for chocolate has been driven by the increase in the number of manufacturers whose products include chocolate in it, in such situations, the chocolate has to be produced on an industrial level to meet the demand. In such a scenario, it is also feasible for big companies who already source raw materials for chocolate i.e. cocoa beans acquire them on a large amount to source them to the smaller scale manufacturers in the form of industrial chocolate that they make.

The current market for industrial chocolate is large as the average American is consuming substantial portions of chocolate annually, which is one of the key drivers of demand for this sector. Increasing level of disposable income, demand for varieties are some of the factors that have contributed to the inelastic demand curve for industrial chocolate. However some factors that may cause hurdles in the road to development of this sector are fluctuations in prices of cocoa beans, competition in the market and the fact that chocolate is not considered as a healthy food item.

Access Report Details @ https://www.marketresearchfuture.com/reports/north-american-industrial-chocolate-market-1672

Latest Industry News:
September 2017 The Barry Callebaut Group announced completion of it’s two expansion projects in the US. Factories located in American Canyon, California and Chicago, Illinois recently received significant investment totaling nearly $25 million.

November 2017 Barry Callebaut announced that it delivered strong annual results following the acquisition of  Mondelēz’s chocolate production facility in Halle, Belgium, in December last year.

North-American Industrial Chocolate Market - Competitive Analysis
With the entry of industry players in the North-American Industrial Chocolate segment, a trend of solid, volume-driven growth has been observed in the market with the introduction of various varieties of chocolate. With companies aiming to capture a considerable share of the market segment as early as possible, they are competing and experimenting with various advantage points. The best long-term growth opportunities for this sector can be captured by ensuring ongoing process improvements and financial flexibility to invest in the optimal strategies. With a positive trend observed due to use of modern technology, the supply can be considerably increased which allows exploration of newer markets and applications.

The key players profiled in North American industrial chocolate market report include- Mondelez, Mars, Blommer, Puratos, Foley’s Candies LP, Cargill, Nestle SA and Hershey. Some of the other prominent market players are Barry Callebaut, Guittard Chocolate Company, Valrhona, Alpezzi Chocolate, Ghirardelli, Ferrero, Republica del Cacao, and Scharffen Berger.

North-American Industrial Chocolate Market – Segments
The Market For Industrial Chocolate Is Segmented On The Basis Of By Types And Application.

By Types: Dark, Milk and White.

By Application: Chocolate Bars and Flavoring Ingredients. 

North-American Industrial Chocolate Market -

Regional Analysis

U.S dominates accounts for highest share in the North American industrial chocolate followed by Canada and Mexico, accounting for USD 14,756 million and is expected to grow over USD 20,200 million by 2022, and is expected to grow at CAGR of 5.34 % respectively from 2016 to 2022.