January 2022/MRFR Press Release/- Market Research Future has published a report on the Global Real and Compound Chocolate Market.
The global real and compound chocolate market is expected to grow at a healthy 3.21% CAGR over the forecast period (2022-2030) due to the rise in consumption of products that are fat-free. Real chocolate contains cocoa liquor (extracted from cocoa beans and cacao) and butter. It is the top flavoring choice in sweet bakery goods and patisserie. Real chocolate is simple to temper thereby making it simpler to use for coating and pouring chocolate molds. It is highly flexible and popular for its smooth texture and sophisticated and rich taste. On the other hand, compound chocolates contain higher percentage of cocoa butter replacer along with other chocolate ingredients. Here cocoa powder is used as an alternative to cocoa liquor. Compound chocolate is basically an imitation chocolate which looks and tastes as chocolate. It is widely used for bake-stable applications, flavoring, decorating, panning, dipping and molding. Besides it is also used in candies and biscuits as a center-filling, as chips in biscuits and also in ice-cream coatings.
There are multiple factors that has retained the growth and demand for real and compound chocolate market. Some of the market trends and factors in this market as per an analysis conducted by Market Research Future (MRFR) include rising number of product offerings along with flavor innovations, its easy availability both in offline and online stores, the paradigm shift towards healthy eating habits, lower price of compound chocolates, growing demand for fat-free food, innovative, creative and colorful packaging and special festive additions. On the other hand, rising health concerns related to overconsumption of sugar, calories and fat in chocolates is predicted to hamper the growth of the real and compound chocolate market in the near future.
In MFRF’s report, the global real and compound chocolate market is segmented on the basis of type and application.
Based on type, it is segmented firstly, into real chocolate that is further segmented into white, dark and milk chocolate and secondly, into compound chocolate that is further segmented into dark, white, milk and others. Of these, the milk chocolates dominate the market due to its higher utilization in preparing beverage and food products. Dark chocolates are seeing a favorable growth due to the long list of health benefits related with its consumption.
Based on application, the global real and compound chocolate market is segmented into spreads, seasoning, syrups, desserts, confectionary and bakery. Of these, seasonings have a higher market share owing to the rising consumption of exotic food products.
Based on region, the global real and compound chocolate market covers growth opportunities and latest trends across Europe, North America, Asia Pacific and Rest of the World. Of these, Europe is anticipated to grasp the utmost market share owing to the increasing consumption of chocolates along with the region’s healthy economic growth. The real and compound chocolate market in this region is expected to see USD 58,809.00 million during the forecast period. Asia Pacific is considered the hub for the production of compound chocolate owing to its reasonable cost. Technological advancement coupled with crisis for chocolate has opened doors for the market in the region. Regions such as New Zealand, India, Australia, China, Japan and the rest of Asia Pacific are considered to be the fastest growing in the real and compound chocolate consumption which is likely to propel the growth of the real and compound chocolate market during the forecast period.
The real and compound chocolate market is dominated by few major companies and small-scale domestic manufacturers. The key competitors prefer in making investments in development of new products with higher marketing strategy and functional properties to maintain their position in the market.
Leading players profiled in the real and compound chocolate market include Beryl’s Chocolate & Confectionery Sdn Bhd (Malaysia), Aalst Chocolate Pte. Ltd (Singapore), Fujian Yake Food Co., Ltd (China), Lindt & Sprungli SpA (Italy), Meiji Co., Ltd (Japan), Barry Callebaut AG (Switzerland), Puratos Group NV (Belgium), TCHO (US), Republica del cacao (South America), Valrhona Inc. (France), Ghirardelli Chocolate Company (US), Alpezzi Chocolate (Mexico), Ferrero SPA (Italy), PURATOS Group NV (Belgium), Guittard Chocolate Company, Foley’s Candies Ltd (Canada), Bloomer Chocolate Company (US), Nestle S.A. (Switzerland), Barry Callebaut AG (Switzerland), The Hershey Co. (US), Mondelez International, Inc (US) and Mars Inc. (US).
Hot Chocolate Festival is stepping into its 9th year and is all set in once again filling the mugs in Vancouver in January-February 2019. This month-long event will offer original cocoa specials and concoctions to please and satiate people’s sweet tooth. The ingredients used here will include everything right from cookie crumbs, ice cream, torched marshmallow, exotic whipped creams, Belgian chocolate, dark chocolate to white chocolate.
October 2018- Cambridge based company, Lycotec Ltd has come up with a chocolate for blood cholesterol reduction and weight management. This patented technology is called “L-tug” which will cut down the negative health effects associated to chocolate especially the milk form. The smart innovation will act as a game-changer in the chocolate industry.