Cocoa Fillings Market Research Report - Forecast to 2027

Cocoa Fillings Market Information by Ingredients (Cocoa Beans, Unsweetened Cocoa Powder, Cocoa Butter, Cocoa Paste, Cocoa Liquid others), Application (Bakery & Confectionery, Dairy Products, Beverages, Personal Care, Pharmaceuticals and others), Distribution Channel (Store Based and Non-Store Based) and Region (North America, Europe, Asia Pacific and Rest of the World) - Forecast to 2027

ID: MRFR/F-B & N/2217-CR | June 2017 | Region: Global | 134 Pages         

Cocoa Fillings Market

Cocoa Fillings Market is expected to grow at a 4.70% CAGR and reach USD 523 million by 2030.

Segmentation

By Ingredients Cocoa Beans Unsweetened Cocoa Powder Cocoa Butter Cocoa Paste Cocoa Liquid
By Application Bakery & Confectionery Dairy Products Beverages Personal Care Pharmaceuticals
By Distribution Channel Store Based Non-Store Based
By Region North America Europe Asia Pacific Rest of the World

Key Players

  • Nestle S.A. (Switzerland)
  • Alpezzi Chocolate (Mexico)
  • Barry Callebaut (Switzerland)
  • PURATOS (Belgium)
  • Cargill Incorporated (U.S.)

Drivers

  • Innovations In Flavours And Forms
  • Low Price Of Raw Material/Key Ingredients
  • Increasing Demand For Convenience Food
Speak to Analyst Request a Free Sample

Cocoa Fillings Market Overview:


The cocoa fillings market is currently growing at a CAGR of 4.70%. This growth rate is expected to continue until 2023. It could continue unimpeded until 2027. Chocolate and cocoa fillings are used as the main ingredient in baked sweet goods like cookies, pies, pastries, cakes, donuts, etc. 


The intention behind using these fillings is to enhance the sweet flavor and rich taste of these baked sweets. The fillings also enhance the natural texture of these goods and give their texture a new depth. Chocolate and cocoa fillings also add a new flavor profile to various baked goods. Essentially, they give baked goods the thickness, texture, flavor, and taste that people know and love.


COVID-19 Analysis


COVID-19 appeared on the cocoa fillings market stage in March 2020. This virus was not a problem for most people who caught it. However, it could be dangerous and put a small minority of people who caught it in the hospital. It ended up killing less than 1% of people who got it. Added to this fact was that many people experienced strokes, shortness of breath, loss of smell and taste, and became diabetic long after they recovered from the coronavirus. What perplexed authorities the most is that many people contracted COVID-19 after having recovered from it a few months earlier—the reason being that the COVID-19 antibodies only remained active for a few months.


This had a disastrous residual effect on other industries because they found that the prices of their raw goods suddenly increased dramatically. This greatly increased their production costs. They were forced to pass these costs onto the end consumer in the form of higher retail prices. This resulted in a decrease in overall sales as many consumers found that they could no longer afford these more expensive cocoa and chocolate fillings. Some companies in the global cocoa fillings market were forced out of business.  


Market Dynamics:


Drivers


It’s innovation in the global cocoa fillings market that’s been the main driver of growth. Thanks to new technologies, it’s now possible to use new methods of processing chocolate and cocoa fillings so that they have different textures, viscosities, and tastes/flavors that the end customer (people who shop in grocery stores and bakeries) crave and will pay a premium for.


One innovation in terms of chocolate and cocoa fillings is blended fillings. Indeed, this is a good example of cocoa and chocolate fillings taking a ‘walk on the wild side!’ 


Opportunities


New technologies and innovative (new) production processes can control the extent to which cocoa and chocolate fillings are processed and produced. It’s now possible for these manufacturers to experiment with the texture and sponginess (viscosity) of these fillings. They are finding that customers are willing to pay more for goods that have the new generation of cocoa and chocolate fillings incorporated into them.


For example, cocoa and chocolate fillings manufacturers are now able to incorporate novel flavors and ingredients into chocolate fillings. These include sea salt, caramel, crunchy nut clusters, different flavored and textured sprinkles, etc. They can also augment the natural sweetness and richness of cocoa and chocolate by adding extra sweeteners (including refined and natural sugars.) The result is cocoa and chocolate fillings that have enhanced sweetness and a richer texture and flavor. 


Restraints


Cocoa and chocolate fillings market manufacturers may lack sufficient capital to invest heavily in research and development. This is especially true with smaller-sized manufacturing plants. They are not as able to capitalize on the bonanza that innovation has created in terms of enhanced cocoa and chocolate fillings. They often see their overall sales fall dramatically as a result. COVID-19 has only accelerated this effect.


Challenges


The main challenge that companies in the global cocoa fillings market face are continuing to find the funds needed to constantly invest in research and development. They must also readily find the resources to engage in market research and compose many buyer personas. The market research will indicate to them the preferences, changes, and trends in terms of customer preferences in terms of baked sweets. The buyer personas will help them understand how to continually innovate their products to ensure that the end customer is always satisfied.


Cumulative Growth Analysis


The CAGR for the global cocoa fillings market is 4.70%. This is expected to continue until 2023. It could even continue until as late as 2027.


Technology Analysis


One company that has jumped on the innovation bandwagon through heavy investments in research and development is Nestle S.A. This Swiss company is finding that its sales are skyrocketing. This is especially true with regards to chocolate and cocoa fillings. 


In particular, nestle has made its main focus on delivering quality nutrition to its end consumers without sacrificing taste and flavor. After all, its senior management and leadership realized that it couldn’t continue to sell goods if customers didn’t think that they were tasty and/or savory. After all, no one will pay any money to buy food that has bitter condiments baked into it.


They are experimenting more with different plants to understand which raw materials and compounds will deliver better nutrition without sacrificing taste and flavor. In fact, the entire company is placing more of an emphasis on incorporating plant-based ingredients into its cocoa and chocolate fillings (and other products) as much as possible.


Segment Overview:


By Ingredients


The global cocoa fillings market can be categorized into the following ingredients. These are cocoa beans, unsweetened cocoa powder, cocoa butter, cocoa paste, cocoa liquid, and other cocoa by-products. 


Cocoa beans are processed the most often. Their by-products include cocoa butter, cocoa liquid, and cocoa paste. These by-products are mixed with various sugars and sweeteners. These are incorporated the most often into sweet baked goods and other sweets.


By Application


The bakery and confectionary industry dominate in terms of application. While cocoa and chocolate fillings sometimes make their way into candy bars and various dairy products (like slush, sorbets, and ice creams), their primary usage is in sweet baked goods.


The bakery and confectionary industry are expected to constitute 31.21% of the total market share in the global cocoa fillings market. Since this was a 2017 number, the market share is likely to be much higher by now.


By Distribution


The global cocoa fillings market can be categorized into the following two distribution channels: by retail store and by other outlets.


By Region


The cocoa fillings market is separated into the following regions: the North American region, the European Union, the Asia-Pacific region, and the rest of the world. Of all the world regions, the Asia-Pacific region is expected to register the highest regional CAGR. The statistics and numbers bear this out. In 2017 the Asia-Pacific region accounted for 20% of the entire global cocoa fillings market. Analysts estimate that the CAGR for this region will be 4.99% until at least 2023. However, cocoa fillings market given the rapidly growing economies of India and China, the CAGR could continue at this modest growth rate for much longer than this.


Regional Analysis


The Asia-Pacific region is witnessing the highest regional CAGR out of all regions in the global cocoa fillings market. The main reason why is because the middle classes are exploding in this region. This is especially true of India and China. What further fuels the growth rate is that these middle classes have purchasing power and discretionary incomes that are increasing rapidly. This is all due to breakneck economic growth in these two economic powerhouses.


The middle classes in the Asia-Pacific region are increasingly becoming Westernized. They crave name-brand Western consumables. This spans the range from expensive jewelry to gourmet foods. In fact, these people are willing to pay a premium for Western confectionaries and baked sweets. Oftentimes, they’ll favor Entemann’s and Little Debbies cakes over their traditional baked sweets. 


The North American region may have the highest cocoa fillings market share. This is because the middle classes are more numerous and richer in America and Canada than they are in the Asia-Pacific region. Also, many of the primary cocoa fillings manufacturers are either headquartered in these two nations or have a strong presence there. The same applies to the nations in the European Union.


Competitive Landscape


COVID-19 notwithstanding, the global cocoa fillings market remains very competitive. The main reason for cut-throat competition and a ‘dog-eat-dog’ environment is due to the fact that there are very few barriers to entry, which few barriers to entry that do exist are easily overcome by the larger manufacturers who have larger budgets to spend on marketing and research and development!


Companies are finding that they can survive only by investing heavily in research and development. This allows them to find new technologies and to use innovation to experiment with different types of chocolate and cocoa fillings. They are also turning to mergers and acquisitions, and partnerships. The objective is to consolidate their positions in existing markets and enter new markets easily.


Nestle S.A. continues to be a leader in the global cocoa fillings market largely because it continues to invest in research and development. This allows it to experiment and find innovative new applications for cocoa and chocolate fillings.


List of Companies



  • Nestle S.A. (Switzerland), 

  • Alpezzi Chocolate (Mexico), 

  • Barry Callebaut (Switzerland), 

  • PURATOS (Belgium), 

  • Cargill Incorporated (U.S.)


Recent developments



  • Nestle will protect and restore Southeast Asian rainforests

  • Nestle introduces nondairy Milo in Asia

  • Nestle gives monetary support for the COVID-19 vaccine

  • Nestle invests in terms of research and development for plant-based foods in the Asian markets

  • Nestle comes with coffee screens and filters that offer protection from COVID-19 


Report Overview


The global cocoa fillings market is growing by more than 4% a year. This is expected to continue until 2023. The middle classes around the world want to have an enhanced taste experience when they consume baked sweets. This is what is largely fueling growth in this market.



Speak to Analyst Ask for Customization

Frequently Asked Questions (FAQ) :

The CAGR of cocoa fillings market is expected to grow at 4.70%.

523.45 MN USD is the expected target to be achieved by this market.