Real and Compound Chocolate Market Global Research Report by Type (Real- Dark, Milk, White; Compound - Dark, Milk, White and others), Application
— Real and Compound Chocolate Market Research Report includes various topics like total Market Size, Key Market Drivers, Challenges, Growth Opportunities, Industry Share, Growth, Demand, Outlook etc. Furthermore, it covers key market updates, the impact of regulations and technological updates in. The report addresses the need to stay updated in this competitive market conditions and this provides and comprehensive data for making strategies and decision to stimulate the market growth and profitability
The latest studies conducted by Market Research Future (MRFR) propose that the real and compound chocolate market is slated to touch the valuation of USD 136.99 billion by 2023. The studies also indicate that the real and compound chocolate market will be growing at a rate of 2.11% and 2.81% respectively.
Market Drivers and Key Barriers
Cocoa butter replacers are derived from vegetable oils which are themselves processed fat molecules. These processed fat molecules are uniform in nature and therefore, do not require any tempering. At a global level, real chocolate is generally processed and then packaged mainly for direct artisans and consumers. On the other hand, compound chocolates are primarily processed and then packaged for industrial use, confectioneries, bakeries, among others. On that note, new product developments coupled with creative packaging is resulting in the lavish growth of the real and compound chocolate market.
Furthermore, with the drastic improvement in technology, including the processing of chocolate bars and harvesting of cocoa beans, the global market is expected to have a highly gainful run in the coming years. In addition, the growing emphasis on the marketing of products by noteworthy vendors is proving to be instrumental in the growth of the real and compound chocolate market.
The sale of compound chocolate is rising at a rapid pace on account of its lower cost. Ingredients like palm oil, coconut oil, rapeseed oil, cottonseed oil, and soybean oil are considered more pocket-friendly than cocoa butter. Also, substances, including vegetable oil, are replacing cocoa butter to produce compound chocolate. As a consequence, large amount of time, as well as cost, is saved by the manufacturers while processing the compound chocolates; another factor benefiting the market.
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The leading players in the Global Real and Compound Chocolate Market include
• Beryl's Chocolate & Confectionery Sdn. Bhd. (Malaysia),
• Ferrero SPA (Italy), Puratos Group NV (Belgium),
• Republica del cacao (South America),
• Barry Callebaut AG (Switzerland),
• Mars Inc. (U.S.),
• Aalst Chocolate Pte. Ltd. (Singapore),
• Nestle S.A. (Switzerland),
• Lindt & Sprüngli SpA (Italy),
• Foley’s Candies Ltd. (Canada),
• PURATOS Group NV (Belgium),
• Blommer Chocolate Company (U.S.),
• Alpezzi Chocolate (Mexico),
• Valrhona Inc. (France),
• TCHO (U.S.),
• Fujian Yake Food Co., Ltd. (China),
• The Hershey Co. (U.S.),
• Guittard Chocolate Company,
• Meiji Co., Ltd. (Japan),
• Mondelez International, Inc. (U.S.),
• Ghirardelli Chocolate Company (U.S.),
• Barry Callebaut AG (Switzerland)
May 2019 Barry Callebaut has made its ruby chocolate available to the confectioners based in the United States (U.S.) and Canada, following an assessment of the growing demand for chocolate. Ruby chocolate is made of special cacao beans that grow in Ecuador, the Ivory Coast and Brazil.
The report states that the global real and compound chocolate market has been segmented based on type and application.
The market, depending on the type, can be categorized into real chocolate and compound chocolate. Real chocolate is further segmented into white, dark and milk chocolate, whereas compound chocolate is sub-segmented into dark, white, milk and others. Among these, the milk chocolates currently rule the global market based on its increasing use for the preparation of beverages and food products. Furthermore, dark chocolates are noting tremendous growth as well, owing to a wide host of health benefits associated with its consumption.
Application-based segments in the global real and compound chocolate market include spreads, seasoning, syrups, desserts, confectionary and bakery. Here, seasonings control the bigger market share with the growing consumption of exotic food products across the globe.
The key regions where the global Real and Compound Chocolate Market is expanding include Europe, North America, Asia Pacific, along with the Rest of the World (RoW).
Europe has acquired the most substantial share of the global market, with increasing consumption of chocolates and the strong economic growth being the main factors backing the said growth. Value-wise, Europe’s dominance in the global real & compound chocolate market has been established with its control of the considerable share of 42.02%. The regional market in the future is poised to reach USD 58,809.00 million at a growth rate of 2.83%. The report further adds that Germany will be experiencing a robust growth of 2.61% for compound chocolates between 2017 and 2023.
Asia Pacific is predicted to be the fastest-expanding market globally, with the growth rate of 2.53% and 3.49% for real and compound chocolates respectively. The region regarded as the hub for compound chocolate production based on its reasonable cost. The regional market profits from continuous technological advancement paired with the growing demand for chocolate. Countries including India, New Zealand, Australia, Japan and China are believed to be at the forefront with regard to real and compound chocolate consumption, which is likely to work in favor of the market in the region in the years ahead.
The real and compound chocolate market in North America experiences significant innovation when it comes to ingredients like cocoa as well as cocoa-substitutes. Real chocolate finds more buyers in the American market, with the demand for dark chocolate in the region growing at a striking rate. Data experts observe due to the healthy food perception pertaining to dark chocolate in the region captivates massive consumer attention.
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