Industrial chocolate, known for its brown color and sweet taste, is produced from cocoa liquor or paste. Coaching involves incorporating ingredients like butter, sugar, and powdered milk into the paste. The industrial chocolate industry is characterized by low technological barriers and labor-intensive operations, with numerous companies involved in production. Industrial chocolate has diverse applications in the food industry, including the production of confectionery, baked goods, ice cream, and beverages. It provides flavor, texture, and stability to these products. Industrial chocolate features high-quality cocoa solids, cocoa butter, and sugar and is formulated to withstand processing conditions while maintaining desirable taste, aroma, and appearance.
According to Data Bridge Market Research, the Industrial Chocolate Market accounted for USD 7.50 billion in 2021 and is expected to reach USD 10.79 billion by 2029. The market is expected to grow with a CAGR of 4.65% in the forecast period of 2022 to 2029.
“Growing awareness about benefits of industrial chocolate boosts the market’s growth”
The industrial chocolate market is experiencing growth driven by the increasing awareness of the health benefits associated with consuming cocoa-rich products. Cocoa is known to aid in reducing hypertension, combating chronic fatigue syndrome, providing protection against sunburn, and offering various other health benefits to the human body. The presence of polyphenols in cocoa helps protect bodily tissues from oxidative stress and related diseases like cancer and inflammation. These factors play a significant role in driving the advancement of the industrial chocolate market.
What restraints the growth of the industrial chocolate market?
“Expensive raw materials restraints the market’s growth”
Expensive raw materials restrict the growth of the industrial chocolate market. Cocoa, a primary ingredient in chocolate production, experiences price fluctuations and can be expensive due to factors like limited supply and unpredictable weather conditions affecting cocoa cultivation. These high raw material costs can challenge chocolate manufacturers, impacting their profit margins and pricing strategies. Additionally, the volatility of raw material prices can discourage new entrants from entering the market. Therefore the expensive raw materials restraints the market’s growth.
Segmentation: Industrial Chocolate Market
The industrial chocolate market is segmented on the basis of distribution channel, application, type and product.
- On the basis of distribution channel, the industrial chocolate market has been segmented into online, and offline.
- On the basis of application, the industrial chocolate market has been segmented into confectionery, biscuits and bakery products, dairy and desserts, ice creams and frozen items, cereals, and other industrial chocolate applications.
- On the basis of type, the industrial chocolate market has been segmented into milk/white chocolate, and dark chocolate.
- On the basis of product, the industrial chocolate market has been segmented into softlines/ selflines, countlines, molded chocolates, and others.
Regional Insights: Europe dominates the industrial chocolate market
Europe dominates the industrial chocolate market due to factors such as growing consumer preference for dark chocolate, expanded product availability in retail stores, a heightened focus on texture to enhance the multisensory experience, and increasing consumer income levels.
The Middle East and Africa are expected to be the fastest growing regions in terms of industrial chocolate market growth due to the rise in specialty retailers and recent shifts in lifestyle and consumption patterns. These factors have contributed to consumers' changing preferences and demands, leading to significant growth opportunities in the market.
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Recent developments
- In February 2022, Hershey's introduced a limited edition chocolate bar, named "Celebrate SHE," in honor of All Women and Girls. The brand prominently features the word "SHE" in the center of the milk chocolate bar, commemorating and acknowledging their importance.
- In January 2022, Mondelez International's brand, Cadbury, has launched a packaging innovation called Twist Wrap for its Duos range. This unique packaging enables consumers to enjoy the chocolate bar in smaller portions by twisting and sealing the package after consuming half of it. This feature promotes portion control and convenience for snacking on the go.
- In September 2021, Ferrero is set to pre-launch its new Ferrero Rocher Tablets in the travel-retail sector through a collaboration with Lagardère. With this entry, Ferrero ventures into the chocolate tablet market, offering the new product in three delectable flavors: milk, dark with 55 percent cocoa, and white.
The Prominent Key Players Operating in the Industrial Chocolate Market Include:
- Cemoi Chocolatier (France)
- Republica del Cacao (Ecuador)
- Nestlé S.A. (Switzerland)
- Mars Incorporated (U.S.)
- Fuji Oil Holdings Inc. (Japan)
- Guittard Chocolate Co. (U.S.)
- Ghirardelli Chocolate Co. (U.S.)
- Varihona Inc. (France)
- Barry Callebaut AG (Switzerland)
- Alpezzi Chocolate SA De CV (Mexico)
- Kerry Group Plc (Ireland),
- Olam International Ltd. (Singapore)
- Tcho Ventures Inc. (U.S.)
- The Hershey Company (U.S.)
- Cargill, Incorporated (U.S.)
- Blommer Chocolate Company (U.S.)
- Foley's Candies LP (Canada)
- Puratos Group Nv (Belgium)
- Ferrero International S.A. (Italy)
Above are the key players covered in the report, to know about more and exhaustive list of industrial chocolate market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Industrial Chocolate Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
