Pune, India, Dec. 20, 2021 (GLOBE NEWSWIRE) -- The global real and compound chocolate market size was USD 25.38 billion in 2020. The market is estimated to grow from USD 27.09 billion in 2021 to USD 40.64 billion by 2028 at a CAGR of 5.96% in the 2021-2028 period. This information is provided by Fortune Business Insights™, in its report, titled, “Real and Compound Chocolate Market, 2021-2028.”
According to our researchers, the demand for pioneering chocolate products, ingredients, as well as premium chocolate confectioneries in developing and advanced countries has perceived an affirmative trend in past few years. This has been accredited to the increasing consumer spending on indulgent confectionery products, particularly chocolate confectioneries. This trend has bolstered the sales of chocolate products and cocoa.
List of Companies Profiled in the Global Real and Compound Chocolate Market are:
- Barry Callebaut AG (Zürich, Switzerland)
- Puratos Group (Dilbeek, Belgium)
- Mondelez International (Illinois, U.S.)
- Cargill Incorporated (Minnesota, U.S.)
- Nestlé S.A. (Vevey, Switzerland)
- Fuji Oil Company Limited (Japan)
- The Hershey Company (Pennsylvania, U.S.)
- Mars Incorporated (Virginia, U.S.)
- Olam International (Singapore)
- CEMOI Group (France)
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COVID-19 Impact
Commotions in Cocoa Supply Chain and Termination of Hospitality Sector amid COVID-19 to Harmfully Influence Market
The COVID-19 pandemic has adversely impacted the food & beverage processing industry. Since majority of the nations observed a lockdown in 2020 and in order to avert the spread of the virus, the demand for real and compound chocolate in the hospitality industry observed a considerable dip in sales.
The cocoa grindings in Asia dropped by nearly 6% in the second quarter of 2020. During the primary phases of COVID-19, cocoa costs plummeted and transportation prices up surged. The major task was to accumulate cocoa from smallholder farmers and deliver it to cocoa exporters as well as cocoa processors for chocolate making.
Report Coverage
The report offers a detailed study of the market and a keen examination of the major segments of the market. It provides an in-depth analysis of key players and their insightful strategies to spur the market growth for monetary gains. It also shares tangible insights which guide business owners with their investment perspective.
The regional dynamics and how they shape the market in an upward curve are presented in the following report. Moreover, COVID-19 impacts have been added for additional information and how it is expected to affect the demand for chocolate products in the near future.
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/industry-reports/real-and-compound-chocolate-market-101681
Segmentation
By product category, the market is bifurcated into real chocolate and compound chocolate. Whereas by type, the market is divided into milk chocolate, dark chocolate, and white chocolate.
The market has been divided into chips, slabs, coating, and others under by form category. It has also been divided into confectionary, bakery, dairy and frozen desserts, beverages, and other, under by application.
Based on region, the market is classified into North America, Europe, Asia Pacific, South America, Middle East & Africa.
Drivers and Restraints
Augmented Demand for First-class Confectioneries to Spur Sales of Chocolates
Confectionery depends on premiumization in a market that has seasoned but endures to grow humbly. In the U.S., there is a specific curiosity in artisan and gourmet flair selections, frequently concentrating on the origin of cocoa, its content in the done product, and the usage of supplementary ingredients and flavors of great significance.
Moreover, fascination of chocolate based desserts and sweets across the globe has greatly elevated. This is anticipated to bolster the real and compound chocolate market growth during the forecast period.
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Regional Insights
Europe was worth USD 12.39 billion in 2020. Europe is anticipated to hold the majority of the real and compound chocolate market share, owing to the huge cocoa processing base and robust manufacturing industry prevailing in the region.
North America contains of a large customer base and the second-largest market for real and compound chocolate, owing to the great per capita utilization of chocolate-based products.
Asia Pacific holds the third-largest market share owing to the rising millennial population in the region and their growing predisposition towards fine quality chocolate confectioneries in developing countries such as India as well as China, among others.
Competitive Landscape
Collaborations among Companies to Safeguard Their Brand Values in Global Market
Important players in the market are incessantly rooting for efficient tactics to endorse their products and establish their positions in the market. One such approach is to unveil novel products by partnering up with other companies to encompass their reach to end-users.
Key Industry Development:
June 2021: Puratos UK, which is a transnational organization that provides inventive products, unveiled two novel chocolate products in its Belcolade series that intends to preserve the taste of real Belgian chocolate in spite of encompassing 40% lower sugar levels.
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Overview of the Parent/Related Markets
- Supply Chain & Regulatory Analysis
- Global Real and Compound Chocolate Applkication Trend Analysis
- Industry SWOT Analysis
- Recent Industry Developments - Policies, Mergers & Acquisitions, and
- New Product Launches
- Market Analysis and Insights (in Relation with COVID-19)
- Impact of COVID-19 on the Market
- Supply Chain Challenges due to the Pandemic
- Potential Opportunities Due to COVID-19
- Global Real and Compound Chocolate Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Product Category (Value)
- Real Chocolate
- Compound Chocolate
- By Type (Value)
- Milk
- Dark
- White
- By Form (Value)
- Chip
- Slab
- Coatings
- Others
- By Application (Value)
- Confectionery
- Bakery
- Dairy and Frozen Desserts
- Beverages
- Others
- By Region (Value)
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
- By Product Category (Value)
TOC Continued…!
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Have a Look at Related Research Insights:
Cocoa and Chocolate Market Size, Share & COVID-19 Impact Analysis, By Type (Cocoa Butter, Cocoa Liquor, Cocoa Powder, Dark Chocolate, Milk Chocolate, White Chocolate, and Filled Chocolate), By Application (Food & Beverages, Cosmetics, Pharmaceuticals, and Others), and Regional Forecast, 2020-2027
Confectionery Market Size, Share & COVID-19 Impact Analysis, By Type (Chocolate, Sugar, and Gums), Distribution Channel (Hypermarket/Supermarket, Convenience Stores, Departmental Stores, and Online Retails), and Regional Forecast, 2021 – 2028
Sugar-free Chocolate Market Size, Share & Industry Analysis, By Form (Candies, Bars, Sugar-free Chocolate Coated Nuts, Sugar-free Chocolate Chips, Others), By Type (100% Sugar-free, No Added Sugar), By Category (Organic, Conventional), By Distribution Channel (Supermarkets/Hypermarkets Retail Stores, Specialty Stores, Online Retail) And Regional Forecast 2021-2028
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