Market Research Report
Global Compound Chocolate Market - Growth, Trends, and Forecast (2020 - 2025)
|Published by||Mordor Intelligence Pvt Ltd||Product code||389744|
|Published||Content info||110 Pages
Delivery time: 2-3 business days
|Global Compound Chocolate Market - Growth, Trends, and Forecast (2020 - 2025)|
|Published: January 1, 2020||Content info: 110 Pages||
The Global Compound Chocolate Market is forecasted to grow at a CAGR of 6.31% during the forecast period of (2019-2024).
Market Definition: Compound chocolates, as defined by FDA, are cocoa products containing cocoa butter substitute (CBS) or cocoa butter equivalent (CBE). The vegetable fats commonly used are often hard fats or fats semi-solids at room temperature, such as coconut oil and palm Kernel oil.
Scope of the study for the global compound chocolate market is segmented by Type as Dark compound chocolate, Milk compound chocolate and White compound chocolate); by Product as Chocolate Chips/Drops/Chunks, Chocolate Slabs/bars, and Liquid Chocolate; by Application includes Bakery, Confectionery, Ice Cream, and Frozen Desserts and Geography.
Economical and Desirable Substitute of Cocoa Butter
The cocoa butter equivalents (CBE - mainly shea, illipe, sal, and palm) have physical properties and molecular structure similar to that of cocoa butter, and are thus, increasingly employed for varieties of chocolate confections. The cocoa butter substitutes have witnessed a surge in their prices, owing to the higher demands. However, their prices are still half, when compared to cocoa butter, which maintains their affordability, and as a result, increases its demand. The cocoa prices have witnessed significant volatility over the last decade. Such intense fluctuations drastically affect procurement and sourcing operations. Factors, like unfavorable weather and political and economic scenario, can drastically affect the sustainable procurement. Thus compound chocolate significantly reduce the complexities associated with cocoa-based products.
North America is the Largest Market Segment
Qualities of compound chocolate, such as its attractive price, as compared to pure cocoa-based chocolates and the fact that it hardens without tempering, are making it an ideal choice for food manufacturers in various segments, such as bakery, confectionery, ice creams, and frozen desserts. Milk chocolate dominates the compound chocolate market and continues to register demand, along with the other flavors. Among product types, chocolate coatings register the highest demand among the consumers. Compound chocolate finds major applications within the confectionery industry, followed by the bakery, and thereafter, the ice cream and frozen dessert industry. Companies are coming up with sustainable solutions for sourcing and the usage of cocoa butter substitutes or cocoa butter equivalents for confectionary products.
Manufacturers are coming up with several innovations in health aspects with better Cocoa Butter Substitutes (CBS) and Cocoa Butter Equivalent (CBE). As the manufacturing methods and flavors of compound chocolates improve, the cost differential in comparison to chocolate will make chocolate compounds a more desirable choice. Major Players of compound chocolate market are Cargill, ADM, Barry Callebaut and Clasen Quality Chocolate.