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Industrial Chocolate Market - Global Outlook and Forecast 2019-2024

1st Edition

SKU : ARZ190216
  • Published on : March 2019

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Iglobal industrial chocolate market report details

This market research report on the global industrial chocolate market offers analysis on market size & forecast, market share, industry trends, growth drivers, and vendor analysis. The market study also includes insights on segmentation by products (cocoa butter, cocoa liquor, and cocoa powder), by application (bakery, ice-cream and frozen dessert, dairy, cereals, and others), by market entity (open and integrated), by type (chocolate confectionery and cocoa and other chocolate products), and by geography (North America, Europe, APAC, and ROW).

Industrial Chocolate Market - Overview

Chocolate is presented as a snack, a treatment, an item on the menu, or an experience and vendors are focusing on new ways to attract consumers in the global industrial chocolate market. The increasing degree of sensitization around food brands and increasing responsibility around sourcing, production, and the overall handling of those involved in the production is driving the resolution of the food and beverage industry in the global market. The importance of environmental cost of the chocolate and the ethical considerations are driving demand for certified products in the global market. The increasing focus on creating a unique experience is encouraging the companies to launch innovative products in the market. From multisensory to sharing experiences, vendors are tapping into delivering satisfaction through a myriad of ways in the market. The growing number of regulation and legislation is impacting the way food products are sourced and delivered in the global market. The rapidly shifting consumer needs, players are innovating to deliver products that will make the customer happier and healthier, and guaranteeing care in the cultivation and manufacturing of cocoa beans and chocolates in the global market. The paradigm shift in the behavior and increasing awareness about health and obesity is fueling the demand for healthier and sustainable products in the market. Several companies are working on staying relevant to the changing marketplace, deviating tastes and the incumbents demand more from products. Premium products lead the way for innovations in the global industrial chocolate market.

India and Mexico have good economic climate and condition, a youthful population, and a growing number of chocoholics thereby, encouraging vendors to invest in these regions in the global market. The shift in trend of “nutraceutical” to “health and wellness” is leading to a more holistic approach of introducing these ancient ingredients as superfoods in the market. The global industrial chocolate market is estimated to ship over 9500 thousand tons by 2024, growing at aCAGR more than 3% during 2018-2024.

Market overview 2024

Industrial Chocolate Market – Dynamics

The increasing focus on texture for a multisensory experience will result in the transformation of the global industrial chocolate market. The products that manifest through texture can play on the experiences of feel, sound, and satisfaction and are becoming more critical than ever in the market. The use of textures has evolved beyond creamy or smooth to include multisensory experiences that come from layering creatively or combining ingredients differently in the market. From chunky chocolates that give more bite to combinations such as crunchy additions in a soft filling are breaking new ground and taking textures to the next level in the global market. For instance, Barry Callebaut has introduced sensory language and a tasting ritual for chocolates. Some of the products launched in the global market such as extra crunch, or an aerated and fizzy sensation filling are gaining immense popularity. These textural effects will act as a tool for iconic brands to breathe new life into their products as opposed to entirely coming up with new concepts in the market. The launch of new products will give vendors a competitive advantage in the global industrial chocolate market.

Industrial Chocolate Market – Segmentation

This market research report includes a detailed segmentation of the market by products, application, market entity, type, and geography.

Market segments

Industrial Chocolate Market – By Products

The focus on developing new confectionery products with a rounded mouthfeel drives innovation in the global industrial chocolate market

The global industrial chocolate market by products is segmented into cocoa butter, cocoa liquor, and cocoa powder. Cocoa butter dominated the total market share in 2018, growing at a CAGR of over 3% during the forecast period. The growing demand in new confectionery products is particularly prevailing in developed countries where the end consumer wants a refined mouthfeel is fueling the growth of this segment in the global market. With consumers beginning to realize that all types of fats are not bad, unsaturated fats, and in general pure butter (which has a natural halo) has found acceptance in the market. Such high demand for good quality products is fueling the demand for cocoa butter among chocolate manufacturers in the global market. Players such as Mars have begun to claim that their products have 100% pure cocoa butter – something that has been a regular with artisan shops in the market. The high price of cocoa butter often leads to the makers looking for alternatives in the global industrial chocolate market.

Prominent players are offering cocoa liquors in more flexible use and unique formats such as ingot blocks for better quality outcomes during the melting process in the market. The substantial health benefits through a processing methodology that preserves the naturally occurring cocoa flavanols, which are otherwise lost during conventional manufacturing processes in Cocoa powder will transform the global industrial chocolate market.

Industrial Chocolate Market – By Application

Cocoa flavored dairy products are becoming a rage among consumers in the global industrial chocolate market

The application segment in the global industrial chocolate market is classified into bakery, ice-cream and frozen dessert, dairy, cereals, and others. The dairy application is the fastest growing segment in the global market, at a CAGR of approximately 4% during the forecast period. The increasing use of chocolate flavorings in newly developed milk products, yogurts, and creamers is fueling the growth of this segment in the global market. The nostalgic appeal of chocolate has reserved its space in flavors that are going to remain eternal from grandma’s chocolate cake to aunt’s pie; chocolate tends to lead to tons of food memories. These factors are driving demand for alkalized cocoa powders in the global market. The introduction of chocolate-flavored yogurt and other such novelty products are gaining immense prominence in the market. The vendors such as Olam Cocoa are offering a mild cocoa powder that has an enhanced fruity flavor, which is lower on the bitterness scale to increase the application of these products in the market. The availability of a large palate of cocoa powder colors, ranging from dark brown or light brown to dark red and sometimes even black will contribute to the revenues in the global industrial chocolate market.

The increasing influence of social media and access to far more resources on dessert-making, ready-to-bake fillings and pie crusts that allow hosts to serve up treats are making inroads in the ice-cream segment in the global market. The growing demand for convenient and healthier breakfast options such as energy bars, yogurts, breakfast sandwiches from convenience stores, and smoothies will drive the growth of the global industrial chocolate market.

Industrial Chocolate Market – By Type

New combinations and experiences emerging as the driving factor across the global industrial chocolate market

The global industrial chocolate market by type is divided into chocolate confectionery and cocoa and other chocolate products. Chocolate confectionery occupied the largest market share in 2018, growing at a CAGR of over 3% during the forecast period. The new combinations and experiences are becoming a must-do in the chocolate industry and fueling the growth of this segment in the global market. The increasing demand for happy bakes and chocolate nibbles will increase lucrative opportunities for top vendors operating in the market. With the rising awareness about health and wellness and the rising number of consumers seeking out foods enriched with healthy ingredients will create new opportunities for vendors in the global market. Manufacturers have responded with the consistent introduction of chocolate confectionery that is promoted with words such as cacao-rich, natural, and single-origin to meet the diverse demands in the global market. The growing demand for organic, fortified functional and reduced-sugar chocolate confectionery is fueling the diversity in the global industrial chocolate market.

The availability of a wide range and increasingly expanding products such as cocoa amaretti granules, brownie cubes, and caramelized nibs granules are gaining immense popularity in the global market. The manufacturers are adding spice, floral, and superfood additions to these products to create product differentiation in the global industrial chocolate market.

Industrial Chocolate Market – By Market Entity

Companies are reinventing their products portfolio to attract consumers in the global industrial chocolate market

The type segment in the global industrial chocolate market is categorized into open and integrated. The open entity is the fastest growing segment in the global market, at a CAGR of more than 3% during the forecast period. The top companies are focusing on product development and innovations which is fueling the growth of this segment in the global market. The open market is benefitting as consumer chocolate companies outsource their production together with processing so they can handle marketing and R&D for their brands. Several vendors have grown through acquisitions of chocolate and compound production facilities of other chocolate and cocoa producers and processors and then outsourced to them in the market. Outsourcing agreements from APAC are allowing players to gain a strategic foothold, especially in the emerging markets, thereby fueling the global market potential. Such agreements also include teamwork in joint R&D activities to innovate, thus supporting the growth of the client while also giving the supplier a deeper understanding and expertise of the immediate market. The focus on testing innovation will revolutionize the global industrial chocolate market.

The growth of the integrated chocolate segment allows producers to control the entire process of manufacturing, thereby assuring product quality in the global market. The commitment to sustainability across the entire value creation chain will drive the evolution of the global industrial chocolate market.

Industrial Chocolate Market – By Geography

Switzerland emerges as the most loved and noted region in the global industrial chocolate market

The global industrial chocolate market by geography is segmented into North America, Europe, APAC, and ROW. Europe dominated the global market share in 2018, growing at a CAGR of 3% during the forecast period. Europe dominates the production, export, and consumption of chocolate in the global market. The increasing preference for region specific ingredients is fueling the growth of the European region in the global market. The increasing investments in production innovations, novelties, and sophisticated product development is contributing to the revenues in the European market. For instance, the partnership with a wine-tasting expert to market and create tasting experiences like wine tasting, but for chocolates through origin tasting boxes is gaining immense popularity in the market. The Scandinavian and the Nordic countries are extremely forward in terms of chocolate making and will contribute to the growing revenues in the global industrial chocolate market.

Trends such as fiber and protein enrichment and dairy-free chocolate with the growth of veganism are transforming the industry in the North American market. Various global industrial chocolate market players are openingR&D centers and training academies in Singapore, China, India, Japan, Malaysia, and Indonesia.

Key countries profiled in the report are:

  • UK
  • France
  • Germany
  • US
  • Canada
  • Japan
  • China
  • Australia
  • India
  • Brazil
  • South Africa
  • UAE

Key Vendor Analysis

The global industrial chocolate market has a high concentration, and the top 4 players contribute over 90% of the total revenues. The leading vendors are investing in capacity expansion into cocoa producing countries to stay better sheltered from the unbalanced climatic and economic situations in the global market. The increasing focus on enhancing discoverability through several cultural and novelty influences and refining what companies are offering will help attract new consumers in the global market. The top players are competing on the basis of product innovation, product quality, and price in the global industrial chocolate market.

The major vendors in the global market are:

  • Barry Callebaut Group
  • Cargill
  • Fuji Oil
  • Cémoi

Other prominent vendors include Aalst Chocolate, Baronie, Chocoley, ClasenQuality Chocolate, Ferrero, Guittard, IRCA, Mars, Nestlé, Olam International, Puratos, Santa Barbara Chocolate, Sephra, The Hershey Company, Unigrà, and Valrhona.

Key market insights include

  1. The analysis of the global industrial chocolate market provides market size and growth rate for the forecast period 2019-2024.
  2. It offers comprehensive insights on current industry trends, trend forecast, and growth drivers about the global industrial chocolate market.
  3. The report provides the latest analysis of market share, growth drivers, challenges, and investment opportunities.
  4. It offers a complete overview of market segments and the regional outlook of the global industrial chocolate market.
  5. The report offers a detailed overview of the vendor landscape, competitive analysis, and key market strategies to gain competitive advantage.

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