Market Insights
Global Real and Compound Chocolate Market is projected to grow at a noteworthy CAGR of 2.81% during the forecast period, 2017-2024, according to Market Research Future.
Real chocolate and compound chocolate are different products used in different agri-food applications, such as dairy products, baked goods, frozen desserts, chocolate syrups and pastes, and others. The difference between the products is purely based on the ingredients used. Real chocolate consists of powdered milk, sugar, cocoa butter, and cocoa mass, while in chocolate composed cocoa butter extracted from the cocoa mass and cocoa bean is replaced by oils, vegetables, and cocoa powder, respectively. The compound chocolate market is expected to have a higher CAGR during the forecast period, due to the low cost of compound chocolate and its increasing application to cheaper chocolate products. In addition, the chocolate composition’s ability to cure without tempering is beneficial for its use in ice cream, confectionery, jams, and other frozen desserts. Compound chocolate effectively reproduces the functional characteristics of real chocolate at a lower price, which stimulates the growth of the compound chocolate market compared to the real chocolate market.
In addition, the growing demand for confectionery and exotic foods offers real chocolate makers and huge opportunities to increase their ability to produce real chocolate and spice blends. As a result, the industry is expected to accelerate during the reporting period. In addition, the inclusion of creative product packaging offered consumers better options, further supporting the growth of the real and compound chocolate market.
The growing obese population, however, is a major obstacle to market growth due to the growing health problems associated with excessive calorie, fat, and sugar consumption in chocolate and chocolate products.
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Market Players
Major players in the real chocolate and compound chocolate industry have adopted strategies such as geographic expansion, new product launches, acquisitions, deals, and R&D to strengthen their business and investments. These industry giants include Mars Inc. Mondelez International, Inc., The Hershey Co., Barry Callebaut AG, Nestle S.A., Blommer Chocolate Company, Foley’s Candies Ltd, Ferrero SPA, Guittard Chocolate Company, and Alpezzi Chocolate. Most companies operating in this market are focused on expanding their activities to new regions, expanding their capabilities and investment in research and development to deliver enhanced functionality products.
Recent Updates
According to study conducted by Dr Sarah Jackson of University College London, consumption of dark chocolate can help in decreasing the lower the risk of depression by up to 70%. The study based on the examination of 14,000 adults, states that consuming a slab of 104g dark chocolate could relieve depression and help enhance the mood. The high contents of cocoa in dark chocolate is the element that helps to reduce the feelings of depression.
Market Segmentation
The real and compound chocolate market is majorly classified based on its type and application.
Based on the type, both real chocolates and compound chocolates are bifurcated into milk, dark, and white in the global market.
Similarly, the application segment of the global market is also divided into bakery & confectionery, syrups & spreads, dairy & frozen desserts, beverages, and others; for both real chocolates and compound chocolates.
Regional Foresights
Region-wise, the European region dominates the market during the forecast period. The European real and compound chocolate market is expected to see average annual growth of 1.94% and 2.83% over the forecast period due to the high consumption of real and compound chocolate products in this region. The Asia Pacific region is also predicted to have the highest growth rate during the 2017-2024 forecast period. In Asia Pacific, China dominates the market with largest market share. However, In the Asia Pacific region, India is expected to witness the highest growth rate during the 2017-2024 forecast period.
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