Chocolate ingredients include cocoa, liquor, milk, sugar, butter, and others. The pricing of chocolate ingredients is driven by manufacturing, particularly cocoa, which is a significant component of chocolates worldwide. Consumers are becoming more aware of the range of snacking goods available on the market as their disposable income grows, driving up demand for chocolate ingredients.
MARKET SCOPE
The "Global Chocolate Ingredient Market Analysis to 2028" is a specialized and in-depth study of the food and beverages industry with a special focus on the global market trend analysis. The report aims to provide an overview of the chocolate ingredient market with detailed market segmentation by type, application, and geography. The report provides key statistics on the market status of the leading chocolate ingredient market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on type, the global chocolate ingredient market is segmented into milk chocolate, dark chocolate, and white chocolate.
- Based on distribution channel, the market is bifurcated into bakery and confectionery, dairy and frozen desserts, beverages, RTE food and snacks, and others.
MARKET DYNAMICS
Drivers:
- Enhancing demand and preference of consumers for chocolates contributes to the growth of the chocolate ingredient market.
- The dark chocolate due to several health benefits such as skin protection, improved blood flow, reduces risk of heart disease to boost market growth of chocolate ingredient.
- Properties offered by chocolates like rich in antioxidants, soluble fibers, minerals and bioactive compounds is also boosting the market growth.
- Innovations adopted by manufacturers such as including unique cocoa beans, natural sweeteners is also boosting the market.
Restraints:
- Higher prices of premium chocolates may hinder the market growth.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The chocolate ingredient market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the chocolate ingredient market in these regions.
IMPACT OF COVID-19 ON CHOCOLATE INGREDIENT MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities. However, with opening of several markets across the globe, vaccination development, and initiatives taken by various governments to support economic and industrial growth, the future demand of chocolate ingredient market is anticipated to grow at a positive and steady pace in the coming years.
MARKET PLAYERS
The report covers key developments in the chocolate ingredient market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from chocolate ingredient market are anticipated to lucrative growth opportunities in the future with the rising demand for chocolate ingredient in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the chocolate ingredient market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Britannia Industries Limited
- Cargill, Incorporated
- Friesland Campina Kievit BV
- Godiva Chocolatie
- Hershey's Food
- JBCOCOA Sdn. Bhd.
- Kerry Group
- Lake Champlain Chocolates
- Nestle S.A.
- Petra Foods Limited