Market Analysis: Global Industrial Chocolate Market
Global industrial chocolate market is expected to rise from its initial estimated value of USD 52,100 million in 2018 to an estimated value of USD 72,407 million by 2026, registering a CAGR of 4.2% during the forecast period of 2019-2026. This rise in market value can be attributed to the rising need of plant protein and also the rising amount of health concerns and veganism worldwide.
Market Definition: Global Industrial Chocolate Market
Industrial chocolate is usually brown and sweet, they are made from cocoa liquor or paste. The paste/cocoa liquor undergoes a process called coaching in which butter along with other ingredients like sugar and powdered milk are added into it. Industrial chocolate industry has low technology barrier and is a labour intensive industry. Currently, there are many producing companies in the chocolate industry.
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- Growing awareness on the health benefits of pure and dark chocolate
- Rising disposable income of population in developing countries
- Expensive raw materials and uncertain climatic condition is expected to act as a restraint for the market.
- Rising chocolate substitute market
Segmentation: Global Industrial Chocolate Market
- By Application
- Biscuits and bakery products
- Dairy and desserts
- Ice creams and frozen items
- Other industrial chocolate applications
- By Geography
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East & Africa
- North America
Key Developments in the Market:
- In September 2018, Kerry Group’s first ingredients production facility was opened in Moscow, Russia. The site will undertake the manufacturing and production of ingredients for the meat processing and snacks market.
- In November 2018, Fuji Oil Holding, Inc., entered into an agreement to acquire the Blommer Chocolate Co.(U.S.), which is one of the largest ingredient chocolate manufacturer and cocoa processor in North America
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Competitive Analysis: Global Industrial Chocolate Market
Global industrial chocolate market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of industrial chocolate market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
Key Market Competitors: Global Industrial Chocolate Market
Few of the major competitors currently working in industrial chocolate market are Nestle Mondelēz International, Mars Incorporated, Barry Callebaut, The Hershey Company, Ferrero, Cargill Incorporated, LOTTE Co. Ltd. Chocoladefabriken Lindt & Sprüngli AG, Yildiz Holdings, Moonstruck Chocolatier, Meiji Holdings Co. Ltd., Blommer Chocolate Company, Foley’s Candies LP, Kerry Group.
Research Methodology: Global Industrial Chocolate Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request An Analyst Call or can drop down your inquiry.
The key research methodology used by DBMR Research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include vendor positioning grid, market time line analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, top to bottom analysis and vendor share analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Competitive analysis of key competitors involved in the market
- Complete analysis of Market Segmentation and which segments are set to flourish in the forecast period of 2019 to 2026
- Market Drivers and Restraints analysis along with the analysis of the market structure
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