Dublin, Oct. 10, 2023 (GLOBE NEWSWIRE) -- The "Industrial Chocolate Market by Product Type, Application, and Region 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global industrial chocolate market size reached US$ 7.68 Billion in 2022. Looking forward, the market is set to reach US$ 10.1 Billion by 2028, exhibiting a growth rate (CAGR) of 4.59% during 2023-2028.
The report offers a comprehensive analysis of the competitive landscape within the global industrial chocolate market. This includes an examination of market structure, market share held by key players, player positioning, top-performing strategies, a competitive dashboard, and an evaluation quadrant for companies.
Several factors are driving the market, including the increasing demand for sugar-free and organic chocolates, the rising popularity of premium dark chocolates, and the growing utilization of industrial chocolates in the bakery and confectionery industry.
Industrial chocolates are mass-produced chocolate products created for commercial purposes, such as baking, confectionery, and beverages. They are produced by processing cocoa beans into cocoa liquor and combining them with various other ingredients like sugar, milk powder, and vegetable oil.
The production involves large-scale mechanized processes, conducted in specialized facilities to ensure efficient and cost-effective production. Industrial chocolate is used in various food products such as candy bars, chocolate-coated snacks, baking mixes, and hot chocolate mixes. Additionally, it finds numerous applications in the food service industry, including desserts, pastries, and beverages.
Industrial Chocolate Market Trends:
Europe has been the largest market for industrial chocolate. The factors driving the industrial chocolate market in Europe include the growing demand for chocolate-based products like candies, snack bars, shakes, and baked goods, the increasing popularity of premium chocolates, and ongoing product innovations.
The shift in consumer preference towards sugar-free, low-calorie, and organic chocolates over traditional chocolates due to health-consciousness is a significant driver of market growth.
Furthermore, the rising demand for high-quality, premium chocolates, increased need for cocoa butter substitutes, and growing consumer awareness about the health benefits of dark chocolate are contributing to a favorable market outlook.
The substantial demand for industrial chocolates from the thriving confectionery industry for candy bars and chocolate-coated snacks, along with extensive use in cosmetics, pharmaceuticals, and nutraceuticals, is aiding market expansion.
The expanding demand for chocolate-based desserts, snack bars, and beverages, especially among on-the-go millennials and youngsters, presents lucrative growth opportunities. This trend, along with ongoing product innovations, the tradition of gifting chocolates, and the increasing popularity of baked products like chocolate cakes, pastries, donuts, and cupcakes, is fueling market growth.
Additionally, the growth of the food service industry, rising disposable incomes, and the availability of innovative product variants through various online and offline retail channels are positively impacting market growth.
Key Questions Answered in This Report:
- How has the global industrial chocolate market performed so far, and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the global industrial chocolate market?
- What is the impact of each driver, restraint, and opportunity on the global industrial chocolate market?
- What are the key regional markets?
- Which countries represent the most attractive industrial chocolate market?
- What is the breakup of the market based on the product type?
- Which is the most attractive product type in the industrial chocolate market?
- What is the breakup of the market based on the application?
- Which is the most attractive application in the industrial chocolate market?
- What is the competitive structure of the global industrial chocolate market?
- Who are the key players/companies in the global industrial chocolate market?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 139 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $7.68 Billion |
| Forecasted Market Value (USD) by 2028 | $10.1 Billion |
| Compound Annual Growth Rate | 4.7% |
| Regions Covered | Global |
Competitive Landscape:
- Berry Callebaut AG
- Campco Chocolates
- Cargill Incorporated
- Cemoi Chocolatier
- Clasen Quality Chocolate
- Foleys Candies LP
- Fuji Oil Co. Ltd.
- Guittard Chocolate Company
- Kerry Group PLC
- Natra SA
- The Hershey Company
Key Market Segmentation:
Product Type Insights:
- Cocoa Powder
- Cocoa Liquor
- Cocoa Butter
- Compound Chocolate
Application Insights:
- Bakery Products
- Confectionery
- Bakery Premixes
- Beverages
- Frozen Desserts and Ice Creams
- Others
Regional Insights:
North America
- United States
- Canada
Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
For more information about this report visit https://www.researchandmarkets.com/r/dfwgu5
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