The global compound chocolate market was valued at US$14.576 billion in 2020. The wide range of applications of compound chocolate in the production of a certain variety of products is giving potential to the market growth of the global compound chocolate market. The flexibility offered by compound chocolates in mixing with different products and giving immense taste and flavor accompanied with health benefits is boosting the market demand for compound chocolate products. The development and produce innovative products like ganache, chocolate syrup, chocolate cakes, chocolate syrups, and chocolate candies among others, are efficiently made with the usage of compound chocolate compared to normal coco chocolate. The rising demand for compound chocolate products in developing and developed countries are hiking the market of compound chocolate in the global market. The more flexibility and mixing properties showcased by compound chocolates are increasing the demand for compound chocolate compared to conventional normal cocoa chocolates. Compound chocolate is a mixture or a product developed from the proper combination or mixing of vegetable oil, cocoa, and sweeteners. The more flavor, taste, and wide variety of products offered by compound chocolate with less cost are rising the demand for compound chocolates in the global market. The high-cost vegetable oils used in compound chocolates are showcasing certain health properties and also have less cost compared to the chocolate derived or made from cocoa. The rising price of cocoa butter in the market is restraining the popularity of cocoa chocolate on the other hand boosting the demand for compound chocolate products. The availability of compound chocolates in dark, milk, and white type are also hiking the demand for compound chocolates among children. The applications of compound chocolate in chocolate bars, chocolate chips, cereals, ice creams, pastries, and bakery products are increasing the market composition of products leading to more market growth.
The recent outbreak of the COVID pandemic had adversely affected the market growth of the global compound chocolate market. The isolations and lockdowns imposed by international governments in preventing COVID from spread had resulted in the restriction of market growth of the global compound chocolate market. The shut down of manufacturing plants and production units of compound chocolate resulted in the less production of compound chocolate products, leading to the less availability of products in the market. The shutdown of retail shops and supermarkets, due to the COVID pandemic also restricted the market growth of compound chocolate to a certain extent. The less availability of human resources and labor in the production units of major companies resulted in less production of compound chocolate products leading to less consumption of compound chocolate products in the market. The blocks and regulations imposed in the supply chain sectors of the chocolate industry also resulted in the declination of export and import rate of compound chocolate and chocolate products, resulting in the declination of the global compound chocolate market.
Innovative products with taste and health.
The development of innovative new products from compound chocolate is increasing the popularity of compound chocolate compared to conventional cocoa chocolate. The high investment of major market players in the chocolate industry for the development of new products with health benefits and taste is pointing to the market growth of the compound chocolate market in the forecasted years. The development of Cadbury dairy milk with 30% less sugar content developed by Mondelez, is an innovative product with health benefits in the global compound chocolate market. The organic and less sugar content chocolate varieties developed from compound chocolate are capturing the chocolate market to a large extent, contributing to the growth of the global compound chocolate market. The rising health consciousness of people is also boosting the demand for chocolate products like organic and 100% natural compound chocolate products. The wide variety of products, less cost and favorable taste and flavor of compound chocolates are rocketing the market growth of the global compound chocolate market.
Wide application in bars and ice creams.
The wide range of products available and made from compound chocolate is one of the major factors driving the market growth of the global compound chocolate market. The flexibility and mixability showcased by compound chocolate are one of the reasons for the rising demand for compound chocolate in the global market. The approval of the FDA (Food and Drug Administration) of the United States for products like chocolate bars, candies, and bakery items derived from compound chocolate is accounting for the health benefits and safety offered by compound chocolate products. The pure vegetable oil used in compound chocolate is increasing the mixability and composure of compound chocolate making it efficient for the production of certain products like bakery items, ice creams, cakes, and candies. Compound chocolates are not given to tampering process, vegetable oils are used in compound chocolates compared to virgin cocoa chocolate. The absence of a tampering process in compound chocolate makes it less cost and price in the market. The wide variety of products offered by compound chocolate and less cost of compound chocolate is boosting the market growth of the global compound chocolate market.
North America region holds a major share in the market.
Geographically, the North American region is expected to hold a major share of the market in the global compound chocolate market. The rising demand for premium chocolate products and chocolates in the North American countries is driving the market growth of the North American compound chocolate market. The high chocolate consumption rate of North American countries is also accounting for the market share of the North American region in the global compound chocolate market.
|Market size value in 2020||US$14.576 billion|
|Growth Rate||CAGR during the forecast period|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Type, Form, Application, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Cargill, Incorporated, Barry Callebaut, Clasen Quality Coatings, Inc., Aalst Wilmer Pte Ltd, AAK, Santa Barbara Chocolate, Puratos Group, Archer Daniels Midland Company|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What is the size of the global compound chocolate market?
A1. The global compound chocolate market was valued at US$14.576 billion in 2020.
Q2. Who are the major players in the compound chocolate market?
A2. Prominent key market players in the global compound chocolate market include Cargill, Incorporated, Barry Callebaut, Clasen Quality Coatings, Inc., Aalst Wilmer Pte Ltd, AAK, and Santa Barbara Chocolate, among others.
Q3. How is the global compound chocolate market segmented?
A3. The compound chocolate market has been segmented by type, form, application, and geography.
Q4. What factors are anticipated to drive the compound chocolate market growth?
A4. The flexibility offered by compound chocolates in mixing with different products and giving immense taste and flavor accompanied with health benefits is boosting the compound chocolate market growth.
Q5. Which region holds the largest market share in the compound chocolate market?
A5. Geographically, the North American region is expected to hold the largest share of the compound chocolate market owing to the rising demand for premium chocolate products in the region.
1.1. Market Definition
1.2. Market Segmentation
2. Research Methodology
2.1. Research Data
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of End-Users
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. Global Compound Chocolate Market Analysis, by Type
6. Global Compound Chocolate Market Analysis, by Form
6.2. Chocolate chips/drops/Chunks
6.3. Chocolate Slab
6.4. Chocolate Coatings
6.5. Other Forms
7. Global Compound Chocolate Market Analysis, by Application
7.4. Frozen Desserts and Ice cream
7.7. Other Applications
8. Global Compound Chocolate Market Analysis, by Geography
8.2. North America
8.3. South America
8.5. Middle East and Africa
8.5.1. Saudi Arabia
8.6. Asia Pacific
8.6.4. South Korea
9. Competitive Environment and Analysis
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix
10. Company Profiles
10.1. Cargill, Incorporated
10.2. Barry Callebaut
10.3. Clasen Quality Coatings, Inc.
10.4. Aalst Wilmer Pte Ltd
10.6. Santa Barbara Chocolate
10.7. Puratos Group
10.8. Archer Daniels Midland Company
Clasen Quality Coatings, Inc.
Aalst Wilmer Pte Ltd
Santa Barbara Chocolate
Archer Daniels Midland Company
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