The global compound chocolate market is estimated to reach USD 26.4 Billion in 2022 and is projected to surpass USD 50.5 Billion by 2032, registering a CAGR of 6.7% from 2022 to 2032. A compound chocolate is a mixture of various ingredients such as vegetable fats, sugars, cocoa powder, and others, used to impart chocolaty flavor to the desired food product.
Chocolate flavouring compounds are the base ingredients used to manufacture commercially consumed confectionery chocolates. On account of this, the compound chocolate market is expected to witness growth due to modifications in traditionally consumed chocolate flavouring compounds such as reduction of sugar and protein fortification.
| Attribute | Details |
|---|---|
| Compound Chocolate Market Size (2022E) | USD 26.4 Billion |
| Compound Chocolate Market Projected Size (2032F) | USD 50.5 Billion |
| Compound Chocolate Market Growth Rate (2022 to 2032) | 6.7% CAGR |
| Top 3 Countries' Market Share | 43.5% |
Growing preference for chocolate flavor is one of the drivers propelling the growth of the chocolate flavouring compounds market. Besides this, consumers’ palate for chocolate flavours and the availability of a range of chocolate-flavored protein and nutritional supplements will boost the market.
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According to Future Market Insights, the surging application of compound chocolate in bakeries & confectionery will support the growth of the compound chocolate market. However, the high cocoa bean prices might affect the sales in the market negatively.
Other factors such as legislation and strict regulations related to the presence of the excess amount of fat and sugar in the chocolate flavoring compounds are limiting sales, especially across Europe.
However, the emergence of retail stores which enable consumers to design and shape their own chocolate bars is becoming increasingly common. In addition, key players are adopting marketing strategies such as pairing up vegetables to increase their revenue.
Backed by these aforementioned factors, Future Market Insights projects the compound chocolate market to exhibit growth at 6.7% CAGR between 2022 and 2032 in comparison to the CAGR of 4.8% posted between 2017 and 2021.
France and Germany to dominate the European Compound Chocolate Market
According to FMI, France is expected to account for the maximum market share with over 24% of demand sales in the compound chocolate market. Sales in the France compound chocolate market are poised to offer an absolute $ opportunity for the upcoming decade.
Growth can be attributed to the growing import of chocolate, followed by Germany. European countries are known for having strong manufacturing facilities and a larger cocoa processing base in the region.
European chocolate manufacturers buy semi-finished products from processors or process cocoa beans to cater to the growing demand for such food products. On account of this, FMI predicts the market to witness impressive growth over the next few years.
The USA to Vanguard the Sales in North America Compound Chocolate Market
The compound chocolate market in the USA is predicted to continue showing an upward trend with rising demand for confectionery items and premium chocolate. Moreover, the adoption of healthier lifestyles is expected to drive the demand for dark, sugar-free, and organic chocolate.
Its pure cocoa-based nature with an attractive price is likely to create an absolute $ opportunity, improving the demand in the market during the forecast period (2022 to 2032).
Milk Compound Chocolate to Gain Traction in the Market
Milk chocolate has been showing increased consumption in the past few years owing to its wider applicability. It has various applications in chocolate-based confectionery items which can be attributed to its versatile texture and taste.
It has a creamy texture and mouthfeel which can be added to varied shakes, cakes, croissants, hot chocolate, and many other items. This is expected to increase the demand for milk chocolate in the near future.
Penetration of Online Platforms to Influence Growth in the Market
With the expansion of the e-commerce industry, it is gaining immense traction as a shopping medium. Hence, compound chocolate suppliers are looking forward to introducing their products on online portals for business expansion. Thus, the online channel is predicted to continue exhibiting high growth through the forecast period (2022 to 2032).
Some of the top compounds chocolate markets participants such as Nestle S.A., Mondelez International, ADM Company, Cargill Incorporated, Clover Hill Food Ingredients Ltd., and others are focusing on introducing and innovating a wide variety and flavors of products in order to attract a large number of customers and enhance brand loyalty.
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| Attribute | Details |
|---|---|
| Forecast Period | 2022 to 2032 |
| Historical Data Available for | 2017 to 2021 |
| Market Analysis | USD Billion for Value and MT for Volume |
| Key Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Oceania; and the Middle East & Africa |
| Key Countries Covered | USA, Canada, Brazil, Mexico, Chile, Peru, Germany, UK, Spain, Italy, France, Russia, Poland, China, India, Japan, Australia, New Zealand, GCC Countries, North Africa, South Africa, and Turkey |
| Key Segments Covered | Product Type, Form, Application, Distribution Channel, and Region |
| Key Companies Profiled | Clover Hill Food Ingredients Ltd.; Cargill Incorporated; ADM WILD Europe GmbH & Co.KG; Nestle S.A.; Wilmar International Limited; PURATOS; Shellz Overseas Pvt. Ltd.; INFORUM Group; Buhler AG; Barry Callebaut; Unigrà S.r.l.; Blommer Chocolate Company; CEMOI; HERZA Schokolade GmbH & Co. KG.; Clasen Quality Coatings, Inc.; Puratos Group; Mondelez International; Others |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, Drivers, Restraints, Opportunities and Threats Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The compound chocolate market is expected to reach a value of USD 26.4 Billion by 2022.
Compound chocolate consumption is expected to increase at a CAGR of around 6.7% over the forecast period (2022 to 2032).
Market players are opting for partnership, mergers and acquisitions, product innovation and production capacity expansion.
Top 10 companies of compound chocolate including Nestle S.A., Mondelez International, ADM Company, Cargill Incorporated, Clover Hill Food Ingredients Ltd., and others hold around 30-35% of the market share.
The USA, Germany, and France are the major countries driving demand for compound chocolate.
| Market Value for 2024 | USD 1.23 billion |
|---|---|
| Market Value for 2034 | USD 2.33 billion |
| Market CAGR (2024 to 2034) | 6.6% |
| Market Estimated Size in 2024 | USD 6.87 billion |
|---|---|
| Projected Market Value in 2034 | USD 12.86 billion |
| Value-based CAGR (2024 to 2034) | 8.7% |
| Market Value, 2023 | USD 1,233.9 million |
|---|---|
| Projected Market Value, 2033 | USD 3,814.2 million |
| Value-based CAGR, 2023 to 2033 | 11.9% |
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