Global industrial chocolate market to reach $64.3 billion by 2026

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SAN FRANCISCO , April 18, 2022 /PRNewswire/ — New market research published by Global Industry Analysts Inc., (GIA), the leading market research firm, today released its report titled “Industrial Chocolate – Global Market Trajectory and Analysis”. The report presents new insights into the opportunities and challenges in a significantly transformed post COVID-19 market.

Global industrial chocolate market to reach $64.3 billion by 2026

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Editing: ten; Published: February 2022
Executive Pool: 3353
Companies: 50 – Players covered include Aalst Chocolate Pte Ltd. ; Barry Callebaut SA; The Campco Ltd.; Cargill, Inc.; CEMOI Group; Clasen Quality Chocolate, Inc.; Ferrero SpA; Foleys Candy LP; Fuji Oil Co.Ltd. ; Guittard chocolate company; The Hershey Company; Lotus Chocolate Co. Ltd. ; Mars Inc.; Mondelez International, Inc.; NATRA S.A.; Nestlé SA (Swiss). and others.
Cover: All major geographies and key segments
segments: End use (confectionery, cookies and bakery products, dairy products and desserts, ice cream and frozen products, cereals, other end uses)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; UK; Spain; Russia; and rest of Europe); Asia Pacific (Australia; India; South Korea; and rest of Asia Pacific); Latin America (Argentina; Brazil; Mexico; and rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and rest of Middle East); and Africa.

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ABSTRACT-

Global industrial chocolate market to reach $64.3 billion by 2026

Chocolate is a main ingredient in various food products such as candy bars, milkshakes, cereals and cookies. Industrial chocolate processed from cocoa beans is primarily used as an ingredient by chocolate confectionery manufacturers, bakers, dairy beverage producers, chefs and other food service providers to create finished chocolate products such as bakery products, drinks and ice cream, and chocolate-based confectionery products. Cocoa by-products derived from the processing of cocoa beans include cocoa butter, cocoa liquor, and cocoa powder. Cocoa products are mixed in varying amounts with butter, milk powder and other ingredients to create different types of chocolate such as milk chocolate, white chocolate and plain dark chocolate. Industrial chocolate is usually produced in bulk to meet the demands of the high demand for chocolate-related products. The main components of industrial chocolate include 54% cocoa butter, 11.5% protein, 10% organic acids and flavorings, 9% cellulose, 6% tannic acids and colorants, 5% d water, 2.6% salts, 1% sugars and 0.2% caffeine. . Industrial chocolate mix differs according to different applications. The chocolate manufacturing process begins with the harvesting and refining of cocoa beans which are shipped to the manufacturer for further processing into different chocolate products. Upon arriving at the manufacturing plant, other processing steps undertaken include cleaning the raw cocoa beans, roasting and winnowing, grinding the cocoa nibs, separating the cocoa from the cocoa butter, adding other ingredients, conching, heating and cooling.

Amid COVID-19 Crisis, Global Industrial Chocolate Market Estimated at US$54.6 billion in 2022, is expected to reach a revised size of US$64.3 billion by 2026, registering a compound annual growth rate (CAGR) of 4.3% over the analysis period. United States represents the largest regional market for industrial chocolate and is expected to reach US$13.9 billion by 2026. China is expected to spearhead the growth and become the fastest growing regional market with a CAGR of 6.4% over the analysis period.

The market has seen robust growth and is poised to continue its growth trend. The mix of factors driving the growth of the market include increasing demand for sugar-free and organic chocolates, increasing demand for chocolate flavored snacks for professionals and young people on the go, introduction of several new confectionery products, and innovations in the manufacture of chocolate by chocolate manufacturers to cope with changes in consumption patterns and lifestyles. Market growth is also attributed to the growing preference for convenient and healthier breakfast options such as chocolate-based energy bars, yogurts, smoothies, and breakfast sandwiches. There is also a growing demand for organic products over synthetic colored products. While enjoying the taste of chocolates, consumers prefer products that also provide health benefits. Another notable trend is the growing demand for pure, high-quality dark chocolates. As dark chocolates are made up of a high amount of antioxidants and low in sugar, they provide superior health benefits than regular candies. Chocolate’s indulgent and premium attributes, in addition to its health-promoting properties due to the presence of natural flavanols and antioxidants in cocoa beans, contribute to its unique position in the food industry.

Despite well-established growth drivers, some restraining factors have emerged as major challenges for the industrial chocolate market lately. People looking for healthy alternatives to chocolate products, volatile cocoa and sugar prices, strict industrial chocolate quality regulations and recall of chocolate at different levels of the supply chain are some of the major challenges hampering the growth of the market. The introduction of sweeteners to replace sugar is also becoming a major challenge for chocolate manufacturers, as higher quality sweeteners are required to provide a similar taste to sugar. Increased health awareness coupled with increasing number of obese and diabetic people are found to be other major factors hindering the growth of the market. The supply of premium cocoa is another major concern of chocolate manufacturers.

Europe dominates the industrial chocolate market. The region is a leader in the production, consumption and export of industrial chocolate. Additionally, the growing penchant for region-specific ingredients is driving the growth of the European industrial chocolate market. The United States represents the other major market for the industrial chocolate market, behind Europe. Trends influencing the industrial chocolate market in the United States include the growth of veganism, growing preference for products enriched with protein and fiber, and growing demand for dairy-free chocolates. Developing regions such as China, Asia Pacific (excluding China and Japan), and Latin America ranks among the most dynamic regional markets for industrial chocolate. Growing consumption of chocolate and chocolate-based products, increasing disposable incomes, product and packaging innovations, and demand for higher-end products with health benefits are the major drivers for the growth of the Chinese industrial chocolate market. After

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Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher, the only influencer-focused market research company in the world. Proudly serving over 42,000 clients in 36 countries, GIA has been recognized for its accurate forecasting of markets and industries for over 33 years.

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