About Chocolate Powder
Chocolate powder is predominantly used to manufacture chocolate confectionaries and Chocolate paste, which is used to produce desserts. Cocoa butter is extensively used in pharmaceutical and cosmetic industries to manufacture skincare products. Cocoa liquor can be used as a product on its own or can be mixed with other products to make confectioneries. increasing adoption of sustainable cocoa cultivation, and growing use of processed products in the food & beverage sector. Consumer preferences have compelled manufacturers of food items and beverages to increase the uptake of chocolate powder and make things chocolatier than before.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
The companies are exploring the market by adopting expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions across the globe to avail competitive advantage through combined collaborations. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Chocolate Powder market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Cargill (United States), Barry Callebaut (Switzerland), Archer Daniels Midland (United States), Nestle S.A (Switzerland), Mars (United States), PepsiCo (United States), Mondelez (United States), Gatorade (United States) and GlaxoSmithKline (United Kingdom) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Kanegrade (United Kingdom) and ProBlends (United States).
Segmentation Overview
AMA Research has segmented the market of Global Chocolate Powder market by Type (Milk Chocolate Powder, Dark Chocolate Powder and White Chocolate Powder), Application (Confectionery, Food & Beverage, Cosmetics and Pharmaceuticals) and Region.
On the basis of geography, the market of Chocolate Powder has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. Europe, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by Sales Channel, the sub-segment i.e. Online Sales Channel will boost the Chocolate Powder market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Process, the sub-segment i.e. Natural Powder will boost the Chocolate Powder market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
The increase in demand for chocolate and its related products such as milk chocolate, sweet chocolate, and dark chocolate, along with aggressive advertisements by manufacturers for brand recognition
Market Growth Drivers:
The rise in awareness of health benefits regarding the consumption of cocoa-rich products and The health benefits to the human body include decreased hypertension, reduced chronic fatigue syndrome, protection against sunburn, and other
Challenges:
Increase in Counterfeit Products and Changing Consumer Preferences
Restraints:
Excess Dependency on West African Countries for Cocoa Supply and Low Growth Rates in Major Markets
Opportunities:
Low Penetration Rate in Developing Countries and Use of Chocolates As A Functional Food
Market Leaders and their expansionary development strategies
In February 2019, Olam announces acquisition of Indonesia’s largest cocoa processor, BT Cocoa, to capitalise on Asia’s trajectory to become the largest global consumer of cocoa powder.
In July 2022, Lil'Goodness launches India's first Prebiotic Cocoa Powder Lil'Goodness launches India's first Prebiotic Cocoa Powder.
Key Target Audience
Chocolate Powder Manufacturer, Suppliers, Distributors, Government Regulatory Bodies, Private Research Organizations, Government Research Organizations and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.