About Industrial Chocolate
Industrial chocolate is majorly used by manufacturers, bakers and chefs to create the finished chocolate products, such as ice cream, beverages and bakery and confectionery items. The Industrial Chocolate Production industry processes cocoa beans to manufacture cocoa products including cocoa powder, cocoa liquor, and cocoa butter. The market of the industrial chocolate is growing due to the rising consumption in the end user industry like bakery, confectionery, beverages, and frozen desserts, while changing consumer preferences can hinder the market
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
New product innovation and low calorie label claim are the main strategy adopted by the key player. Energy bars performed well in the past few years witnessing double-digit growth rate in snack bar market. Many chocolate players, such as Nestle are planning to launch premium chocolate in emerging countries Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Industrial Chocolate 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.
Mars (United States), Hershey (United States), Blommer Chocolate Company (United States), FUJI OIL (Japan), Cémoi (France), Foley's Candies LP (Canada), Olam (Singapore), Kerry Group (Republic of Ireland), Guittard (United States), Ghirardelli (United States), Alpezzi Chocolate (Mexico), Valrhona (France) and TCHO (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Cargill Incorporated (United States), Puratos (Belgium), Barry Callebaut (Switzerland), Nestle (Australia), Meiji Co. (Japan) and Ferrero Rocher (Italy).
Segmentation Overview
AMA Research has segmented the market of Global Industrial Chocolate market by Type (Milk Chocolates, White Chocolates and Dark Chocolates), Application (Chocolate Bars and Flavoring Ingredient) and Region.
On the basis of geography, the market of Industrial Chocolate 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). United States region held largest market share in the year 2023. If we see Market by Product Shape, the sub-segment i.e. Bar Chocolates will boost the Industrial Chocolate market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Chocolate type, the sub-segment i.e. Molded or Bar Chocolates Anode will boost the Industrial Chocolate market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Category, the sub-segment i.e. Premium Chocolates will boost the Industrial Chocolate market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Distribution Channel, the sub-segment i.e. Grocery & Mom n Pop Stores will boost the Industrial Chocolate market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Packaging, the sub-segment i.e. Flexible Packaging will boost the Industrial Chocolate market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Shifting consumers preference toward chocolate products, over traditional sweets
Market Growth Drivers:
Increasing demand for chocolate in several end-user industries like bakery, confectionery, beverages, and frozen desserts, Increasing premiumization as a result of increasing disposable income and Demand for premium chocolate is increasing driven by rising consumer interest in the foreign brand
Challenges:
Inflationary pressure on prices of cocoa and the continuous demand for product innovations and Change in consumer preference
Restraints:
Growing market of chocolate substitute and High price of raw materials and limited cocoa producing region
Opportunities:
Companies in this market are increasingly promoting product lines that are free of trans fats, saturated fat, and artificial flavors and sweeteners in favor of ingredients such as organic wheat flour, cane sugar, rice syrup, and corn starch
Market Leaders and their expansionary development strategies
In December 2022, The Ferrero Group acquired Wells, including its operations and renowned ice cream brands such as Blue Bunny®, Blue Ribbon Classics®, Bomb Pop®, and Halo Top®. This acquisition aligns with Ferrero's strategic objectives for expanding in the ice cream category, while also supporting Wells' vision for accelerated growth.
In February 2023, Dharampal Satyapal Group (DS Group) collaborated with Laderach, a prestigious Swiss chocolate brand. This strategic partnership is expected to enhance DS Group's presence in the confectionery segment, solidifying its position in the market.
Key Target Audience
Industrial Chocolate Manufacturer, Chocolate Subcomponent manufacturer, Channel partners, Industry association, Downstream vendors, Government and investment communities and Research organizations and associations
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.