Market Size of Industrial Chocolate Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 12.50 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Europe |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Industrial Chocolate Market Analysis
The Industrial Chocolate market is projected to register a CAGR of 12.50% during the forecast period, 2022-2027.
Manufacturers of consumer chocolate goods use industrial chocolate as their primary raw ingredient. Cocoa ingredients such as cocoa liquor, cocoa butter, and cocoa powder are commonly utilized in the production of chocolate. Cocoa liquor is the primary raw ingredient used in the manufacture of chocolate. The goods are also widely used in the confectionary, beverage, and bakery industries. According to the Food Marketing Technology website, the trend for single-origin cocoa components is continuing to grow as customers satisfy their sweet tooth. There has been a 25% increase in chocolate launches with a single origin claim, creating a great opportunity for cocoa suppliers and chocolate producers.
The market participants are primarily driven by these trends to continue their R&D to provide cutting-edge products. For instance, in 2021, the new chocolate and compound production facility in Baramati, India, was opened by The Barry Callebaut Group, the foremost producer of premium chocolate and cocoa products worldwide. To meet the diverse needs of its clients-international food manufacturers, regional confectioneries, and semi-industrial bakeries and patisseries-the new facility and warehouse include an R&D lab and assembly lines that can produce chocolate and compound in varied delivery formats.
Industrial Chocolate Industry Segmentation
Industry chocolate is the primary foremost ingredient required for the production of consumable chocolate or desserts which requires the application of varied kinds of chocolate. The global industrial chocolate market (henceforth referred to as the market studied) is segmented by product type, application, and geography. By product type, the market is segmented into Cocoa Powder, Cocoa Liquor, Cocoa Butter, and Compound Chocolate. Based on the application, the market studied is segmented into Bakery Products, Confectionary, Bakery Premixes, Beverages, Frozen Desserts and Ice creams, and Other Applications. Bakery Products are further subdivided into, cakes, biscuits, pastries, and other bakery products. It provides an analysis of emerging and established economies across the world, comprising North America, Europe, South America, Asia-Pacific, and the Middle East and Africa. For each segment, the market sizing and forecasts have been done based on value (in USD million).
| Product Type | |
| Cocoa Powder | |
| Cocoa Liquor | |
| Cocoa Butter | |
| Compound Chocolate |
| Application | |
| Bakery Products | |
| Confectionary | |
| Bakery Premixes | |
| Beverages | |
| Frozen Desserts and Ice Creams | |
| Other Applications |
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Industrial Chocolate Market Size Summary
The industrial chocolate market is experiencing significant growth, driven by its essential role as a primary raw ingredient in the production of consumer chocolate goods. This market is characterized by the use of cocoa ingredients such as cocoa liquor, cocoa butter, and cocoa powder, which are integral to the confectionery, beverage, and bakery industries. The trend towards single-origin cocoa components is gaining momentum, offering substantial opportunities for cocoa suppliers and chocolate producers. Companies are investing in research and development to innovate and meet the evolving consumer preferences, as evidenced by the establishment of new production facilities with advanced R&D capabilities. The health benefits associated with dark chocolate, particularly those with high cocoa concentrations, are influencing consumer choices and prompting major end-user industries to enhance their product offerings, thereby boosting the demand for industrial chocolates.
Asia is emerging as a pivotal region in the industrial chocolate market, with rapidly increasing consumption and production capabilities. The region's role in chocolate production is expanding, with countries like Indonesia becoming significant cocoa producers. This growth is attracting investments from major global companies looking to capitalize on the rising demand in Asia. The competitive landscape of the global industrial chocolate market is marked by the presence of numerous regional and multinational companies, including key players like Barry Callebaut, Cargill, and Puratos. These companies are employing strategies such as product innovations, partnerships, and mergers and acquisitions to strengthen their market position and expand their product portfolios. The market's expansion is further supported by new facilities and processing plants, which are enhancing the supply chain and increasing the availability of industrial chocolate products.
Industrial Chocolate Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Porter's Five Force Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Product Type
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2.1.1 Cocoa Powder
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2.1.2 Cocoa Liquor
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2.1.3 Cocoa Butter
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2.1.4 Compound Chocolate
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2.2 Application
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2.2.1 Bakery Products
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2.2.2 Confectionary
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2.2.3 Bakery Premixes
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2.2.4 Beverages
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2.2.5 Frozen Desserts and Ice Creams
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2.2.6 Other Applications
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2.3 Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Mexico
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2.3.1.4 Rest of North America
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2.3.2 Europe
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2.3.2.1 Germany
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2.3.2.2 United Kingdom
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2.3.2.3 France
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2.3.2.4 Russia
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2.3.2.5 Spain
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2.3.2.6 Italy
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2.3.2.7 Rest of Europe
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2.3.3 Asia Pacific
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2.3.3.1 India
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2.3.3.2 China
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2.3.3.3 Japan
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2.3.3.4 Australia
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2.3.3.5 Rest of Asia Pacific
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Rest of South America
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2.3.5 Middle East and Africa
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2.3.5.1 South Africa
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2.3.5.2 Saudi Arabia
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2.3.5.3 Rest of Middle East and Africa
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Industrial Chocolate Market Size FAQs
What is the current Industrial Chocolate Market size?
The Industrial Chocolate Market is projected to register a CAGR of 12.5% during the forecast period (2024-2029)
Who are the key players in Industrial Chocolate Market?
Fuji Oil Co. Ltd. , Cargill, Barry Callebaut, Guittard Chocolate Company and Puratos are the major companies operating in the Industrial Chocolate Market.
