South America Compound Chocolate Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 5.73 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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South America Compound Chocolate Market Analysis
South America Compound Chocolate Market is projected to register an estimated CAGR of 5.73%, during the forecast period of 2020-2025.
- Increasing demand of low priced cocoa based products has increased the demand of compound chocolates in South America. The major market drivers include, increased price of cocoa butter, limited supply of cocoa products in the market, cheaper price of compound chocolate, and increasing demand in industrial and bakery applications is driving the market growth in the region.
- Many varieties of vegetable oils, like palm, shea, and mango kernel, if blended in proper proportions, can produce physical properties in the final products that are better than those obtained using cocoa butter. Manufacturers are, thus, trying different methods in order to enhance the sensory profile of compound chocolate.
South America Compound Chocolate Market Trends
This section covers the major market trends shaping the South America Compound Chocolate Market according to our research experts:
Versatile Application of Compound Chocolate in Bakery & Confectionery Segment
The compound chocolate are used in industrial applications of bakery and confectionery products, as direct chocolate end-consumers, and in ice creams. The increased demand of coatings & coverings for the bakery products has raised compound chocolates' popularity among bakery applications. The market is sub-segmented on the product type, as compound chocolate chips, coatings, slabs, and others. The chocolate chips are used in products, such as ice cream, biscuits, and cookies chocolate slabs are utilized commercially by manufactures for industrial applications, where it is melted and further processed into final product.
Compound Chocolate Companies Continue to Expand Presence in Chile and Brazil
Increased advancement in technology and the chocolate crisis in the market have provided a great opportunity to the compound chocolate market. Countries, such as Chile, Argentina, and Brazil are becoming very sophisticated in their tastes, which is influencing the application of compound chocolate in several segments of food & beverage industry, including bakery & confectionery.For instance, Barry Callebautopened a plant in Paine, nearly 45 km outside from Santiago, (Chile's capital) as part of its agreement with Chilean subsidiary of Argentinean confectioners Grupo Arcor. Thus, companies are expanding their presence in emerging markets in the region, such as Chile, Argentina, Uruguay, Paraguay, and Peru.
South America Compound Chocolate Industry Overview
South American compound chocolate market is primarily dominated by a few top players. The most active companies are - Cargill, Puratos, Unigra, Santa Barabar Chocolate, Blommer Chocolate Company, The Barry Callebaut Group, and Aalast Chocolate among others.
South America Compound Chocolate Market Leaders
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The Barry Callebaut Group
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Cargill Incorporated
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Puratos NV
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Santa Barbara Chocolate
*Disclaimer: Major Players sorted in no particular order
South America Compound Chocolate Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Deliverables
- 1.2 Study Assumptions
- 1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
- 3.1 Market Overview
4. MARKET DYNAMICS
- 4.1 Market Drivers
- 4.2 Market Restraints
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4.3 Porter's Five Force Analysis
- 4.3.1 Threat of New Entrants
- 4.3.2 Bargaining Power of Buyers/Consumers
- 4.3.3 Bargaining Power of Suppliers
- 4.3.4 Threat of Substitute Products
- 4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
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5.1 By Flavor
- 5.1.1 Dark
- 5.1.2 Milk
- 5.1.3 White
- 5.1.4 Other Flavors
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5.2 By Product
- 5.2.1 Chocolate Chips/Drops/Chunks
- 5.2.2 Chocolate Slab
- 5.2.3 Chocolate Coatings
- 5.2.4 Other Products
-
5.3 By Application
- 5.3.1 Compound Chocolates
- 5.3.2 Bakery
- 5.3.3 Confectionery
- 5.3.4 Ice Cream and Frozen Desserts
-
5.4 By Geography
- 5.4.1 Brazil
- 5.4.2 Argentina
- 5.4.3 Rest of South America
6. COMPETITIVE LANDSCAPE
- 6.1 Most Active Companies
- 6.2 Most Adopted Strategies
- 6.3 Market Share Analysis
-
6.4 Company Profiles
- 6.4.1 Cargill Incorporated
- 6.4.2 Puratos NV
- 6.4.3 The Barry Callebaut Group
- 6.4.4 Santa Barbara Chocolate
- 6.4.5 Blommer Chocolate Company
- 6.4.6 Aalst Chocolate Pte Ltd
- 6.4.7 Sephra
- 6.4.8 Unigra
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablitySouth America Compound Chocolate Industry Segmentation
The scope of the market includes South America compound chocolate market, segmented by Flavor, which includes dark, milk, white and other flavor. By product, it is segmented as chocolate chips/drops/chunks, chocolate slab, chocolate coatings and other products and by application, the market is segmented as compound chocolates, bakery, confectionery and ice cream and frozen desserts.
| By Flavor | Dark |
| Milk | |
| White | |
| Other Flavors | |
| By Product | Chocolate Chips/Drops/Chunks |
| Chocolate Slab | |
| Chocolate Coatings | |
| Other Products | |
| By Application | Compound Chocolates |
| Bakery | |
| Confectionery | |
| Ice Cream and Frozen Desserts | |
| By Geography | Brazil |
| Argentina | |
| Rest of South America |
South America Compound Chocolate Market Research FAQs
What is the current South America Compound Chocolate Market size?
The South America Compound Chocolate Market is projected to register a CAGR of 5.73% during the forecast period (2024-2029)
Who are the key players in South America Compound Chocolate Market?
The Barry Callebaut Group, Cargill Incorporated , Puratos NV and Santa Barbara Chocolate are the major companies operating in the South America Compound Chocolate Market.
What years does this South America Compound Chocolate Market cover?
The report covers the South America Compound Chocolate Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the South America Compound Chocolate Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
South America Compound Chocolate Industry Report
Statistics for the 2024 South America Compound Chocolate market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. South America Compound Chocolate analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
