Compound Chocolate Market to See High Growth in Upcoming Year by 2027, Fortune Business Insights
Theglobal realand compound chocolate market willderive growth from widespread product applications across severalconfectionaries. According to a report published by Fortune Business Insights,titled “Real and Compound Chocolate Market Size, Share & Industry Analysis,By Type (Real Chocolate and Compound Chocolate), Form (Chips, Slabs, Coatings,and Others), Application (Confectionery, Bakery, Dairy, and Frozen Products,Beverages, and Others), and Regional Forecasts, 2019 – 2026,” the market wasvalued at USD 24.25 Billion in 2018 and is projected to reach USD 35.62 billionby the end of 2026, exhibiting a CAGR of 4.97% in the forecast period(2019-2026).
Theprimary difference between real and compound chocolate is that real chocolateis made from cocoa butter and chocolate liquor whereas the compound form ismade from cocoa powder and vegetable oil. As real chocolate is made from cocoabutter, it needs to be tempered while melting. Real chocolate has better tasteand texture, as a result of which it is preferred over compound chocolate inexotic confectionaries. Compound chocolate is used in products where baking athigher temperatures is required. The growing demand for real and compoundchocolate in emerging as well as densely populated countries such as India,China, and Japan will have a direct impact on the growth of the global market.
Thereport segments the global market based on factors such as product types,applications, and form. Among these criteria, leading sub-segments havehighlighted based on extensive research methods. Additionally, the market hasbeen segmented based on regional demographics into Europe, South America, NorthAmerica, Asia Pacific, and the Middle East and Africa. The report offersinsights into the latest industry trends. Additionally, forecast values for themarket have been evaluated for the period of 2019-2026.
Afew of the prominent companies that are operating in the global real andcompound chocolate market include:
· BarryCallebaut AG
· FujiOil Company Limited
· TheHershey Company
Increasing Number ofCompany Mergers Will Aid Market Growth
Thereport encompasses several factors that have contributed to the growth of themarket in recent years. Due to massive demand for all forms of chocolate, themarket has witnessed several entrants. Additionally, companies that arecurrently operating in the market are engaged in adopting strategies that willhelp them generate sufficient revenues. Among several strategies that areadopted by major companies, Fortune Business Insights labels mergers andacquisitions as the activity that is being widely adopted by major companiesacross the world. In 2018, Fuji Oil Holding announced that it plans to acquireBlommerChocolate. Blommer is among the top five leading companies in NorthAmerica and Fuji’s latest acquisition will influence the growth of the global marketin a positive way.
Europe and NorthAmerica are the Leading Regions in the Global Market
Amongall regions, Europe holds a dominant share of the global market. The regionboasts a large cocoa processing base, which has emerged as the primary factor thathas influenced market growth. The growing demand for chocolate and their usesin several foods across the food and beverage industry has opened up a massive potential for market growth. Besides Europe, NorthAmerica has witnessed considerable growth in recent years. The real andcompound chocolate market in North America was valued at USD 5.46 Billion in2018 and is likely to increase further in the coming years.
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