About industrial chocolate
Industrial chocolate is produced primarily from cocoa liquor/paste and butter, which are combined with other ingredients such as sugar and powdered milk, then refined and conched. The formulations, however, vary depending on their application. It is essentially used in-house by vertically integrated manufacturers or sold to third parties, to create finished chocolate products. The primary consumers are food service providers such as chefs and artisans and food manufacturers who create end-consumer products such as chocolate confectionary, bakery products, ice-cream, and beverages.
Technavio's analysts forecast the global industrial chocolate market to grow at a CAGR of 2.43% over the period 2014-2019.
Covered in this report
In this report, Technavio covers the present scenario and growth prospects of the global industrial chocolate market for the period 2015-2019. To calculate the market size, we consider revenue generated from the sale of industrial chocolate worldwide.
Technavio's report, Global Industrial Chocolate Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Americas, APAC, Europe, and MEA; it also covers the landscape of the global industrial chocolate market and its growth prospects in the coming years. The report includes a discussion on the key vendors operating in this market.
Technavio Announces the Publication of its Research Report – Global Industrial Chocolate Market 2015-2019
Technavio recognizes the following companies as the key players in the Global Industrial Chocolate Market: Barry Callebaut, Cargill, Blommer and ADM
Other Prominent Vendors in the market are: CÉMOI, Clasen Quality Coatings, Fuji Oil, Guittard, IRCA, Mondelēz, Nestlé, Petra Foods, and Puratos.
Commenting on the report, an analyst from Technavio’s team said: “The demand for ethically sourced products is growing. This has resulted in the need to attain a certification for a broad range of agricultural commodities. Fairtrade, owing to its quality standards, has gained prime importance in the market, especially in Europe.”
According to the report, considering that chocolate is a universal flavor, the market has a growing scope of applications. Industrial chocolate makers have created chocolate products and formulations across a variety of functionalities, flavors, and price points. There is also increasing prevalence for chocolates with customized texture, structure, and sensory attributes. These have given more leeway to players present in the food service and manufacturing industry to integrate chocolate into their products.
Further, the report states that Strong chocolate demand, especially in APAC, and a nascent economic recovery in developed countries has led to a rise in cocoa prices. This has also increased the cost of ingredients such as cocoa butter, which is derived from the cocoa bean. Chocolate manufacturers are forced to pass down the rise in cost of production to the consumer either by reducing the size of chocolates or by raising prices.
Barry Callebaut, Cargill, Blommer, ADM, CÉMOI, Clasen Quality Coatings, Fuji Oil, Guittard, IRCA, Mondelēz, Nestlé, Petra Foods, Puratos.
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