Global Industrial Chocolate Market:
About this market
Technavio’s industrial chocolate market analysis considers sales from both confectionery, biscuits and bakery products, dairy and desserts, ice creams and frozen items, and cereals and other industrial chocolate applications. Our analysis also considers the sales of industrial chocolate in Europe, North America, South America, and MEA. In 2018, the confectionery segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as rising demand for industrial chocolate from end-users will play a significant role in the confectionery segment to maintain its market position. Also, our global industrial chocolate market report looks at factors such as growing consumer awareness about the health benefits of dark chocolate, rising demand for ruby chocolates, and technological innovations in the industrial chocolate supply chain. However, fluctuations in the prices of cocoa and sugar, stringent regulations regarding quality of industrial chocolate, and product recall of chocolate at various levels of the supply chain may hamper the growth of the industrial chocolate industry over the forecast period.
Global Industrial Chocolate Market: Overview
Technological innovations in industrial chocolate supply chain
Recent technological innovations in industrial chocolate supply chain are blockchain and traceable cocoa. Industrial chocolate is prone to contamination during logistics and warehousing. Transparency in logistics can be enhanced by the introduction of blockchain technology, which helps in tracking the information at each checkpoint from harvesting to placement in shops improving food traceability and assuring food safety. These technologies will help chocolate manufacturers to build strong trust among customers at different levels of value chain leading to the expansion of the global industrial chocolate market at a CAGR of almost 5% during the forecast period.
The growing popularity of clean-label chocolate
The clean label refers to the simplification of the chocolate manufacturing process by using as few ingredients as possible. This is leading the vendors to expand their product lines to include organic, low-carb, non-genetically modified organism (GMO), gluten-free, and vegetable-based alternatives as consumer seek healthier options. Owing to the change in consumer preference, the demand for clean-label chocolates will increase. This growing popularity is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global industrial chocolate market during the forecast period 2019-2023, click here.
With the presence of a few major players, the global industrial chocolate market is concentrated. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of few leading industrial chocolate manufacturers, that include Barry Callebaut AG, Cargill Inc., Cemoi Group, Clasen Quality Coatings Inc., Fuji Oil Co. Ltd., Mars Inc., Mondelēz International Inc., NATRA SA, Nestlé SA, The Hershey Co.
Also, the industrial chocolate market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
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