Research reveals global compound chocolate market set for rise to $42 billion by 2030
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The global compound chocolate market has been valued at $24 billion in 2021, and is set to rise notably, to $42.3 billion by 2030, rising annually by 6.5% according to analysis from Verified Market Research, reports Neill Barston.
In its latest study, the group examined market segments and explored some of the largest players in an international market which forms a critical element of the confectionery sector’s core supplies.
As the study notes, compound chocolate is a confection made from cocoa, vegetable fat, and sweeteners. It contains cocoa butter equivalent (CBE) or a substitute for cocoa butter (CBS). At room temperature, in this form it is said to use less expensive hard vegetable fats such as palm kernel oil and coconut oil. It is a less expensive alternative to real chocolate, which contains costly cocoa butter.
Furthermore, the research business explained that Increasing demand for compound chocolate in industrial & bakery applications due to the technical advantages of non-requirement of tempering and an easy manufacturing process is expected to drive the Compound Chocolate Market over the predicted years. Moreover, an increased price of cocoa butter, a limited supply of cocoa products in the market, and the lower price of compound chocolate expect a boost to the market in the coming years. Furthermore, new product launches, mergers & acquisitions, and partnerships are also expected to fuel market growth.
For instance, in August 2018, Barry Callebaut Group launched its range of premium couverture chocolates and compounds under the Van Houten Professional brand in India. There are some limitations and difficulties that may prevent the market from expanding. The growing obesity epidemic globally is forcing consumers to cut down on their intake of chocolates, confectionery, and bakery products. Also, stringent regulations might stagnate market growth.
Examining the main players in the market, its latest report listed Clasen Quality Chocolate, Cargill, Aalst Wilmar Pte Ltd, Archer Daniels Midland Company, Blommer Chocolate Company, Flanders Filings & Compounds (backed by Fuji Oil Europe), Sephra, and The Barry Callebaut Group, as the largest in the segment.
Verified Market Research has narrowed down the available data using primary sources to validate the data and use it in compiling a full-fledged market research study. The report contains a quantitative and qualitative estimation of market elements that interests the client. The “Global Compound Chocolate Market” is mainly bifurcated into sub-segments which can provide classified data regarding the latest trends in the market.
