Real and Compound Chocolate Market Overview
The latest studies conducted by Market Research Future (MRFR) propose that the Real and Compound Chocolate Market is slated to touch the valuation of USD 136.99 billion by 2023. The studies also indicate that the real and compound chocolate market will be growing at a rate of 2.11% and 2.81% respectively.
Real and Compound Chocolate Market Drivers and Key Barriers
Cocoa butter replacers are derived from vegetable oils which are themselves processed fat molecules. These processed fat molecules are uniform in nature and therefore, do not require any tempering. At a global level, real chocolate is generally processed and then packaged mainly for direct artisans and consumers. On the other hand, compound chocolates are primarily processed and then packaged for industrial use, confectioneries, bakeries, among others. On that note, new product developments coupled with creative packaging is resulting in the lavish growth of the global real and compound chocolate industry report.
Furthermore, with the drastic improvement in technology, including the processing of chocolate bars and harvesting of cocoa beans, the global market is expected to have a highly gainful run in the coming years. In addition, the growing emphasis on the marketing of products by noteworthy vendors is proving to be instrumental in the real and compound chocolate market size.
The sale of compound chocolate is rising at a rapid pace on account of its lower cost. Ingredients like palm oil, coconut oil, rapeseed oil, cottonseed oil, and soybean oil are considered more pocket-friendly than cocoa butter. Also, substances, including vegetable oil, are replacing cocoa butter for the production of compound chocolate.
Real and Compound Chocolate Market Segmentation
The report states that the global COVID-19 analysis on real and compound chocolate market report has been segmented on the basis of type and application.
The market, depending on the type, can be categorized into real chocolate and compound chocolate. Real chocolate is further segmented into white, dark and milk chocolate, whereas compound chocolate is sub-segmented into dark, white, milk and others. Among these, the milk chocolates currently rule the global market based on its increasing use for the preparation of beverages and food products. Furthermore, dark chocolates are noting tremendous growth as well, owing to a wide host of health benefits associated with its consumption.
Application-based segments in the global real and compound chocolate market share include spreads, seasoning, syrups, desserts, confectionary and bakery. Here, seasonings control the bigger market share with the growing consumption of exotic food products across the globe.
Real and Compound Chocolate Market Leading Players
The leading players in the global real & compound chocolate market include Republica del cacao (South America), Barry Callebaut AG (Switzerland), Mars Inc. (U.S.), Aalst Chocolate Pte. Ltd. (Singapore), Nestle S.A. (Switzerland), Lindt & Sprüngli SpA (Italy), Foley’s Candies Ltd. (Canada), Beryl’s Chocolate & Confectionery Sdn. Bhd.(Malaysia), PURATOS Group NV (Belgium), Blommer Chocolate Company (U.S.), Alpezzi Chocolate (Mexico), Valrhona Inc. (France), TCHO (U.S.), Fujian Yake Food Co., Ltd. (China), Ferrero SPA (Italy), Puratos Group NV (Belgium), The Hershey Co. (U.S.), Guittard Chocolate Company, Meiji Co., Ltd. (Japan), Mondelez International, Inc. (U.S.), Ghirardelli Chocolate Company (U.S.), Barry Callebaut AG (Switzerland), and others.
Also Read: http://www.marketwatch.com/press-release/railway-management-system-market-key-findings-regional-study-covid—19-impact-outbreak-emerging-technologies-business-trends-industry-segments-and-future-prospects-2021-01-11
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