What is Global Industrial Chocolate Market?
The Global Industrial Chocolate Market is a vast and dynamic sector that encompasses the production and distribution of various types of industrial chocolate worldwide. Industrial chocolate is a key ingredient used in the food and confectionery industry, primarily in the production of chocolate bars, candies, and other chocolate-based products. This market is driven by several factors, including the increasing demand for premium and organic chocolate products, the growing influence of western lifestyle and eating habits, and the rising disposable income of consumers in emerging economies. However, the market also faces several challenges, such as the fluctuating prices of cocoa, the primary raw material for chocolate, and the increasing health consciousness among consumers. Despite these challenges, the Global Industrial Chocolate Market continues to grow and evolve, offering numerous opportunities for manufacturers, suppliers, and other stakeholders in the market.
Dark Chocolate, Others in the Global Industrial Chocolate Market:
Dark Chocolate and Others are two significant segments of the Global Industrial Chocolate Market. Dark chocolate, which contains a higher percentage of cocoa, is known for its rich taste and potential health benefits. It is widely used in a variety of products, including chocolate bars, desserts, and beverages. On the other hand, the 'Others' segment includes various types of industrial chocolate, such as milk chocolate and white chocolate. These types of chocolate are used in a wide range of applications, from confectionery products to bakery items, and even in the cosmetics industry. The demand for these types of chocolate is driven by factors such as consumer preference, product innovation, and the growing trend of gourmet and artisanal chocolates.
Chocolate Bars, Flavoring Ingredient in the Global Industrial Chocolate Market:
The Global Industrial Chocolate Market plays a crucial role in the production of Chocolate Bars and as a Flavoring Ingredient. Chocolate bars, one of the most popular and widely consumed forms of chocolate, are primarily made using industrial chocolate. The quality, taste, and texture of the chocolate bars greatly depend on the type and quality of industrial chocolate used. Similarly, industrial chocolate is also a key flavoring ingredient used in a variety of food products. It is used to enhance the taste and aroma of products, ranging from baked goods and desserts to beverages and even savory dishes. The use of industrial chocolate as a flavoring ingredient is driven by the growing consumer demand for innovative and diverse flavors in food products.
Global Industrial Chocolate Market Outlook:
The Global Industrial Chocolate Market, which was valued at US$ 60530 million in 2022, is expected to reach a value of US$ 83240 million by 2029. This represents a Compound Annual Growth Rate (CAGR) of 4.6% during the forecast period from 2023 to 2029. The market is dominated by the top four manufacturers, who collectively hold a market share of over 45%. In terms of product types, Dark Chocolate is the largest segment in the market, accounting for about 90% of the total market share. This dominance of Dark Chocolate can be attributed to its rich taste, potential health benefits, and wide range of applications in the food and confectionery industry.
| Report Metric | Details |
| Report Name | Industrial Chocolate Market |
| Accounted market size in 2022 | US$ 60530 in million |
| Forecasted market size in 2029 | US$ 83240 million |
| CAGR | 4.6% |
| Base Year | 2022 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Consumption by Region |
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| By Company | Barry Callebaut, Cargill, Nestle SA, Mars, Hershey, Blommer Chocolate Company, FUJI OIL, Puratos, Cémoi, Irca, Foley's Candies LP, Olam, Kerry Group, Guittard, Ferrero, Ghirardelli, Alpezzi Chocolate, Valrhona, Republica Del Cacao, TCHO |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
