Africa Compound Chocolate Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Africa Compound Chocolate Market is segmented By Type (Dark Chocolate, Milk Chocolate, and White Chocolate), By Form (Chocolate Chips/Drops/Chunks, Chocolate Slab, Chocolate Coatings, and Other Products), By Application (Bakery, Confectionery, Frozen Desserts, and Ice-Cream, Beverages, Cereals, and Others) and By Geography

Market Snapshot

africa compound chocolate market summary
Study Period: 2016 - 2026
Base Year: 2020
CAGR: 5.6 %

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Market Overview

The Africa Compound Chocolate market is projected to grow at a CAGR of 5.6% during the forecast period.

  • A primary factor driving the market for compound chocolate is its functionality at a lower price. It shows that the demand for compound chocolate is growing owing to the functional attributes of compound chocolate being a substitute of coverture or real chocolate at a lower price than the coverture chocolate.
  • With compound chocolates being a cheaper alternative due to the incorporation of vegetable oils as one of the ingredients over cocoa butter that is priced at a higher rate, the players are also investing in R&D to find other cheaper alternatives, such as shea butter, to replace cocoa butter in compound chocolates.

Scope of the report

The Africa compound chocolate market is segmented by type that includes dark chocolate, milk chocolate, and white chocolate. Based on form, the market is divided into chocolate chips/drops/chunks, chocolate slab, chocolate coatings, and other products. By application, the market is classified into the bakery, confectionery, frozen desserts, and ice-cream, beverages, cereals, and others. The study also involves the analysis of regions such as South Africa, Kenya, Nigeria and rest of Africa.

By Type
Dark Chocolate
Milk Chocolate
White Chocolate
By Form
Chocolate Chips/Drops/Chunk
Chocolate Slab
Chocolate Coatings
Other Products
By Application
Bakery
Confectionery
Frozen Desserts and Ice-Cream
Beverages
Cereals
Others
Geography
Africa
South Africa
Kenya
Nigeria
Rest of Africa

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Key Market Trends

Growing Demand for Chocolate Chips in Various Applications

The rise in popularity of compound chocolate is due to its application in a variety of application forms, including coatings, drizzles, chunks, and drops. Chocolate chips/drops/chunks can be used in cookies, pancakes, cakes, and various pastries. They are also found in many other retail food products, such as granola bars, ice cream, and trail mix, which is increasing the application of the same in these widely consumed product types. Unlike chocolate, compounds and inclusions may be colored. This not only helps to add flavor but also creates the opportunity for seasonal and limited-edition innovations.

Africa Compound Chocolate Market2

Increased Utilization in Bakery

Compound chocolate is the most commonly used chocolate in the baking industry today. Moreover, the main consumption trends within the bakery continue to be focused around concerns over healthy eating, the need for convenience, and the desire for variety. Therefore, compound chocolate provides the following characteristics needed by consumers. The shelf life of fresh baked goods enrobed with compound coating does not get affected because hard fat is used to adjust the melting point and carries enough seed to make necessary tempering. Since there is no cocoa butter (generally) present in compound chocolate, it offers cost savings, and it eliminates the time needed in tempering.

Africa Compound Chocolate Market2

Competitive Landscape

Africa compound chocolate market is consolidated with major players competing for the market share. The major players in the market are focusing on new product launches, expansion, mergers and acquisitions and partnerships to gain a competitive advantage in the market and therefore strengthening their hold in the market. The key players in the market are Cargill, Puratos, The Barry Callebaut Group, and Aalst Wilmar Pte Ltd among others.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions & Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

    1. 3.1 Market Overview

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Type

      1. 5.1.1 Dark Chocolate

      2. 5.1.2 Milk Chocolate

      3. 5.1.3 White Chocolate

    2. 5.2 By Form

      1. 5.2.1 Chocolate Chips/Drops/Chunk

      2. 5.2.2 Chocolate Slab

      3. 5.2.3 Chocolate Coatings

      4. 5.2.4 Other Products

    3. 5.3 By Application

      1. 5.3.1 Bakery

      2. 5.3.2 Confectionery

      3. 5.3.3 Frozen Desserts and Ice-Cream

      4. 5.3.4 Beverages

      5. 5.3.5 Cereals

      6. 5.3.6 Others

    4. 5.4 Geography

      1. 5.4.1 Africa

        1. 5.4.1.1 South Africa

        2. 5.4.1.2 Kenya

        3. 5.4.1.3 Nigeria

        4. 5.4.1.4 Rest of Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Active Companies

    2. 6.2 Most Adopted Strategies

    3. 6.3 Market Share Analysis

    4. 6.4 Company Profiles

      1. 6.4.1 Cargill, Incorporated

      2. 6.4.2 Puratos

      3. 6.4.3 The Barry Callebaut Group

      4. 6.4.4 Aalst Wilmar Pte Ltd

      5. 6.4.5 The Bühler Holding AG

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

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Frequently Asked Questions

The Africa Compound Chocolate Market market is studied from 2016 - 2026.

The Africa Compound Chocolate Market is growing at a CAGR of 5.6% over the next 5 years.

Cargill Incorporated, Puratos, The Barry Callebaut Group,  Aalst Wilmar Pte Ltd, The Bühler Holding AG are the major companies operating in Africa Compound Chocolate Market.

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