Africa Compound Chocolate Market Size

Africa Compound Chocolate Market Analysis

The Africa Compound Chocolate Market size is estimated at USD 1.23 billion in 2024, and is expected to reach USD 1.61 billion by 2029, growing at a CAGR of 5.53% during the forecast period (2024-2029).

Consumption of confectionery products like chocolates, assortment boxes, and other chocolate products is increasing in the region owing to increasing disposable income and increasing innovation. The millennial population in the region is more attracted to the consumption of different types and flavors of chocolates. According to United States Department of Agriculture data from 2021, Morocco imported USD 79 trillion worth of chocolate from the world. The demand for compound chocolate is growing among manufacturers owing to its application in different food products like bakeries, icecreams, frozen desserts, chocolate beverages, and many more.

Compound chocolate like dark chocolate is used in different bakery products like cakes and pastries as toppings or as the main flavor ingredient. Also, dark chocolate products like choco chips and choco thins are used as decorating ingredients in frozen desserts and icecreams. The market players are preparing new compound chocolate products from good quality cocoa in order to have better consistancy and taste in the products. Additionally, the demand for compound chocolate is increasing among manufacturers due to its low cost and use of vegetable oils in it instead of cocoa butter which makes the products look shinier and attractive. Over the medium term, the demand for compund chocolate is expected to increase owing to the increasing consumption of chocolate products among consumers and product innovation in the market.