Industrial Chocolate Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 12.50 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Europe |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Industrial Chocolate Market Analysis
The Industrial Chocolate market is projected to register a CAGR of 12.50% during the forecast period, 2022-2027.
Manufacturers of consumer chocolate goods use industrial chocolate as their primary raw ingredient. Cocoa ingredients such as cocoa liquor, cocoa butter, and cocoa powder are commonly utilized in the production of chocolate. Cocoa liquor is the primary raw ingredient used in the manufacture of chocolate. The goods are also widely used in the confectionary, beverage, and bakery industries. According to the Food Marketing Technology website, the trend for single-origin cocoa components is continuing to grow as customers satisfy their sweet tooth. There has been a 25% increase in chocolate launches with a single origin claim, creating a great opportunity for cocoa suppliers and chocolate producers.
The market participants are primarily driven by these trends to continue their R&D to provide cutting-edge products. For instance, in 2021, the new chocolate and compound production facility in Baramati, India, was opened by The Barry Callebaut Group, the foremost producer of premium chocolate and cocoa products worldwide. To meet the diverse needs of its clients-international food manufacturers, regional confectioneries, and semi-industrial bakeries and patisseries-the new facility and warehouse include an R&D lab and assembly lines that can produce chocolate and compound in varied delivery formats.
Industrial Chocolate Market Trends
This section covers the major market trends shaping the Industrial Chocolate Market according to our research experts:
Increasing Consumption of Dark Chocolates Owing to Health Benefits
Dark chocolate in particular contains potent antioxidants. Epicatechin, a flavonol, is one of the most advantageous. Plants contain substances called flavonols that reduce inflammation and guard against free radical-induced cell damage. More healthy flavonols are present in chocolate with a higher cocoa concentration.
Most of the advantages identified by various studies are connected to chocolate that contains at least 70% cacao. Research suggests sticking to dark chocolate with minimal processing and at least 70% cacao as a daily pleasure. Also, according to a study published in the journal Appetite, those who ate chocolate, including dark chocolate, at least once a week had a lower prevalence of diabetes and were at a lower risk of diabetes four to five years later. The study of 908 nondiabetic adults and 45 diabetics revealed that people who ate such chocolate less than once per week had twice the risk of diabetes as those who ate it more than once per week.
Owing to such benefits associated with dark chocolates, the consumers are inclining toward dark chocolates claimed products, and to cater to the demand the major end-user industries like confectionery, bakery industries are investing in their R&D and introducing chocolates and cookies with high cocoa concentration which in turn is increasing the demand of industrial chocolates and thereby boasting their market.
Asia-Pacific is the Fastest Growing Region
Asia's chocolate consumption is rapidly increasing, providing the mature industry with an appealing and largely untouched market. Furthermore, Asia has quickly assumed a significant role in chocolate production. Following Ghana and Ivory Coast, Indonesia has climbed to become the world's third-largest cocoa producer. Many corporations, including Mars in Vietnam and Cadbury in Singapore, have chocolate operations in the region. Many are also looking to expand their operations in Asia to meet the rising demand. For instance, in 2020, Cargill partnered with a local manufacturer in India to open its first chocolate manufacturing operation in Asia. The facility began operating in mid-2021 and initially produces 10,000 tons of chocolate compounds.
According to a NASDAQ article, cocoa demand is likely to rebound in 2022, driven by expansion in Asia. According to their study, cocoa bean processing in Asia is expected to increase to around 900,000 tonnes in 2022, up from around 820,000 tonnes the previous year, when supply interruption and lower consumption due to the COVID-19 epidemic curtailed demand. Also, according to the International Cocoa Organization (ICCO), bean processing in Asia is higher than it was before the pandemic, and Asia's second-quarter cocoa grind increased by 3.6% year on year to 228,895 tonnes, according to figures from the Cocoa Association of Asia.
Industrial Chocolate Industry Overview
The global industrial chocolate market is highly competitive owing to the presence of multiple regional and multinational companies offering a wide range of industrial chocolate and trying to maintain their leadership position in the market studied.
Major players in the market include Berry Callebaut, Cargill, Cemoi, Puratos, Fuji Oil Co. Ltd., holding a significant share of the market studied and embarking on business strategies including product innovations, partnerships, strengthening their hold over online and offline marketing, and mergers & acquisitions to expand their visibility and portfolio of offerings, thus, augmenting the growth of the market.
Industrial Chocolate Market Leaders
Fuji Oil Co. Ltd.
Cargill
Barry Callebaut
Guittard Chocolate Company
Puratos
*Disclaimer: Major Players sorted in no particular order
Industrial Chocolate Market News
In June 2022, Organic and fair-trade ingredients supplier PRONATEC started operations at its new 100% organic cocoa processing plant in Beringen, Switzerland. The facility, the first of its kind in Switzerland, produces organic cocoa mass, cocoa butter, and cocoa powder. The facility can process 15,000 tonnes/yr of cocoa beans acquired from small shareholder cooperatives.
In February 2022, Guan Chong Berhad, a Malaysian-owned cocoa maker, signed a contract with Clegg Food Projects to convert a former Philips Avent facility in Glemsford, Suffolk, into a cocoa and chocolate-producing factory.
In December 2021, an indigenous company, Johnvents Industries Limited launched a multi-billion-naira cocoa processing company in Akure, the Ondo State capital to boost the nation's export trade.
Industrial Chocolate Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Force Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Product Type
5.1.1 Cocoa Powder
5.1.2 Cocoa Liquor
5.1.3 Cocoa Butter
5.1.4 Compound Chocolate
5.2 Application
5.2.1 Bakery Products
5.2.2 Confectionary
5.2.3 Bakery Premixes
5.2.4 Beverages
5.2.5 Frozen Desserts and Ice Creams
5.2.6 Other Applications
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.1.4 Rest of North America
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Russia
5.3.2.5 Spain
5.3.2.6 Italy
5.3.2.7 Rest of Europe
5.3.3 Asia Pacific
5.3.3.1 India
5.3.3.2 China
5.3.3.3 Japan
5.3.3.4 Australia
5.3.3.5 Rest of Asia Pacific
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Middle East and Africa
5.3.5.1 South Africa
5.3.5.2 Saudi Arabia
5.3.5.3 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Berry Callebaut
6.3.2 Cargill
6.3.3 Guittard Chocolate Company
6.3.4 Puratos
6.3.5 Fuji Oil Co. Ltd.
6.3.6 Cemoi Chocolatier
6.3.7 Republica del Cacao
6.3.8 Kerry Group PLC
6.3.9 NATRA SA
6.3.10 Aalst Chocolate Pte Ltd.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. IMPACT OF COVID-19 ON THE MARKET
9. DISCLAIMER
Industrial Chocolate Industry Segmentation
Industry chocolate is the primary foremost ingredient required for the production of consumable chocolate or desserts which requires the application of varied kinds of chocolate. The global industrial chocolate market (henceforth referred to as the market studied) is segmented by product type, application, and geography. By product type, the market is segmented into Cocoa Powder, Cocoa Liquor, Cocoa Butter, and Compound Chocolate. Based on the application, the market studied is segmented into Bakery Products, Confectionary, Bakery Premixes, Beverages, Frozen Desserts and Ice creams, and Other Applications. Bakery Products are further subdivided into, cakes, biscuits, pastries, and other bakery products. It provides an analysis of emerging and established economies across the world, comprising North America, Europe, South America, Asia-Pacific, and the Middle East and Africa. For each segment, the market sizing and forecasts have been done based on value (in USD million).
| Product Type | |
| Cocoa Powder | |
| Cocoa Liquor | |
| Cocoa Butter | |
| Compound Chocolate |
| Application | |
| Bakery Products | |
| Confectionary | |
| Bakery Premixes | |
| Beverages | |
| Frozen Desserts and Ice Creams | |
| Other Applications |
| Geography | |||||||||
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Industrial Chocolate Market Research FAQs
What is the current Industrial Chocolate Market size?
The Industrial Chocolate Market is projected to register a CAGR of 12.5% during the forecast period (2024-2029)
Who are the key players in Industrial Chocolate Market?
Fuji Oil Co. Ltd. , Cargill, Barry Callebaut, Guittard Chocolate Company and Puratos are the major companies operating in the Industrial Chocolate Market.
Which is the fastest growing region in Industrial Chocolate Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Industrial Chocolate Market?
In 2024, the Europe accounts for the largest market share in Industrial Chocolate Market.
What years does this Industrial Chocolate Market cover?
The report covers the Industrial Chocolate Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Industrial Chocolate Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Industrial Chocolate Industry Report
Statistics for the 2024 Industrial Chocolate market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Industrial Chocolate analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
