Market Size of North America Compound Chocolate Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 2.91 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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North America Compound Chocolate Market Analysis
The North American compound chocolate market is projected to register a CAGR of 2.91% during the forecast period.
- Compound chocolate has several technical advantages over pure cocoa-based chocolates, including its lower cost, easy manufacturing process, and the fact that it hardens without tempering. This makes it an ideal choice for food manufacturers in various segments, such as bakeries, confectionery, ice creams, and frozen desserts. Compound chocolate ingredients also provide suppliers with formulation flexibility, which enables bakers to be more innovative in their product development.
- There are a variety of options for vegetable fats used in compound chocolate, including palm, palm kernel, soy, coconut, and shea, allowing for a wide range of melt points and melting curves. Compound chocolate products may also provide a better sensory experience than chocolate in snacks and baked foods.
- In addition, the increasing consumption of chocolate products in the region due to their health benefits supports the growth of the compound chocolate market. Chocolate has been shown to potentially lower the risk of cancer and heart disease, while its main saturated fats do not increase cholesterol levels. Consuming chocolate also raises endorphins and serotonin levels in the brain, which can aid in maintaining calm and relaxation.
- Furthermore, manufacturers are offering efficient alternatives to cocoa butter, which is attracting businesses to incorporate compound chocolate into their products. Companies like AAK are offering various natural alternatives to cocoa butter that can make the processing line easier and provide the desired chocolate. Many players in the market are also offering vegetable fat solutions for chocolate and confectionery that can supplement or completely replace cocoa butter in recipes, providing the potential to tailor chocolates according to the needs of the market. Such factors are expected to further boost the market's growth during the forecast period.
