The natural and organic trend in the F&B sector is likely to be the prime influencer of the chocolate flavoring compounds market. Manufacturers in the chocolate flavoring compounds market are actively engaged in introducing organic or natural chocolate flavoring compounds. In addition, demand for chocolate flavoring compounds is on the rise owing to the presence of high polyphenol levels in the cocoa or chocolate that are nutritionally beneficial. In addition, several epidemiological studies have observed that intake of dark chocolate rich in polyphenol can prevent heart-related diseases, in turn increasing importance of chocolate flavoring compounds. Dissemination of knowledge regarding health benefits of chocolate is likely to bode well for the chocolate flavoring compounds market in the near future.
Growing appetite for chocolate flavor and increasing popularity of chocolates is another driver propelling the growth of the chocolate flavoring compounds market. In particular, the flourishing supplement industry has identified consumers’ palate for chocolate flavors and have introduced a range of chocolate-flavored protein and nutritional supplements, in turn driving the chocolate flavoring compounds market. Amid the growing health consciousness and low-sugar preference of consumers, health benefits of cocoa and introduction of healthier chocolate flavoring compounds are likely to propel the chocolate flavoring compounds market in the future.
Market Outlook for Chocolate Flavoring Compounds Market
A chocolate flavoring compound is a mixture of various ingredients such as vegetable fats, sugars, cocoa powder and other flavors which are used to impart chocolaty flavor to the desired food product. Chocolate flavoring compounds are the base ingredients used to manufacture commercially consumed confectionery chocolates. Despite the growing health trends, the chocolate flavoring compounds market is expected to witness growth due to modifications in the traditionally consumed chocolate flavoring compounds such as reduction of sugar and protein fortification. Basically, according to the standards set by the FDA, chocolate flavoring compounds are more flexible than chocolate standards and hence can be developed into a wide range of varieties with respect to flavor, color and performance.
Reasons for Covering this Title
The growth in the confectionery vertical is also likely to support the growth of the chocolate flavoring compounds market. Nowadays, the finished product suppliers are also exhibiting interest in confectionery coatings, which is likely to boost the growth of the chocolate flavoring compounds market. However, the high cocoa bean prices may tamper with the growth of the chocolate flavoring compounds market. This has led to difficulty in passing on the price rise to consumers and consequently, the profit margins are squeezed. Other factors such as legislation and strict regulations circulating around the negative shift of the fat and sugar in the chocolate flavoring compounds have led to declining exports in Europe and stagnating demand. On the positive side, personalization is a trend observed in the chocolate flavoring compounds market, such as the emergence of retail stores which enable the consumers to design and shape their own chocolate bars, are becoming increasingly common. In addition, marketing the chocolate flavoring compounds which can be paired with vegetables and other protein-rich foods are also enabling the manufacturers to expand their consumer base by targeting the health conscious demo graph.
Global Chocolate Flavoring Compounds Market: Key Players
Some of the key players operating in the global chocolate flavoring compounds market are Clover Hill Food Ingredients Ltd, Cargill, Incorporated, ADM WILD Europe GmbH & Co.KG, Nestlé, Wilmar International Limited, PURATOS, Shellz Overseas Pvt. Ltd., INFORUM Group, Buhler AG,Barry Callebaut, Unigrà S.r.l., Blommer Chocolate Company, CEMOI and HERZA Schokolade GmbH & Co. KG.
Global Chocolate Flavoring Compounds Market: Key Takeaways
In 2016, the company Puratos a launched a new product- 100% sustainable cocoa powder premium compound coatings. In 2012, the company also adopted the use of certified sustainable palm oil in its compound products.
In 2017, Wilmar International partnered with Aalst Chocolate Pte Ltd, which is a chocolate manufacturer based in Singapore to produce chocolate and compounds.
Opportunities for Chocolate Flavoring Compounds Market Participants
The chocolate flavoring compounds manufacturers have the opportunity to develop chocolate compounds which are not only low in sugar but are also lactose-free. Also, the chocolate flavoring compounds could be developed to make it more sustainable following consumer sensitivity towards eco-friendly and sustainably produced products. Another important strategy is the repositioning of the chocolate flavoring compounds by marketing it with clean label tagline. This will allow the consumers to indulge yet fulfill their health related diet regime. The chocolate flavoring compounds could also be marketed as premium products as consumers are often ready to pay more for premium products.
Brief Approach to Research
A modelling-based approach and triangulation methodology will be followed to estimate data covered in this report. A detailed market understanding and assessment of the applications, types, forms and end uses of the product segments covered in the study is followed by carrying out a demand-side approach to estimate the sales of target product segments, which is then cross-referenced with a supply-side assessment of value generated over a pre-defined period. The statistics and data is collected at a regional level, consolidated and synthesized at a global level to estimate the overall market sizes.
Key Data Points Covered in the Report
Some of the key data points covered in our report include:
- An overview of the market, including background and evolution
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- Cost structure of the products and segments covered in the study
- In-depth pricing analysis, by key product segments, regions and by major market participants
- Analysis of supply and demand, such as top producing and consuming geographies, imports/exports and overall trade scenario
- Analysis of the market structure, including a tier-wise categorization of key market participants
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The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
The report covers exhaust analysis on:
- Market Segments
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- Competition & Companies involved
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Regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia)
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The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Global Chocolate Flavoring Compounds Market: Segmentation
The chocolate flavoring compounds market is segmented on the basis of product type, product form and end use.
On the basis of product type, the chocolate flavoring compounds market is segmented as-
On the basis of product form, the chocolate flavoring compounds market is segmented as-
On the basis of end use, the chocolate flavoring compounds market is segmented as-
- chocolate beverages
- Frozen desserts
- Sauces & spreads
- Convenience food
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current, and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
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- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
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