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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.
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.
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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.
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
- Macroeconomic factors affecting the market and its potential
- Market dynamics, such as drivers, challenges and trends
- Detailed value chain analysis of the market
- 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
- Competitive landscape of the market, including detailed profiles of the top players in this market
The report covers exhaust analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Technology
- Value Chain
Regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Japan
- Middle East and Africa (GCC Countries, S. Africa, Northern Africa)
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-
- Dark
- Regular
On the basis of product form, the chocolate flavoring compounds market is segmented as-
- Solid
- Paste
On the basis of end use, the chocolate flavoring compounds market is segmented as-
- Variegates
- chocolate beverages
- Bakery
- Frozen desserts
- Confectionery
- Dairy
- Snacks
- Sauces & spreads
- Convenience food
- Others
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Report Highlights:
- 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
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint