The compound chocolate market in Europe is forecasted to reach USD 1.69 billion by 2025, registering a CAGR of 4.03% during the forecast period of 2020 -2025.
A primary factor driving the market for compound chocolates is their functionality at a lower price. It implies that the demand for compound chocolate is increasing, as compound chocolate replicates the coverture or real chocolate at a lower price.
The functionalities are driving the growth of the market in the developing regions of Eastern Europe, whereas, the strict regulations in the European Union are hindering the growth of the market.
Russia and France are expected to retain their dominant position in the European market during the forecast period.
Key Market Trends
Dark Compound Chocolate Becoming the Fastest Growing Market
Dark compound chocolate is made by processing a mixture of cocoa, vegetable oil, and sugar. The percentage of cocoa in chocolate slabs ranges from 70% to 99%. Dark chocolate is commonly used in baked confectionaries and desserts, due to the rich content of cocoa. It is more popular among the millennials, owing to the busy lifestyle and the restraints of time for cooking. In addition, the high content of cocoa is a powerful source of antioxidants, which makes it healthy. Dark chocolate flavors are majorly used in the confectionery and bakery industries. The other applications include panning, enrobing, drizzling, molding, and bottoming. Dark chocolate has several types, with different ratios of sugar and cocoa. As dark chocolate contains no milk solids, is it suitable for vegan baking also.
Well-established Bakery and Confectionery Industry in the Region
The bakery sector in the European Union is one of the most dynamic sectors, in terms of innovation and quick response to consumer demands and trends. After the recent recession, the bakery and confectionery industry in Europe was expected to register growth, due to the increasing disposable incomes, higher living standards, and changing lifestyles resulting from the cultural changes and colonization. This has led to the proliferation of chocolate manufacturing in the region and boosted the sales of compound chocolate in the region. Chocolate manufacturing in the European Union increased by about 6-7% during 2010 and 2016. This factor also led to an increase in the fabrication of compound chocolate in the region.
Competitive Landscape
The European compound chocolate market is highly competitive, with the presence of many regional and international players. The market is dominated by key global players. However, there is a significant presence of the regional players, such as AAK, Cargill Incorporated, Flanders Filings & Compounds (backed by Fuji Oil Europe), The Barry Callebaut Group, and Sephra LP. The European market holds a prominent position in the global compound chocolate market. The companies are focusing on product development. The market is expected to witness significant growth, particularly in some regions. Thus, the major companies are trying to increase their production and the overall sales by extensively marketing these products in the developing regions too.
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A primary factor driving the market for compound chocolates is their functionality at a lower price. It implies that the demand for compound chocolate is increasing, as compound chocolate replicates the coverture or real chocolate at a lower price.
The functionalities are driving the growth of the market in the developing regions of Eastern Europe, whereas, the strict regulations in the European Union are hindering the growth of the market.
Russia and France are expected to retain their dominant position in the European market during the forecast period.
Key Market Trends
Dark Compound Chocolate Becoming the Fastest Growing Market
Dark compound chocolate is made by processing a mixture of cocoa, vegetable oil, and sugar. The percentage of cocoa in chocolate slabs ranges from 70% to 99%. Dark chocolate is commonly used in baked confectionaries and desserts, due to the rich content of cocoa. It is more popular among the millennials, owing to the busy lifestyle and the restraints of time for cooking. In addition, the high content of cocoa is a powerful source of antioxidants, which makes it healthy. Dark chocolate flavors are majorly used in the confectionery and bakery industries. The other applications include panning, enrobing, drizzling, molding, and bottoming. Dark chocolate has several types, with different ratios of sugar and cocoa. As dark chocolate contains no milk solids, is it suitable for vegan baking also.
Well-established Bakery and Confectionery Industry in the Region
The bakery sector in the European Union is one of the most dynamic sectors, in terms of innovation and quick response to consumer demands and trends. After the recent recession, the bakery and confectionery industry in Europe was expected to register growth, due to the increasing disposable incomes, higher living standards, and changing lifestyles resulting from the cultural changes and colonization. This has led to the proliferation of chocolate manufacturing in the region and boosted the sales of compound chocolate in the region. Chocolate manufacturing in the European Union increased by about 6-7% during 2010 and 2016. This factor also led to an increase in the fabrication of compound chocolate in the region.
Competitive Landscape
The European compound chocolate market is highly competitive, with the presence of many regional and international players. The market is dominated by key global players. However, there is a significant presence of the regional players, such as AAK, Cargill Incorporated, Flanders Filings & Compounds (backed by Fuji Oil Europe), The Barry Callebaut Group, and Sephra LP. The European market holds a prominent position in the global compound chocolate market. The companies are focusing on product development. The market is expected to witness significant growth, particularly in some regions. Thus, the major companies are trying to increase their production and the overall sales by extensively marketing these products in the developing regions too.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
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This product will be delivered within 2 business days.
Table of Contents
1 INTRODUCTION
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
5 MARKET SEGMENTATION
6 COMPETITIVE LANDSCAPE
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Cargill Incorporated
- Puratos NV
- AAK
- The Barry Callebaut Group
- Flanders Filings & Compounds (backed by Fuji Oil Europe)
- Aalst Chocolate Pte Ltd
- Sephra LP
- Clasen Quality Chocolate
Methodology
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