Low Cost of Compound Chocolate – Fueling the Market Growth
Increasing demand of low priced cocoa based products has increased the demand of compound chocolates in Europe. The major market drivers include increased price of cocoa butter, limited supply of cocoa products in the market, cheaper price of compound chocolates, and increasing demand in industrial and bakery applications. The technical advantage of non-requirement of tempering and easy manufacturing process has increased the industrial demand of compound chocolates. However, the regulation on addition of vegetable fats in chocolate, by various regulatory authorities, has restrained the growth of the compound chocolate market. Other than the regulation on vegetable fats, major factors restraining the market growth includes unhealthy nature of cheap vegetable fats, along with consumer preferences for the pure chocolates, among others.
Versatile Application of Compound Chocolate in Bakery & Confectionery Segment
The compound chocolates are used in industrial applications of bakery and confectionery products, as direct chocolate end-consumers, and in ice creams. The increased demand of coatings and coverings for the bakery products has raised compound chocolates’ popularity among bakery applications. The market is sub-segmented on the product type, as compound chocolate chips, coatings, slabs, and others. The chocolate chips are used in products, such as ice cream, biscuits, and cookies. Chocolate slabs are utilized commercially by manufactures for industrial applications, where it is melted, and further processed into final product.
By flavor, the European compound chocolate market can be segmented into dark, white, milk, and others. White chocolate has found increasing consumer preference in bakery and confectionary applications, owing to its full cream flavor characteristic.
Europe Continue to Prosper in Compound Chocolate Market
Increased consumption and production of cocoa products, and the EU food law has provided an opportunity for the growth of compound chocolate market in Europe. Additionally, increased advancement in technology, and the chocolate crisis in the market, offers great potential to the compound chocolate market. Some of the European companies export chocolate confectionery around the world, including US, Switzerland, Norway, Canada, Australia, and Japan.
• January 2017 - Barry Callebaut launched a new range of fillings for confectionery & bakery creations at ISM trade fair in Cologne. The company claims the fillings to contain 40% less calorie, compared to fat-based fillings, as they are made without any added vegetable fats or preservatives.
The major players include - CARGILL, PURATOS, CLASEN QUALITY CHOCOLATE, WILMAR INTERNATIONAL, THE BARRY CALLEBAUT GROUP, AALST CHOCOLATE, SEPHRA, CHOCOLEY, UNIGRA, PALSGAARD, AAK, FLANDERS FILINGS & COMPOUNDS (BACKED BY FUJI OIL EUROPE), AALST CHOCOLATE, amongst others.
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