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Industrial Chocolate - Global Strategic Business Report

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    Report

  • 411 Pages
  • February 2024
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 4805835

Global Industrial Chocolate Market to Reach $81.8 Billion by 2030

The global market for Industrial Chocolate estimated at US$57.8 Billion in the year 2022, is projected to reach a revised size of US$81.8 Billion by 2030, growing at a CAGR of 4.4% over the analysis period 2022-2030. Cocoa Butter, one of the segments analyzed in the report, is projected to record a 5.1% CAGR and reach US$38.9 Billion by the end of the analysis period. Growth in the Cocoa Powder segment is estimated at 4.2% CAGR for the next 8-year period.

The U.S. Market is Estimated at $13.3 Billion, While China is Forecast to Grow at 6.8% CAGR

The Industrial Chocolate market in the U.S. is estimated at US$13.3 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$7.8 Billion by the year 2030 trailing a CAGR of 6.8% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.6% and 4.7% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 3.8% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$8.4 Billion by the year 2030.

Select Competitors (Total 77 Featured) -

  • Aalst Chocolate Pte Ltd.
  • Barry Callebaut AG
  • The Campco Ltd.
  • Cargill, Inc.
  • CEMOI Group
  • Clasen Quality Chocolate, Inc.
  • Ferrero SpA
  • Foleys Candies LP
  • Fuji Oil Co. Ltd.
  • Guittard Chocolate Company
  • The Hershey Co.
  • Lotus Chocolate Co. Ltd.
  • Mars Inc.
  • Mondelez International, Inc.
  • NATRA SA
  • Nestle SA (Switzerland).

What`s New?

  • Special discussions on the global economic climate and market sentiment
  • Coverage on global competitiveness and key competitor percentage market shares
  • Market presence analysis across multiple geographies - Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to digital archives and research platform
  • Complimentary updates for one year
  • Access to curated YouTube video transcripts of market sentiments shared by CEOs, domain experts and market influencers via interviews, podcasts, press statements and event keynotes

Economic Outlook

The global economic outlook is improving, and growth recovery, albeit on the lower side, is expected for this year and the next. The United States although witnessing slowing GDP growth in response to tight monetary and financial conditions, has nevertheless overcome the recession threat. Easing of headline inflation in Euro area is helping boost real incomes and is contributing to pick-up in economic activity. China is expected to see strong increases in GDP in the coming year as the pandemic threat recedes and the government sheds its zero-COVID policy. With optimistic GDP projections, India remains on-course to emerge into a US trillion economy by 2030, surpassing Japan and Germany.

The upturn, however, remains fragile and a number of interlocking challenges continue to run in parallel, such as continued uncertainty around the war in Ukraine; slower than expected decline in global headline inflation; continuation of food and fuel inflation as a persistent economic problem for most developing countries; and still high retail inflation and its impact on consumer confidence and spending. Countries and their governments are showing signs of weathering these challenges, which helps lift market sentiments. As governments continue to combat inflation to get it down to more economically conformable levels by raising interest rates, new job creation will slowdown and impact economic activity. Stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced.

Although corporate investments can likely be held back by inflation worries and weaker demand, rise of new technologies will reverse partially this prevailing investment sentiment. Rise of generative AI; applied AI; industrializing machine learning; next-generation software development; Web3; cloud and edge computing; quantum technologies; electrification and renewables and climate technologies beyond electrification and renewables, will open up the global investment landscape. The technologies hold the potential to drive sizeable incremental growth and value to global GDP in the coming years. The short-term is expected to be a mixed bag of challenges and opportunities for both consumers and investors alike. There is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.
Frequently Asked Questions about the Industrial Chocolate Market

What is the estimated value of the Industrial Chocolate Market?

The Industrial Chocolate Market was estimated to be valued at $57.8 Billion in 2022.

What is the growth rate of the Industrial Chocolate Market?

The growth rate of the Industrial Chocolate Market is 4.4%, with an estimated value of $81.8 Billion by 2030.

What is the forecasted size of the Industrial Chocolate Market?

The Industrial Chocolate Market is estimated to be worth $81.8 Billion by 2030.

Who are the key companies in the Industrial Chocolate Market?

Key companies in the Industrial Chocolate Market include Aalst Chocolate Pte Ltd., Barry Callebaut AG, The Campco Ltd., Cargill, Inc., CEMOI Group, Clasen Quality Chocolate, Inc., Ferrero SpA, Foleys Candies LP, Fuji Oil Co. Ltd. and Guittard Chocolate Company.

Table of Contents

I. METHODOLOGYII. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
  • Industrial Chocolate: A Prelude
  • Chocolate Products
  • Types of Chocolates
  • Global Economic Update
  • World Shifts to an Endemic COVID-19 Strategy With Focus on Multilateral Approach to Managing Future Pandemics
  • From Pandemic to War & Inflation: “Subdued Outlook for 2023 Despite Signs of Easing Inflationary Conditions”
  • Here’s How Inflationary Pressures Affect the Economy
  • Russia-Ukraine War, the Primary Culprit Responsible for the Hardships
  • Although Past Peak in 2023, Efforts to Solve the Inflation Puzzle Should Continue
  • Here’s What’s Causing Inflationary Pressures in the Global Market
  • Although Declining for the First Time Since the Russia-Ukraine War, Global Oil Prices Still Remains Higher Than 2019 Levels Which In Turn Will Take Inflation Longer Than Expected to Fall: Global Average Annual Brent Crude Oil Price (In US$ Per Barrel) for Years 2017 through 2024
  • Slower Than Anticipated Decline Makes Inflation a Stickier Than Expected Problem to Solve in 2023: Global Inflation Rates (In %) for the Years 2019 through 2024
  • Global Economy Faces a Tough Climb Towards Recovery Made Rockier by the War, Persistent Challenges & Slower Decline in Underlying Core Inflation: World Economic Growth Projections (Real GDP, Annual % Change) for the Years 2020 Through 2024
  • COVID-19 Impact on Industrial Chocolate Market
  • Competitive Scenario
  • Industrial Chocolate - Global Key Competitors Percentage Market Share in 2023 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2023 (E)
  • Global Industrial Chocolate Market Set to Witness Rapid Growth
  • Global Industrial Chocolate Market Relishes Scoopful of Gains with Medley of Drivers & Trends
  • Cocoa Butter Wins Consumer Favor for Flavor
  • Confectionery Grabs the Largest Pie, Chocolate Dives Deep into Dairy Products
  • Developed Markets: Traditional Revenue Contributors
  • Developed Regions Market Trends
  • Asia-Pacific Brims with NoTable Growth Potential
  • China
  • Growth Restrains
  • Recent Market Activity
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
  • Rising Awareness about Health Benefits of Cocoa Drives Market Demand
  • Prominent Trends Stirring the Industrial Chocolate Market Right Now
  • Crafted to Taste: Increasing Allure of Artisan Chocolates Drives Demand for Industrial Chocolates
  • Bean-to-Craft Bar
  • Creativity & Product Launch Catalyze Expansion
  • Technological Advances Create Perfect Moments for Next-Level Chocolate Production
  • Technology Trends Redefining Commercial Chocolate Production
  • Ruby Chocolate: The Bright Star Unlocking Dazzling Avenues for Industrial Chocolate
  • Demand for Savory Flavored Chocolates Gains Momentum Driving Market Expansion
  • Constantly Rising Awareness Regarding Maintaining a Healthy Lifestyle is Propelling Use of Natural Sweeteners
  • Use of Organic Ingredients for Manufacturing Chocolates Witnesses a Surge
  • Demand for Gluten-Free and Plant-Based Chocolates Witnesses a Surge
  • The Market for Industrial Chocolate to Benefit from Dark Chocolate's Increased Consumption
  • Immersing Consumers in Multisensory Experiences
  • Link with Mental Health
  • Gourmet Chocolates: A Niche and Attractive Market
  • Start-ups Stir Up the Industrial Chocolate Play
  • Increasing Demand for Premium Chocolates in the Travel-Retail Segment Bodes Well for Market Growth
  • The Rise in Health-improving Food Product Demand to Propel Superior-quality Industrial Chocolate Sales
  • Growing Food & Beverage Sector Drives the Demand for Industrial Chocolates
  • Confectionery: A Vibrant End-Use Vertical for Industrial Chocolate Market
  • Volatile Cocoa Prices Impact the Confectionery Industry
  • Global Cocoa Prices (Sept-2019 to Sept-2023) (in US$/Tonne)
  • Cocoa Supply Chain Undergoes Change
  • World Cocoa Production (2023): Percentage Breakdown of Production by Region
  • Sustainable Practices in Cocoa Production
  • Dairy Products: A Market Laden with Opportunities for Industrial Chocolate
  • Global Production of Milk, Butter and Cheese (in kt pw) by Developed and Developing Countries for Average 2018-20, 2021 and 2030
  • Sustained Demand for Frozen Desserts & Ice Cream Augurs Well for Industrial Chocolate Market
4. GLOBAL MARKET PERSPECTIVE
  • Table 1: World Industrial Chocolate Market Analysis of Annual Sales in US$ Million for Years 2014 through 2030
  • Table 2: World Recent Past, Current & Future Analysis for Industrial Chocolate by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • Table 3: World Historic Review for Industrial Chocolate by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • Table 4: World 16-Year Perspective for Industrial Chocolate by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets for Years 2014, 2023 & 2030
  • Table 5: World Recent Past, Current & Future Analysis for Cocoa Butter by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • Table 6: World Historic Review for Cocoa Butter by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • Table 7: World 16-Year Perspective for Cocoa Butter by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • Table 8: World Recent Past, Current & Future Analysis for Cocoa Powder by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • Table 9: World Historic Review for Cocoa Powder by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • Table 10: World 16-Year Perspective for Cocoa Powder by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • Table 11: World Recent Past, Current & Future Analysis for Other Product Types by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • Table 12: World Historic Review for Other Product Types by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • Table 13: World 16-Year Perspective for Other Product Types by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • Table 14: World Recent Past, Current & Future Analysis for Confectionery by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • Table 15: World Historic Review for Confectionery by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • Table 16: World 16-Year Perspective for Confectionery by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • Table 17: World Recent Past, Current & Future Analysis for Biscuits & Bakery Products by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • Table 18: World Historic Review for Biscuits & Bakery Products by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • Table 19: World 16-Year Perspective for Biscuits & Bakery Products by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • Table 20: World Recent Past, Current & Future Analysis for Dairy & Desserts by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • Table 21: World Historic Review for Dairy & Desserts by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • Table 22: World 16-Year Perspective for Dairy & Desserts by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • Table 23: World Recent Past, Current & Future Analysis for Ice Creams & Frozen Items by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • Table 24: World Historic Review for Ice Creams & Frozen Items by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • Table 25: World 16-Year Perspective for Ice Creams & Frozen Items by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • Table 26: World Recent Past, Current & Future Analysis for Cereals by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • Table 27: World Historic Review for Cereals by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • Table 28: World 16-Year Perspective for Cereals by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • Table 29: World Recent Past, Current & Future Analysis for Other End-Uses by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • Table 30: World Historic Review for Other End-Uses by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • Table 31: World 16-Year Perspective for Other End-Uses by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
III. MARKET ANALYSIS
UNITED STATES
  • Industrial Chocolate Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2023 (E)
CANADA
JAPAN
  • Industrial Chocolate Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2023 (E)
  • Japanese Chocolate Industry
  • Japanese Chocolate Products Per Capita Consumption (in Kg) for 2011, 2015 and 2019E
CHINA
  • Industrial Chocolate Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2023 (E)
  • Chinese Chocolate Industry
  • Chinese Chocolate Confectionery Average Revenue Per Capita (in US$) for Years 2011, 2015, 2019E and 2023F
  • Chinese Chocolate Confectionery Average Price Per Unit (in US$) for Years 2011, 2015, 2019E and 2023F
EUROPE
  • Industrial Chocolate Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2023 (E)
FRANCE
  • Industrial Chocolate Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2023 (E)
GERMANY
  • Industrial Chocolate Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2023 (E)
ITALY
UNITED KINGDOM
  • Industrial Chocolate Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2023 (E)
SPAINRUSSIAREST OF EUROPE
ASIA-PACIFIC
  • Industrial Chocolate Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2023 (E)
AUSTRALIA
  • Industrial Chocolate Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Australia for 2023 (E)
INDIA
  • Industrial Chocolate Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2023 (E)
SOUTH KOREAREST OF ASIA-PACIFIC
LATIN AMERICA
  • Industrial Chocolate Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2023 (E)
ARGENTINABRAZILMEXICOREST OF LATIN AMERICA
MIDDLE EAST
  • Industrial Chocolate Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2023 (E)
IRANISRAELSAUDI ARABIAUNITED ARAB EMIRATESREST OF MIDDLE EAST
AFRICA
  • Industrial Chocolate Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2023 (E)
IV. COMPETITION

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Aalst Chocolate Pte Ltd.
  • Barry Callebaut AG
  • The Campco Ltd.
  • Cargill, Inc.
  • CEMOI Group
  • Clasen Quality Chocolate, Inc.
  • Ferrero SpA
  • Foleys Candies LP
  • Fuji Oil Co. Ltd.
  • Guittard Chocolate Company
  • The Hershey Co.
  • Lotus Chocolate Co. Ltd.
  • Mars Inc.
  • Mondelez International, Inc.
  • NATRA SA
  • Nestle SA (Switzerland).