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Europe Compound Chocolate Market - Growth, Trends And Forecast (2019 - 2024)

  • ID: 4828020
  • Report
  • April 2019
  • Region: Europe
  • 90 pages
  • Mordor Intelligence
UP TO OFF
until Mar 31st 2020
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FEATURED COMPANIES

  • AAK
  • Aalst Chocolate
  • Cargill Incorporated
  • Clasen Quality Chocolate
  • Puratos
  • Sephra
  • MORE
Market Overview

The Europe Compound Chocolate Market market is forecasted to reach USD 1.69 billion by 2024 growing at a CAGR of 4.03% during the forecast period (2019 - 2024).
  • 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, owing to the functional attributes of compound chocolate being a replicate of coverture or real chocolate at a lower price than coverture chocolates.
  • The functionalities are driving the market, however, the market is witnessing this development in the developing region of Eastern Europe, whereas, strict regulation in the European Union negates this factor.
  • Russia and France are expected to retain their dominant position in the regional market over the forecast period.
Scope of the Report

Compound chocolates, as defined by FDA, are cocoa products containing cocoa butter substitute (CBS) or cocoa butter equivalent (CBE). The vegetable fats commonly used are often hard fats or fats semi-solids at room temperature, such as coconut oil and palm kernel oil. The scope of the market includes Europe compound chocolate market, segmented by flavor includes dark, milk, white and other flavors. By product, it is segmented as chocolate chips/drops/chunks, chocolate slab, chocolate coatings and other products and by application, the market is segmented as compound chocolates, bakery, confectionery and ice cream and frozen desserts.

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 cocoa content. It is more popular among the millennial, owing to the busy lifestyle and time restraint for cooking. Also, the high content of cocoa is a powerful source of antioxidants, which makes it healthy. Dark chocolate flavors are majorly used in the confectionary and bakery industries. Other applications include panning, enrobing, drizzling, molding, and bottoming. Within the umbrella of dark chocolate, there are several types, all with different ratios of sugar to 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 is expected to return to prosperity, due to increasing disposable incomes, higher living standards, and shifting lifestyles resulting from cultural changes and colonization. This has led to the proliferation of chocolate manufacturing in the region and increased the sales of compound chocolate in the region. The value sales of chocolate manufacturing in the European Union increased by approximately between 6-7% between 2010 and 2016, which has also led to an increase in the fabrication of compound chocolate in the region.

Competitive Landscape

The European compound chocolate market has many regional and international players and is highly competitive. The market is dominated by key global players. However, there is significant presence of the regional players, such as AAK, ALTINMARKA, Flanders Filings & Compounds (backed by Fuji Oil Europe), Bunge Loders Croklaan, and Mevo Holland. Europe holds high significance in the global compound chocolate market, and the companies have their focus on product development.The market is expected to grow, particularly in some regions. Thus, major companies are trying to increase their production and the overall sales by extensively marketing these products in the developing regions too.
Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • AAK
  • Aalst Chocolate
  • Cargill Incorporated
  • Clasen Quality Chocolate
  • Puratos
  • Sephra
  • MORE
1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY
3.1 Market Overview

4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porters Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION
5.1 Type
5.1.1 Dark
5.1.2 Milk/White
5.2 Product
5.2.1 Chocolate Chips/Drops/Chunks
5.2.2 Chocolate Slab
5.2.3 Chocolate Coatings
5.2.4 Other Products
5.3 Application
5.3.1 Bakery
5.3.2 Confectionery
5.3.3 Ice Cream and Frozen Desserts
5.4 Geography
5.4.1 Europe
5.4.1.1 Germany
5.4.1.2 United Kingdom
5.4.1.3 France
5.4.1.4 Russia
5.4.1.5 Italy
5.4.1.6 Spain
5.4.1.7 Rest of Europe

6 COMPETITIVE LANDSCAPE
6.1 Most Active Companies
6.2 Key Strategies Adopted
6.3 Market Share Analysis
6.4 Company Profiles
6.4.1 Cargill Incorporated
6.4.2 Puratos
6.4.3 AAK
6.4.4 The Barry Callebaut Group
6.4.5 Flanders Filings & Compounds (backed by Fuji Oil Europe)
6.4.6 Aalst Chocolate
6.4.7 Clasen Quality Chocolate
6.4.8 Sephra

7 MARKET OPPORTUNITIES AND FUTURE TRENDS
Note: Product cover images may vary from those shown
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  • Cargill Incorporated
  • Puratos
  • AAK
  • The Barry Callebaut Group
  • Flanders Filings & Compounds (backed by Fuji Oil Europe)
  • Aalst Chocolate
  • Clasen Quality Chocolate
  • Sephra
Note: Product cover images may vary from those shown
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