Chocolate Compounds: Introduction
Chocolate compounds are also known as imitation chocolate as it is prepared by the substitute of cocoa butter such as vegetable oils. Chocolate compounds are one of the commonly used chocolate in the bakery industry. Coating chocolate, non-temper coatings, confectionery coating, or baker’s chocolate are the various trade name of Chocolate compounds. Chocolate Compounds are cheaper than cocoa butter because it is derived from the palm kernel oil and hard vegetable fats. Chocolate compounds are used as a coating agent for biscuits, candies, cookies, nuts, and dry fruits. Chips, bars, and slabs are the most preferred forms of chocolate compounds that are available in the market. The chocolate slabs are used in commercial applications. The cheaper prices of chocolate compounds and easy availability of raw materials as compared to cocoa butter are the key factors that are driving the global market growth of chocolate compounds.
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Chocolate Compounds: Dynamics
Rising consumers’ inclination towards artisan and healthier chocolate has led to the entry of various large and small-scale chocolate compound manufacturers across the globe, to tailor to the rising demand from confectionaries and artisanal bakeries. The players are making all their efforts to produce chocolate compounds by using better-quality ingredients that have a wide range of palette flavors and extraordinary complexity. The consumers are shifting towards dairy-free ingredients based products in their diet due to the increasing vegan trend; most of the bars available in the market are vegan certified. Apart from vegan certification, various chocolate compound-based bars are also soy-free, gluten-free and nut-free. For instance, Mondelez International, Inc. one of the leading chocolate company, has come up with the various differentiation in its products, as the company uses vegetable oils, including Shea, and palm. Thus, increasing the popularity and application of Chocolate compounds in the global market. On the other hand, the increasing obesity is forcing customers to reduce the intake of confectionery, bakery, and chocolate products and strict regulations might stagnate the overall market growth.
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Chocolate Compounds Market: Segmentation
The chocolate compounds market can be segmented based on nature, product type, application, and sales channel.
Based on nature, the chocolate compounds market can be segmented as –
Based on form, the chocolate compounds market can be segmented as –
- Chocolate Bars
- Chocolate Slabs
- Chocolate Chips
- Chocolate Coatings
Based on flavor, the chocolate compounds market can be segmented as –
Based on source, the chocolate compounds market can be segmented as –
- Vegetable oil
- Coconut oil
- Palm kernel oil
- Hydrogenated palm oil
- Others substitutes
Based on application, the chocolate compounds market can be segmented as –
- Food Processing Industries
- Frozen desserts and Ice-Cream
- Syrups & Spreads
- Food Service Providers
- Retail/ Households
Based on sales channel, the chocolate compounds market can be segmented as –
- Hypermarkets/ Supermarkets
- Convenience Stores
- Specialty Stores
- Independent Small Groceries
- Online Retailing
Chocolate Compounds: Key Players
Some of the key manufacturers of global chocolate compounds market include Mondelez International, Inc., Mars Inc., Barry Callebaut AG, Archer Daniels Midland Company, The Hershey Co., Nestle S.A., Foley’s Candies Ltd, Cargill Incorporated, Beryl’s Chocolate & Confectionery, Blommer Chocolate Company, Aalst Wilmar Pte Ltd, Palsgaard, and Puratos among others.
Chocolate Compounds: Opportunities & Product Launch
The increasing demand for chocolate compounds in developing as well as densely populated nations including China, Japan, and India, will have a direct influence on the development of global market. Chocolate compounds proficiently imitates the functional properties of real chocolate at less expense, which, in turn, is increasing the growth of chocolate compounds market. The key players in the chocolate compounds market are adopting several approaches including R&D, new product launch, geographic expansion, agreement, acquisitions to build up their business presence & portfolio. For instance, in 2018, Fuji Oil Holding acquired North American leading chocolate company- Blommer Chocolate. Blommer Chocolate is one of the top five leading manufacturers of North America and this acquisition will impact the growth in a positive way.
In August 2018, Barry Callebaut Group introduced the premium range of chocolate compounds under the brand name of Van Houten in Indian market.
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