Couverture Chocolate: Market outlook
Improving the economy of various countries has led to increase in disposable income and raised the standard of living, which put impact over the rising trend of premiumization and consumption of premium products in food and beverage segment. Couverture chocolate is also gaining the demand in the premium product segment owing to the presence of a greater percentage of cocoa butter relative to the other ingredients. Unlike regular chocolate, couverture chocolates are ground to finer texture during the grinding process which leads to producing superior flavor and texture. Improved flavor and texture of couverture chocolate make them favorable for enrobing and tempering of bonbons, truffles, and other fine candies. Also, chocolate couverture is called as cooking chocolate due to its application as a glazing and filling agent. In the global chocolate market, the demand for couverture is also increasing manufactures due to its stability. Chocolate couverture is mostly used in the molding of chocolates because it can be melted and re-melted. In the global couverture chocolate market, North America and Europe hold the major share in production and consumption of couverture chocolate owing to the presence of key chocolate manufacturers in the region. Also, various promotional strategies applied by the manufacturers in the region is contributing to the growth of couverture chocolate market. With the increasing demand for couverture chocolate among manufacturers, it can be anticipated that the demand for couverture chocolate will increase over the forecast period.
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Rising Demand for Couverture chocolate in Pharmaceutical and Nutraceutical Industry
Over the last few years, there has been a shift in the demand for convenience foodstuffs across the globe. Consumers – especially millennials – are preferring chocolates as a gift for showing their emotions and also as an all-day snack option. Food stores across the Europe region have set up in-store chocolate outfits to cater to this continuous demand. This has opened up avenues for the growth of couverture chocolate market in bakeries as well as in-store bakery outfits increasing manifold by the day. In the global chocolate market, there is a very tough competition among manufacturers than ever before leading to frequent product launch. In the global couverture chocolate market, manufacturers are utilizing various strategies such as frequent product launch with different ingredients, with zero sugar and also doing packaging innovations to attract the young population. In global couverture chocolate market, the packaging is one of the crucial aspects, as it helps in better marketing of the product as well as in maintaining the quality of the chocolates. On the other hand, rising demand for personalized and theme-based chocolates is also creating growth avenue for couverture chocolate market. The demand for couverture chocolate is also increasing in the 3D printed chocolates, where high-quality chocolate couverture is required. On the other hand, consumer traction towards health and wellness has caused consumers to cut down on consumption of chocolate products, hindering the growth of couverture chocolate market.
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Global Couverture Chocolate: Market Segmentation
Based on nature, the global couverture chocolate market can be segmented as:
Based on form, the global couverture chocolate market can be segmented as:
Based on type, the global couverture chocolate market can be segmented as:
- Milk Chocolate
- Dark Chocolate
Based on end-use, the global couverture chocolate market can be segmented as:
- Bakery Industry
- Chocolates and Confectionaries
Global Couverture Chocolate: Key Players
Key players operating their business in global couverture chocolate market are Scharffen Berger, Amano, Felchlin, Guittard, Lindt, and Valrhona, Struben Couverture Chocolate Factory, Callebaut, El Rey, Cocoa Processing Company Limited (CPC), Barry Callebaut AG and others.
Opportunities for Market Participants:
Escalating demand for couverture chocolate from the foodservice sector, featuring gourmet and pure chocolate-based cuisines is providing the opportunity for the growth of couverture chocolate. Couverture chocolate decorations have become one of the essential parts of the chef's aisle to attract consumers. Apart from all the above-mentioned factors, increasing awareness among manufacturers and consumers about couverture chocolate, it can be expected that the demand for couverture chocolate will boom in the coming future.
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