Tempering Chocolate: Market outlook
The world chocolate market is brighter than it has been in a decade. The revenue sales and volume growth for the chocolate industry are witnessing a profitable growth, especially in developing economies. The primary reason for the robust growth of the chocolate industry is the growing trend for “premiumization.” Premiumization has largely impacted and influenced the purchasing decisions of the buyers. The consumers are shifting towards premium and luxury products, including chocolates. Convenience, price, “minutes of delight,” and brand loyalty are some of the critical factor driving the chocolate industry over the forecast period. Innovation is the key that is being adopted by every big chocolate manufacturers to seek out to a more extensive consumer base. Tempering chocolate is one such innovation that aims to provide consumers with a next-level chocolate experience with fine texture and delightful flavor. Tempering chocolate is nothing but chocolate that has undergone a process called “tempering,” a process of mixing and cooling liquid chocolate at a suitable temperature, to re-establish the cocoa butter crystals present in the chocolate. The tempering process produces an end product with professional snap, sheen, and taste. Tempering chocolate is free from fat bloom i.e., a whitish coating that appears on some chocolates due to the separation of cocoa butter crystals, making the chocolates perfect at every level. Tempering chocolate is anticipated to witness a proliferating growth and demand owing to its professional texture and flavor, which gives it an extra edge over the conventional chocolates available. The growing awareness among consumers towards the quality of products, rising brand image consciousness among manufacturers, and increasing artisanal chocolates and confectioneries are giving rise to the demand for tempering chocolate over the forecast period.
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Growing Premiumization and Changing Consumers Eating Habits is Paving the Path for Tempering Chocolate
Today’s consumers are seeking for chocolate as an everyday luxury and convenience food. The growing demand for chocolates is backed by the economic stability and increasing purchasing powers of the consumers. Besides, growing innovation and product launches by the manufacturers are giving rise to the chocolate industry. Tempering chocolate is premium chocolate that is anticipated to witness a fueling demand among the consumers owing to its professional texture and superior quality. Tempering chocolate is widely used by chocolatier, bakery, and confectionery artisans to provide consumers with the right quality products. The growing number of bakery and confectioneries and an increasing number of specialty stores are fueling the demand for tempering chocolate over the forecast period. Besides, increasing product launches and innovation by big brands has fueled the demand for tempering chocolates. Personalized chocolates, cool flavors, ‘Hot’ fruits, nuts and spices, seasonal varieties, packaging, and 3D printing among others are vital innovations that are taken up by chocolate manufacturers to cater to the consumer demands. The growing innovation is thus expected to provide new opportunities for the tempering chocolate market.
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Global Tempering Chocolate: Market Segmentation
On the basis of nature, global tempering chocolate can be segmented as:-
On the basis of product type, global tempering chocolate can be segmented as:-
- Milk chocolate
- Dark Chocolate
On the basis of form, global tempering chocolate can be segmented as:-
On the basis of end use, global tempering chocolate can be segmented as:-
- Baked Goods
Global Tempering Chocolate: Key Players
Some the key players operating their business in the global tempering chocolate market are The Guittard Chocolate Company, Blommer Chocolate Company, Ghirardelli Chocolate Company, Santa Barbara Chocolate Company, Callebaut, and The Grenada Chocolate Company among others
There is an intense competition in the global chocolate and tempering chocolate market, manufacturers are continuously updating their inventories with new products and are increasing looking for a product launch to stand out from other market players. In the global tempering chocolate market, manufacturers are using different flavor and ingredient innovations to cater to the growing demand from consumers. Good manufacturing practices, product innovation, marketing campaigns, brand image, clean labels, and strong label game are game-changing strategies adopted by tempering chocolate manufacturers.
Opportunities for Tempering Chocolate Market Participants:
Tempering chocolate is anticipated to witness a growing demand in Europe and North America owing to the consolidation of big chocolate brands, growing innovation in the chocolate industry, and increasing product launches. However, the maximum prospects for tempering chocolates lies in the developing regions of Latin America, the Middle East, and the Asia Pacific. These developing nations are witnessing robust growth in the chocolate industry owing to increasing premiumization, growing per capita disposable incomes of the consumers, rising bakery and confectioneries, and growing trends of gifting luxury chocolates on occasions and festivals.
The tempering chocolate market report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the tempering chocolate market, including but not limited to: regional markets, nature, product type, form, and end use.
The study is a source of reliable data on:
- Tempering chocolate market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The tempering chocolate market report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the tempering chocolate market report projects the attractiveness of each major segment over the forecast period.
Highlights of the Tempering Chocolate market report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the tempering chocolate market
- Recommendations to companies for strengthening their foothold in the tempering chocolate market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.