(2019 – 2024) North America Compound Chocolate Market – CAGR GROWTH, TRENDS, ANALYSIS AND FORECAST
North America Compound Chocolate Market is expected to grow at a CAGR of 3.8% during the forecast period of (2019 – 2024). And report provides complete market overview, list of top manufactures, scope of the report, key market trends of North America Compound Chocolate market and main aspect about report- why should you buy this research report? so don’t miss it.
North America Compound Chocolate Market Overview:
North America Compound Chocolate Market is forecasted to reach USD 806.61 million by 2024 growing at a CAGR of 3.8% during the forecast period (2019 – 2024).
– Qualities of compound chocolate, such as its attractive price, as compared to pure cocoa-based chocolates and the fact that it hardens without tempering, are making it an ideal choice for food manufacturers in various segments, such as bakery, confectionery, ice creams, and frozen desserts.
– The regulations associated with the amount of vegetable fat in compound chocolates are not uniform, which somehow restrain the compound chocolate market in the region. In addition, there is raising awareness among people about the health issues caused by the fats used in the products.
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List of Top Key-players/Leading Manufacturers of North America Compound Chocolate Market:
Scope of the North America Compound Chocolate Market Report:
Compound chocolates, as defined by the 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 North America 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.
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Key Trends of North America Compound Chocolate Market:
Economical and Desirable Substitute of Cocoa Butter
The global retail sales of chocolate is increasing, with an annual rate of almost 8%, since 2014, and the United States is expected to be a leading market, in terms of absolute consumption. The United States is also expected to retain the largest share of approximately 19% of the global chocolate consumption by 2020. The low production cost and increased functionalities of compound chocolate are major drivers for the market.
The raw materials play a key role in gaining higher revenue in the compound chocolate market. Vegetable fats, which are the raw materials used in the production of compound chocolate, are far less expensive than cocoa butter. Thus, manufacturers prefer to use compound chocolate over regular chocolate to reduce their overall production costs.
Milk Chocolate Being the Most Desired Form of Chocolate in North America
Milk compound chocolate is the most popular and consumed chocolate, and it accounted for the majority market share of the compound chocolate market in North America. Milk chocolate is basically made from premium-quality skimmed milk powders. It involves ingredients, like a blend of milk and sugar, which is mixed with cocoa powder. Puratos markets Carat Coverlux Milk chocolate, which is a hard coating, used for making fudge, enrobing, dipping, decorating, and much more. It is light in color, with a smooth and milky taste. Its ready-to-use profile and freeze/thaw stability assist its use among various bakery products. The product’s multipurpose applications (molding, enrobing, dipping, flavoring, and decorating) makes it a possible alternative to other types.
Reasons to Purchase North America Compound Chocolate Market Report:
- The report analyses how the stringent emission control norms will drive the global North America Compound Chocolate market.
- Analysing various perspectives of the market with the help of Porter’s five forces analysis.
- Study on the product type that is expected to dominate the market.
- Study on the regions that are expected to witness fastest growth during the forecast period.
- Identify the latest developments, market shares and strategies employed by the major North America Compound Chocolate market players.
- 3 months’ analyst support along with the Market Estimate sheet (in excel).
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Overview of TOC, what it contains? –
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 Porter’s 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 Product Type
5.2 Distribution Channel
6 COMPETITIVE LANDSCAPE
6.1 Market Share Analysis
6.2 Most Active Companies
6.3 Most Adopted Strategy
6.4 Company Profiles
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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