Africa Compound Chocolate Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Africa Compound Chocolate Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Africa Compound Chocolate market is projected to grow at a CAGR of 5.6% during the forecast period.

Key Highlights

• A primary factor driving the market for compound chocolate is its functionality at a lower price. It shows that the demand for compound chocolate is growing owing to the functional attributes of compound chocolate being a substitute of coverture or real chocolate at a lower price than the coverture chocolate.
• With compound chocolates being a cheaper alternative due to the incorporation of vegetable oils as one of the ingredients over cocoa butter that is priced at a higher rate, the players are also investing in R&D to find other cheaper alternatives, such as shea butter, to replace cocoa butter in compound chocolates.

Key Market TrendsGrowing Demand for Chocolate Chips in Various Applications

The rise in popularity of compound chocolate is due to its application in a variety of application forms, including coatings, drizzles, chunks, and drops. Chocolate chips/drops/chunks can be used in cookies, pancakes, cakes, and various pastries. They are also found in many other retail food products, such as granola bars, ice cream, and trail mix, which is increasing the application of the same in these widely consumed product types. Unlike chocolate, compounds and inclusions may be colored. This not only helps to add flavor but also creates the opportunity for seasonal and limited-edition innovations.

Increased Utilization in Bakery

Compound chocolate is the most commonly used chocolate in the baking industry today. Moreover, the main consumption trends within the bakery continue to be focused around concerns over healthy eating, the need for convenience, and the desire for variety. Therefore, compound chocolate provides the following characteristics needed by consumers. The shelf life of fresh baked goods enrobed with compound coating does not get affected because hard fat is used to adjust the melting point and carries enough seed to make necessary tempering. Since there is no cocoa butter (generally) present in compound chocolate, it offers cost savings, and it eliminates the time needed in tempering.

Competitive Landscape

Africa compound chocolate market is consolidated with major players competing for the market share. The major players in the market are focusing on new product launches, expansion, mergers and acquisitions and partnerships to gain a competitive advantage in the market and therefore strengthening their hold in the market. The key players in the market are Cargill, Puratos, The Barry Callebaut Group, and Aalst Wilmar Pte Ltd among others.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

Cargill, Incorporated
Puratos
The Barry Callebaut Group
Aalst Wilmar Pte Ltd
The Bühler Holding AG

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