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

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

The Asia-Pacific compound chocolate market is projected to grow at a CAGR of 5.8% during the forecast period.

Key Highlights

• The primary factor driving the market for compound chocolates is the robust demand for the product from the expanding food and beverage industry in the country for various applications, such as bakery, confectionery, frozen dessert, ice cream, beverages, cereals, and others.
• In addition, the bakery industry in the country is also emerging as the lucrative application sector amid the growth of artisanal baked commodities, thereby, aiding the growth and demand for compound chocolates.

Key Market TrendsGrowing Demand for Chocolate Confectionery

Despite rising concerns around sugar intake, consumers continue to demand every day and more indulgent treats and snacks. Premiumization of the market has been indicated by the growing use of dark chocolate, but the choice of dark, milk or white is now being broken down with the arrival of dark milk choices, offering a half-way point between rich dark and smooth milk recipes. Although chocolate confectionery consumers do not traditionally tend to have high levels of concern about health issues, the rising awareness of the need to reduce sugar intake does seem to be starting to influence new product development.

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

Asia-Pacific compound chocolate market is fragmented with the presence of several 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 Fuji Oil Holding Inc 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
Fuji Oil Holding Inc
KCG Corporation
Unigra
The Bühler Holding AG

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