Rockville , Feb. 10, 2025 (GLOBE NEWSWIRE) — According to Fact.MR, a market research and competitive intelligence provider, the global compound chocolate market is estimated to reach a valuation of US$ 27.5 billion in 2024 and is expected to grow at a CAGR of 4.8% during the forecast period from 2024 to 2034.
Compound chocolate has gained popularity due to its cost-effectiveness and culinary advantages. Unlike real chocolate, which relies on cocoa butter, compound chocolate is made with vegetable fats, significantly reducing production costs. This lower cost appeals to manufacturers, particularly in price-sensitive regions, allowing them to offer competitively priced products without compromising profitability.
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One of the key advantages of compound chocolate is its superior heat stability. Cocoa butter, found in real chocolate, is prone to melting at higher temperatures, making it less suitable for warmer climates. In contrast the vegetables fats in compound chocolate have a higher melting point, making it ideal for use in tropical regions where heat is a concern. This stability is especially beneficial for confectioneries, bakery and other products that need to maintain their shape and texture in warm conditions.
Key Takeaways from Market Study
- The global compound chocolate market is projected to grow at 4.8% (CAGR) and reach US$ 44.1 billion by 2034
- The market created an opportunity of US$ 3.2 billion between 2019 to 2024
- South Asia & Oceania is a region that is estimated to hold a market share of 15% in 2024
- Predominating market players include Barry Callebaut, Cargill, ADM, Palsgaard, Fuji Oil, Blommer Chocolate Company, Bellcolade, Puratos, Yake China Co., Beryl’s Chocolate & Confectionery, and Benns.
- White chocolate under chocolate flavor is estimated to grow at a CAGR of 5.0% creating an absolute $ opportunity of US$ 4.6 billion between 2024 and 2034
- Indonesia, Thailand and Vietnam are expected to create an absolute $ opportunity of US$ 497.9 million collectively Between year 2024 & 2034.
“Widespread use of cocoa butter alternatives like palm oil, coconut oil, and specialized vegetable fats has a substantial influence on compound chocolate production and supply.” states a Fact.MR analyst.
Market Development
Companies are continually developing new flavors, textures, and formulations to cater to diverse consumer preferences. This includes creating sugar-fee and vegan options, which are increasingly in demand as consumers prioritize health and dietary choices.
Geographic expansion into emerging markets is another key strategy for growth among players. By entering regions with rapidly growing consumer bases, companies are tapping into new opportunities and increase their market share. This expansion is often supported by strategic partnerships and acquisition, which enable companies to broaden their reach and diversify their product portfolio.
Sustainability has also become a focal point for companies in the compound chocolate market. Companies are emphasizing eco friendly practices and ethical sourcing of ingredients. These sustainability initiatives not only enhance brand reputation but also meet the rising demand for products that are both high-quality and socially responsible.
- In 2022, Barry Callebaut introduced the second generation of chocolate, more than 140 years after the original. This new generation allows brands and artisans to align with consumer preferences for natural flavors and healthier options.
Key Market Players Driving the Compound Chocolate Market
Key players in the compound chocolate industry are Barry Callebaut, Cargill, ADM, Palsgaard, Fuji Oil, Blommer Chocolate Company, Bellcolade, Puratos, Yake China Co., Beryl’s Chocolate & Confectionery, and Benns.
Industry News in the Compound Chocolate Market
In 2022, Barry Callebaut Group began constructing its third manufacturing facility in India, located in the Ghiloth industrial area near Neemrana, about 120 km from Delhi. This new chocolate and compound factory will establish India as Barry Callebaut’s largest chocolate-producing market in the Asia-Pacific region. Upon completion, the company’s total investment in India over the past five years is expected to exceed CHF 50 million.
In 2024, Cargill launched its upgraded NatureFresh Professional Chocolate Indulgence Range, offering block chocolates, cocoa powder, and chocolate chips. Developed in collaboration with top Indian bakers, the range includes Intense Dark, Dark, Milk, and White variants, known for their rich cocoa flavor, creamy texture, and superior sheen. Utilizing DoMiReCo processing technology, these chocolates ensure consistent quality and cater to bakery and ice cream applications, with a shelf life of 12-15 months.
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global Compound Chocolate market, presenting historical data for 2019 to 2023 and forecast statistics for 2024 to 2034.
The study reveals essential insights based the Chocolate type (Chocolate Chips, Chocolate Chunks, Chocolate Coatings, Chocolate Slabs, Chocolate Bars, and Other Chocolate (such as cocoa powder, and cocoa butter substitutes)) End-users (Industrial Users (Packaged Food Manufacturers and Packaged Bakery & Confectionery), Foodservice Users (Bakeries, Cafes, Restaurants, Confectionery Shop, Cake Shops, Patisserie and Others) and Household Users), Application (Confectionery (Candies, Biscuits and Cookies, Ice Cream Coatings and Others), Bakery Products (Cakes & Pastries, Doughnuts, Bread and Rolls and Others), Dairy Products (Milk Drinks, Yogurt Coatings and Others), Beverages (Hot Chocolate Mixes, Other Chocolate-flavored Drinks and Others), and Others), Flavor (Dark Flavor Chocolate, Milk Flavor Chocolate, White Flavor Chocolate, and Other Flavored Chocolate) across major regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia, and Oceania, MEA).
Discover Additional Market Insights from Fact.MR Research
According to a recent Fact.MR report, the global market for dark chocolate is anticipated to grow to a value of US$69.97 billion by 2024. Dark chocolate sales income is expected to grow at a compound annual growth rate (CAGR) of 7.2% between 2024 and 2034, reaching a market value of US$ 140.25 billion by the end of 2034.
The industrial chocolate market is expected to grow at a compound annual growth rate (CAGR) of 4.5%, from an estimated US$ 62.4 billion in 2023 to US$ 97 billion by 2033. Growing consumer awareness and interest in different brands is helping the food and beverage business. Global demand for certified chocolate is predicted to rise in response to growing ethical and environmental concerns.
When vegan milk is used to make dairy-free chocolate, the chocolate’s flavor and qualities are preserved. Due to rising consumer allergies and lactose intolerance related to milk products, the demand for dairy-free chocolate is anticipated to rise during the forecast period. Furthermore, the market for dairy-free chocolate is anticipated to grow as awareness of chemical and synthetic additives rises.
The global market for candy and chocolate manufacture is expected to grow at a compound annual growth rate (CAGR) of 2.4% to reach US$ 313.33 billion by 2034. According to the National Confectioners Association (NCA), sales of chocolate confectionery products through supermarkets increased 17.9% between March 2020 and August 2020 compared to the same period the year before.
It is anticipated that halloumi cheese sales would reach a valuation of US$ 445 million in 2023 and surpass US$ 1.2 billion by the end of 2033. Through 2033, the worldwide halloumi cheese market is projected to grow at an astounding CAGR of 10.4%.
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Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.
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