India Compound Chocolate Market, By Type (Dark Chocolate, Milk Chocolate, and White Chocolate), Sweetness (Regular, Semi-Sweet, and Sweet), Chocolate Form (Chocolate Bars/Slabs, Chocolate Chips, Chocolate Chunks, Chocolate Flakes, Chocolate Coatings, and Others), Flavour (Plain/Regular, and Flavoured), Vegetable Fat (Palm Oil, Coconut Oil, and Other Vegetable 0il), Function (Enrobing/Coating, Garnishing/Decorating, Base Ingredient, Flavouring, and Others), Application (Bakery, Assorted Chocolate and Confectionery, Beverages, Cereals, Ganache and Chocolate Dips, Frozen Dessert, Ice Creams, and Others), Distribution Channel (Direct, and Indirect) – Industry Trends and Forecast to 2031.
India Compound Chocolate Market Analysis and Size
Compound chocolate market continues to thrive with its versatile applications in bakery, and snacks. Its cost-effectiveness and ease of use have made it a preferred choice for manufacturers. With increasing demand for chocolate-flavored products worldwide, the compound chocolate market is poised for sustained growth and innovation.
Data Bridge Market Research analyses that the India compound chocolate market, which was USD 267.36 million in 2023, is expected to reach USD 752.03 million by 2031, at a CAGR of 13.8% during the forecast period 2024 to 2031. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2024 to 2031
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Base Year
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2023
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Historic Years
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2022 (Customizable to 2016-2021)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Dark Chocolate, Milk Chocolate, and White Chocolate), Sweetness (Regular, Semi-Sweet, and Sweet), Chocolate Form (Chocolate Bars/Slabs, Chocolate Chips, Chocolate Chunks, Chocolate Flakes, Chocolate Coatings, and Others), Flavour (Plain/Regular, and Flavoured), Vegetable Fat (Palm Oil, Coconut Oil, and Other Vegetable 0il), Function (Enrobing/Coating, Garnishing/Decorating, Base Ingredient, Flavouring, and Others), Application (Bakery, Assorted Chocolate and Confectionery, Beverages, Cereals, Ganache and Chocolate Dips, Frozen Dessert, Ice Creams, and Others), Distribution Channel (Direct, and Indirect)
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Market Players Covered
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Clover Hill Food Ingredients Ltd. (U.K.), Cargill Incorporated (U.S.), ADM (Germany), Nestlé (Switzerland), Wilmar International Limited (Singapore), Puratos Group (Belgium), Shellz.in (India), Buhler AG (Switzerland), Barry Callebaut (Switzerland), Unigrà S.p.a. (Italy), Blommer Chocolate Company (U.S.), CEMOI (France), HERZA Schokolade GmbH & Co. KG. (Germany), Clasen Quality Coatings, Inc. (U.S.), Mondelēz International. (U.S.)
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Market Opportunities
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Market Definition
Compound chocolate is a chocolate-type product made from a combination of cocoa, vegetable fat, and sweeteners. It lacks cocoa butter, which is found in real chocolate. Widely used in confectionery for coatings, fillings, and candies, it offers versatility in various culinary applications.
India Compound Chocolate Market Dynamics
Drivers
- Innovations in Product Development Creates Demamd
Manufacturers drive the compound chocolate market by incessantly innovating, introducing enticing variations in flavors, textures, and forms. This commitment to product development captivates consumers, propelling market expansion. The dynamic evolution of compound chocolate offerings reflects a strategic response to changing consumer preferences, fostering continuous growth and a heightened appeal in the competitive confectionery landscape.
- Increasing Preference for Vegan and Dairy-Free Options
Consumer demand for vegan and dairy-free options is fueling the growth of the compound chocolate market. This trend, driven by changing dietary preferences, favors products with vegetable fats over cocoa butter. Compound chocolate meets this demand while providing a suitable alternative for individuals seeking plant-based options, contributing to its increasing popularity in the confectionery industry.
Opportunities
- Marketing and Branding Initiatives to Increase Awareness
Manufacturers are employing effective marketing and branding strategies to boost awareness and preference for compound chocolate products. These initiatives leverage various channels to highlight the affordability, versatility, and quality of compound chocolate, enticing consumers with its diverse applications. Such efforts are crucial in driving demand and establishing compound chocolate as a favored choice among consumers.
- Expansion of the Food Processing Industry
The growing food processing industry is driving heightened demand for ingredients such as compound chocolate, essential in crafting a wide array of confectionery and bakery delights. This growth stems from the industry's reliance on versatile components, with compound chocolate's adaptability proving instrumental in meeting diverse product requirements, thus solidifying its pivotal role in this expanding market landscape.
Restraints/Challenges
- High Coats of Raw Material Impacting Manufacturer
Fluctuations in cocoa and vegetable fat prices directly impact the production costs of compound chocolate, potentially raising final product prices. This challenges manufacturers to maintain competitive pricing amidst variable raw material costs, potentially deterring price-sensitive consumers and diminishing market demand, thus hampering market growth and profitability.
- Shorter Shelf Lives Impacting Profitability
The perishability of compound chocolate, due to its vegetable fat content, poses distribution and storage challenges. Its shorter shelf life, compared to real chocolate, heightens the risk of spoilage, impacting inventory management and profitability. This presents a significant challenge for the market.
This India compound chocolate market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the India compound chocolate market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Developments
- In January 2022, Mondelez International launched a range of Oreo frozen desserts, featuring a creme-flavored base with Oreo cookie pieces. Coated in crushed Oreo wafer pieces, these offerings tap into the compound chocolate market's growth by offering innovative, indulgent treats that cater to evolving consumer tastes
- In December 2021, Lacta partnered with Froneri to introduce an ice cream featuring a creamy filling and chocolate chips, available in various flavors including Diamante Negro, Milk chocolate bonbon, and Laka Oreo. This collaboration leverages the appeal of compound chocolate to meet the demand for decadent, flavor-rich desserts, driving market expansion
- In November 2021, Barry Callebaut expanded its plant-based offerings with a complete portfolio of dairy-free chocolate compounds, including EZ melt compound, compound chip/chunk, compound soft chunk, compound soft shaped chunks, and bulk liquid, catering to various applications
- In November 2020, Barry Callebaut inaugurated a new office and CHOCOLATE ACADEMY Center in Shenzhen, China, providing education and support for artisans, pastry chefs, and confectioners to innovate in chocolate creation. This initiative fosters expertise and creativity within the compound chocolate sector, fueling market growth through enhanced product offerings and consumer experiences
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.
Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
India Compound Chocolate Market Scope
The India compound chocolate market is segmented on the basis of type, sweetness, chocolate form, flavour, vegetable fat, function, distribution channel, and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Dark Chocolate
- Milk Chocolate
- White Chocolate
Sweetness
- Regular
- Semi-Sweet
- Sweet
Chocolate Form
- Chocolate Bars/Slabs
- Chocolate Chips
- Chocolate Chunks
- Chocolate Flakes
- Chocolate Coatings
- Others
Flavour
- Plain/Regular
- Flavoured
Vegetable Fat
- Palm Oil
- Coconut Oil
- Other Vegetable 0il
Function
- Enrobing/Coating
- Garnishing/Decorating
- Base Ingredient
- Flavouring
- Others
Application
- Bakery
- Assorted Chocolate and Confectionery
- Beverages
- Cereals
- Ganache and Chocolate Dips
- Frozen Dessert
- Ice Creams
- Others
Distribution Channel
- Direct
- Hypermarkets/Supermarkets
- Convenience Stores
- Specialty Stores
- Independent Retailers
- Indirect
Competitive Landscape and India Compound Chocolate Market Share Analysis
The India compound chocolate market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to India compound chocolate market.
Some of the major players operating in the India compound chocolate market are:
- Clover Hill Food Ingredients Ltd. (U.K.)
- Cargill Incorporated (U.S.)
- ADM (Germany)
- Nestlé (Switzerland)
- Wilmar International Limited (Singapore)
- Puratos Group (Belgium)
- Shellz.in (India)
- Buhler AG (Switzerland)
- Barry Callebaut (Switzerland)
- Unigrà S.p.a. (Italy)
- Blommer Chocolate Company (U.S.)
- CEMOI (France)
- HERZA Schokolade GmbH & Co. KG. (Germany)
- Clasen Quality Coatings, Inc. (U.S.)
- Mondelēz International. (U.S.)
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