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The compound chocolate market share in Europe is expected to increase by USD 2.05 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 5.19%.
This compound chocolate market in Europe research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers compound chocolate market segmentation in Europe by product (milk compound chocolate, dark compound chocolate, and white compound chocolate) and geography (Germany, Italy, Switzerland, France, and Rest of Europe). The compound chocolate market in Europe report also offers information on several market vendors, including AAK AB, Barry Callebaut AG, Cargill Inc., Clasen Quality Coatings Inc., Fuji Oil Europe, Mondelez International Inc., Nestle SA, Puratos Group NV, Sephra Europe Ltd., and Wilmar International Ltd. among others.
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The increasing market indulgence is notably driving the compound chocolate market growth in Europe, although factors such as the fluctuating price of raw materials may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the compound chocolate industry in Europe. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Compound Chocolate Market Driver in Europe
One of the key factors driving growth in the compound chocolate market in Europe is the increasing market indulgence. Consumption of chocolates is associated with emotional aspects like pleasure and indulgence. With growing knowledge and interest in unique and premium products, the demand and popularity of the segment are increasing at a fast pace. Furthermore, the demand for better-quality and premium chocolates is increasing at a faster rate than other varieties of chocolates. France, the UK, Italy, Spain, and Germany are some of the countries that show the highest demand for compound chocolates. Consumers in these nations are willing to pay more for premium and luxury products. Most consumers purchase premium compound chocolates as gifts. However, the purchase rate of compound chocolates for personal consumption is also increasing. The demand for compound chocolates is further fueled by the growing demand and popularity of dark compound chocolates.
Key Compound Chocolate Market Trend in Europe
The transparency in ingredient labeling is another factor supporting the compound chocolate market share growth in Europe. The demand for clean labeled products is rising among consumers. Clean labeling ensures that a product is free from artificial preservatives and ingredients. It ensures that a product is made up of a few ingredients as possible, which are also the items that consumers recognize and think of as wholesome. Consumers are becoming more informed and seeking more knowledge on the products they consume. This, together with the changing labeling legislation for food companies, entails more in-depth specifications of cocoa or chocolate products on their labels. This trend of transparency in ingredient labeling is expected to increase during the forecast period.
Key Compound Chocolate Market Challenge in Europe
The fluctuating price of raw materials will be a major challenge for the compound chocolate market in Europe during the forecast period. The price of compound chocolates is higher than other conventional chocolates, and the rising cost of cocoa beans will lead to a further increase in the cost of production. This is further passed down to consumers by either reducing the portion size of chocolates or by increasing the prices. Hence, this can lead to reduced consumption at the consumer level. The fluctuating prices of cocoa beans also make manufacturers unable to project their production costs on an annual basis. The price of cocoa depends heavily on the growing conditions and can vary considerably each month. Furthermore, drastic weather conditions, epidemics, and other adverse conditions can also affect the productivity of crops, thereby leading to a rise in the prices of crops. Such fluctuations can negatively affect the entire supply chain of compound chocolate processing and the compound chocolate market in Europe.
This compound chocolate market in Europe analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the compound chocolate market in Europe as a part of the global packaged foods and meats market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the compound chocolate market in Europe during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the compound chocolate market in Europe encompasses successful business strategies deployed by the key vendors. The compound chocolate market in Europe is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
AAK AB - The company offers compound chocolate that is used in bakery, chocolate and confectionery, dairy and ice cream, foodservice and retail, lecithin, plant-based foods, special nutrition, technical products, animal nutrition, personal care, candles.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The compound chocolate market in Europe forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the compound chocolate market in Europe, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the packaged foods and meats market includes the following core components:
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
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31% of the market's growth will originate from Germany during the forecast period. Market growth in this region will be slower than the growth of the market in France, Switzerland, and the Rest of Europe.
The consumption of health and wellness products in the country has also undergone a hike. Hence, consumers in the country are expected to consume compound chocolates more often due to the health benefits that it offers, like their antidepressant properties. This will facilitate the compound chocolate market growth in Germany over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In 2020, the COVID-19 pandemic had a negative impact on the vendors in the compound chocolate market in the country. Severe restrictions were imposed by the German government to limit the spread of the virus in 2020. However, vendors in the market responded to changes in consumer behavior caused by the pandemic with numerous entrepreneurial initiatives such as home deliveries, pick-up services, click and collect services, and the expansion of e-commerce. Such initiatives will meet the consumers? demand for compound chocolates even during the pandemic. These factors will help the compound chocolate market in Germany to grow during the forecast period.
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The compound chocolate market share growth in Europe by the milk compound chocolate segment will be significant during the forecast period. The increasing health consciousness of people and raising awareness toward health problems caused by ailments such as obesity and heart diseases have witnessed a slow demand for milk chocolates in recent years. With the ongoing popularity of dark and white compound chocolates, milk compound chocolates are growing at a slow rate. Thus, chocolate players are experimenting and are coming up with new flavors of milk chocolates.
This report provides an accurate prediction of the contribution of all the segments to the growth of the compound chocolate market size in Europe and actionable market insights on post COVID-19 impact on each segment.
Europe Chocolate market - The market share has the potential to grow by USD 14.47 billion during 2021-2025, and the market's growth momentum will accelerate at a CAGR of 4.50%.
Organic Chocolate market - The market share is expected to rise to USD 137.54 million by 2026, and the market's growth momentum will accelerate at a CAGR of 2.71%.
Compound Chocolate Market Scope in Europe |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.19% |
Market growth 2022-2026 |
$ 2.05 billion |
Market structure |
Fragmented |
YoY growth (%) |
4.99 |
Regional analysis |
Europe |
Performing market contribution |
Germany at 31% |
Key consumer countries |
Germany, Italy, Switzerland, France, and Rest of Europe |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
AAK AB, Barry Callebaut AG, Cargill Inc., Clasen Quality Coatings Inc., Fuji Oil Europe, Mondelez International Inc., Nestle SA, Puratos Group NV, Sephra Europe Ltd., and Wilmar International Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Product
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
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