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Industrial Chocolate Market by End-user, Application, and Geography - Forecast and Analysis 2023-2027

  • Published: Nov 2022
  • Pages: 179
  • SKU: IRTNTR43472
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The industrial chocolate market is estimated to grow at a CAGR of 5.06% between 2022 and 2027. The size of the market is forecast to increase by USD 2,699.24 million. The growth of the market depends on serval factors, including the growing consumer awareness about the health benefits of dark chocolate, the rising demand for ruby chocolates, and technological innovations in the industrial chocolate supply chain. 

This report extensively covers market segmentation by end-user (confectionery, biscuits and bakery products, dairy and desserts, ice creams and frozen items, and cereals and others), application (milk chocolate, dark chocolate, and white chocolate), and geography (Europe, North America, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.

What will be the size of the Industrial Chocolate Market During the Forecast Period?

Industrial Chocolate Market Size

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Parent Market Analysis

Technavio categorizes the global industrial chocolate market as a part of the global packaged foods and meats market. The global packaged foods and meats products market covers manufacturers or food processing vendors that are involved in food processing to eliminate microorganisms and extend shelf life. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.

Industrial Chocolate Market: Key Drivers, Trends, Challenges, and Customer Landscape

Growing consumer awareness about the health benefits of dark chocolate is notably driving the market growth, although factors such as fluctuations in the prices of cocoa and sugar may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Industrial Chocolate Market Driver

Growing consumer awareness about the health benefits of dark chocolate is notably driving the market growth. The increasing adoption of healthy lifestyles and the rising awareness about the health benefits of dark chocolate have increased the demand for dark chocolate products. It contains moderate amounts of sugar compared to other chocolate types and offers several health benefits to consumers. One such benefit is that dark chocolate product are good sources of fiber and minerals (iron, magnesium, copper, phosphorus, potassium, zinc, and manganese). These products contain a healthy fatty acid profile with high amounts of saturated and monosaturated fats.

The rising consumer awareness about the health benefits of dark chocolate is encouraging manufacturers to develop new variants of dark chocolate products. Manufacturers are incorporating healthy ingredients, such as chia seeds and quinoa seeds, into dark chocolate products to position these products as premium, healthy offerings. Overall, the rising demand for dark chocolate is expected to boost the growth of the market during the forecast period.

Key Industrial Chocolate Market Trend

The growing popularity of clean-label chocolate is a major trend in the market. Consumers of industrial chocolate seek improved snacking options. Young consumers are more likely to seek all-natural and wholesome ingredients in the products they buy. Clean-label chocolates include products such as gluten-free, dairy-free, and organic chocolates. Barry Callebaut is among the vendors that offer organic industrial chocolate and dairy-free industrial chocolate. The global industrial chocolate market has recorded a growing trend of clean labeling over the last few years.

Clean labeling refers to the simplification of the chocolate manufacturing process by using as few ingredients as possible. Chocolate manufacturers are increasingly focusing on producing chocolate using few ingredients while ensuring that these ingredients are recognized and perceived as wholesome by consumers. Vendors in the global industrial chocolate market are likely to expand their product lines to include organic, low-carb, non-genetically modified organism (GMO), gluten-free, and vegetable-based alternatives as consumers continue to seek healthier options. Consumers want to know where their food comes from and how it impacts their overall health. Therefore, it is important for chocolate manufacturers to communicate clearly to retain their consumers during the forecast period.

Key Industrial Chocolate Market Challenge

Fluctuations in the prices of cocoa and sugar are a major challenge impeding the market growth. Cocoa beans are the primary ingredients used in the formulation of industrial chocolate, and the other key ingredients include sugar and milk powder. Rapid fluctuations in the prices of cocoa worldwide have hampered the growth of the global industrial chocolate market over the last two years. Supply constraints, owing to the lack of adequate rainfall in key cacao-growing countries like West African countries such as Ghana and the Ivory Coast, have been key to fluctuations in cocoa prices during 2017-2019. With West Africa contributing to almost three-fourths of the global cocoa production, a reduction in cocoa yield in the region is expected to widen the supply-demand gap for cocoa, further impacting cocoa prices and increasing the total cost of procurement incurred by vendors operating in the market.

Sugar prices in the EU fell considerably after the abatement of the quota system to govern sugar production in the European Union (EU) in September 2017. With Europe being a key consumer market for sugar, sugar producers in the EU are increasingly adjusting their production capacities to explore new export markets outside Europe. Price fluctuations of ingredients such as cocoa and sugar are likely to remain serious challenges to the global industrial chocolate market during the forecast period.

Key Industrial Chocolate Market Customer Landscape

The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Industrial Chocolate Market Share by Geography

Global Industrial Chocolate Market Customer Landscape

Who are the Major Industrial Chocolate Market Vendors?

Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

Fuji Oil Holdings Inc. - The company operates under multiple segments including industrial chocolate, and vegetable oil and fats with a high focus on?industrial chocolate. The company under this segment?offers products such as savory couverture, and chocolate for bread or ice cream. The company's key offerings include industrial chocolates.

The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:

  • Alpezzi Chocolate SA de CV
  • Barry Callebaut AG
  • Cargill Inc.
  • CEMOI Group
  • Chocoladefabriken Lindt and Sprungli AG
  • Clasen Quality Coatings Inc.
  • Davis Chocolate
  • Ferrero International S.A.
  • Foleys Candies LP
  • Guittard Chocolate Co.
  • IRCA Spa
  • Lotus Chocolate Co. Ltd.
  • Mars Inc.
  • Meiji Holdings Co. Ltd.
  • Mondelez International Inc.

Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

What is the Fastest-Growing Segment in the Industrial Chocolate Market?

The market share growth by the confectionery segment will be significant during the forecast period. Confectioneries are food items that are rich in sugar and carbohydrates. They can be further classified as baker confectioneries and sugar confectioneries. Bakers' confectionery, also known as flour confections, includes sweet pastries and other similar food items. Sugar confectionery includes candies, chocolates, and chewing gums.

Industrial Chocolate Market Size

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The confectionery segment shows a gradual increase in the market share of USD 4,017.15 million in 2017 and continued to grow until 2021. Major vendors operating in the market are increasingly emphasizing vertical and horizontal integration in order to achieve a competitive edge over their rivals. Synergies resulting from the growing number of integrations in this market segment will accelerate the growth of the market. The market growth in this segment is also being driven by a continuous flow of investments by confectionery vendors to expand their product offerings. The growth of the global industrial chocolate market in the confectionery segment is also being fueled by the rising number of product launches under the ruby chocolate category. For instance, in February 2019, Nestle SA (Nestle) launched a limited-edition variant of its premium chocolate range, Les Recettes de l Atelier. Product launches like these will spur the demand for industrial chocolate in the confectionery segment during the forecast period, thus augmenting the market growth.

Which are the Key Regions for the Industrial Chocolate Market?

Industrial Chocolate Market Share by Geography

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Europe is projected to hold a share of 37% by 2027. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

Germany, France, and Belgium are among the major markets for industrial chocolate in Europe. Growing consumer awareness about the various health benefits associated with the consumption of chocolate is one of the major factors driving the growth of the industrial chocolate market in Europe. As a result, there is an increased demand for dark chocolate as an active ingredient in products among various end-user sectors, such as bakery and confectionery. Apart from this, there is an increase in demand for dark chocolate as it imparts various health benefits to consumers, and Europe accounted for almost half of the global dark chocolate market, which is still showing positive growth.

Since the inclination of consumers in Europe towards healthier chocolates is witnessing a continuous increase, major B2C chocolate manufacturers operating in Europe are adding extra flavonoids to their chocolate bars to optimize the health qualities of the chocolates. Moreover, many consumers in Europe are demanding more dairy-free options across all food categories due to dairy allergies and lactose intolerance. This has prompted industrial chocolate manufacturers to extend their dairy-free product offerings in the European region. Therefore, increasing consumer awareness about the consumption of dark chocolate coupled with innovative product offerings from major vendors will aid the region in registering an accelerating year-over-year growth rate during the forecast period.

In 2020, the industrial chocolate market in Europe was adversely affected due to the outbreak of the COVID-19 pandemic. Nationwide lockdowns implemented by governments compelled many industrial chocolate manufacturing companies to shut down their manufacturing facilities temporarily. However, governments in the region undertook some initiatives to support the food industry. National financial support in individual countries has been much greater than EU funding, specifically in the form of State aid and other instruments in private aid. Most European countries, however, started lifting lockdown restrictions in 2021, as the European Union (EU) started vaccination. This is expected to lead to a recovery in demand for industrial chocolate and the restoration of the supply chain, which will positively impact the regional industrial chocolate market during the forecast period.

Segment Overview

The report forecasts market growth by revenue at global, regional & country levels and analyzes the latest trends and growth opportunities from 2017 to 2027. The market has been segmented by End-user (Confectionery, Biscuits and bakery products, Dairy and desserts, Ice creams and frozen items, and Cereals and others), Application (Milk chocolate, Dark chocolate, and White chocolate), and Geography (Europe, North America, APAC, South America, and Middle East and Africa).

  • End-user Outlook (USD Million, 2017 - 2027)
    • Confectionery
    • Biscuits and bakery products
    • Dairy and desserts
    • Ice creams and frozen items
    • Cereals and others
  • Application Outlook (USD Million, 2017 - 2027)
    • Milk chocolate
    • Dark chocolate
    • White chocolate
  • Region Outlook (USD Million, 2017 - 2027)
    • North America
      • The U.S.
      • Canada
    • Europe
      • The U.K.
      • Germany
      • France
      • Rest of Europe
    • APAC
      • China
      • India
    • Middle East & Africa
      • Saudi Arabia
      • South Africa
      • Rest of the Middle East & Africa
    • South America
      • Chile
      • Brazil
      • Argentina

Industrial Chocolate Market Scope

Report Coverage

Details

Page number

179

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 5.06%

Market growth 2023-2027

USD 2,699.24 million

Market structure

Fragmented

YoY growth (%)

5.02

Regional analysis

Europe, North America, APAC, South America, and Middle East and Africa

Performing market contribution

Europe at 37%

Key countries

US, China, Germany, Belgium, and France

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

Alpezzi Chocolate SA de CV, Barry Callebaut AG, Cargill Inc., CEMOI Group, Chocoladefabriken Lindt and Sprungli AG, Clasen Quality Coatings Inc., Davis Chocolate, Ferrero International S.A., Foleys Candies LP, Fuji Oil Holdings Inc., Guittard Chocolate Co., IRCA Spa, Lotus Chocolate Co. Ltd., Mars Inc., Meiji Holdings Co. Ltd., Mondelez International Inc., NATRA SA, Nestle SA, Puratos Group NV, and The Hershey Co.

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

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What are the Key Data Covered in this Industrial Chocolate Market Report?

  • CAGR of the market during the forecast period
  • Detailed information on factors that will drive the growth of the industrial chocolate market between 2023 and 2027
  • Precise estimation of the industrial chocolate market size and its contribution to the parent market
  • Accurate predictions about upcoming trends and changes in consumer behavior
  • Growth of the industry across Europe, North America, APAC, South America, and Middle East and Africa
  • Thorough analysis of the market’s competitive landscape and detailed information about vendors
  • Comprehensive analysis of factors that will challenge the growth of industrial chocolate market vendors

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by Application
    • Exhibit 07: Executive Summary – Chart on Incremental Growth
    • Exhibit 08: Executive Summary – Data Table on Incremental Growth
    • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 10: Parent market
    • Exhibit 11: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 12: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 13: Market segments
  • 3.3 Market size 2022
    • 3.4 Market outlook: Forecast for 2022-2027
      • Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
      • Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
      • Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
      • Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

    4 Historic Market Size

    • 4.1 Global industrial chocolate market 2017 - 2021
      • Exhibit 18: Historic Market Size – Data Table on Global industrial chocolate market 2017 - 2021 ($ million)
    • 4.2 End-user Segment Analysis 2017 - 2021
      • Exhibit 19: Historic Market Size – End-user Segment 2017 - 2021 ($ million)
    • 4.3 Application Segment Analysis 2017 - 2021
      • Exhibit 20: Historic Market Size – Application Segment 2017 - 2021 ($ million)
    • 4.4 Geography Segment Analysis 2017 - 2021
      • Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)
    • 4.5 Country Segment Analysis 2017 - 2021
      • Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

    5 Five Forces Analysis

    • 5.1 Five forces summary
      • Exhibit 23: Five forces analysis - Comparison between 2022 and 2027
    • 5.2 Bargaining power of buyers
      • Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
    • 5.3 Bargaining power of suppliers
      • Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
    • 5.4 Threat of new entrants
      • Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
    • 5.5 Threat of substitutes
      • Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
    • 5.6 Threat of rivalry
      • Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
    • 5.7 Market condition
      • Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

    6 Market Segmentation by End-user

    • 6.1 Market segments
      • Exhibit 30: Chart on End-user - Market share 2022-2027 (%)
      • Exhibit 31: Data Table on End-user - Market share 2022-2027 (%)
    • 6.2 Comparison by End-user
      • Exhibit 32: Chart on Comparison by End-user
      • Exhibit 33: Data Table on Comparison by End-user
    • 6.3 Confectionery - Market size and forecast 2022-2027
      • Exhibit 34: Chart on Confectionery - Market size and forecast 2022-2027 ($ million)
      • Exhibit 35: Data Table on Confectionery - Market size and forecast 2022-2027 ($ million)
      • Exhibit 36: Chart on Confectionery - Year-over-year growth 2022-2027 (%)
      • Exhibit 37: Data Table on Confectionery - Year-over-year growth 2022-2027 (%)
    • 6.4 Biscuits and bakery products - Market size and forecast 2022-2027
      • Exhibit 38: Chart on Biscuits and bakery products - Market size and forecast 2022-2027 ($ million)
      • Exhibit 39: Data Table on Biscuits and bakery products - Market size and forecast 2022-2027 ($ million)
      • Exhibit 40: Chart on Biscuits and bakery products - Year-over-year growth 2022-2027 (%)
      • Exhibit 41: Data Table on Biscuits and bakery products - Year-over-year growth 2022-2027 (%)
    • 6.5 Dairy and desserts - Market size and forecast 2022-2027
      • Exhibit 42: Chart on Dairy and desserts - Market size and forecast 2022-2027 ($ million)
      • Exhibit 43: Data Table on Dairy and desserts - Market size and forecast 2022-2027 ($ million)
      • Exhibit 44: Chart on Dairy and desserts - Year-over-year growth 2022-2027 (%)
      • Exhibit 45: Data Table on Dairy and desserts - Year-over-year growth 2022-2027 (%)
    • 6.6 Ice creams and frozen items - Market size and forecast 2022-2027
      • Exhibit 46: Chart on Ice creams and frozen items - Market size and forecast 2022-2027 ($ million)
      • Exhibit 47: Data Table on Ice creams and frozen items - Market size and forecast 2022-2027 ($ million)
      • Exhibit 48: Chart on Ice creams and frozen items - Year-over-year growth 2022-2027 (%)
      • Exhibit 49: Data Table on Ice creams and frozen items - Year-over-year growth 2022-2027 (%)
    • 6.7 Cereals and others - Market size and forecast 2022-2027
      • Exhibit 50: Chart on Cereals and others - Market size and forecast 2022-2027 ($ million)
      • Exhibit 51: Data Table on Cereals and others - Market size and forecast 2022-2027 ($ million)
      • Exhibit 52: Chart on Cereals and others - Year-over-year growth 2022-2027 (%)
      • Exhibit 53: Data Table on Cereals and others - Year-over-year growth 2022-2027 (%)
    • 6.8 Market opportunity by End-user
      • Exhibit 54: Market opportunity by End-user ($ million)

    7 Market Segmentation by Application

    • 7.1 Market segments
      • Exhibit 55: Chart on Application - Market share 2022-2027 (%)
      • Exhibit 56: Data Table on Application - Market share 2022-2027 (%)
    • 7.2 Comparison by Application
      • Exhibit 57: Chart on Comparison by Application
      • Exhibit 58: Data Table on Comparison by Application
    • 7.3 Milk chocolate - Market size and forecast 2022-2027
      • Exhibit 59: Chart on Milk chocolate - Market size and forecast 2022-2027 ($ million)
      • Exhibit 60: Data Table on Milk chocolate - Market size and forecast 2022-2027 ($ million)
      • Exhibit 61: Chart on Milk chocolate - Year-over-year growth 2022-2027 (%)
      • Exhibit 62: Data Table on Milk chocolate - Year-over-year growth 2022-2027 (%)
    • 7.4 Dark chocolate - Market size and forecast 2022-2027
      • Exhibit 63: Chart on Dark chocolate - Market size and forecast 2022-2027 ($ million)
      • Exhibit 64: Data Table on Dark chocolate - Market size and forecast 2022-2027 ($ million)
      • Exhibit 65: Chart on Dark chocolate - Year-over-year growth 2022-2027 (%)
      • Exhibit 66: Data Table on Dark chocolate - Year-over-year growth 2022-2027 (%)
    • 7.5 White chocolate - Market size and forecast 2022-2027
      • Exhibit 67: Chart on White chocolate - Market size and forecast 2022-2027 ($ million)
      • Exhibit 68: Data Table on White chocolate - Market size and forecast 2022-2027 ($ million)
      • Exhibit 69: Chart on White chocolate - Year-over-year growth 2022-2027 (%)
      • Exhibit 70: Data Table on White chocolate - Year-over-year growth 2022-2027 (%)
    • 7.6 Market opportunity by Application
      • Exhibit 71: Market opportunity by Application ($ million)

    8 Customer Landscape

    • 8.1 Customer landscape overview
      • Exhibit 72: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    9 Geographic Landscape

    • 9.1 Geographic segmentation
      • Exhibit 73: Chart on Market share by geography 2022-2027 (%)
      • Exhibit 74: Data Table on Market share by geography 2022-2027 (%)
    • 9.2 Geographic comparison
      • Exhibit 75: Chart on Geographic comparison
      • Exhibit 76: Data Table on Geographic comparison
    • 9.3 Europe - Market size and forecast 2022-2027
      • Exhibit 77: Chart on Europe - Market size and forecast 2022-2027 ($ million)
      • Exhibit 78: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
      • Exhibit 79: Chart on Europe - Year-over-year growth 2022-2027 (%)
      • Exhibit 80: Data Table on Europe - Year-over-year growth 2022-2027 (%)
    • 9.4 North America - Market size and forecast 2022-2027
      • Exhibit 81: Chart on North America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 82: Data Table on North America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 83: Chart on North America - Year-over-year growth 2022-2027 (%)
      • Exhibit 84: Data Table on North America - Year-over-year growth 2022-2027 (%)
    • 9.5 APAC - Market size and forecast 2022-2027
      • Exhibit 85: Chart on APAC - Market size and forecast 2022-2027 ($ million)
      • Exhibit 86: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
      • Exhibit 87: Chart on APAC - Year-over-year growth 2022-2027 (%)
      • Exhibit 88: Data Table on APAC - Year-over-year growth 2022-2027 (%)
    • 9.6 South America - Market size and forecast 2022-2027
      • Exhibit 89: Chart on South America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 90: Data Table on South America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 91: Chart on South America - Year-over-year growth 2022-2027 (%)
      • Exhibit 92: Data Table on South America - Year-over-year growth 2022-2027 (%)
    • 9.7 Middle East and Africa - Market size and forecast 2022-2027
      • Exhibit 93: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
      • Exhibit 94: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
      • Exhibit 95: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
      • Exhibit 96: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)
    • 9.8 US - Market size and forecast 2022-2027
      • Exhibit 97: Chart on US - Market size and forecast 2022-2027 ($ million)
      • Exhibit 98: Data Table on US - Market size and forecast 2022-2027 ($ million)
      • Exhibit 99: Chart on US - Year-over-year growth 2022-2027 (%)
      • Exhibit 100: Data Table on US - Year-over-year growth 2022-2027 (%)
    • 9.9 Germany - Market size and forecast 2022-2027
      • Exhibit 101: Chart on Germany - Market size and forecast 2022-2027 ($ million)
      • Exhibit 102: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
      • Exhibit 103: Chart on Germany - Year-over-year growth 2022-2027 (%)
      • Exhibit 104: Data Table on Germany - Year-over-year growth 2022-2027 (%)
    • 9.10 Belgium - Market size and forecast 2022-2027
      • Exhibit 105: Chart on Belgium - Market size and forecast 2022-2027 ($ million)
      • Exhibit 106: Data Table on Belgium - Market size and forecast 2022-2027 ($ million)
      • Exhibit 107: Chart on Belgium - Year-over-year growth 2022-2027 (%)
      • Exhibit 108: Data Table on Belgium - Year-over-year growth 2022-2027 (%)
    • 9.11 France - Market size and forecast 2022-2027
      • Exhibit 109: Chart on France - Market size and forecast 2022-2027 ($ million)
      • Exhibit 110: Data Table on France - Market size and forecast 2022-2027 ($ million)
      • Exhibit 111: Chart on France - Year-over-year growth 2022-2027 (%)
      • Exhibit 112: Data Table on France - Year-over-year growth 2022-2027 (%)
    • 9.12 China - Market size and forecast 2022-2027
      • Exhibit 113: Chart on China - Market size and forecast 2022-2027 ($ million)
      • Exhibit 114: Data Table on China - Market size and forecast 2022-2027 ($ million)
      • Exhibit 115: Chart on China - Year-over-year growth 2022-2027 (%)
      • Exhibit 116: Data Table on China - Year-over-year growth 2022-2027 (%)
    • 9.13 Market opportunity by geography
      • Exhibit 117: Market opportunity by geography ($ million)

    10 Drivers, Challenges, and Trends

    • 10.1 Market drivers
      • 10.2 Market challenges
        • 10.3 Impact of drivers and challenges
          • Exhibit 118: Impact of drivers and challenges in 2022 and 2027
        • 10.4 Market trends

          11 Vendor Landscape

          • 11.1 Overview
            • 11.2 Vendor landscape
              • Exhibit 119: Overview on Criticality of inputs and Factors of differentiation
            • 11.3 Landscape disruption
              • Exhibit 120: Overview on factors of disruption
            • 11.4 Industry risks
              • Exhibit 121: Impact of key risks on business

            12 Vendor Analysis

            • 12.1 Vendors covered
              • Exhibit 122: Vendors covered
            • 12.2 Market positioning of vendors
              • Exhibit 123: Matrix on vendor position and classification
            • 12.3 Barry Callebaut AG
              • Exhibit 124: Barry Callebaut AG - Overview
              • Exhibit 125: Barry Callebaut AG - Business segments
              • Exhibit 126: Barry Callebaut AG - Key news
              • Exhibit 127: Barry Callebaut AG - Key offerings
              • Exhibit 128: Barry Callebaut AG - Segment focus
            • 12.4 Cargill Inc.
              • Exhibit 129: Cargill Inc. - Overview
              • Exhibit 130: Cargill Inc. - Product / Service
              • Exhibit 131: Cargill Inc. - Key news
              • Exhibit 132: Cargill Inc. - Key offerings
            • 12.5 CEMOI Group
              • Exhibit 133: CEMOI Group - Overview
              • Exhibit 134: CEMOI Group - Product / Service
              • Exhibit 135: CEMOI Group - Key offerings
            • 12.6 Chocoladefabriken Lindt and Sprungli AG
              • Exhibit 136: Chocoladefabriken Lindt and Sprungli AG - Overview
              • Exhibit 137: Chocoladefabriken Lindt and Sprungli AG - Business segments
              • Exhibit 138: Chocoladefabriken Lindt and Sprungli AG - Key news
              • Exhibit 139: Chocoladefabriken Lindt and Sprungli AG - Key offerings
              • Exhibit 140: Chocoladefabriken Lindt and Sprungli AG - Segment focus
            • 12.7 Clasen Quality Coatings Inc.
              • Exhibit 141: Clasen Quality Coatings Inc. - Overview
              • Exhibit 142: Clasen Quality Coatings Inc. - Product / Service
              • Exhibit 143: Clasen Quality Coatings Inc. - Key offerings
            • 12.8 Ferrero International S.A.
              • Exhibit 144: Ferrero International S.A. - Overview
              • Exhibit 145: Ferrero International S.A. - Product / Service
              • Exhibit 146: Ferrero International S.A. - Key offerings
            • 12.9 Fuji Oil Holdings Inc.
              • Exhibit 147: Fuji Oil Holdings Inc. - Overview
              • Exhibit 148: Fuji Oil Holdings Inc. - Business segments
              • Exhibit 149: Fuji Oil Holdings Inc. - Key news
              • Exhibit 150: Fuji Oil Holdings Inc. - Key offerings
              • Exhibit 151: Fuji Oil Holdings Inc. - Segment focus
            • 12.10 Guittard Chocolate Co.
              • Exhibit 152: Guittard Chocolate Co. - Overview
              • Exhibit 153: Guittard Chocolate Co. - Product / Service
              • Exhibit 154: Guittard Chocolate Co. - Key offerings
            • 12.11 Mars Inc.
              • Exhibit 155: Mars Inc. - Overview
              • Exhibit 156: Mars Inc. - Product / Service
              • Exhibit 157: Mars Inc. - Key offerings
            • 12.12 Meiji Holdings Co. Ltd.
              • Exhibit 158: Meiji Holdings Co. Ltd. - Overview
              • Exhibit 159: Meiji Holdings Co. Ltd. - Business segments
              • Exhibit 160: Meiji Holdings Co. Ltd. - Key news
              • Exhibit 161: Meiji Holdings Co. Ltd. - Key offerings
              • Exhibit 162: Meiji Holdings Co. Ltd. - Segment focus
            • 12.13 Mondelez International Inc.
              • Exhibit 163: Mondelez International Inc. - Overview
              • Exhibit 164: Mondelez International Inc. - Business segments
              • Exhibit 165: Mondelez International Inc. - Key news
              • Exhibit 166: Mondelez International Inc. - Key offerings
              • Exhibit 167: Mondelez International Inc. - Segment focus
            • 12.14 NATRA SA
              • Exhibit 168: NATRA SA - Overview
              • Exhibit 169: NATRA SA - Product / Service
              • Exhibit 170: NATRA SA - Key offerings
            • 12.15 Nestle SA
              • Exhibit 171: Nestle SA - Overview
              • Exhibit 172: Nestle SA - Business segments
              • Exhibit 173: Nestle SA - Key news
              • Exhibit 174: Nestle SA - Key offerings
              • Exhibit 175: Nestle SA - Segment focus
            • 12.16 Puratos Group NV
              • Exhibit 176: Puratos Group NV - Overview
              • Exhibit 177: Puratos Group NV - Product / Service
              • Exhibit 178: Puratos Group NV - Key offerings
            • 12.17 The Hershey Co.
              • Exhibit 179: The Hershey Co. - Overview
              • Exhibit 180: The Hershey Co. - Business segments
              • Exhibit 181: The Hershey Co. - Key news
              • Exhibit 182: The Hershey Co. - Key offerings
              • Exhibit 183: The Hershey Co. - Segment focus

            13 Appendix

            • 13.1 Scope of the report
              • 13.2 Inclusions and exclusions checklist
                • Exhibit 184: Inclusions checklist
                • Exhibit 185: Exclusions checklist
              • 13.3 Currency conversion rates for US$
                • Exhibit 186: Currency conversion rates for US$
              • 13.4 Research methodology
                • Exhibit 187: Research methodology
                • Exhibit 188: Validation techniques employed for market sizing
                • Exhibit 189: Information sources
              • 13.5 List of abbreviations
                • Exhibit 190: List of abbreviations
              • food allergy among consumers: There is an increase in the number of people suffering from food allergies globally. Food allergy is caused when the immune system reacts to the ingestion of certain foods. Ingredients of packaged foods and meats that can create allergic reactions in some people include (but are not limited to) milk, eggs, fish, crustacean shellfish (e.g., crab, lobster, and shrimp), tree nuts (e.g., almonds, walnuts, and pecan), peanuts, wheat, and soybeans. Even consumption of small amounts of food allergens can trigger signs and symptoms such as digestive problems, hives, and swollen airways. In some people, a food allergy can cause severe symptoms, or even a life-threatening reaction is, known as anaphylaxis. For example, in the US, nearly 3% of the adult population suffers from shellfish allergy.

                Research Framework

                Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

                TechnavioINFORMATION SOURCES

                Primary sources

                • Manufacturers and suppliers
                • Channel partners
                • Industry experts
                • Strategic decision makers

                Secondary sources

                • Industry journals and periodicals
                • Government data
                • Financial reports of key industry players
                • Historical data
                • Press releases
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                TechnavioDATA ANALYSIS

                Data Synthesis

                • Collation of data
                • Estimation of key figures
                • Analysis of derived insights

                Data Validation

                • Triangulation with data models
                • Reference against proprietary databases
                • Corroboration with industry experts
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                TechnavioREPORT WRITING

                Qualitative

                • Market drivers
                • Market challenges
                • Market trends
                • Five forces analysis

                Quantitative

                • Market size and forecast
                • Market segmentation
                • Geographical insights
                • Competitive landscape
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                Industrial Chocolate market growth will increase by $2699.24 million during 2023-2027.
                The industrial chocolate market is expected to grow at a CAGR of 5.06% during 2023-2027.
                Technavio has segmented the industrial chocolate market by end-user (Confectionery, Biscuits and bakery products, Dairy and desserts, Ice creams and frozen items, and Cereals others) ,application (Milk chocolate, Dark chocolate, White chocolate, South America, and MEA) , and geography (Europe, North America, APAC, South America, and Middle East and Africa).
                Alpezzi Chocolate SA de CV, Barry Callebaut AG, Cargill Inc., CEMOI Group, Chocoladefabriken Lindt and Sprungli AG, Clasen Quality Coatings Inc., Davis Chocolate, Ferrero International S.A., Foleys Candies LP, Fuji Oil Holdings Inc., Guittard Chocolate Co., IRCA Spa, Lotus Chocolate Co. Ltd., Mars Inc., Meiji Holdings Co. Ltd., Mondelez International Inc., NATRA SA, Nestle SA, Puratos Group NV, The Hershey Co. are a few of the key vendors in the industrial chocolate market.
                Europe will register the highest growth rate of 37.14% among the other regions. Therefore, the industrial chocolate market in Europe is expected to garner significant business opportunities for the vendors during the forecast period.
                The key factors driving the industrial chocolate market growth are:
                • Growing consumer awareness about the health benefits of dark chocolate
                • Growing vendor emphasis on sustainable cocoa production
                The industrial chocolate market vendors should focus on grabbing business opportunities from the confectionery segment as it accounted for the largest market share in the base year.
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