Market Overview:
North-American industrial chocolate market has witnessed continued demand during the last few years and is projected to reach 3,630 Kilo Metric tonnes at a CAGR of 9.03% by 2022 in terms of production volume. North-American industrial chocolate market has witnessed substantial innovation in flavor and texture, including flavors such as beer and yoghurt capturing consumer attention. Flavors like spices, herbs, floral extracts and ingredients including nuts, cereals like granola and muesli, vegetables and fruits. Flavors and textures in superior products have been modified by including sweet and salty, unique flavors, textures made to crunchy and crispy. Increased adoption in new flavors and forms are boosting higher demand for industrial chocolate in North America.
Among the various types of industrial chocolate in North-America, milk-chocolate is projected to reach at 1,823 Kilo Metric tonnes at a CAGR of 8.06% by 2022 in terms of production volume. Milk chocolate will continue to dominate the North-American market followed by dark-chocolate. Volume-wise share will be highest in the milk and dark chocolates by 2022. Low-calories features of dark-chocolate in comparison to other chocolates will drive higher demand for dark-chocolate. Growing demand from the niche applications like chocolate truffles will boost demand for white chocolate.
U.S. has unique position in the North-American industrial chocolate market followed by Canada. U.S. and Canada together forms the largest market not only in North-America but also compete with European countries leading in industrial chocolate market in terms of exports. U.S. being one of the largest chocolate producers and consumers will gain traction for industrial chocolate production. Chocolate bars forms the major share and is expected to grow at a faster rate due to comparatively higher long-shelf life than flavoring ingredients and its preferable industrial applications.
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By 2022, U.S. will continue to dominate the industrial chocolate market with a share of 71% and projected to grow to 2,582 Kilo Metric tonnes. North-American industrial chocolate market will find its applications majorly in the chocolate bar which is projected to 3,292 Kilo Metric Tonnes which will grow at a CAGR at 6.6%.
Major Key Players:
The leading market players in the North American real and compound chocolate market primarily are Mars Inc., Nestle, Mondelez International Inc, Puratos and Barry Callebaut.
Table of Contents:
1 Executive Summary
2 Introduction
3 Research Methodology
4 Market Dynamics
5 Market Factor Analysis
6 North America Real and Compound Chocolate Market, by Main Ingredient
7 North American Real and Compound Chocolate by Type
8 North American Real and Compound Chocolate- by Form
9 North-American Real and Compound Chocolate- by Application
Continued……
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Key Findings:
- In 2015, dark chocolate accounted for the highest share and grow at rate of 8.9 %
- Food and beverage application segment is expected to witness the highest CAGR of 5.3% from 2016 to 2022 owing to emerging demand of chocolate by restaurants and caterers.
- The U.S. real and compound chocolate market held more than 60% of the North American real and compound chocolate market in 2015.
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