The natural and organic trend in the F&B sector is likely to be the prime influencer of the chocolate flavoring compounds market. Manufacturers in the chocolate flavoring compounds market are actively engaged in introducing organic or natural chocolate flavoring compounds. In addition, demand for chocolate flavoring compounds is on the rise owing to the presence of high polyphenol levels in the cocoa or chocolate that are nutritionally beneficial. In addition, several epidemiological studies have observed that intake of dark chocolate rich in polyphenol can prevent heart-related diseases, in turn increasing importance of chocolate flavoring compounds. Dissemination of knowledge regarding health benefits of chocolate is likely to bode well for the chocolate flavoring compounds market in the near future.
Growing appetite for chocolate flavor and increasing popularity of chocolates is another driver propelling the growth of the chocolate flavoring compounds market. In particular, the flourishing supplement industry has identified consumers’ palate for chocolate flavors and have introduced a range of chocolate-flavored protein and nutritional supplements, in turn driving the chocolate flavoring compounds market. Amid the growing health consciousness and low-sugar preference of consumers, health benefits of cocoa and introduction of healthier chocolate flavoring compounds are likely to propel the chocolate flavoring compounds market in the future.
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Market Outlook for Chocolate Flavoring Compounds Market
A chocolate flavoring compound is a mixture of various ingredients such as vegetable fats, sugars, cocoa powder and other flavors which are used to impart chocolaty flavor to the desired food product. Chocolate flavoring compounds are the base ingredients used to manufacture commercially consumed confectionery chocolates. Despite the growing health trends, the chocolate flavoring compounds market is expected to witness growth due to modifications in the traditionally consumed chocolate flavoring compounds such as reduction of sugar and protein fortification. Basically, according to the standards set by the FDA, chocolate flavoring compounds are more flexible than chocolate standards and hence can be developed into a wide range of varieties with respect to flavor, color and performance.
Reasons for Covering this Title
The growth in the confectionery vertical is also likely to support the growth of the chocolate flavoring compounds market. Nowadays, the finished product suppliers are also exhibiting interest in confectionery coatings, which is likely to boost the growth of the chocolate flavoring compounds market. However, the high cocoa bean prices may tamper with the growth of the chocolate flavoring compounds market. This has led to difficulty in passing on the price rise to consumers and consequently, the profit margins are squeezed. Other factors such as legislation and strict regulations circulating around the negative shift of the fat and sugar in the chocolate flavoring compounds have led to declining exports in Europe and stagnating demand. On the positive side, personalization is a trend observed in the chocolate flavoring compounds market, such as the emergence of retail stores which enable the consumers to design and shape their own chocolate bars, are becoming increasingly common. In addition, marketing the chocolate flavoring compounds which can be paired with vegetables and other protein-rich foods are also enabling the manufacturers to expand their consumer base by targeting the health conscious demo graph.
Global Chocolate Flavoring Compounds Market: Segmentation
The chocolate flavoring compounds market is segmented on the basis of product type, product form and end use.
On the basis of product type, the chocolate flavoring compounds market is segmented as-
On the basis of product form, the chocolate flavoring compounds market is segmented as-
On the basis of end use, the chocolate flavoring compounds market is segmented as-
- chocolate beverages
- Frozen desserts
- Sauces & spreads
- Convenience food
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Global Chocolate Flavoring Compounds Market: Key Players
Some of the key players operating in the global chocolate flavoring compounds market are Clover Hill Food Ingredients Ltd, Cargill, Incorporated, ADM WILD Europe GmbH & Co.KG, Nestlé, Wilmar International Limited, PURATOS, Shellz Overseas Pvt. Ltd., INFORUM Group, Buhler AG,Barry Callebaut, Unigrà S.r.l., Blommer Chocolate Company, CEMOI and HERZA Schokolade GmbH & Co. KG.
Global Chocolate Flavoring Compounds Market: Key Takeaways
In 2016, the company Puratos a launched a new product- 100% sustainable cocoa powder premium compound coatings. In 2012, the company also adopted the use of certified sustainable palm oil in its compound products.