HOME Top Market Reports Chocolate Flavors Market by Application (Confectionery, Dairy & Hot Drinks, Bakery Products, Frozen Products, Convenience Products, Others) & Region (North America, Europe, Asia-Pacific, Latin America, Rest of the World) - Global Trends & Forecast to 2019

Chocolate Flavors Market by Application (Confectionery, Dairy & Hot Drinks, Bakery Products, Frozen Products, Convenience Products, Others) & Region (North America, Europe, Asia-Pacific, Latin America, Rest of the World) - Global Trends & Forecast to 2019

By: marketsandmarkets.com
Publishing Date: March 2015
Report Code: FB 3289

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Chocolate flavors are known for their high cocoa content. They are typically sweet, usually brown, and used as flavoring ingredients in various food & beverage preparations. It also offers the advantage of a nutritional profile with health benefits such potential to lower blood pressure & cholesterol and reduce the risk of strokes. They are used extensively in baked food, dairy products, snacks, confectionery, and drinks.

The market is segmented according to its usage in various applications and in different regions. The applications include bakery, dairy, beverages, confectionery, and functional food. The market is driven by increasing sustainable cocoa farming practices, cocoa production and supply chain, growing economies, high seasonal & festive demands, technological advancements, and growing health and nutrition awareness.

This report provides a detailed analysis of the chocolate flavors market, which includes market dynamics such as drivers, restraints, opportunities, and challenges faced by key players. The market size includes a geographic segmentation of the chocolate flavors market, which includes North America, Europe, Asia-Pacific, Latin America and Rest of the World (RoW). The market is further segmented on the basis of the key countries in these regions.

Chocolate Flavors Market Size, by Region, 2014 ($Thousand)

Chocolate Flavors Market

Source: Company Website, Company Annual Reports, FAO, ICCO, COMTRADE, and MarketsandMarkets Analysis

The chocolate flavors market is projected to grow at a CAGR of 5.0% to reach a value of more than $350 million by 2019. Key players in this market prefer strategic acquisitions and expansions to expand their global network and their chocolate flavors business segment in new geographies.

This report provides qualitative analyses of the leading players in the market. It also enumerates the development strategies preferred by leading market players. The market dynamics in terms of market drivers, restraints, opportunities, and challenges are discussed in detail in the report.

Key players such as Archer Daniels Midland Company (U.S.), Cargill, Incorporated (U.S.), Barry Callebaut AG (Switzerland), Olam International Limited (Singapore), and International Flavors & Fragrances, Inc. (U.S.) have been profiled in the report.

Scope of the Report

This report focuses on the chocolate flavors market, which is segmented on the basis of application and region.

On the basis of application, the market has been segmented as follows:

  • Bakery products
  • Dairy & hot drinks
  • Confectionery
  • Frozen products
  • Convenience foods
  • Others

On the basis of region, the market has been segmented as follows:

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • RoW

Table of Contents
 
1 Introduction
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Study Scope
           1.3.1 Chocolate Flavors Market, By Application
           1.3.2 Chocolate Flavors Market, By Region
           1.3.3 Periodization Considered for the Chocolate Flavors Market
    1.4 Base Currency Considered for the Chocolate Flavors Market
    1.5 Packaging Size
    1.6 Limitations
    1.7 Stakeholders

2 Research Methodology
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Breakdown of Primaries
    2.2 Factor Analysis
           2.2.1 Introduction
           2.2.2 Demand-Side Analysis
                    2.2.2.1 Developing Economies
                    2.2.2.2 Growing Middle-Class Population, 2009–2030
           2.2.3 Supply-Side Analysis
                    2.2.3.1 Cocoa Production
                    2.2.3.2 Investment Projects
    2.3 Market Size Estimation
    2.4 Market Breakdown & Data Triangulation
    2.5 Market Share Estimation
    2.6 Research Assumptions & Limitations
           2.6.1 Assumptions of the Research Study
           2.6.2 Limitations of the Research Study

3 Executive Summary
    3.1 Overview
           3.1.1 Evolution
    3.2 Chocolate Flavors
    3.3 Europe is the Fastest-Growing Market for Chocolate Flavor Applications
    3.4 Food Application of Chocolate Flavors
    3.5 Key Players in the Chocolate Flavors Market

4 Premium Insights
    4.1 Opportunities in Chocolate Flavors Market
    4.2 U.S. to Be the Largest Chocolate Flavors Market in 2014
    4.3 Life Cycle Analysis: Chocolate Flavors Market, By Region
    4.4 Chocolate Flavors Market, By Region, 2014 vs. 2019
    4.5 Europe Was the Largest Chocolate Flavors Market, 2013
    4.6 Developed vs. Emerging Chocolate Flavors Market, 2014 vs. 2019
    4.7 Chocolate Flavors Market, By Application, 2013
    4.8 Asia-Pacific: Chocolate Flavors Market, 2013
    4.9 Competitive Landscape in Chocolate Flavors Market, 2011–2013

5 Industry Analysis
    5.1 Introduction
    5.2 Supply Chain Analysis
           5.2.1 Growers
           5.2.2 Intermediaries
           5.2.3 Cocoa Processors
           5.2.4 End-Product Manufacturers
           5.2.5 Retailers
           5.2.6 Organizations & Regulatory Bodies
    5.3 Value Chain Analysis
    5.4 Industry Insights
           5.4.1 International Cocoa Organization
                    5.4.1.1 Sps Africa
                    5.4.1.2 Integrated Management of Cocoa Pests and Pathogens
                    5.4.1.3 Capacity Building on Price Risk Management Strategy for Cocoa Smallholder Farmers in Africa
           5.4.2 Porter’s Five Forces Analysis
                    5.4.2.1 Intensity of Competitive Rivalry
                    5.4.2.2 Bargaining Power of Suppliers
                    5.4.2.3 Bargaining Power of Buyers
                    5.4.2.4 Threat of Substitutes
                    5.4.2.5 Threat of New Entrants
    5.5 Pest Analysis
           5.5.1 Political Factors
                    5.5.1.1 Civil Wars & Election Protests in the Ivory Coast
           5.5.2 Economic Factors
                    5.5.2.1 Unpredictable Economic Condition of Ivory Coast
                    5.5.2.2 Lack of Infrastructure in Developing Countries
           5.5.3 Social Factors
                    5.5.3.1 Child & Forced Labor
                    5.5.3.2 Challenges Faced By Farmers in Cocoa-Producing Countries
           5.5.4 Technological Factors

6 Market Overview
    6.1 Introduction
           6.1.1 Global Cocoa Production
           6.1.2 Varieties of Cocoa
                    6.1.2.1 Criollo
                    6.1.2.2 Forastero
                    6.1.2.3 Trinitario
           6.1.3 Global Cocoa Prices
           6.1.4 Cocoa Processing
    6.2 Market Segmentation
           6.2.1 Chocolate Flavors Market, By Application
           6.2.2 Chocolate Flavors Market, By Region
    6.3 Market Dynamics
           6.3.1 Drivers
                    6.3.1.1 Health Benefits of Chocolate
                    6.3.1.2 Large Number of Applications
           6.3.2 Restraints
                    6.3.2.1 Highly Unstable Economies in Cocoa-Producing Countries
                    6.3.2.2 Excess Dependence on West African Countries for Cocoa Supply
           6.3.3 Opportunities
                    6.3.3.1 Organic & Fairtrade Chocolates
                    6.3.3.2 Penetration in Emerging Countries
                    6.3.3.3 Application in Functional Food & Pharmaceutical Products
           6.3.4 Challenge
                    6.3.4.1 Changing Consumer Preferences

7 Key Brands  
    7.1 Introduction
           7.1.1 Archer Daniels Midland Company
                    7.1.1.1 Ambrosia
                    7.1.1.2 Merckens
                    7.1.1.3 Dezaan
           7.1.2 Cargill, Incorporated
                    7.1.2.1 Wilbur Chocolate
                    7.1.2.2 Peter’s Chocolate
                    7.1.2.3 Gerkens Cocoa
           7.1.3 Olam International Limited
                    7.1.3.1 MACAO
           7.1.4 Barry Callebaut AG
                    7.1.4.1 Bensdorp (Barry Callebaut)

8 Chocolate Flavors Market, By Application
    8.1 Introduction
    8.2 Confectionery
    8.3 Dairy & Hot Drinks
    8.4 Bakery Products
    8.5 Frozen Products
    8.6 Convenience Products
    8.7 Other Food Products

9 Chocolate Flavors Market, By Region
    9.1 Introduction
    9.2 North America
           9.2.1 U.S.
           9.2.2 Canada
           9.2.3 Mexico
    9.3 Europe
           9.3.1 Germany
           9.3.2 France
           9.3.3 U.K.
           9.3.4 Spain
           9.3.5 Italy
           9.3.6 Belgium
           9.3.7 the Netherlands
           9.3.8 Rest of Europe
    9.4 Asia-Pacific
           9.4.1 China
           9.4.2 Japan
           9.4.3 India
           9.4.4 South Korea
           9.4.5 Southeast Asia
           9.4.6 Rest of Asia-Pacific
    9.5 Latin America
           9.5.1 Brazil
           9.5.2 Argentina
           9.5.3 Rest of Latin America
    9.6 Rest of the World (ROW)
           9.6.1 South Africa
           9.6.2 The Middle East
           9.6.3 Rest of Africa

10 Competitive Landscape
     10.1 Overview
     10.2 Chocolate Flavors Market Share Analysis (2013)
     10.3 Competitive Situation & Trends
     10.4 Chocolate Flavor Market Developments (2010–2015*)
     10.5 Expansions & Investments
     10.6 Agreements, Partnerships, Joint Ventures & Collaborations
     10.7 Acquisitions
     10.8 New Product Launches

11 Company Profiles
     11.1 Introduction
     11.2 Archer Daniels Midland Company
             11.2.1 Business Overview
             11.2.2 Products
             11.2.3 Key Strategies
             11.2.4 Recent Developments
             11.2.5 SWOT Analysis
             11.2.6 MNM View
     11.3 Barry Callebaut
             11.3.1 Business Overview
             11.3.2 Products
             11.3.3 Key Strategies
             11.3.4 Recent Developments
             11.3.5 SWOT Analysis
             11.3.6 MNM View
     11.4 Blommer Chocolate Company
             11.4.1 Business Overview
             11.4.2 Products
             11.4.3 Key Strategies
             11.4.4 Recent Developments
             11.4.5 MNM View
     11.5 Cargill, Incorporated
             11.5.1 Business Overview
             11.5.2 Products
             11.5.3 Key Strategies
             11.5.4 Recent Developments
             11.5.5 SWOT Analysis
             11.5.6 MNM View
     11.6 CEMOI Group
             11.6.1 Business Overview
             11.6.2 Products
             11.6.3 Key Strategies
             11.6.4 Recent Developments
             11.6.5 MNM View
     11.7 Frutarom Industries Ltd.
             11.7.1 Business Overview
             11.7.2 Products
             11.7.3 Key Strategy
             11.7.4 Recent Developments
             11.7.5 MNM View
     11.8 Givaudan S.A.
             11.8.1 Business Overview
             11.8.2 Products
             11.8.3 Key Strategies
             11.8.4 Recent Developments
             11.8.5 SWOT Analysis
     11.9 International Flavors & Fragrances Inc.
             11.9.1 Business Overview
             11.9.2 Products
             11.9.3 Key Strategies
             11.9.4 Developments
             11.9.5 SWOT Analysis
             11.9.6 MNM View
     11.10 Olam International Ltd.
             11.10.1 Business Overview
             11.10.2 Products
             11.10.3 Key Strategies
             11.10.4 Recent Developments
             11.10.5 SWOT Analysis
             11.10.6 MNM View
     11.11 Puratos Group
             11.11.1 Business Overview
             11.11.2 Products
             11.11.3 Key Strategies
             11.11.4 Recent Developments
             11.11.5 SWOT Analysis
             11.11.6 MNM View

12 Appendix
     12.1 Insights of Industry Experts
     12.2 Discussion Guide
     12.3 Available Customizations
     12.4 Related Reports
  
 
List of Tables (84 Tables)
 
Table 1 U.S. Tolerance Limit for Pesticide Residue in Cocoa Beans (Cacao Beans)
Table 2 Health Benefits of Chocolate Drive the Market Growth
Table 3 Nutrient Content of Different Chocolate Forms/100g
Table 4 Growth of Application Market
Table 5 Unstable Economic Conditions Affect the Market Growth
Table 6 Organic & Fairtrade Chocolate Offer Growth Opportunities in the Market
Table 7 Type of Cocoa and Its Food Application
Table 8 Chocolate Flavors Market Size, By Application, 2012–2019 (MT)
Table 9 Chocolate Flavors Market Size, By Application, 2012–2019 ($Thousand)
Table 10 Chocolate Flavors Market Size in Confectionery, By Region, 2012–2019 (MT)
Table 11 Chocolate Flavors Market Size in Confectionery, By Region, 2012–2019 ($Thousand)
Table 12 Chocolate Flavors Market Size in Dairy & Hot Drinks, By Region, 2012–2019 (MT)
Table 13 Chocolate Flavors Market Size in Dairy & Hot Drinks, By Region, 2012–2019 ($Thousand)
Table 14 Chocolate Flavors Market Size in Bakery Products, By Region, 2012–2019 (MT)
Table 15 Chocolate Flavors Market Size in Bakery Products, By Region, 2012–2019 ($Thousand)
Table 16 Chocolate Flavors Market Size in Frozen Products, By Region, 2012–2019 (MT)
Table 17 Chocolate Flavors Market Size in Frozen Products, By Region, 2012–2019 ($Thousand)
Table 18 Chocolate Flavors Market Size in Convenience Foods, By Region, 2012–2019 (MT)
Table 19 Chocolate Flavors Market Size in Convenience Foods, By Region, 2012–2019 ($Thousand)
Table 20 Chocolate Flavors Market Size in Other Food Products, By Region, 2012–2019 (MT)
Table 21 Chocolate Flavors Market Size in Other Food Products, By Region, 2012–2019 ($Thousand)
Table 22 Factors That Can Influence Cocoa Prices in Next Five Years
Table 23 Chocolate Flavors Market Size, By Region, 2012–2019 (MT)
Table 24 Chocolate Flavors Market Size, By Region, 2012–2019 ($Thousand)
Table 25 North America: Chocolate Flavors Market Size, By Country, 2012–2019 (MT)
Table 26 North America: Market Size, By Country, 2012–2019 ($Thousand)
Table 27 U.S.: Chocolate Flavors Market Size, By Application, 2012–2019 (MT)
Table 28 U.S.: Market Size, By Application, 2012–2019 ($Thousand)
Table 29 Canada: Chocolate Flavors Market Size, By Application, 2012–2019 (MT)
Table 30 Canada: Market Size, By Application, 2012–2019 ($Thousand)
Table 31 Mexico: Chocolate Flavors Market Size, By Application, 2012–2019 (MT)
Table 32 Mexico: Market Size, By Application, 2012–2019 ($Thousand)
Table 33 Europe: Chocolate Flavors Market Size, By Country, 2012–2019 (MT)
Table 34 Europe: Market Size, By Country, 2012–2019 ($Thousand)
Table 35 Germany: Chocolate Flavors Market Size, By Application, 2012–2019 (MT)
Table 36 Germany: Market Size, By Application, 2012–2019 ($Thousand)
Table 37 France: Chocolate Flavors Market Size, By Application, 2012–2019 (MT)
Table 38 France: Market Size, By Application, 2012–2019 ($Thousand)
Table 39 U.K.: Chocolate Flavors Market Size, By Application, 2012–2019 (MT)
Table 40 U.K.: Market Size, By Application, 2012–2019 ($Thousand)
Table 41 Spain: Chocolate Flavors Market Size, By Application, 2012–2019 (MT)
Table 42 Spain: Market Size, By Application, 2012–2019 ($Thousand)
Table 43 Italy: Chocolate Flavors Market Size, By Application, 2012–2019 (MT)
Table 44 Italy: Market Size, By Application, 2012–2019 ($Thousand)
Table 45 Belgium: Chocolate Flavors Market Size, By Application, 2012–2019 (MT)
Table 46 Belgium: Market Size, By Application, 2012–2019 ($Thousand)
Table 47 The Netherlands: Chocolate Flavors Market Size, By Application, 2012–2019 (MT)
Table 48 The Netherlands: Market Size, By Application, 2012–2019 ($Thousand)
Table 49 Rest of Europe: Chocolate Flavors Market Size, By Application, 2012–2019 (MT)
Table 50 Rest of Europe: Market Size, By Application, 2012–2019 ($Thousand)
Table 51 Asia-Pacific: Chocolate Flavors Market Size, By Country, 2012–2019 (MT)
Table 52 Asia-Pacific: Market Size, By Country, 2012–2019 ($Thousand)
Table 53 China: Chocolate Flavors Market Size, By Application, 2012–2019 (MT)
Table 54 China: Market Size, By Application, 2012–2019 ($Thousand)
Table 55 Japan: Chocolate Flavors Market Size, By Application, 2012–2019 (MT)
Table 56 Japan: Market Size, By Application, 2012–2019 ($Thousand)
Table 57 India: Chocolate Flavors Market Size, By Application, 2012–2019 (MT)
Table 58 India: Market Size, By Application, 2012–2019 ($Thousand)
Table 59 South Korea: Chocolate Flavors Market Size, By Application, 2012–2019 (MT)
Table 60 South Korea: Market Size, By Application, 2012–2019 ($Thousand)
Table 61 Southeast Asia: Chocolate Flavors Market Size, By Application, 2012–2019 (MT)
Table 62 Southeast Asia: Market Size, By Application, 2012–2019 ($Thousand)
Table 63 Rest of Asia-Pacific: Chocolate Flavors Market Size, By Application, 2012–2019 (MT)
Table 64 Rest of Asia-Pacific: Market Size, By Application, 2012–2019 ($Thousand)
Table 65 Latin America: Chocolate Flavors Market Size, By Country, 2012–2019 (MT)
Table 66 Latin America: Market Size, By Country, 2012–2019 ($Thousand)
Table 67 Brazil: Chocolate Flavors Market Size, By Application, 2012–2019 (MT)
Table 68 Brazil: Market Size, By Application, 2012–2019 ($Thousand)
Table 69 Argentina: Chocolate Flavors Market Size, By Application, 2012–2019 (MT)
Table 70 Argentina: Market Size, By Application, 2012–2019 ($Thousand)
Table 71 Rest of Latin America: Chocolate Flavors Market Size, By Application, 2012–2019 (MT)
Table 72 Rest of Latin America: Market Size, By Application, 2012–2019 ($Thousand)
Table 73 ROW: Chocolate Flavors Market Size, By Country, 2012–2019 (MT)
Table 74 ROW: Market Size, By Country, 2012–2019 ($Thousand)
Table 75 South Africa: Chocolate Flavors Market Size, By Application, 2012–2019 (MT)
Table 76 South Africa: Market Size, By Application, 2012–2019 ($Thousand)
Table 77 The Middle East: Chocolate Flavors Market Size, By Application, 2012–2019 (MT)
Table 78 The Middle East: Market Size, By Application, 2012–2019 ($Thousand)
Table 79 Rest of Africa: Chocolate Flavors Market Size, By Application, 2012–2019 (MT)
Table 80 Rest of Africa: Market Size, By Application, 2012–2019 ($Thousand)
Table 81 Expansions & Investments,  2011–2014
Table 82 Agreements, Partnerships, Joint Ventures & Collaborations, 2010-2014
Table 83 Acquisitions, 2013–2015
Table 84 New Product Launches, 2011-2014
  
 
List of Figures (67 Figures)
 
Figure 1 Chocolate Flavors Market: Research Design
Figure 2 Factors Influencing the Cocoa & Chocolate Industry
Figure 3 Top 5 Economies Based on GDP (PPP) Are U.S., China, India, Japan, & Germany
Figure 4 Middle-Class Population in Asia-Pacific is Projected to Grow & Account for the Largest Share in the Global Market By 2030
Figure 5 Market Size Estimation Methodology: Bottom-Up Approach
Figure 6 Market Size Estimation Methodology: Top-Down Approach
Figure 7 Data Triangulation Methodology
Figure 8 Assumption of the Research Study
Figure 9 Limitations of the Research Study
Figure 10 Evolution of the Cocoa & Chocolate Industry
Figure 11 Chocolate Flavors Market Share (Value), Geographical Overview, 2014
Figure 12 Market in Europe to Grow at the Highest Rate
Figure 13 Chocolate Flavors Market Snapshot (2014 vs. 2019): Application in Dairy & Hot Drinks to Drive Market Growth
Figure 14 Share of Leading Companies in Chocolate Flavors Market, 2013
Figure 15 Demand for New Flavors & Innovative Products Present Attractive Growth Opportunities for Chocolate Flavors Market
Figure 16 U.S. Estimated to Be the Largest Market, 2014
Figure 17 Chocolate Flavors Market is in the Growth Phase, 2014
Figure 18 European Market is Projected to Record High Growth Between 2014 & 2019
Figure 19 Dairy & Hot Drinks Was the Largest Application Segment of Chocolate Flavors Market in Europe, 2013
Figure 20 The Market in China is Projected to Grow at the Highest CAGR
Figure 21 Dairy & Hot Drinks Was the Largest Application Segment in the Market, 2013
Figure 22 Japan Accounted for the Largest Share in the Asia-Pacific Chocolate Flavors Market, 2013
Figure 23 Key Companies Accounted for More Than 50% Share in the Chocolate Flavors Market
Figure 24 Cocoa & Chocolate Market: Manufacturer & Distribution Channels
Figure 25 Value Chain Analysis of Cocoa & Chocolate Market
Figure 26 Porters’ Five Forces Analysis
Figure 27 Global Cocoa Production, By Region, 2014
Figure 28 Cocoa Prices 2009-2014 (‘000 USD/MT)
Figure 29 Cocoa Processing
Figure 30 Chocolate Flavors Market, By Application
Figure 31 Chocolate Flavors Market, By Region
Figure 32 ORAC Value of High-Flavanol Containing Foods
Figure 33 Europe Drives the Market Growth for Confectionery Segment
Figure 34 Innovative Products Launched By Coffeehouses Drives the Market Growth
Figure 35 Market for Bakery Products is Driven By E-Retailing & Changing Consumer Eating Preferences
Figure 36 Growth Opportunities in Frozen Products Segment is Driven By Increase in Number of Working Women
Figure 37 Fluctuating Cocoa Prices, 1960–2014
Figure 38 Emerging Countries to Show High Market Growth Potential in the Coming Five Years
Figure 39 Presence of Key Cocoa & Chocolate Players Drives the Market in North America
Figure 40 European Market Drives the Chocolate Flavors Application in Food
Figure 41 Economic Development is Expected to Drive the Asia-Pacific Market Growth
Figure 42 Brazil: A Key Market in Latin America
Figure 43 Globalization Has Significant Impact on Development of the Market
Figure 44 Key Companies Preferred Expansion & Investment Which Will Have A Significant Impact on the Market Development
Figure 45 Barry Callebaut Grew at the Highest CAGR Between 2011 & 2013
Figure 46 ADM & Cargill Dominated the Chocolate Flavors Market in 2013
Figure 47 Maximum Developments Were Recorded in 2014
Figure 48 Barry Callebaut Was the Most Active Company in the Chocolate Flavors Market Between 2010 & 2014
Figure 49 Barry Callebaut Adopted All Strategies to Expand Its Global Reach & Maintain Its Market Position Between 2010 & 2015
Figure 50 Geographic Revenue Mix of Top 4 Chocolate Flavors Manufacturers
Figure 51 Company Snapshot: Archer Daniels Midland Company
Figure 52 SWOT Analysis: Archer Daniels Midland Company
Figure 53 Company Snapshot: Barry Callebaut
Figure 54 SWOT Analysis: Barry Callebaut
Figure 55 Company Snapshot: Blommer Chocolate Company
Figure 56 Company Snapshot: Cargill, Incorporated
Figure 57 SWOT Analysis: Cargill, Incorporated
Figure 58 Company Snapshot:  CEMOI Group
Figure 59 Company Snapshot: Frutarom Industries Ltd.
Figure 60 Company Snapshot: Givuadan S.A.
Figure 61 SWOT Analysis: Givaudan S.A.
Figure 62 Company Snapshot: International Flavors & Fragrances Inc.
Figure 63 SWOT Analysis: International Flavors & Fragrances Inc.
Figure 64 Company Snapshot: Olam International Ltd.
Figure 65 SWOT Analysis: Olam International Ltd.
Figure 66 Company Snapshot: Puratos Group
Figure 67 SWOT Analysis: Puratos Group

This report on chocolate flavors has been classified on the basis applications and regions. The consumption of chocolate flavors increased with the increase in seasonal & festive demand, demand for functional foods due to health benefits of cocoa & chocolate products, improved cocoa supply chain, and technological advancements. Europe is the largest and the fastest growing market for chocolate flavors. The market is also projected to grow in emerging economies such as Southeast Asia, Latin America, and Africa, with key manufacturers investing in the development of cocoa and chocolate products. The increasing disposable income and rising middle-class population is a key driver for the market.

Chocolate Flavors Market Size, 2014 vs. 2019 ($Thousand)

Chocolate Flavors Market

E– Estimated; P - Projected
Source: Company Website & Publications, FAO, Investor Presentations, COMTRADE, and MarketsandMarkets Analysis

The market for chocolate flavors is projected to be valued at more than $350 million by 2019, growing at a CAGR of 5.0% from 2014 to 2019. The market in Europe is projected to grow at the highest CAGR during the review period.

The chocolate flavors market is fragmented, with key companies driving the growth by opting for strategic acquisitions, investments, and innovative product offerings. This report provides qualitative analysis of the prominent market players and their preferred development strategies. Key players such as Archer Daniels Midland Company (U.S.), Cargill, Incorporated (U.S.), and Barry Callebaut AG (Switzerland) have been profiled in the report.

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