Global Chocolate Flavors Market was worth USD 310 million in 2016 and estimated to be growing at a CAGR of 5.15%, to reach USD 398 million by 2021
According to the report “Chocolate Flavors Market by Application (Confectionery, Bakery Products, Frozen Products, Dairy Products, Convenience Products, Others), and by Region - Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts (2016–2021)” published by Market Data Forecast, the Global Chocolate Flavors Market was worth USD 310 million in 2016 and estimated to be growing at a CAGR of 5.15%, to reach USD 398 million by 2021.
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The Chocolate Flavors market is showing evident potential in the mentioned forecasting period. The market continues to gain momentum with the rising awareness about the application of chocolates in functional foods and pharmaceutical products.
Chocolate flavors are one of the most important ingredient in various food and beverage production.
They have various health related benefits as well like reducing incidences of high blood pressure or cholesterol and also the risks of strokes. These are extensively used in bakery, dairy products.
The growing market of organic and Fairtrade chocolates has in turn resulted in the growth of chocolate flavors market. Other factors driving the market growth include health benefits related to chocolates, variety of applications, and penetration in emerging economies.
Apart from these, there are factors restraining the market growth as well. These include, unstable economies in cocoa producing countries, dependence on West African countries for raw material supply as well as changing preferences of the consumers.
These factors have been holding the market down from reaching its full potential.
The Global Chocolate Flavors market is segmented on the basis of application and geography. The market segmentation on the basis of application is done under confectionery, frozen products, bakery products, dairy products, convenience products and other applications.
Based on segmentation by application, the market is dominated by bakery products due to their extensive usage all around the globe. On the basis of geography, the global market is analyzed under various regions namely North America, Europe, Asia-Pacific and Rest of the World.
The Chocolate Flavors market was dominated by Europe, with the overall market share of over 33% globally. Europe was followed by Europe and Asia-Pacific.
Europe market is expected to be fastest growing one as well in the coming few years.
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Some of the major companies dominating the market, by their products and services include Archer Daniels Midland Company, Barry Callebaut, Blommer Chocolate Company, Cargill, Incorporated, CEMOI Group, Frutarom Industries Ltd, Givaudan S.A, International Flavors & Fragrances Inc., Olam International Ltd., Puratos Group.
Scope of the report:
- Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
- Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
- Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
- Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
- Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development
- A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
- Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
- An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
- Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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