Chocolate Flavors Market - Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth And Forecast 2021 - 2026

Report Code: FBR 40375 Report Format: PDF + Excel (Delivery in 48 Hrs)

Chocolate Flavors Market Overview

Chocolate Flavors Market size is estimated to be 352.6 Million in 2019, growing at a CAGR of 4.8% during the forecast period 2020-2025. Chocolate flavors are well known for its cocoa content which contains nutritious flavonoids, which are antioxidants that provides several health benefits including “heart-protecting”, anti-inflammatory, brain boosting, mood lifting properties. Moreover, they are used as a flavoring agent in various beverage and food industry. Rising health benefits of chocolate flavors owing to its nutritional benefits to increase blood flow to the hearts and break up clumps of white blood cells that block arteries are further propelling its demand in the market. In addition, the flavonols found in dark chocolates are thought to support healthy blood vessel function. Furthermore, Harvard Medical School doctors suggested that it may decrease the risk of heart disease, stroke and heart failure and it may also lower (LDL) cholesterol. Moreover, The Food and Drug Administration does not have a standard of identity for dark chocolates as a type of chocolate. To be marketed, as milk chocolate, a product must contain at least 10 percent chocolate liquor, at least 3.39 percent milkfat and at least 12 percent milk solids. In March 2017 Firmenich officially started the construction of its new world-class manufacturing facility dedicated to flavors in Zhangjiagang, China.

Report Coverage

The report: “Chocolate Flavors Market Forecast (2020-2025)”, by Industry ARC, covers an in-depth analysis of the following segments of the Chocolate Flavors Market.
By Application Type- Confectionary, Dairy and Hot Drink, Bakery Product, Frozen Product, Convenience Product and Others.
By Geography-North America, Europe, Asia-Pacific and Rest of the World.

Key Takeaways

  • Confectionary segment held the largest market share in the year 2019 owing to the increasing demand of candies, candied nuts, chocolates, chew gum and others.
  • Europe contributed to the largest market share of more than 29% owing to the presence of large dominant players in the region including Nestle, Cadbury NZ and Givaudan S A.
  • Increasing awareness among consumers regarding nutritional benefits of Chocolate Flavors owing to the presence of flavonoids is a significant factor driving the Chocolate Flavors market during the forecast period 2020-2025

By Application- Segment Analysis 

By Application, the Chocolate Flavors is segmented into confectionary, dairy and hot drink, bakery product, frozen product, convenience product and others. Confectionary segment held the largest market share in the year 2019 owing to the increasing demand of candies, candied nuts, chocolates, chew gum and others. Product launches, acquisition and the trend of gifting confectionary products is further contributing to its market growth. Moreover, in December 2019, 3dChef partnered with a number of confectionary firms to develop next-generation candies, sweets and decorations for the pastry industry. Also, dairy and hot drink segment is projected to witness growth at fastest CAGR of 5.6% in forecast period 2020-2025. By adding flavors and formulating dairy products, producers around the world are reaching whole new consumer groups with tasty and healthy products. Formulations may involve extra vitamins, minerals, proteins and other ingredients like omega-3 or fibre to make a product even healthier. Other formulated product includes lactic acid drink (LAD), tea whitener and formulated cream.

Geography- Segment Analysis

Europe contributed to the largest market share of more than 29% owing to the presence of large dominant players in the region including Nestle, Cadbury NZ and Givaudan S A. Increasing demand of natural chocolate flavors among consumers owing to its health benefits have highly supported its regional demand. Moreover, according to Barry Callebaut, caramel is the third most derived flavor in chocolate confectionary in Western Europe after hazelnut and almond. North America chocolate flavors market is another dominant market owing to the presence of Archer Daniel Midland Company. Moreover, in March 2019 Archer Daniel adds another natural citrus to the mix with Ziegler Group acquisition.

Drivers – Chocolate Flavors Market

  • Increasing Awareness Among Consumer Regarding Nutritional Benefits of Chocolate Flavors 

Increasing awareness among consumers regarding nutritional benefits of Chocolate Flavors owing to the presence of flavonoids is a significant factor driving the Chocolate Flavors market during the forecast period 2020-2025. Moreover, the chocolates flavors are rich in fiber, iron, magnesium, copper and manganese. In addition, a chemical called epicatechin found in cocoa and green tea help prevent the brain against the formulation of sticky protein or amyloid plaques which develops in Alzheimer disease. Furthermore, the Journal of Nutrition suggested that the chocolate consumption might help reduce low-density lipoprotein (LDL) cholesterol levels also known as “bad cholesterol”.

  • Increasing Demand of Chocolate Flavors in Beverage Industry

Increasing demand of chocolate flavors in beverage industry is a major factor driving the Chocolate Flavors Market during the forecast period 2020-2025. Growing developments and product launches by major players is further contributing to its market growth. For instance, in April 2019 Flavorchem Corporation a leader in the manufacturing of flavor and color solutions, continues its commitment to innovation with its new-state-of-the art pilot plant using the latest in thermal processing capabilities. The fully automated, custom-designed thermal processing unit allows Flavorchem to stimulate HTST, UHT and aseptic conditions with both indirect heating and direct steam injection, allowing products to be tested prior to production.

Challenges – Chocolate Flavors Market 

  • Short-Self Life

Short-shelf life of chocolates are some of the factors that may impede the growth of Chocolate Flavors Market during the forecast period 2020-2025. Milk chocolate has a self-life range of six months to nine months owing to the milk fat part of the milk that oxidizes or goes rancid faster than cocoa butter. In addition, the higher milk content in chocolate the shorter the life span. Furthermore, adding nuts to chocolate eventually decrease the self-life in term of boom and rancidity. Nut oils migrate quickly to the surface of the chocolate causing bloom, and the oils behave similarly to milk fat in which they oxidize faster.

Chocolate Flavors Market Industry Outlook

Product Launches, Merger & Acquisition, joint ventures and R&D activities are key strategies adopted by the players in Chocolate Flavors Market. Chocolate Flavors Market top 10 companies are Archer Daniel Midland Company, Barry Callebaut, Blommer Chocolate Company, Cargill Incorporated, Cemoi Group, Frutarom Industry Ltd, Givaudan S A, International Flavor and Fragrance Inc., Olam International Ltd and Puratos Group.

Acquisitions/Product Launches

  • January 2018: Barry Callebaut introduced sensory language and tasting rituals for chocolates enabling brands and artisans to help consumer appreciate chocolate even more than they do today.
  • August 2019: Barry Callebaut introduced Bensdorp natural dark a flavorful 100% natural, dark cocoa powder which can be used in major application segments such as bakery and pastry creation, cold drinks & beverages and ice-creams.
1. Chocolate Flavors Market Overview
    1.1 Definitions and Scope
2. Chocolate Flavors Market  - Executive Summary
    2.1 Market Revenue, Market Size and Key Trends 
    2.2 Key trends by Application Type
    2.3 Key trends by Geography
3. Chocolate Flavors Market –Comparative Analysis
    3.1 Product Benchmarking - Key companies
    3.2 Financials Analysis - Key Companies
    3.3 Market Share Analysis- Key Companies
    3.4 Patent Analysis 
    3.5 Pricing Analysis
4. Chocolate Flavors Market- Startup companies Scenario Premium Premium  
    4.1 Key Startup Company Analysis by
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Application Analysis
        4.1.4 Venture Capital and Funding Scenario
5. Chocolate Flavors Market – Industry Market Entry Scenario Premium Premium  
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing business index
    5.3 Case Studies of Successful Ventures
6. Chocolate Flavors Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porters Five Force Model
        6.3.1 Bargaining power of suppliers
        6.3.2 Bargaining powers of customers
        6.3.3 Threat of new entrants
        6.3.4 Rivalry among existing players
        6.3.5 Threat of substitutes 
7. Chocolate Flavors Market -Strategic analysis
    7.1 Value chain analysis 
    7.2 Opportunities analysis
    7.3 Market life cycle
8. Chocolate Flavors Market – By Application Type (Market Size –$Million/$Billion)
    8.1 Confectionary
    8.2 Dairy & Hot Drink
    8.3 Bakery Product
    8.4 Frozen Product
    8.5 Convenience Product
    8.6 Others
9. Chocolate Flavors Market -  By Geography (Market Size -$Million/$Billion)
    9.1 North America
        9.1.1 U.S.
        9. 1.2 Canada
        9.1.3 Mexico
    9.2 Europe
        9.2.1 U.K.
        9.2.2 Germany
        9.2.3 France
        9.2.4 Italy
        9.2.5 Spain
        9.2.6 Rest of Europe
    9.3 Asia-Pacific
        9.3.1 China
        9.3.2 Japan
        9.3.3 South Korea
        9.3.4 India
        9.3.5 Australia & New Zealand
        9.3.6 Rest of APAC
    9.4 Rest of the World
        9.4.1 Middle East
        9.4.2 Africa
        9.4.3 South America
10. Chocolate Flavors Market - Entropy
11. Chocolate Flavors Market  – Industry/Segment Competition Landscape      Premium  
    11.1 Market Share Analysis
        11.1.1 Global Market Share – Key Companies
        11.1.2 Market Share by Region – Key companies
        11.1.3 Market Share by Country- Key companies
        11.1.4 Best Practices for Companies
12. Chocolate Flavors Market – Key Company List by Country Premium  Premium
13. Chocolate Flavors Market Company Analysis
    13.1 Company Revenue, Products, M&A, Developments
    13.2 Archer Daniel Midland Company
    13.3 Barry Callebaut
    13.4 Blommer Chocolate Company
    13.5 Cargill, Incorporated
    13.6 Cemoi Group
    13.7 Frutarom Industry Ltd
    13.8 Givaudan S A
    13.9 International Flavor & Fragrance Inc.
    13.10 Olam International Ltd
    13.11 Puratos Group
*Financials for private companies would be provided on a best efforts basis”.

List of Tables

1 US Chocolate Flavors Market Size 2018
2 Canada Chocolate Flavors Market Share 2018
3 Brazil Chocolate Flavors Market Outlook 2019 - 2023
4 Mexico Chocolate Flavors Market Research 2018
5 Germany Chocolate Flavors Market Trends 2019 - 2023 
6 France Chocolate Flavors Market Growth 2019 - 2023 
7 UK Chocolate Flavors Market Demand 2019 - 2023 
8 Italy Chocolate Flavors Market Segmentation 2018
9 Russia Chocolate Flavors Market Analysis 2019 - 2023
10 China Chocolate Flavors Market Revenue 2019 - 2023
11 Japan Chocolate Flavors Market Volume 2019 - 2023
12 South Korea Chocolate Flavors Market Potential 2019 - 2023
13 India Chocolate Flavors Market Leaders 2018
14 Saudi Arabia Chocolate Flavors Market Forecast 2019 - 2023 
15 Kuwait Chocolate Flavors Market Value 2018

List of Figures

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