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The Chocolate Flavor Market value is set to grow by USD 116.96 million, progressing at a CAGR of 5.24% from 2020 to 2025, as per the latest report by Technavio
Chocolate Flavor Market: Segmentation Analysis & Forecasts
The market is segmented by application (food products and beverage products). The chocolate flavor market share growth by the food products will be significant during the forecast period. The chocolate flavor is used in various food products, such as bakery products, confectioneries, dairy products, and frozen products. The wide range of applications of chocolate flavor in various categories of food products is expected to increase the sales of these products and thereby contribute significantly to the growth of this segment of the global chocolate flavor market during the forecast period.
Chocolate Flavor Market: Regional Analysis & Forecasts
The market is segmented by geography (Europe, North America, APAC, South America, and MEA). 53% of the market's growth will originate from Europe during the forecast period. UK, Germany, and France are the key markets for chocolate flavor in Europe. Market growth in this region will be faster than the growth of the market in other regions. The growth of the chocolate flavor market in Europe is mainly driven by the rising demand for natural chocolate flavors among consumers in the region. The growing awareness among consumers regarding the harmful effects of synthetic and artificial chocolate flavorings has resulted in an increased preference among consumers toward natural chocolate flavors.
Chocolate Flavor Market Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.24% |
Market growth 2021-2025 |
$ 116.96 million |
Market structure |
Fragmented |
YoY growth (%) |
4.64 |
Regional analysis |
Europe, North America, APAC, and South America |
Performing market contribution |
Europe at 53% |
Key consumer countries |
US, UK, Germany, Canada, and France |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
Archer Daniels Midland Co., Barry Callebaut AG, Blommer Chocolate Co., Givaudan SA, Olam International Ltd., Puratos NV/SA, Sensient Technologies Corp., Symrise AG, Takasago International Corp., and The MANE Group |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period, |
Customization preview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
One of the key factors driving the chocolate flavor market growth is the growing popularity of chocolate flavor-based baked goods. Flavors comprise the entire range of sensations that consumers perceive while consuming food and beverage (F&B) products and are used to enhance the taste of the product. Chocolate is one of the most common flavors used in sweet baked goods such as pastries, cakes, and cookies and is popularly consumed globally. The addition of chocolate flavor in these types of baked goods imparts a characteristic taste and helps in flavor enhancement of the food, thereby making it more appealing to consumers. Owing to its intense richness and taste, the chocolate flavor is used in baked goods to enhance their taste. As a result, the chocolate flavor is used in a wide range of baked goods. For instance, chocolate couverture is used as a popular coating in most baked goods, such as pastries and cookies. This is expected to positively impact the growth of the global chocolate flavor market during the forecast period.
Gain a Deeper Dive to Latest Market Trends, Challenges, Share, New Revenue Sources, & Top Customers. Learn More
Stringent food safety regulations and guidelines is one of the key challenges hindering the chocolate flavor market growth. The global chocolate flavor market is subjected to various stringent regulations with respect to food safety in order to ensure that the flavor quality is up to the industry standard and does not impose any health risks. The imposition of such regulations, however, might pose a challenge to the manufacturers of food flavors, including chocolate flavors, as they need to comply with such regulations while manufacturing chocolate flavor and maintaining the standard quality. There are several government bodies across the world that maintain a list of regulations concerning the safety of the different types of flavors used in a variety of food items. For instance, in the US, food flavors, including chocolate flavors, are regulated by the FDA. Therefore, several regulatory bodies exist that monitor the food safety of consumers by implementing regulations with respect to flavors used in food items. Any non-compliance to these above-mentioned food safety regulations leads to product recalls at any stage of the supply chain and hefty fines to manufacturers. This, in turn, is expected to negatively impact the growth of the global chocolate flavor market during the forecast period.
Chocolate Flavor Market: Vendor Analysis & Forecasts
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
- Archer Daniels Midland Co.
- Barry Callebaut AG
- Blommer Chocolate Co.
- Givaudan SA
- Olam International Ltd.
- Puratos NV/SA
- Sensient Technologies Corp.
- Symrise AG
- Takasago International Corp.
- The MANE Group
The chocolate flavor market is fragmented and the vendors are deploying growth strategies such as launching new products of chocolate flavors to compete in the market.
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Cocoa Beans Market by Product Type, Application, and Geography - Forecast and Analysis 2022-2026: The cocoa beans market share is expected to increase by USD 2.86 billion from 2021 to 2026, at a CAGR of 4.2%. Find More Exclusive Research Insights Here
Table of Contents
Executive Summary
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2020
- Market outlook: Forecast for 2020 - 2025
Five Forces Analysis
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Application
- Market segments
- Comparison by Application
- Food products - Market size and forecast 2020-2025
- Beverage products - Market size and forecast 2020-2025
- Market opportunity by Application
Customer landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- Europe - Market size and forecast 2020-2025
- North America - Market size and forecast 2020-2025
- APAC - Market size and forecast 2020-2025
- South America - Market size and forecast 2020-2025
- MEA - Market size and forecast 2020-2025
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Overview
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- Archer Daniels Midland Co.
- Barry Callebaut AG
- Blommer Chocolate Co.
- Givaudan SA
- Olam International Ltd.
- Puratos NV/SA
- Sensient Technologies Corp.
- Symrise AG
- Takasago International Corp.
- The MANE Group
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
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SOURCE Technavio
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