Chocolate Coatings Market: Market Outlook
Chocolate coatings is a type of chocolate which are made from the combination of vegetable oil, cocoa, and sweeteners. The chocolate coating differs from the real chocolate where instead of vegetable oils cocoa butter are used as ingredients. The chocolate coatings are a cost-alternative to the chocolate products as the cocoa butter is an expensive option to use in chocolate. Moreover, with the use of nutritional sweetener in chocolate coatings, it becomes the cheap and healthy alternatives for the consumers.
The confectionary market is thriving across the world as a new innovative solution are introduced by the food companies to cater to the consumer base. The chocolate coatings are used in different confectionery products including the ice-cream, chocolate, and others. Chocolate coatings increase the value addition in confectionery products. The various vegetable oils are used in chocolate coatings are palm oil, coconut oil, rapeseed oil, and others. These oils are used as an alternative to the cocoa butter without compromising the taste of the confectionery products. In addition, the chocolate coatings are claimed to be healthier as they contain low sugar and high protein amount.
Cost-effective aspects of the chocolate coatings is flourishing its demand
The chocolate coatings market is driven by the consumer demand for cheap and healthy confectionery products. The confectionery manufacturers are utilizing the varieties of vegetable oil instead of the cocoa butter which is a cost-effective option for them. The high demand for cocoa butter is coupled with its increasing price is influencing the manufacturers to use the chocolate coatings. The consumer also seeking low-cost confectionery products with health benefits. By using chocolate coatings in products, manufacturers can meet consumer demand. Furthermore, the Asia-pacific, where consumption of western confectionery products is growing, the chocolate coatings can get a beneficial opportunity in the region. The consumer in Asia-pacific is keen to approach new innovative food products as the per capita income of consumer are thriving. The introduction of low-cost chocolate products can drive the market size of chocolate coatings in the region. The chocolate coatings market also getting the benefits from increasing health consciousness in the consumers. The chocolate coatings are also beneficial for the health as the different type of vegetable oils and sweetener are used in the coatings which can reduce the calorie and increase the protein content in the products.
Global Chocolate Coatings Market: Segmentation
On the basic of vegetable oils, the global chocolate coatings market has been segmented as –
On the basic of application, the global chocolate coatings market has been segmented as –
On the basic of flavor, the global chocolate coatings market has been segmented as –
On the basic of region, the global chocolate coatings market has been segmented as –
Global Chocolate Coatings Market: Key Players
Some of the key players of chocolate coatings market are The Barry Callebaut Group, Cargill, AAK AB, Capol LLC, Rascal Confectionery Ltd., Mantrose-Haeuser Co., Sweetdreams Limited, Clasen Quality Coatings, Bunge Loders Croklaan, Thew Arnott & Co Ltd, and others.
Opportunities for Market Participants in the Chocolate Coatings Market-
Since the demand for worthwhile confectionary products is growing rapidly, the market participants will be getting a beneficial opportunity in the global chocolate coatings market during the forecast period. As the high price and low availability of cocoa butter have made the way of using the chocolate coatings, the global market is booming from it. This is offering a better market scenario to the manufacturers in the global chocolate coatings market.
Global Chocolate Coatings Market: Regional Outlook
North America is leading in the global chocolate coatings market by showing the highest value share due to the high consumption of confectionery products in the region. Whereas, Europe is followed by North America is also showing the significant value share in global chocolate coatings market and the major reason is growth in high demand for customized confectionery products in the region. However, South and East Asia are displaying the highest growth in the global chocolate coatings market due to increasing spending on food products and change in consumer lifestyle in the regions.