According to the report by Expert Market Research (EMR), the North America Compound Chocolate Market Size reached a value of USD 7.51 billion in 2023. Aided by the increasing demand for affordable and versatile chocolate products and the growing applications of compound chocolate in various sectors, the market is projected to further grow at a CAGR of 6.0% between 2024 and 2032 to reach a value of USD 12.75 billion by 2032.
Compound chocolate, made from a combination of cocoa, vegetable fats, and sweeteners, serves as an economical alternative to traditional chocolate. It is widely used in confectionery, bakery, and dairy products due to its ease of handling, cost-effectiveness, and stable melting properties. The North America compound chocolate market growth is driven by factors such as the rising demand for affordable chocolate products, the increasing use of compound chocolate in the food and beverage industry, and the expanding confectionery and bakery sectors.
The increasing demand for affordable chocolate products is a significant driver of the compound chocolate market. As consumers seek high-quality chocolate experiences at lower prices, the adoption of compound chocolate has surged. Compound chocolate provides a cost-effective alternative to couverture chocolate, making it popular among manufacturers of confectionery and bakery products. The rising disposable incomes and the growing preference for affordable yet indulgent treats are further boosting the demand for compound chocolate and consequently driving up the North America compound chocolate market share.
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The increasing use of compound chocolate in the food and beverage sector is another key factor propelling the market growth. Compound chocolate is widely used in the production of confectionery items, including candies, chocolate coatings, and fillings, due to its stable melting properties and ease of handling. In the bakery sector, compound chocolate is used in cookies, cakes, pastries, and dessert toppings. The versatility of compound chocolate and its suitability for various applications are driving its adoption in the food and beverage sector, leading to North America compound chocolate market development.
The expanding confectionery and bakery sectors are also contributing to market growth. The demand for compound chocolate in the production of confectionery and bakery products is driven by the increasing consumption of chocolates, candies, and baked goods. The growth of the confectionery and bakery sectors in North America, driven by changing consumer preferences and the introduction of innovative products, is boosting the demand for compound chocolate. The emphasis on product innovation and the development of new flavours and textures are further driving the market growth.
Specialty stores, including gourmet shops and chocolate boutiques, are gaining popularity, driven by the demand for high-quality and unique compound chocolate products. The online segment is growing rapidly, driven by the increasing preference for online shopping and the convenience it offers. The availability of a wide range of products and the ease of comparison and purchase are significant factors driving the growth of the online segments.
As per the North America compound chocolate market analysis, the North America compound chocolate market is segmented into the United States and Canada. The United States holds the largest share of the market, driven by its large population and the high demand for confectionery and bakery products. The presence of major chocolate manufacturers and the increasing consumption of chocolates and baked goods are driving the demand for compound chocolate in the country. Canada also contributes significantly to the market, driven by similar factors, including a growing population and the increasing demand for compound chocolate. The expanding confectionery and bakery sectors in both countries are further boosting the demand for compound chocolate.
North America Compound Chocolate Market Segmentation
The market can be divided based on the type, form, application, and country.
Market Breakup by Type
- Dark
- Milk
- White
Market Breakup by Form
- Chocolate Chips
- Chocolate Drops
- Chocolate Chunks
- Chocolate Slab
- Chocolate Coatings
- Others
Market Breakup by Application
- Bakery
- Confectionery
- Frozen Desserts and Ice Cream
- Beverages
- Cereals
- Others
Market Breakup by Country
- United States of America
- Canada
Competitive Landscape Of North America Compound Chocolate Market
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in North America compound chocolate market. Some of the major players explored in the report by Expert Market Research are as follows:
- Puratos Corporation
- Cargill, Incorporated
- Fuji Oil Holdings Inc.
- Foley’s Chocolates
- AAK AB
- Barry Callebaut AG
- Blommer Chocolate Company
- Nestlé S.A.
- Others
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