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The global chocolate filling market is driven by the increasing utilization of chocolate filling by the end-users such as baked goods manufacturers and snack producers. The innovative savory flavors are being increasingly associated with chocolate fillings to attract consumers. For instance, in July 2018 Nestle India has expanded its product portfolio with the launch of Nesplus, an exciting range of breakfast cereals. The product is available in the Choco-Burst Fillows variant which is made with wheat, sorghum, rice, oats, and chocolate filling.
The extensive use of chocolate chunks as a food inclusion to add more bite and creative texture to the product is anticipated to boost the demand for chocolate fillings. Moreover, with the changing taste preferences, buyers are looking for indulgence products that have been made with an innovative idea and healthier ingredients. These changing food choices of consumers along with the innovative product introduced by the manufacturers are predicted to drive the market in forthcoming years. The prominent players operating in the market are embarking upon the new and innovative product launches to increase their footprint in the market.
The chocolate inclusion is capable of bringing new flavor, taste, aroma and textural elements in the food product which is anticipated to boost the demand for chocolate filled products. The rising consumer expenditure on indulgent confectionery products especially chocolate confectionery is anticipated to propel the sales of chocolate filled products. The increasing popularity of chocolate filled products is encouraging major vendors to expand their product portfolio to meet this growing demand. As a result, customers are expected to experience the availability of an extensive range of product choices in the market which is further anticipated to leverage the sale of the product. For instance, in January 2020, Mondelez India announced the launch of Cadbury Chocobakes Choco-filled Cookies. Cadbury Chocobakes Choco-filled Cookies is priced at USD 0.39 for 75g and USD 0.78 for 150g. Moreover, the major market players are introducing chocolate-filled products manufactured using natural sweeteners such as stevia which is an increasingly popular option among fitness enthusiasts. The availability of healthy variants of the chocolate-filled products is predicted to leverage the sale of chocolate filled products positively.
Key Market Driver -
Increasing Popularity of Chocolate Inclusion Products
Key Market Restraint -
Fluctuation in Raw Material Prices
The fluctuating price of cocoa which is one of the primary ingredients used in the production of chocolate filling is predicted to act as restrain for market growth. Furthermore, the rising prevalence of obesity among consumers is expected to hamper the sale of chocolate-filled products due to its high sugar content.
The prominent players operating in the global chocolate filling market are Nestle S.A. Mars Incorporated, Barry Callebaut, Mondeleze International, Ferrero, The Hershey Company, GODIVA Chocolates, Moonstuck Chocolate, Cargill Inc, Blommer Chocolate Company, and Others.
The milk chocolate filling is anticipated to hold a considerable share in the global market of chocolate filling. The high popularity and desirability of milk chocolate among kids and adults due to its unique taste are anticipated to boost the demand for milk chocolate filled products. Furthermore, the increasing concerns over health and the rising prevalence of obesity among buyers as expected to increase the demand for dark chocolate filled products in the forthcoming years.
The cookies segment is anticipated to witness substantial growth in the global chocolate filling market. The increasing demand for premiumized bakery products is anticipated to leverage the sales of chocolate-filled cookies. The prominent market players operating in the market are embarking upon the launch of chocolate filled cookies to fulfill consumer demand. For instance, in November 2019, Ferrero expands its Nutella Biscuit to Italy and earlier in April Ferrero launch this biscuit in France market. The Nutella Biscuits are filled with chocolate and hazelnut spread. Furthermore, the increasing popularity of cupcakes filled with chocolate is anticipated to boost the demand for the product.
The chocolate filling market in Asia Pacific is anticipated to witness considerable growth in the forthcoming years due to the increased discretionary spending habits of the consumers. The increasing interest of international market players in prominent Asian countries such as India, Australia, Japan, and others are anticipated to leverage the sale of chocolate filled products in this region. The prominent market players are expanding their product launches within the Asia Pacific market to increase their consumer base. The easy availability of the product due to the rising interest of international market players is expected to boost the sale of the product within the region.
North America is anticipated to hold a significant share in the global market of chocolate filling. The increasing consumer shift towards the consumption of dark chocolates and dark chocolate filled products due to the rising prevalence of obesity is anticipated to boost the sale of the dark chocolate filled products. The presence of prominent market players such as Mondelez International, Mars Incorporated, and others within the region along with the ease of product availability is anticipated to further drive the market within this region.
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