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The chocolate industry has mostly remained promising and lucrative given the strong consumer-base and the innovative indulgent offerings that are further derived from it. The compound chocolate market fueling demand for economic cocoa-based products is driving the sales of compound chocolate. The global demand for compound chocolate is also fueled by the growing popularity of artisanal chocolate offerings. Confectionery, dairy, and bakery industries are largely responsible for most of the consumption of compound chocolate. It is widely available under different names such as coating chocolate, confectionery coating, non-temper coatings, or baker’s chocolate.
The price fluctuation is natural characteristic of cocoa-based products, especially in cocoa butter which is widely utilized for premium products. Compound chocolate presents a viable alternative for cocoa butter by providing decent organoleptic traits to the end-products.
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The compound chocolate is composed of vegetable fats like palm kernel oil or coconut oil with sensory properties closely related to original chocolate. The absence of cocoa butter in compound chocolate not only offers cost savings but also eliminates the need for tempering. The high processability factor of compound chocolate is further complementing its growth. The restrictive regulatory framework regarding the labeling claims in developed markets of Europe is expected to act as a major impediment for the growth of the compound chocolate market.
The superior functionality has become the key focus of compound chocolate manufacturers – there have been strong R&D efforts channelized to improve the functional characteristics such as freeze/thaw stability for different types of compound chocolate.
The coating segment of compound chocolate is gaining higher momentum owing to its wider application spectrum. The robust demand for chocolate-coated sweets has further facilitated the growing sentiment of the compound coating. Bakery application has emerged as a promising sector for compound chocolate; the artisanal bakeries have increasingly embraced compound chocolate as a reliable substitute for couverture chocolate.
The use of compound chocolate is very economical for large-volume chocolate users, especially the food service sector. The dipping application that utilizes compound chocolate is of great utility in confectionary and bakery applications. The compound chocolate utilizes myriad of vegetable fats providing unique textural attributes, this also allows for versatile applications within the food service platforms. Moreover, the compound chocolate is increasingly fortified, coloured, or flavoured providing innovation along with the value addition.
The Asia Pacific and South American markets for compound chocolate is anticipated to grow at a rapid pace over the forecast period, due to high melting resistance, a growing number of production bases, and strong export potential to western markets. The favorable production and price scenario for cocoa powder in the region has further facilitated the market growth of compound chocolate.
The Middle East and African compound chocolate market are expected to emerge as a lucrative region given the favorable consumption dynamics and abundant availability of raw materials. The robust demand for high-end indulgent bakery offerings is set to drive the sales of compound chocolate in the Middle East.
The European markets for compound chocolate are expected to witness decent growth during the foreseeable future amid growing inclination towards premiums indulgent offerings, the majority of which utilize compound chocolate in its composition.
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