Demand for New Flavors & Innovative Products Drives the Chocolate Flavors Market
Chocolate flavors are known for their high cocoa content. They are typically sweet, usually brown, and used as flavoring ingredients in various food & beverage preparations. It also offers the advantage of a nutritional profile with health benefits such potential to lower blood pressure & cholesterol and reduce the risk of strokes. They are used extensively in baked food, dairy products, snacks, confectionery, and drinks.
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The chocolate flavors market is segmented according to its usage in various applications and in different regions. The applications include dairy, bakery, beverages, confectionery, and functional food. The market is driven by increasing sustainable cocoa farming practices, cocoa production and supply chain, growing economies, high seasonal & festive demands, technological advancements, and growing health and nutrition awareness.
This report provides a detailed analysis of the chocolate flavors market, which includes market dynamics such as drivers, restraints, opportunities, and challenges faced by key players. The market size includes a geographic segmentation of the chocolate flavors market, which includes North America, Europe, Asia-Pacific, Latin America and Rest of the World (RoW). The market is further segmented on the basis of the key countries in these regions.
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The chocolate flavors market is projected to grow at a CAGR of 5.0% to reach a value of more than $350 million by 2019. Key players in this market prefer strategic acquisitions and expansions to expand their global network and their chocolate flavors business segment in new geographies.
This report provides qualitative analyses of the leading players in the market. It also enumerates the development strategies preferred by leading market players. The market dynamics in terms of market drivers, restraints, opportunities, and challenges are discussed in detail in the report.
Key players such as Archer Daniels Midland Company (U.S.), Cargill, Incorporated (U.S.), Barry Callebaut AG (Switzerland), Olam International Limited (Singapore), and International Flavors & Fragrances, Inc. (U.S.) have been profiled in the report.