Cocoa Fillings Market Scenario:
Global Cocoa Fillings Market Revenue is anticipated to expand at 4.70 % CAGR during the forecast period (2017-2023) owing to its extensive use in confectionery and bakery products, asserts Market Research Future (MRFR). Cocoa and chocolate fillings are majorly used in confectionery and bakery products to offer flavor, sweetness, and texture to the product. Fillings range from water to fat-based fillings for various applications in bakeries, dairy, and confectionery industry in order to attain a proper formulation in terms of taste, texture, mouthfeel, and viscosity.
Cocoa Fillings Market Drivers and Constraints Impacting the Market:
The cocoa and chocolate market has witnessed a substantial innovation in terms of textures and flavors including blended flavors which are generally used as fillings are likely to gain more consumer attention. Textures and flavors in superior products are modified by the processors and manufacturers by adding unique flavors, sweet and salt, and textures, in order to make the final product crispy and crunchy. With the increasing adoption in new forms and flavors, the demand for chocolate and cocoa fillings are likely to trigger during the review period. With the evolving dietary pattern and changing lifestyle, convenience food plays a crucial role in a consumer’s food choices. Consumers spend less time cooking meals at home which is leading to the growing demand for confectionery products and chocolate flavored bakery. This is expected to stimulate the market growth for cocoa fillings during the assessment period.
On the flip side, increase in the price of raw material along with strict national and international mandates for food products can hamper the global cocoa fillings market during the assessment period.
The major players operating the global cocoa filling market are Cargill Incorporated (U.S.), Barry Callebaut (Switzerland), Alpezzi Chocolate (Mexico), PURATOS (Belgium), Nestle S.A. (Switzerland), and others.
Cocoa Fillings Market-Segmental Analysis:
The global cocoa fillings market has been segmented on the basis of application, ingredients, distribution channel, and region.
By mode of ingredients, the global cocoa fillings market has been segmented into cocoa paste, cocoa beans, cocoa butter, unsweetened cocoa powder, cocoa liquid, and others. Among these, the segment for cocoa beans is estimated to hold the largest market share of 31.21 % and is likely to maintain its dominance over the review period.
By mode of application, the global cocoa fillings market has been segmented into bakery & confectionery, pharmaceuticals, dairy products, beverages, personal care, and others. Among these, the bakery and confectionery industry holds the maximum market share and is predicted to touch 161.34 million by the end of the forecast period.
By mode of distribution channel, the market has been segmented into non-store based and store-based.
Geographically, the cocoa fillings market spans across regions namely, Europe, North America, Asia Pacific, and the Rest-of-the-World.
Among all the regions, Europe is predicted to hold the largest market share and is expected to maintain its dominance. This growth is attributed to the rapid urbanization, robust economic development, and exponential growth in the middle-class population across the globe.
The Asia Pacific region is estimated to register a massive growth during the assessment period owing to the high growth in emerging economies like India, China, and Japan. Meanwhile, the Middle East region along with Latin America is also likely to witness a lucrative opportunity in the coming years.
Global Cocoa Fillings Market-Industry Updates:
In January 2019, Roland Food LLC has announced that it has acquired Albert Uster Imports, importer of specialty pastry, confectionery, and baking supplies and ingredients.
In October 2018, Barry Callebaut, a leading supplier of high-quality chocolate and cocoa products, has announced that it has planned to acquire Inforum, a Russian Chocolate producer.
In July 2018, Tanis Food Tec has announced the development of an automated cream filler for sandwich biscuits.
In April 2019, DeBeukelaer has launched a new product, Chupa Chups refreshment sticks with liquid fillings. The flavor range of this product includes strawberry, cocoa, and other flavored fillings.
Read More about Cocoa Fillings Market: https://www.marketresearchfuture.com/reports/cocoa-fillings-market-3018
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