The North-American industrial chocolate market has witnessed continued demand during the last few years and is projected to grow at a CAGR of 9.03% by 2022 in terms of production volume. North-American industrial chocolate market has witnessed substantial innovation in flavor and texture, including flavors such as beer and yoghurt capturing consumer attention.
Flavors like spices, herbs, floral extracts and ingredients including nuts, cereals like granola and muesli, vegetables and fruits. Flavors and textures in superior products have been modified by including sweet and salty, unique flavors, textures made to crunchy and crispy. Increased adoption in new flavors and forms are boosting higher demand for industrial chocolate in North America. Market Research Future predicts the market to grow at a CAGR of around 9% during the forecast period.
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North American Industrial Chocolate Market
By 2022, U.S. will continue to dominate the industrial chocolate market with a share of 71%. North-American industrial chocolate market will find its applications majorly in the chocolate bar which will grow at a CAGR at 6.6%.
U.S. has unique position in the North-American industrial chocolate market followed by Canada. U.S. and Canada together forms the largest market not only in North-America but also compete with European countries leading in industrial chocolate market in terms of exports. U.S. being one of the largest chocolate producers and consumers will gain traction for industrial chocolate production. Chocolate bars forms the major share and is expected to grow at a faster rate due to comparatively higher long-shelf life than flavoring ingredients and its preferable industrial applications.
Study Objectives of North-American Industrial Chocolate
• Detailed analysis of individual segments and sub-segments for industrial chocolate
• To estimate market size and forecasting for the type and application
• To understand the major driving factors in industrial chocolate supply and demand
• To provide country level market analysis and future outlook for North America, and their countries including U.S., Canada & Mexico
• Company profiling of major players in the market
• Value chain analysis indicating each stage of its production process and identifying the crucial stages for improvements
• Supply chain analysis of the product indicating the stake of the various suppliers, both basic producers and formulators/distributors, till the end-user
• Evaluation of historical market trends, patents and technologies, and current government regulatory requirements related to industrial chocolate
• Competitive landscape: top players, there production, current sales, future strategies, new programs, and market share were studied to derive at market sizing (K MT)
• In 2015, the U.S. had the largest share of 69% in the market and is expected to lead with 71% market share by 2022
• U.S. will witness highest growth rate during the forecasted period due to increase in investments in the chocolate industry by the top players in the country
• Among the various types of industrial chocolate in North-America, milk-chocolate is projected to grow at a CAGR of 8.06% by 2022 in terms of production volume
• U.S. being one of the largest chocolate producers and consumers will gain traction for industrial chocolate production
• By 2022, commercial bars is likely to have the market share of around 75%
• Chocolate bars forms the major share due to comparatively higher long-shelf life than flavoring ingredients and its preferable industrial applications. Increasing versatile industrial demand encouraged higher growth for flavoring ingredients
The key players profiled in North-America industrial chocolate market report include- Mondelez, Mars, Blommer, Puratos, Foley’s Candies LP, Cargill, Nestle SA, Hershey, Barry Callebaut, Guittard Chocolate Company, Valrhona, Alpezzi Chocolate, Ghirardelli, Ferrero, Republica del Cacao, and Scharffen Berger.
• Chocolate manufacturers
• Beverages manufacturers
• Bakery Products manufacturers
• Ice-Creams manufacturers
• Traders, exporters, importers
• Potential Investors
• Key executive (CEO and COO) and strategy growth manager
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Country Analysis of North-American Industrial Chocolate Market
As per the MRFR analysis, the North-American Industrial Chocolate market is projected to USD XX billion in 2021, to grow at a CAGR of around 9% during the forecasted period. U.S. and Canada will grow at a CAGR of around 9.68% and 7.32% respectively.
By 2022, U.S. will continue to dominate the North-American Industrial Chocolate market with highest market share and also to witness highest CAGR during the forecasted period.
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The market report for North-American Industrial Chocolate of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.