Chocolate Liquor Market: Segmented: By Type (White Chocolate Liqueur, Black Chocolate Liqueur), By Application (Chocolate Bars, Flavoring Ingredient), And Region - Global Analysis of Market Size, Share & Trends For 2021-2022 And Forecasts To 2031
[ 170 + Pages Research Report ] Chocolate Liquor to surpass USD 8.6 billion by 2031 from USD 6.22 billion in 2021 at a CAGR of 3.3% in the coming years, i.e., 2021-31.
Chocolate Liquor is a grounded form of cocoa beans and has a deep chocolate flavor, which is used to make chocolate. It is in semi-solid or solid form which contains cocoa butter and cocoa solids. It is used to make various chocolate products like chocolate bars, chocolate chips and used for baking and flavoring in different recipes.
Chocolate Liquor market is expected to project a notable CAGR of 3.3% in 2031.
The rising popularity of chocolate liquor-based products for their rich and deep flavors, increasing demand for premium chocolates, and rising demand from different industry verticals such as confectionery, bakery, beverages, etc. are the key factors contributing to the growth of the Chocolate Liquor Market.
Flavoring Ingredient segment to grow with the highest CAGR during 2021-31
Based on application, Chocolate Liquor Market is classified into Chocolate Bars and Flavoring Ingredient. During the forecast period, the Flavoring Ingredient segment is projected to grow with the highest CAGR. Chocolate Liquor is used in the making of various chocolate-based drinks like hot chocolate, and other various drinks. These drinks are highly popular among customers which is boosting the demand in the market.
Increasing demand for various chocolate-based items
Increasing demand for bakery products, ice creams, and drinks, etc. among consumers has resulted in the increased demand for chocolate liquor. Due to its deep flavor, chocolate liquor is used to make hot chocolate and other drinks. The delicious flavor of chocolate liquor is widely used to bake cookies, brownies, cakes, and other various desserts and it is also used to make white chocolate. Owing to the versatility of chocolate liquor in both sweet and savory recipes, the market demand will witness significant growth.
Rising popularity of chocolates and emerging flavors
Increasing popularity of dark chocolate and white chocolate with rich flavors among end users is driving market growth. Further, manufacturers are continuously working on new flavors to fulfill the need of the rising number of customers in the market.
Health issues caused by overconsumption
Overdose of chocolate liquor-based products like chocolates can result in obesity, high blood pressure, diabetes, etc. Therefore, overconsumption of chocolate liquor-based products can restrain the growth of the market.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Chocolate Liquor market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. North America is projected to grow with the maximum CAGR during the forecast period. The growth is attributed to the rising demand for chocolate liquor-based products in the region. Rising demand from confectionary and bakeries along with the increasing demand for premium chocolates and expansion of products by market players is driving the market growth.
Covid-19 pandemic had adverse effects on the global economies with the disruption in production activities. There has been a huge fluctuation in the demand and supply of good and services around the globe. The strict imposition of lockdowns, travel bans and social distancing norms have highly disrupted the global supply chains and hampered the procurement of raw materials. The pandemic had a negative impact on the chocolate liquor market. However, after the relaxation in the covid-19 norms, the market is expected to grow at a significant rate.
Chocolate Liquor is further segmented by region into:
Chocolate Liquor Segments:
|Market size value in 2021
|USD 6.22 billion
|Revenue forecast in 2031
|USD 8.6 billion
|CAGR of 3.3% from 2021 to 2031
|Base year for estimation
|Revenue in USD million and CAGR from 2021 to 2031
|Revenue forecast, company ranking, competitive landscape, growth factors, and trends
|Type, Application, and Region
|North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)
|Key companies profiled
|Mars, Republica Del Cacao, Ghirardelli, FUJI OIL, Alpezzi Chocolate, Cémoi, Olam, Cargill, Nestle SA, Valrhona, Guittard, Irca, TCHO, Foley’s Candies LP, Puratos, Hershey, Other Prominent Players.
Chocolate Liquor to surpass USD 8.6 billion by 2031 from USD 6.22 billion in 2021 at a CAGR of 3.3% in the coming years, i.e., 2021-31.
Mars, Republica Del Cacao, Ghirardelli, FUJI OIL, Alpezzi Chocolate, Cémoi, Olam, Cargill, Nestle SA, Valrhona, Guittard, Irca, TCHO, Foley’s Candies LP, Puratos, Hershey
Flavoring Ingredient segment to grow with the highest CAGR during 2021-31 is anticipated to hold the Chocolate Liquor Market
Drivers Increasing demand for various chocolate-based items
Chocolate Liquor is a grounded form of cocoa beans and has a deep chocolate flavor, which is used to make chocolate. It is in semi-solid or solid form which contains cocoa butter and cocoa solids.
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