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Report
Africa Compound Chocolate Market Report and Forecast 2024-2032
Market Report I 2023-11-14 I 170 Pages I EMR Inc.
Africa Compound Chocolate Market Report and Forecast 2024-2032
Market Outlook
According to the report by Expert Market Research (EMR), the Africa compound chocolate market is projected to grow at a CAGR of 6.90% between 2024 and 2032. Aided by the rising disposable income and expansion of frozen desserts sector, the market is expected to grow significantly by 2032.
Compound chocolate, often hailed for its convenience and cost-effectiveness, is a blend of cocoa, vegetable fats, and sweeteners. Unlike traditional chocolates that use cocoa butter, compound chocolates use less expensive fats like palm kernel oil or coconut oil. This alternative to the more expensive pure chocolates has gained traction in Africa, particularly in the bakery, confectionery, and ice cream industries.
The boom in the confectionery sector across several African countries, with an increasing number of international and local brands setting up shop, has given a significant boost to the Africa compound chocolate market growth. Its ease of use-melting without tempering-and its longer shelf life make compound chocolate a preferred choice for many culinary experts and dessert artisans in the region.
Further fuelling the Africa compound chocolate market demand is the burgeoning cafe culture in Africa's urban landscapes. From cafes in Nairobi's bustling streets to upscale patisseries in Johannesburg, the inclusion of compound chocolate in desserts, pastries, and beverages adds to its soaring popularity. This trend isn't limited to eateries; households too are opting for compound chocolate for their home-baked delicacies, given its affordability and versatility.
The versatility of compound chocolate extends beyond just sweet treats. The surge in food innovation has seen its application in a range of gourmet dishes, both sweet and savoury. This adaptability and the ongoing experimentation in African culinary circles project a bright future for Africa compound chocolate market outlook.
The increasing investment in research and development can result in the creation of healthier versions of compound chocolates, catering to the health-conscious segment of consumers. Moreover, the growth of e-commerce platforms dedicated to gourmet foods and ingredients presents a lucrative channel for reaching a broader audience across the continent.
The Africa compound chocolate market growth is buoyed by evolving culinary preferences, the growth of the confectionery sector, and the product's inherent advantages, is on an upward trajectory. Those in the industry who align with changing consumer preferences, ensuring quality while offering value, will undoubtedly be at the forefront of this sweet revolution.
Market Segmentation
The market can be divided based on type, form, application, and country.
Market Breakup by Type
- Dark Chocolate
- White Chocolate
- Milk Chocolate
Market Breakup by Form
- Chocolate Chips/Drops/Chunk
- Chocolate Coatings
- Chocolate Slab
- Other
Market Breakup by Application
- Bakery
- Confectionary
- Frozen Desserts and Ice-Cream
- Beverages
- Cereals
- Others
Market Breakup by Country
- South Africa
- Egypt
- Nigeria
- Algeria
- Others
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the Africa compound chocolate market. Some of the major players explored in the report by Expert Market Research are as follows:
- Puratos Group
- Cargill, Incorporated
- Ferrero International SA
- The Buhler Holding AG
- Mondelez International, Inc.
- Fuji Oil Holdings Inc.
- Meiji Group
- Lindt & Sprungli AG
- Cocoa Processing Company Limited
- Cemoi Group
- Others
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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.
1 Preface
2 Report Coverage - Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Global Compound Chocolate Market Overview
8.1 Key Industry Highlights
8.2 Global Compound Chocolate Historical Market (2018-2023)
8.3 Global Compound Chocolate Market Forecast (2024-2032)
8.4 Global Compound Chocolate Market by Region
8.4.1 North America
8.4.2 Europe
8.4.3 Asia Pacific
8.4.4 Latin America
8.4.5 Middle East and Africa
9 Africa Compound Chocolate Market Overview
9.1 Key Industry Highlights
9.2 Africa Compound Chocolate Historical Market (2018-2023)
9.3 Africa Compound Chocolate Market Forecast (2024-2032)
10 Africa Compound Chocolate Market by Type
10.1 Dark Chocolate
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 White Chocolate
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Milk Chocolate
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
11 Africa Compound Chocolate Market by Form
11.1 Chocolate Chips/Drops/Chunk
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Chocolate Coatings
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Chocolate Slab
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 Other
12 Africa Compound Chocolate Market by Application
12.1 Bakery
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Confectionary
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Frozen Desserts and Ice-Cream
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Beverages
12.4.1 Historical Trend (2018-2023)
12.4.2 Forecast Trend (2024-2032)
12.5 Cereals
12.5.1 Historical Trend (2018-2023)
12.5.2 Forecast Trend (2024-2032)
12.6 Others
13 Africa Compound Chocolate Market by Country
13.1 South Africa
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Egypt
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 Algeria
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter's Five Forces Analysis
14.2.1 Supplier's Power
14.2.2 Buyer's Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Puratos Group
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Cargill, Incorporated
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Ferrero International SA
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 The Buhler Holding AG
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Mondelez International, Inc.
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Fuji Oil Holdings Inc.
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Meiji Group
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Lindt & Sprungli AG
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Cocoa Processing Company Limited
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Cemoi Group
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Compound Chocolate Market: Key Industry Highlights, 2018 and 2032
2. Africa Compound Chocolate Market: Key Industry Highlights, 2018 and 2032
3. Africa Compound Chocolate Historical Market: Breakup by Type (USD Million), 2018-2023
4. Africa Compound Chocolate Market Forecast: Breakup by Type (USD Million), 2024-2032
5. Africa Compound Chocolate Historical Market: Breakup by Form (USD Million), 2018-2023
6. Africa Compound Chocolate Market Forecast: Breakup by Form (USD Million), 2024-2032
7. Africa Compound Chocolate Historical Market: Breakup by Application (USD Million), 2018-2023
8. Africa Compound Chocolate Market Forecast: Breakup by Application (USD Million), 2024-2032
9. Africa Compound Chocolate Historical Market: Breakup by Country (USD Million), 2018-2023
10. Africa Compound Chocolate Market Forecast: Breakup by Country (USD Million), 2024-2032
11. Major Importing Countries by Volume
12. Major Exporting Countries by Volume
13. Major Importing Countries by Value
14. Major Exporting Countries by Value
15. Africa Compound Chocolate Market Structure
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