Global Chocolate Flavors Market Will Reach USD 398 Million By 2021

Global Chocolate Flavors Market Will Reach USD 398 Million By 2021

ID: 2429 | October 2018 | Region: Global

The Chocolate Flavors Market report published by Market Data Forecast provides a detailed account of the Market Trends via Customized Research presented as Strategic Analyses, Company Profiles, Competitive Landscape, etc. According to the report, the Chocolate Flavors Market is estimated to be USD 310 million in 2016 and predicted to rise to USD 398 million by 2021 with a CAGR of 5.15%. The market is segmented by Application (Confectionery, Bakery Products, Frozen Products, Dairy Products, Convenience Products, Others). Further, the market is also geographically segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa.

According to the current market trends, the market is showcasing huge potential in the years to come. This potential can be attributed to the factors such as developing a market for organic and fairtrade chocolate, a wide range of applications, penetration in emerging economies. On the other hand, there are few factors hindering the growth of the market. These factors include unstable economies in cocoa producing countries around the globe, dependence on African countries for the supply of cocoa and finally the changing consumer preferences.

The global chocolate flavors market is segmented broadly on the basis of application and geography. Based on segmentation by geography, the market is dominated by the bakery products segmented, as a result of the rising consumption of bakery products in all regions of the world.

Based on geography, the market is analyzed under various regions across the globe. Among these regions, Europe was found out to be the largest as well as the fastest growing market over the given forecast period.

There are various companies in the chocolate flavors market competing for their fair share. Among these the major ones taken into account in the report are, Archer Daniels Midland Company, Blommer Chocolate Company, Barry Callebaut, Cargill Incorporated, Frutarom Industries Ltd, CEMOI Group, Givaudan S.A, Olam International Ltd., International Flavors & Fragrances Inc., Puratos Group.

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