The global chocolate liquor market reached a value of about USD 6.1 billion in 2021. The industry is projected to grow at a CAGR of around 3.7% in the forecast period of 2022-2027 to reach a value of USD 7.3 billion by 2027.
The global chocolate liquor industry report gives a comprehensive analysis of the industry including key segments, trends, drivers, restraints, the competitive landscape, and other essential market aspects. In the last few years, the industry has gone through optimum development and is expected to grow even further in the near future. There has been an expansion of the chocolate liquor market because of the increasing investments in research and development processes, innovations of product lines, technological inventions, and rising competitiveness. The key demand indicator in the industry report is the highest category spender by region— Europe (Germany).
Chocolate liquor is a pure form of cocoa mass or cocoa paste which can either be obtained in solid or semi-solid types and is utilised as the base for all sorts of chocolates found in the market. It is called by various names, including cacao liquor, cacao mass, baking chocolate, cocoa liquor, cocoa mass, and just “chocolate.” This cocoa paste consists of both cocoa solids and cocoa butter in approximately similar measure. It is called chocolate liquor as many centuries prior; it was developed in the form of liquid or had fluid consistency which was used to produce chocolate. The chocolate liquor industry report comprises segments based on its product type (White Chocolate Liquor and Black Chocolate Liquor), application (Chocolates and Confectionery, Ice Cream, Food and Beverage Coatings, Bakery Products, and Other End-use Industries), cocoa variety (Criollo, Forastero, Trinitario and others), forms (wafers, blocks, chips, and liquid cocoa liquor) and region (North America, Europe, Asia Pacific, Latin America, the Middle East and Africa).
It is anticipated that Germany will hold the prominent share of exceeding 18.3% in the European chocolate liquor market. The primary reason behind this is the existence of important manufacturers of chocolate products in the region that is leading to the high level of demand for chocolate liquor. Germany is the largest producer and consumer of chocolates while exporting a substantial volume of it globally. The major drivers that are leading to the growth of the chocolate liquor industry can be credited to the increasing investments in research and developments, new companies entering the market, introducing innovative products and technologies, correct distribution of resources for effectiveness, and increasing competition between business competitors to augment regional and customer base. Various government strategies and inducements and promising laws are expected to ascertain the progress of the chocolate liquor market in the immediate future. Moreover, rise in the spending capability of the consumers along with the increase in household income will additionally lead to the further addition to the market profits.
One the challenges faced by the consumers is the negative impact on their due to the consumption of adulterated chocolate and chocolate liquor which is limiting the growth of the market. The market is receiving chocolates and chocolate liquor products that are adulterated with cheap quality sugar, adding minerals to increase the weight of the products, include starch in the production process, and using non-permitted artificial colours that may bring down the quality and taste.
The global chocolate liquor industry report by Procurement Resource gives an in-depth analysis of the best buying practices followed by major chocolate liquor producing and products utilising regions across the globe, such as engagement models, contract terms, and buyer and supplier negotiation levers, among others.
Chocolate liquor is not a variety of alcohol however it is the solid form of cocoa that is the basic ingredient use in the preparation of chocolates. The fermented cocoa beans are roasted and hulled and thereafter, the subsequent nibs of the beans are crushed to form a dark coloured paste which is called chocolate liquor. The various varieties of chocolates consist of different quantity of chocolate liquor, for example, a very dark, bittersweet chocolate may include about 70% - 80% of chocolate liquor, while a creamy milk chocolate may have around 28% - 35% of its measure.
There has been a growth in the demand for premium and speciality chocolates in the past few years. The delicate flavour of chocolate liquor is one of the important reasons behind the surge in the market demand. Moreover, the demand for the product is rising due to the introduction of the new premium brands of chocolates in various developed regions. In addition, the customer access to these expensive brands of chocolates is also increasing resulting in more sales. Several manufacturers are marketing different flavours to meet the interests of the consumers for example, flavours such as chocolate and vegetables (chocolate flavours mixed with beetroot in cakes and adding kale flavour in chocolate bars) have gained substantial popularity in the last few years and across a range of categories.
The major regions in the industry North America, Europe, Asia Pacific, Latin America, the Middle East and Africa, with Europe accounting for the largest share of the market.
Criollo and Forastero are projected to continue to be in extensive demand as cocoa liquor produced from these varieties are possibly influencing the consumer taste likings relatively than to Trinitario and other cocoa variations. It was anticipated that the Forastero cocoa will hold more than 75% of the market share in 2021 and to grow at a CAGR of 2.2% between 2022-2032. It has been estimated that based on the form, 2022 and the years ahead will witness the high sale of cocoa liquor form of wafers to be traded globally. It is also reported that the chocolates and confectionaries will be the biggest end-use industry for cocoa liquor, with ice cream production to be second in line.
1. Executive Summary
2. Chocolate Liquor Market Snapshot
2.1. Chocolate Liquor Market Outlook
2.2. Chocolate Liquor Category Analysis, by Type
2.2.1. Natural Cocoa Liquor
2.2.2. Dutch Cocoa Liquor
2.3. Regional Overview
2.3.1. North America
2.3.3. Asia Pacific
2.3.4. Latin America
2.3.5. Middle East and Africa
3. Impact of Recent Events
4. Chocolate Liquor Value Chain Analysis
5. Chocolate Liquor Production Process
6. Trade Analysis
7. Major Risk Factors in Sourcing
8. Chocolate Liquor Cost Structure
9. Chocolate Liquor Price Analysis
10. Key Demand Indicator Analysis
11. Key Price Indicator Analysis
12. Chocolate Liquor Market Dynamics
12.1. Drivers & Constraints
12.2. Industry Events
12.3. Innovations & Trends
12.4. SWOT Analysis
12.5. Porter’s Five Forces
12.5.1. Buyer Power
12.5.2. Supplier Power
12.5.3. Threat of New entrants
12.5.4. Threat of Substitutes
12.5.5. Industry Rivalry
13. Feedstock Market Analysis
13.1. Market Overview
13.2. Price Analysis
14. Industry Best Practices
14.1. Sourcing Strategy
14.2. Procurement Model
14.3. Contract Structure
14.4. Negotiation Levers
14.5. Pricing Model
14.6. Key Factors Influencing the Quotation
15. Key Supplier Analysis
15.1. Cargill Incorporated
15.2. Nestlé S.A
15.3. The Hershey Company
15.4. The Archer-Daniels-Midland Company
15.5. Mars, Incorporated
In 2021, the global attained a value of around USD 6.1 billion.
In the forecast period of 2022-2027, the market is projected to grow at a CAGR of 3.7%.
The rising disposable incomes, increasing population, rising food and beverages and cosmetics industries, and the rising number of health-conscious consumers are the major drivers of the industry.
The major regions in the industry are North America, Europe, Asia Pacific, Latin America, the Middle East and Africa), with Europe accounting for the largest share of the market.
Rise in the focus of the prominent manufacturers on innovations will generate prospects of growth of the market and further shape the future.
The major players in the industry are Mars, Republica Del Cacao, Ghirardelli, FUJI OIL, Alpezzi Chocolate, Cargill, Nestle SA, Foley’s Candies LP, Puratos, Hershey, Blommer Chocolate Company, Kerry Group, Ferrero, Barry Callebaut among others.
The global chocolate liquor market reached a value of about USD 6.1 billion in 2021 and is projected to grow at a CAGR of around 3.7% in the forecast period of 2022-2027. Chocolate liquor is a pure form of cocoa mass or cocoa paste which can either be obtained in solid or semi-solid types. The chocolate liquor industry report comprises segments based on its product type, application, cocoa variety, forms, and region. Germany is the largest producer and consumer of chocolates while exporting a substantial volume of it globally. It is anticipated that Germany will hold the prominent share of exceeding 18.3% in the European chocolate liquor market.
The major drivers that are leading to the growth of the chocolate liquor industry can be credited to the increasing investments in research and developments and introducing innovative products and technologies by major companies in the market. Some of the prominent market players are Mars, Republica Del Cacao, Ghirardelli, FUJI OIL, Alpezzi Chocolate, Cargill, Nestle SA, Foley’s Candies LP, Puratos, Hershey, Blommer Chocolate Company, Kerry Group, Ferrero, Barry Callebaut among others.
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