Africa Compound Chocolate Market Report and Forecast 2024-2032

Africa Compound Chocolate Market Outlook

The Africa compound chocolate market size is projected to grow at a CAGR of 6.90% between 2024 and 2032. The major drivers of the market include rising disposable incomes and expansion of the frozen desserts sector.

Key Trends in the Market

Compound chocolate is derived from the combination of sugar, milk, vegetable fats such as coconut oil, kernel oil, and soy, and emulsifiers, with cacao bean as its main ingredient. It is commonly referred to as baker’s chocolate, non-temper coating, confectionary coating, and coating chocolate.

• Changing lifestyle and altering eating habits of children are boosting the Africa compound chocolate market growth. Increased consumption of cereals is fuelling the requirement for compound chocolate as various manufacturers are introducing chocolate flavours in order to appeal to young children.

• Increasing consumption of compound chocolate among consumers in Africa owing to rising disposable incomes and changing eating patterns, along with the rising applications of compound chocolate in various food products including cookies, pastries, and cakes in the form of coatings, chunks, and drizzles is aiding the market growth.

• Growing health consciousness among consumers is positively the expansion of the compound chocolate market in Africa. Introduction of healthy chocolate alternatives such as low sugar or sugar free compound chocolates is broadening the consumer base of the product in Africa.

Africa Compound Chocolate Market Analysis

Based on type, the market is segmented into dark chocolate, white chocolate, and milk chocolate. By form, the market is divided into chocolate chips/drops/chunk, chocolate coatings, and chocolate slab, among others. On the basis of application, the market is categorised into bakery, confectionary, frozen desserts and ice-cream, beverages, and cereals, among others. On the basis of country, the Africa compound chocolate market segmentation includes South Africa, Egypt, Nigeria, and Algeria, among others.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

• Puratos Group

• Cargill, Incorporated

• Ferrero International SA

• The Bühler Holding AG

• MondelÄ“z International, Inc.

• Fuji Oil Holdings Inc.

• Meiji Group

• Lindt & Sprungli AG

• Cocoa Processing Company Limited

• Cémoi Group

• Others

Market Share by Application

Bakeries are anticipated to account for a significant Africa compound chocolate market share owing to the rising applications of compound chocolate in the baking industry. Compounds chocolates are widely used in baked products such as cakes, cookies, and pastries either as a core ingredient or for decorative purposes. The utilisation of compound chocolates for coating on baked products boosts the aesthetic appeal of the item while having no detrimental effects on the shelf life of the product.

Market Share by Type

Milk chocolates are expected to hold a significant share of the market owing to the growing popularity of milk chocolates in Africa. The sweet and creamy flavour of the milk compound chocolate due to the presence of cocoa solid, sugar, cocoa butter, and milk powder is increasing its demand. The smooth texture makes it suitable for various applications such as baking and for preparation of frozen desserts, fuelling the Africa compound chocolate market demand.

Competitive Landscape

Puratos Group was founded in 1919 and is headquartered in Brussels, Belgium. The company offers a range of innovative food ingredients and services for chocolate, bakery, and patisserie sectors around the globe.

Cargill, Incorporated is private food company that was founded in 1865 and is headquartered in Minnesota, United States. The company is known for processing poultry, value added egg and meat, and beef products to the food service companies.

Ferrero International SA was established in 1946 and has its headquarters located in Alba, Italy. The multinational company manufactures branded confectionary and chocolate products and sells them to their consumers across the globe.

Other market players include The Bühler Holding AG, MondelÄ“z International, Inc., Fuji Oil Holdings Inc., Meiji Group, Lindt & Sprungli AG, Cocoa Processing Company Limited, and Cémoi Group, among others.

Key Highlights of the Report