Published Date : Feb 22, 2016
Changing preferences and food habits of consumers have propelled the growth of the global chocolate industry. Rise in disposable income, coupled with rapidly growing youth population has further supported the growth of the industry. In regions such as Asia Pacific, developing economies including China and India are driving the demand from the chocolate market. Rise in the number of upper- and middle-class consumers in these countries is one of the primary reasons behind the growth of the market.
Demand for Molded Chocolate Bars is the Highest
On the basis of product type, the global chocolate industry can be segmented into boxed chocolate, countline chocolate, novelties, straightline chocolate, molded bars, and others. The easy availability of molded bars across the major retail chains has boosted their demand in the market. Molded chocolate bars are made by melting purchased chocolate disc or blocks. Attractive shapes of novelties and innovative variations are expected to drive the demand from the global chocolate market.
Rise in Bean-to-Bar Chocolate Shops across America
The most common brands in the global chocolate industry are Mars Inc., Ferrero S.P.A., Mondelez International Inc., Nestle, Hershey, and Lotte Co. Lately, the demand for the premium handcrafted chocolates has been rising and boutique chocolate makers are giving tough competition to the established brands. The bean-to-bar chocolate shops are trying their hands at every step of the chocolate-making process, right from purchasing the fermented cacao beans to roasting, grinding, and tempering. A rising number of American confectioners are getting interested in this labor-intensive chocolate crafting business. The first domestic bean-to-bar chocolate maker in the U.S. was San Francisco-based Scharffen Berger, which was acquired by Hershey’s in 2005. Hogarth Craft Chocolate, Ethereal Confections, and Theo Chocolates are some of the key names in the crafted chocolate market in the United States.