Sweet moment for Chocolate Flavors Market
The market in Europe is projected to grow at the highest CAGR due to the rising standard of living and growing demand for functional foods
The Chocolate Flavors Market is driven by increasing sustainable cocoa production and supply chains, growing economies, increasing seasonal demands, and demand for functional foods that have a potentially positive effect on health. The Chocolate Flavors Market is projected to grow with the increasing seasonal & festive demand and awareness regarding health and nutrition.
The market size includes application of cocoa powder in different food sectors. The market inEuropeis projected to grow at the highest CAGR due to the rising standard of living and growing demand for functional foods. Consumers are interested in purchase of cocoa & chocolate products as chocolate flavors are becoming a preferred additive in various food & beverage applications.
The key players in the market have adopted innovative product offerings and expansion & investment as strategies to garner a larger share in the market. During the review period ofJanuary 2010toFebruary 2015, the key active players in theChocolate Flavors Marketwere Archer Daniels Midland Company (U.S.), Cargill, Incorporated (U.S.), and Barry Callebaut AG (Switzerland).
According to MarketsandMarkets is world’s No. 2 firm in terms of annually published premium market research reports, the Chocolate Flavors Market is projected to grow at a CAGR of 5.0% to be valued at more than$350 Millionby 2019.