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Market Analysis:Cocoa Fillings Market is projected to grow at the CAGR of 4.70%. Cocoa & Chocolate Fillings are majorly used in bakery and confectionery products to give the product texture, sweetness, and flavor. Fillings usually range from fat to water-based fillings for diverse applications in bakery, confectionery and dairy industry to develop right formulation in terms of texture, taste, viscosity and mouth feel. Various food safety organizations in different regions has defined guidelines related to processing, puffing, freezing, and packaging which plays a crucial role in Cocoa & Chocolate Fillings Market. The fillings can be in various forms and the viscosity is controlled by the dry substance, crystals, and texturizing agents in the final product.
Ingredients such as coconut oil, palm oil, soybean oil, rapeseed oil and cottonseed oil are regarded less expensive compared to cocoa butter and are considered as key ingredients to prepare cocoa and chocolate fillings. These alternatives help in improving the fat stability quotient in the finished product, thus enabling the introduction of reliable products, reduces fat migration in multi-layer products. Also, compounds or fatty glazes are regarded as a potential cost-effective alternative to couverture.
Furthermore, 5% of the cocoa butter can be replaced by partly mixable vegetable fat (CBR) or a different composition of non-mixable vegetable fat. This leads to the formation of more elastic and softer version of coating. Also, bakery & confectionery industry is undergoing a massive advancement and various new products are developed by key bakery & confectionery manufacturers which in turn is expected to escalate the sales of cocoa fillings soon.
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Major Key Players Analysis:
This report includes a study of strategies used in the market, mergers and acquisitions in juice concentrate, multiple product launch by cocoa fillings market players. It further includes product portfolios and developments of leading major players which includes
The leading market players in the Global Cocoa Fillings Market primarily are Alpezzi Chocolate (Mexico), PURATOS (Belgium), Nestle S.A. (Switzerland), Barry Callebaut (Switzerland) and Cargill Incorporated (U.S.)
The market players have increased their level of investment in research to identify right formulation and to improve product functionality to capture lion’s share and create brand recognition in cocoa fillings market. Manufacturers indulge in maintaining transparency and allow food traceability in order to manage and mitigate risk and lowering the impact of recalls and lowering liability costs. The global cocoa fillings market is segmented based on ingredients, application, distribution channel and regions of Cocoa fillings.
Segments:
Cocoa Fillings Market has been segmented based on ingredients such that includes Cocoa Butter, Cocoa Paste, Cocoa Beans, Unsweetened Cocoa Powder, Cocoa Liquid and others. Cocoa beans are estimated to retain its dominance throughout the forecast period and accounting 31.21% of market proportion by the end of 2017. Among the application, Bakery & Confectionery Industry is holding maximum market proportion and expected to reach USD 161.34 Mn by the end of the forecast period. Based on Distribution Channel, Global Cocoa Fillings Market has been segmented into store based and non-store based.
Key Findings:
Asia Pacific region finds a lucrative opportunity in the global cocoa fillings market and it is estimated to register a massive growth of 4.99% during the forecast period. Rising growth of bakery & confectionery industry is one of the significant factors for the growth for cocoa fillings market
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Regional Analysis:
Cocoa Fillings Market is segmented into North America, Europe, Asia Pacific and Rest of the world. Among these, Europe is projected to retain its dominance throughout the forecast period. Europe is estimated to reach to USD 192.79 Mn by the end of 2023. The region is projected to grow at a substantial growth of 4.45% during the review period of 2017-2023. The growth is contributed by the increasing growth of bakery & confectionery products and also increasing per capita disposable income of consumers.
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