(Food-Beverage-News.Com, September 16, 2017 ) According to the report Europe Chocolate Flavors Market by Application (Confectionery, Bakery Products, Frozen Products, Dairy Products, Convenience Products, Others), and by Region - Industry Analysis, Size, Share, Growth, Trends, and Forecasts (20162021) published by Market Data Forecast, the Europe Chocolate Flavors Market is expected to grow at a CAGR of 5.77% and reach USD 135.42 billion in 2021 from USD 102.3 million in 2016.
The Europe Chocolate Flavors market is expected to show evident potential in the forecasting period. The market continues to build up momentum with an increase in the awakening of people regarding wide applications of chocolates in functional foods as well as the pharmaceutical industry.
Chocolate flavors are one of the most important ingredient in various food and beverage production. They are generally known for their high cocoa content and are typically sweet. They have various health related benefits as well like reducing incidences of high blood pressure or cholesterol and also the risks of strokes. These are extensively used in bakery, dairy products etc.
The growing market of Fairtrade and organic chocolates has in turn led to the growth of chocolate flavors market. Other factors responsible for driving the market growth include a variety of applications, health benefits related to chocolates, penetration in emerging economies. Apart from these, there are factors behind restraining the market growth as well. These include, dependence on west African countries for raw material supply, unstable economies in cocoa producing countries, and changing preferences of the consumers. These factors are holding the market down from reaching its actual potential.
The Europe Chocolate Flavors market is divided based on application and geography. The segmentation on the basis of application is done into confectionery, bakery products, frozen products, convenience products, dairy products, and other applications. The bakery products dominated the market share due to extensive usage across the globe. On the basis of geography, the Europe market is analysed under various regions namely U.K, Germany, Spain, Italy and France.
Some of the major competitors in the Europe Chocolate Flavors market are: Barry Callebaut Olam International Ltd. Blommer Chocolate Company Archer Daniels Midland Company Cargill Incorporated Frutarom Industries Ltd Givaudan S.A CEMOI Group International Flavors & Fragrances Inc. Puratos Group.
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