Top chocolate companies in the world

The love for chocolate is by all age group. The chocolates are considered to be good uplifting the mood. The demand for the chocolates is high especially the artisan chocolate produced. The chocolate industry works the best with the bean to bar. A research report by Mintel suggested that the total value of the chocolate market reached an estimated INR 172 billion in 2019 and is pegged to grow at a CAGR of close to 10% between the years 2019-2023. According to the report, the popularity of chocolate in India has increased, with 21% of Indians now consuming chocolate on a daily basis.

The artisans are innovating with the new and interesting flavours produced by them and is sent to the market. The consumers have changed the choices from money to the flavor and taste.

The key points shaping the global food industry

1) Indulgence:  When it comes to desserts, confectionery flavours and textures, then consumers today are increasingly looking for truly indulgent experiences.

2) Premiumization:  Consumers today are more conscious of the processes that go into making of the products they consume.

3) Health:  Chocolate has always been an indulging product but, a complete no-no for those looking to get fitter, yet several researchers have debunked this myth.

4) Sustainability:  As consumers become increasingly conscious about environment hygiene, brands are stepping up their game to promise sustainable production practices. Palm oil is extracted at great environmental cost, hence, several brands today are rethinking its use and instead switching to using other ingredients like coconut oil.

5) On-the-Go Products:   Since the pandemic has led to most people staying at home, the need for quick and easy meals has been on the rise.

The chocolates have been famous throughout t he world. The some flavors which are quite popular are as follow -

a. Fruits: The strawberries, raspberries and cherries being added to chocolate, but there is a whole new range of fruits being integrated into chocolates today.

b. Nuts: Hazelnut is the top nut ingredient in chocolate, followed by almonds and peanuts.

c. Nostalgic Indulgences: There are many flavors which give nostalgia and manufacturers are trying to make those flavours like cinnamon rolls and others in the market.

d. Flavourful Combinations: Salty snacks featuring confectionery coatings have become very popular. The best example of this trend would obviously be the beloved caramel and chocolate popcorn.

e. Herbs & Spices: As the preferences and the taste are changing the spices are witnessing a rise in popularity thanks to the increased emphasis on their health benefits. The flavor of chilli is also creating memories with the consumers.

f. Citrus & Sour: Exotic citrus ingredients, such as the Japanese yuzu, are going to remain popular in 2020. The more familiar citruses such as orange, mandarin, grapefruit, lime, and lemon continue to be popular.

 

Gifting – The chocolates have become a good and best option for the gifting on special occasions and festivals.

 

There has been rapid growth of the industry coupled with the new trends is set to expand Indian and global markets. Indian brand manufacturer are trying and adding new flavors with added health benefits to appeal to domestic consumers.

The market of chocolate is increasing and becoming strong day by day and producing the opportunities for everyone.