The global chocolate filling market size is estimated to grow progressively owing to the increasing popularity of chocolate inclusion products, observes Fortune Business Insights™ in its report, titled “Chocolate Filling Market Size, Share & Industry Analysis, By Type (Milk Chocolate, Dark Chocolate, White Chocolate, Others), By Application (Cookies, Cupcakes, Breakfast Cereals, Others) and Regional Forecast, 2022-2029”. Rising applications of chocolate as food inclusion for adding flavor, aroma, and texture in food items is increasing the demand for chocolate fillings in the food & beverages sector. Companies in various segments including biscuits, savory, breakfast cereals, and nutritional products, such as protein supplements and energy drinks, are associating their products with chocolate fillings in order to attract more customers.
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Increasing Popularity of Chocolate Inclusion in Food Items to Drive Market Growth
Changing taste preferences among consumers coupled with their increasing indulgence in products with innovative ideas are driving growth for the global chocolate filling market. In addition, increasing demand for chocolate filled products is encouraging food companies to expand their product portfolio, which is bolstering the demand for chocolate fillings, further driving the market growth. However, fluctuation in raw material prices due to shortage of basic ingredients, such as cocoa, is expected to hinder market expansion.
Discretionary Spending Habits of Consumers in Asia Pacific to Enhance Market Growth
The chocolate filling market in Asia Pacific is expected to witness a considerable growth in the upcoming years owing to the increasing discretionary spending habits of consumers in the region. Growing interest of international players in major countries including India, Australia, and Japan is expected to further strengthen the demand.
North America is estimated to hold a significant share in the market owing to the presence of prominent market players in the region including Mondelez International, Mars Incorporated, and others. Increasing consumer shift toward the consumption of dark chocolate is expected to further enhance the market growth for chocolate fillings.
Launching Innovative Products to Help Prominent Players Increase their Footprint
Key players operating in the market are focusing on innovative product launches in order to increase their footprint in the market. For instance, In July 2018, Nestle India expanded its product portfolio by launching Nesplus, an exciting range of breakfast cereals. This will help the company gain market share.
In May 2018, Berry Callebaut Group inaugurated its chocolate academy center in South Africa. This will help the company meet the growing demand for chocolate confectionaries in the region.
In March 2017, Cargill Cocoa and Chocolate launched its new addition of coatings and fillings. This will help the company offer extended capabilities to the manufacturers.
List of Key Players Covered in the Chocolate Filling Market Report:
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