There are many
great things
about
chocolate.
Here is how the
market works:
Europe dominated the global market with a share of
over 47% in 2021. Rising consumer demand for dark
The global chocolate market size was estimated at
USD 113.16 billion in 2021 and is anticipated to
chocolate in the region is a major driver of regional Top Companies:
grow at a compound annual growth rate (CAGR) of
market growth. According to ITC Trade Map 2020
data, Europe imported almost 1,521 thousand tons
•Barry Callebaut
3.7% from 2022 to 2030. Consumer consciousness
regarding the health benefits of eating high-quality
of chocolate products. Furthermore, Europe was also
the largest chocolate-producing region with the
•Chocoladefabriken Lindt &
chocolate, which remains the key driver of the
market. Another factor driving product demand in
highest per capita consumption estimated to be 5.0 Sprüngli AG
kilograms as per CBI, Ministry of Foreign Affairs.
the coming years is the growing demand for vegan,
organic, gluten-free, and sugar-free chocolates. The
These factors are predicted to boost the regional •Mondelēz International,
market in the coming years. Middle East and Africa
COVID-19 pandemic moderately impacted the global
market. Governments across the globe were forced
is estimated to be the fastest-growing region with a Inc.
to impose lockdowns due to the rapid spread of
CAGR of 6.7% over the forecast period of 2022-
2030. This growth is attributable to the increased
•Nestlé
Copyright © 2024 by Boston Consulting Group. All rights reserved.
infection, forcing many businesses and production
facilities to shut down temporarily. This affected the
availability of products in retail stores in the region.
Additionally, the region should have more access to
•The Hershey Company
global supply and distribution chain thereby
negatively impacting the market growth. However,
products owing to supportive government policies •Ferrero Group
such as tax benefits for chocolate producers and
the demand for chocolates increased during the
pandemic as people stocked up on packaged and
grinders. Increasing demand for artisanal chocolates •Mars, Incorporated
is another factor contributing to regional growth.
processed foods. According to the State of Treating
Report 2021 by the National Confectioners
Moreover, rising consumer awareness, product •The Australian Carob Co.
Association (NCA), chocolate rose by 4.2% during
innovation, disposable incomes among middle-class
consumers, and channel development by
•Meiji Holdings Co., Ltd.
the pandemic period in 2020.
manufacturers to reach a wider consumer base are
some of the major factors expected to boost the
•Arcor
region's chocolate sales.
Source: 1
Google.com
All about chocolate manufacturing
The process begins with picking of cocoa pods from the cacao tree by cocoa farmers which requires expertise. Each pod
contains 30-50 beans. Once the beans are removed from the pods, they are coated in a sweet white pulp which is fermented
by exposing to oxygen. The beans are then left to dry to avoid wet beans from over fermenting. The beans are then shipped
to various destinations.
At the factory, the beans are cleaned to remove debris and mouldy beans. They are then cracked to separate the shell from
the nib, then they are roasted until they are dark and rich in colour to accentuate the natural flavours and aromas of the
nibs. Roasting can happen before cracking too.
The nibs are ground to produce a thick liquid called cocoa mass. Some of this is pressed to separate cocoa butter from the
compressed solid cocoa
Once the solid cocoa is ground, we are left with cocoa powder. Some chocolate makers grind their chocolate for days to
create extra smooth chocolate. Extra ingredients such as sugar, milk powder, or vanilla can be added during this stage to
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form cocoa liquor.
This is evaporated to make a chocolate crumb. Thousands of litres of milk are provided by Tasmanian dairy farmers. More
chocolate liquor and other ingredients are added to form a liquid. Extra cocoa butter is sometimes added to give the
chocolate an extra creamy mouthfeel.
Next up, the liquid gets whipped around until it has the right flavour.
The final process involves tempering, which means the chocolate gets mixed, cooled, and shaped under precise conditions.
Tempering is the process of raising and lowering the temperature of chocolate to alter the crystals within. Tempered
chocolate is shiny, firm and has the recognisable snap.
Once the chocolate is tempered, it’s ready to be poured into moulds to make bars of chocolate. The moulds are shaken or
tapped against a hard surface to remove air bubbles. They are then set aside to cool down. 2
Icons to use
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