The latest report by IMARC Group titled, “White Chocolate Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, finds that the global white chocolate market reached a value of US$ 17.6 Billion in 2017, growing at a CAGR of 1.5% during 2010-2017. White chocolate is not considered chocolate in the traditional sense of chocolate, as it does not contain chocolate solids or chocolate powder. Cocoa butter is the principal ingredient which provides white chocolate a distinctive flavour, different from the bitter and berry-like flavour of dark chocolate. The essential ingredients used in white chocolate are sugar, milk products, and cocoa butter. A fatty emulsifier – lecithin – is also added which helps in keeping all the ingredients intact. Sometimes vanilla, or vanilla essence is used to enhance the aroma and flavour of white chocolate.
The quality of white chocolate is determined by its colour. A good quality white chocolate has a pale yellow or ivory shade, and the ones that have whiter hue are considered inferior in quality. Owing to its varied applications, the demand for white chocolate is rising considerably. White chocolate is increasingly being used in a number of food products; cookies, chips, popcorns and cupcakes, and beverages; coffee, smoothies, milkshakes, etc. Nowadays, special oil-based colour is also added to white chocolate to makes different confectionary products, such as fondant, icing, frosting, modelling paste, etc. Apart from this, white chocolate finds a number of applications in the cosmetics industry. In this industry, white chocolate is an essential ingredient in the manufacturing of wax, oil, and nail enamel. As a result of these growing applications, the market for white chocolate is further expected to reach a value of US$ 18 Billion by 2023.
The market is segmented on the basis of distribution channels which include super- and hyper-markets, convenience stores, and non-grocery retailers. The market is also segmented on the basis of key regions. Some of the major markets for white chocolate are Western Europe, North America, Eastern Europe, Asia, Latin America, Middle East and Africa, and Australasia.
The report provides a deep insight into the global white chocolate industry covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. The report also provides a comprehensive analysis for setting up a white chocolate manufacturing plant. The study analyses the processing and manufacturing requirements, project cost, project funding, project economics, expected returns on investment, profit margins, etc. This report is a must-read for entrepreneurs, investors, consultants, and all those who have any kind of stake or are planning to foray into the white chocolate industry in any manner.
The report by IMARC Group has examined the global white chocolate market on the basis of:
- Super- and hyper-markets
- Convenience stores
- Non-grocery retailers
- Western Europe
- North America
- Eastern Europe
- Latin America
- Middle East and Africa
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