White chocolate is made with cocoa butter, sugar, milk products, vanilla, and a fatty emulsifier called lecithin that holds all the ingredients together. Among these, cocoa butter is the prime ingredient used in white chocolate which provides a subtle flavour. Traditionally, white chocolate is not considered ‘chocolate’ in proper sense as it does not contain chocolate solids or chocolate powder, which gives chocolates a bitter, tannic, and berry-like flavour. Rather, the quality of white chocolate is determined by its colour. Although, it is available in white, pale yellow or ivory colours, the latter two are considered superior as they tend to contain more percentage of cocoa butter. The latest report by IMARC Group titled, “White Chocolate Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, finds that the global white chocolate market reached a value of US$ 17.82 Billion in 2020.
As a result of its distinctive taste and properties, white chocolate is used in a number products such as snack-foods – chips, cookies, popcorns and cupcakes; beverages – milkshakes, coffee and smoothies; and cosmetic – wax, nail enamel and oil. Looking forward, IMARC Group expects the global white chocolate market to exhibit stable growth during the next five years.
The report has analysed the global white chocolate market on the basis of distribution channels, covering super- and hyper-markets, convenience stores, non-grocery retailers and others. The report has further segmented the market on the basis of region, covering Western Europe, North America, Eastern Europe, Asia, Latin America, Middle East and Africa and Australasia. Currently, Western Europe represents the largest region for white chocolate, accounting for the majority of the market share.
This 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.
Key Questions Answered in This Report:
Due to the spread of the coronavirus disease (COVID-19), the market is currently experiencing negative growth. This can also be accredited to lockdowns imposed by governments of several countries as a response to the pandemic, consequent disruptions in the supply chain of raw materials and the unavailability of the adequate workforce.
The global white chocolate market reached a value of US$ 17.82 Billion in 2020.
According to the estimates by IMARC Group, the global white chocolate market is expected to exhibit stable growth during the next five years.
The expanding applications of white chocolate in the food and beverage (F&B) industry to enhance the flavor are bolstering the growth of the market.
The increasing utilization of white chocolate in the production of cosmetic products, along with the introduction of product variants made with goat or non-dairy milk, is acting as a major trend in the market.
Based on the distribution channel, the market has been classified into supermarkets and hypermarkets, convenience stores, non-grocery retailers, and others.
On the geographical front, the market has been segmented into Western Europe, North America, Eastern Europe, Asia, Latin America, Australasia, and Middle East and Africa.
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