Published on : Jan 28, 2016
Chocolate is one of the most popular food product across the globe due to which a large number of foodstuffs have been prepared by making the use of chocolates in it. Chocolate is classically a sweet food product that is prepared by using the cacao seeds. These seeds are first roasted and then grounded, and often flavored. It is usually made in the form of a paste, liquid, or in a block, and often used as a flavoring component in many other foods. The cultivation of cacao seeds has been witnessed for at least three millennia. The cacao seeds bear an intensely bitter taste and need to be fermented to develop the sweet flavor.
Presently, gifting chocolates that are molded into different shapes have become a new tradition on most of the holidays. Furthermore, chocolate is used in hot as well as cold beverages such as hot chocolate and chocolate milk.
The growing awareness regarding the health benefits associated with consuming dark chocolates is the major factor that is expected to boost the demand for chocolates in the next few years globally. In addition, the dark chocolates that are rich in antioxidants and the potentiality of preventing several diseases including cardiac disorders is another factor fueling the growth of the global chocolate market in the next few years.
Chocolates are available in three different types around the world such as:
- Dark Chocolates
- Milk Chocolates
- White Chocolates
Among the different geographical regions, the Asia Pacific chocolate market is the most lucrative market owing to the growing popularity of chocolates in this region. The local chocolate-producing companies offer cheap products that have increased the popularity of chocolates in the Asia Pacific countries. The status of a chocolate of being a luxury product have been brought down as an everyday commodity and are consumed at a large scale. Nevertheless, the international brands have created a niche and are expected to grow steadily in the global market.
Some of the key companies operating in the global chocolate are Hershey Foods Corp., Ferrero Group, Moonstruck Chocolate Co., Ghirardelli Chocolate Co., Kraft Foods, Nestle SA, and Mars Inc. Many other brands are coming up with innovative products to gain the competitive advantage of the global chocolate market.