Global Cocoa Fillings Market to Grow at 4.7% CAGR through 2023, Predicts MRFR in Its Topical Report Available at MarketPublishers.com
15 Jan 2018 • by Natalie Aster
LONDON – In the wake of the constantly changing lifestyles and expanding dietary pattern, convenience food has emerged to play a significant role in defining consumers’ choices of food in the modern world. The usage of cocoa and chocolate fillings in different bakeries and confectionary products was initiated in Western countries, and it spread to other regions at a robust pace. Today, the rising consumption of convenience food is spurred by the strong desire of consumers to create more leisure time, increasing disposable incomes and purchasing power (especially in the developing regions), rising middle-class population, amidst other favourable factors.
The rising demand of convenience food is set to give a boost to the cocoa fillings market growth. Globally, the cocoa fillings market is anticipated to grow at a 4.7% CAGR between 2017 and 2023. By late 2023, the value of this market will likely reach USD 523.45 million.
Europe currently ranks the dominant regional market for cocoa fillings; it is predicted to increase at a 4.45% CAGR through to 2023 to amount to the value of USD 192.79 million. The APAC region presents lucrative growth potential for the cocoa filings market; the APAC cocoa fillings market is poised to increase at a 4.99% CAGR up till 2023.
Amid all applications, the bakery and confectionary sector is expected to maintain the leading market position; it is forecast to increase at a 4.46% CAGR to exceed USD 165 million by 2023.
The topical research report “Global Cocoa Fillings Market – Trends & Forecast, 2017-2023” prepared by Market Research Future (MRFR) presents a close look at the world’s cocoa fillings market landscape and dynamics. It sheds light on the major forces influencing the market growth, canvasses the prevailing trends and points out the emerging growth opportunities and challenges. Besides, this report provides access to a detailed analysis of the market segmentation (basing on ingredients, applications, distribution channels and regions) with vital info on the size, shares and growth rates of the key market segments. This research report also features the competitive landscape and profiles the top companies engaged in the cocoa fillings market, and offers a future outlook for the market through to 2023, etc.
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