Cocoa Market

Global Cocoa Market, By Source (Conventional and Organic), By Process (Dutch Process and Natural Process), By Product (Cocoa Liquor, Cocoa Butter and Cocoa Powder), By Application (Bakery Items, Beverages, Confectionary, Cosmetics, functional Foods, and Pharmaceuticals), and By Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa) - Trends, Analysis, and Forecast till 2029

PMI103119 | Food Ingredients

Jul 2019 | 178 | PDF

Cocoa beans are dried and fermented before being processed to extract butter, oil, powder, and liquor along with other residual solids. Cocoa is extracted from three common plants including for astero, criollo, and trinitario. Essential ingredient in products related to baking, dairy, and even beverages is cocoa or coco. Cocoa powder is utilized in syrups, toppings, confectionery, as a coloring agent, and even in beverages in various industries. To provide taste, flavor, and texture to food, in addition to nutritional and functional benefits cocoa and chocolate are used Characteristics of cocoa butter provide a melt-in-the mouth sensation and easy removal of chocolates from the molds. The unpleasant taste of tablets is masked by chocolate and encourages its usage for medicinal purposes.

The major factor that drives the global cocoa market is widening scope for cocoa powder applications, consistently rising demand for chocolates, and rising preference for dark chocolate. There are increase in application of cocoa which enhances the target market globally. Cocoa has high health benefits and is used in some pharmaceutical industry which boosts the target market. Cocoa manufacturers dip their toes into novel production methods of organic and gluten-free products due to the issue of customer quitting chocolates, cocoa market is to witness an impressive growth in the coming years. Seasonal and festive related sale will increases the target market in coming years. However, highly unstable economies in cocoa-producing countries is the major restrain of global cocoa market. High raw material prices also affects the growth of this target market. Another factor includes increasing prices for cocoa products and chocolates in particular affects the growth of cocoa market.

Global cocoa market is segmented into source, process, product, application and region.

On the basis of source, the market is segmented into conventional and organic. The organic type of cocoa seeds is in highly demand in the industrial markets. On the basis of process, the target market is segmented into Dutch process and natural process.  Natural cocoa is natural powder from roasted cocoa beans, and is acidic and bitter with a very strong and concentrated chocolate flavor. On the basis of product type, the target market is divided into cocoa liquor, cocoa butter and cocoa powder. On the basis of application, the target market is segmented into bakery Items, beverages, confectionary, cosmetics, functional foods, and pharmaceuticals. The bakery and confectionaries has high utilization of cocoa.

On the basis of region, the global cocoa market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. Revenue contribution from the Europe cocoa market to the global cocoa market is likely to remain comparatively high, and is expected to remain the dominant regional market over the forecast period. North America will also be a lucrative region for sales of cocoa products, throughout the projection period. 

The key players in the global cocoa market includes Barry Callebaut Group, Mars Incorporated, Cargill Inc., Carlyle Cocoa Co, Ltd., Archer Daniels Midland (ADM) corporation, Blommer Chocolate Company, Cocoa Processing Company, Newtown Foods Pvt. Ltd., Puratos Group, The Hershey Company Pvt. Ltd.

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