Latest
industry research report on: Global Cocoa Market | Industry Size,
Share, Research, Reviews, Analysis, Strategies, Demand, Growth,
Segmentation, Parameters, Forecasts
Cocoa
liquor sub-segment likely to surpass cocoa powder sub-segment in terms
of value share in the coming decade, owing to an increase in demand for
cocoa liquor
Cocoa
powder falls under both conventional and organic categories. In 2016,
the cocoa powder sub-segment in the conventional category was estimated
to account for a market value share of more than 30% in the global cocoa market.
This segment is anticipated to witness a slight drop in market value
share and be valued a little less than 35% by the end of the forecast
period. The cocoa liquor sub-segment in the conventional category is
expected to be the most attractive sub-segment in the global cocoa
market over the forecast period, registering a CAGR of 4.3% in terms of
value during the forecast period.
In
2016, the cocoa powder sub-segment in the organic category was
anticipated to hold a meagre market share of a little over 18%, while
the cocoa liquor sub-segment in the organic category was projected to
hold the highest market share of 45%. The cocoa liquor sub-segment in
the organic category is expected to remain dominant throughout the
forecast period.
Rising demand for chocolates and cocoa brownies is anticipated to boost the growth of the cocoa powder sub-segment
Cocoa
powder is an essential ingredient used to make a variety of dark
chocolates, thus increasing the popularity of dark chocolates across the
globe, especially in developing countries. This is driving the growth
of the cocoa powder sub-segment in the global cocoa market. Rising
awareness among adult consumers across the globe regarding the various
health benefits associated with dark chocolate has been contributing to
the growth in consumption of chocolates made of cocoa powder. Another
factor creating robust development in the cocoa powder sub-segment is an
increasing inclination of young consumers towards chocolate. Primary
consumers of chocolate are children, but as per the current scenario,
chocolate is gaining popularity amongst young adults, as it helps in
lowering cholesterol, which is helpful in maintaining fitness and
promoting muscle building. The demand for cocoa powder in various food
applications has been increasing since the last few years. Demand for
packaged premium quality cocoa powder based products such as cookies,
chocolates, chocolate coated fruits, and caramelised chocolates for
occasions such as New Year, Christmas, birthdays, and weddings is
increasing rapidly. This is another major factor expected to boost the
growth of the cocoa powder sub-segment of the global cocoa market over
the projected period.
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Revenue
contribution from the Western Europe cocoa market to the global cocoa
market is likely to remain comparatively high throughout the forecast
period
The
cocoa market in Western Europe was anticipated to represent a
relatively high value share of almost 35% by 2016 end, and is expected
to remain the dominant regional market over the forecast period. An
increasing demand for cocoa in the conventional sub-segment in Western
Europe is expected to fuel growth of the cocoa market in this region.
The Western Europe market is projected to gain 233 BPS by 2026 end over
2016. The cocoa market in North America is likely to witness substantial
growth in terms of value throughout the forecast period. North America
followed Western Europe closely in terms of market share in 2016, with a
projected value share of over 20%. The North America cocoa market is
anticipated to gain 23 BPS by 2026 end over 2016. In terms of CAGR, the
Western Europe cocoa market is estimated to register the highest value
CAGR of 4.1% with North America standing at the second position with
3.5% value CAGR.
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Swiss chocolate manufacturer The Barry Callebaut Group opens first ever cocoa powder based beverage products academy
Switzerland
based chocolate manufacturer The Barry Callebaut Group opened its first
cocoa powder based beverage products academy in 2016 Van Houten
Beverage, Sweden to enter into this business segment. In 2016, U.S based
Cargrill Incorporated introduced cocoa powder with intense dark red
colour in its product offerings in Indonesia for application in
chocolate ice-creams, drinks, and desserts. Another U.S. based
manufacturer, Carlyle Cocoa has acquired speciality in manufacturing six
different cocoa powder varieties differentiated on the basis of pH
range, while the rest of the ingredients remain the same.
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