Cocoa Ingredients Market Research Report: Information by Product Type (Cocoa Butter, Cocoa Liquor, and Cocoa Powder), Category (Organic and Conventional), Application (Bakery & Confectionery, Dairy & Frozen Desserts, Beverages, Sweet & Savory Snacks, Dips, Sauces, & Dressings, and Others), and Region (North America, Europe, Asia-Pacific, and the Rest of the World) —Forecast till 2028 By MRFR
New York,US, June 01, 2022 (GLOBE NEWSWIRE) -- Cocoa Ingredients Market Overview:
Market Research Future (MRFR) 's report highlights "Cocoa Ingredients Market Information By Product Type, Category, Application, and Region - Forecast till 2028", the market will touch USD 19,737.5 million by 2028, a 4.45% CAGR.
Cocoa components are cocoa bean compounds that are widely used for various reasons. Cocoa constituents include cocoa powder, cocoa liquor, and cocoa butter. Cocoa components are classified into two types: conventional and organic. Cocoa components are most commonly found in chocolates as a key cocoa-based candy ingredient. Cocoa is the primary ingredient in chocolate, and the amount used varies depending on whether the chocolate is white, milk, or dark, with the latter having the most.
Criollo, Forastero, and Trinitario are the three main varieties of cocoa beans. It comes in cocoa paste, cocoa shells, cocoa beans, cocoa butter, cocoa fat & oil, and cocoa powder, all of which are free of added sugar and other chemicals. Confectionery, dairy, bread, drinks, pharmaceuticals, and personal care products all use it. The expansion of the chocolate components market will also be influenced by numerous features connected with chocolate, such as its high content of antioxidants, minerals, soluble fibers, and bioactive compounds. Manufacturers' innovation adoption will boost market expansion, such as natural sweeteners and distinct cocoa beans.
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2028 Market Size
USD 19,737.5 Million
4.45 % (2020–2028)
Value (USD Million)
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
By Product Type, Category, Application, Region
North America, Europe, Asia-Pacific, and Rest of the World (RoW)
Key Market Drivers
Potential Demand of Chocolates from Various Industries
Market Competitive Landscape:
The illustrious companies in the cocoa ingredients market are:
The Hershey Company (US)
SunOpta Inc. (US)
Ferrero SPA (Luxembourg)
Archer Daniels Midland Company (US)
Barry Callebaut (Switzerland)
Olam International Ltd. (Singapore)
Nestlé S.A. (Switzerland)
Mondelēz International Inc (US)
Chocoladefabriken Lindt & Sprüngli AG (Zürich)
Puratos Group (Belgium)
Market USP Covered:
The requirement for chocolates used in baking and confectionery applications is skyrocketing. Chocolates are expected to be fueled by rising disposable income backed by emerging economies in countries. As a result, the global cocoa ingredients market is likely to be driven by exponentially increasing chocolate sales. Furthermore, the rising popularity of chocolate as a gift, the growing desire for healthy components in chocolate products, and innovative packaging all contribute to market expansion. Due to rising demand for health and wellness products and a preference for organic products, market players see many development prospects.
Chocolate manufacturers have been pushed to put nutritional elements in chocolates in addition to the conventional cocoa as the major ingredient due to rising customer demand for fat-free and healthy foods. Trans-fat-containing foods are losing market share to low-calorie, low-fat alternatives since trans-fat has been related to cardiovascular disease. Customers have recently grown more health concerned, and many have abandoned chocolate in favor of better choices. These healthy alternatives have grown faster than the confectionery business during the last decade. They've also started to move to luxury or indulgent brands, which typically contain less cocoa than popular options.
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Increasing consumer health knowledge is a key problem for cocoa component producers worldwide. The cocoa bean is the most important raw material for making cocoa components. The price of cocoa influences the cost of manufacturing and pricing. Cocoa bean prices are erratic since the output is heavily influenced by weather, and most growers are confined to a few world areas. Furthermore, multiple cocoa suppliers are on the market, adding to the volatility and influencing chocolate production. However, rising obesity rates and other health concerns are slowing market expansion.
COVID 19 Analysis
The rapid spread of the COVID-19 pandemic has triggered a global emergency. Cocoa beans are used to make cocoa components. Cocoa beans are the most important component in the production of cocoa components. Cocoa compounds such as cocoa butter, cocoa powder, and cocoa liquor are produced in factory settings. Due to the pandemic's impediments to cross-border commodity transit, cocoa component producers have grown reliant on local raw materials suppliers, strengthening suppliers' negotiating power.
The spread of COVID-19 and the subsequent implementation of lockdown techniques in several nations limited the availability of employees to complete the manufacturing process. Furthermore, the lockdowns hampered the transportation industry's supply of critical raw materials. As a result, the scarcity of human resources and essential raw materials affected cocoa component output worldwide.
By Product Type
During the projection period, the cocoa liquid category is predicted to grow at 4.68 percent.
The organic segment is expected to grow at a faster rate of 5.0 percent during the forecast period.
The bakery and confectionery segment held a greater market share and is predicted to grow at a CAGR of 4.45% over the forecast period.
Europe is the nation's biggest chocolate producer. These huge confectionery enterprises mostly drive the consumption of cocoa components in Europe. Additionally, an increased customer market for organic ingredients in food for flavor enhances cocoa ingredient sales. Furthermore, Europe is one of the most important markets for beauty and personal care production, contributing to the expansion of the cocoa ingredients market in Europe.
In Asia-Pacific, increasing the usage of cocoa in snack foods and beverages drives the market growth. Indonesia is also a major contributor to the region's increase in cocoa components. Many cocoa businesses have large plantations in Indonesia, including Olam, Musim Mas, and Barry Callebaut. Prominent companies take several steps to drive market growth. Due to increased consumer demand, several end-use firms are releasing chocolate-flavored products. Also supporting the development of the cocoa ingredients market in the region are greater retail distribution, rising disposable income, and the increasing availability of foreign brands in emerging countries.
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