Cocoa Market Register CAGR of 3.3% between 2017 and 2022 to reach value US$ 40,206.9 Mn

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Fact.MR has collated a report on cocoa market forecast, trend analysis & competition tracking: global review 2018 to 2028. According to which the cocoa market is projected to witness impressive growth opportunities in the aftermath of the rising chocolate popularity and growing consumption of cocoa-based products. The new insightful report on the cocoa market sheds light on the influential market dynamics of the cocoa market that can transform the future growth trajectory of the cocoa market. The report includes key market insights that will enable prominent companies and emerging players associated with the processing or grinding of cocoa to identify potential avenues in the market.

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Steady Popularity of Chocolates to Bolster Cocoa Production

The retail shelves of chocolates are witnessing the presence of a wide range of chocolates such as milk chocolates, dark chocolates, drinking chocolate and other beverages. While portraying the ever-growing popularity of chocolates, extensive use of cocoa in the production of chocolates has proved beneficial for the growth of the cocoa market. The consumption trend of chocolate is directly connected to the rising discretionary income which enables consumers to purchase food items including chocolates that were previously categorized as luxury items. In addition, growing demand for chocolates in emerging economies presents lucrative opportunities for the cocoa market in the coming years.

As a Ubiquitous Flavor, Cocoa Market to Gain Ground in the Food and Beverage Industry

Humongous consumption and production of chocolates explain increasing appetite for cocoa, making cocoa the most widely consumed flavor in the food and beverage industry. Owing to the increasing popularity, manufacturing titans in the food and beverage sector are actively using fine or flavored cocoa in a variety of food products and traditional recipes to expand their consumer base. Demand for cocoa liquor has intensified dramatically in the food and beverage industry in the recent past against the backdrop of rising preference for cocoa flavor across the globe. An optimistic outlook for cocoa liquor demand in future is expected to bode well for the cocoa market.

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Cocoa Market to Dip Toes into New Ventures Following “Organic” and “Gluten-free” Consumer Trends

Rising incidences of lifestyle health diseases have prompted consumers to become health conscious and proactive in their purchase of food products. Demand for organic products is gaining traction with consumers seeking to avoid consumption of harmful chemicals. As the diagnosis of gluten sensitivity increases across the globe, gluten-free food products are highly sought after among not only sensitive consumers but health-conscious consumers as well. To aim the consumer base with such a high health consciousness, manufacturers in the cocoa market are focusing on delivering innovative and healthier cocoa products with lesser sugar content and as organic and gluten-free origin. Further, by manufacturing cocoa liquor products with the non-GMO material, the cocoa market is expected to attract health-conscious consumers. Amidst the rising incidences of consumers quitting chocolate consumption, as cocoa manufacturers dip their toes into novel production methods of organic and gluten-free products, cocoa market to witness an impressive growth trajectory during the review period.

Cocoa Market to Witness Challenges in Maintaining Sustainable Growth

Although the popularity of cocoa flavor and ingredients for the preparation of majority of the food and beverage products is persistently rising, the global cocoa industry seeks additional investments to maintain a sustainable growth in the foreseeable future. As manufacturers make additional expenses to receive certification of approval to distribute their cocoa products in the market, prices of cocoa in the global market has witnessed a significant rise. Rising prices of cocoa have added economic uncertainties in the international cocoa market, in turn, creating challenges for the growth of the cocoa market in the coming decade. In addition, dwindling agricultural production conditions in leading cocoa producing regions are threatening the persistent growth of the cocoa production during the estimated future. However, initiatives by major standard bodies to improve quality as well as the quantity of cocoa can be promising for the future growth of the cocoa market.

Competition Landscape

The cocoa market is expected to observe an intense competitive scenario among existing as well as emerging market players. Key market players operating in the cocoa market include Cargill, Inc, Olam International Ltd, Barry Callebaut AG, Guan Chong Cocoa Manufacturers Sdn., Natra SA, Touton SA, BT COCOA, Dutch Cocoa BV, Blommer Chocolate Company, JB Foods, and Cemoi Chocolatier SA. To win over the competition, existing as well as emerging players are leveraging business strategies such as new product launches, collaborations and acquisitions to maintain their position in the global market space.

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