About Global Cocoa Powder
Cocoa powder is the final product after fermentation, roasting, and pressing of cacao beans to extract most of the cocoa butter. All flavors, but part of the fat, cocoa powder is essentially a concentrated form of cocoa beans, with a strong bitter taste. Cocoa powder is widely used for making confectionery, flavoring beverages, toppings in different foods, and filings in bakeries. Cocoa is also used as a flavoring and coloring agent in the cosmetic, health care, pharmaceutical, and nutraceutical industries. The widespread and increasing application of cocoa in various industries is one of the factors propelling the global cocoa market during the forecast period.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Cocoa powder is a fragmented market due to the presence of a large number of established competitors. Key players focus on innovating and developing new strategies to maintain their market position and customer base. The company is also planning strategic activities such as partnerships, collaborations, mergers, and acquisitions that help it maintain its position in the market and maintain its competitive edge. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Cadbury (United Kingdom), Hershey’s (United States), Sorich Organics (India), Barry Callebaut AG (Switzerland), Cargill (United States), Olam International Limited (Singapore), Blommer Chocolate Company (United States), Mondelez International, Inc. (United States), Guan Chong Berhad (Malaysia), ECOM Cocoa (Switzerland), Nestlé SA (Switzerland) and BT Cocoa (Indonesia) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Nuru (Africa), Nutri Desire (India), HealthyHive (United States) and Nature Vit (Canada).
Segmentation Overview
AMA Research has segmented the market of Globally Global Cocoa Powder market by Type (Dutch Process, Natural Cocoa Powder, Rouge or Red Cocoa Powder and Black Cocoa Powder), Application (Confectionery, Bakery, Food & Beverages, Cosmetics and Others) and Region.
On the basis of geography, the market of Global Cocoa Powder has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by End Users, the sub-segment i.e. Commercial will boost the Global Cocoa Powder market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Distribution Channel, the sub-segment i.e. Online will boost the Global Cocoa Powder market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Generations, the sub-segment i.e. Generation X will boost the Global Cocoa Powder market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing Trend towards Organic Cocoa Production
Market Growth Drivers:
Growing Demand for Chocolates and High Usage of Cocoa Powder in Food Service Restaurants as an Ingredient in Varieties of Foods and Beverages
Challenges:
Staggering Demand from Millennials for High Quality Chocolates
Restraints:
Climate Change and Poor Farm Management Affect the Production of Cocoa Powder
Opportunities:
Improving Knowledge of Healthcare Well-Being Offering Lucrative Growth., Rising Food and Supplements Industry and Growing Preference for Clean-Label Products
Market Leaders and their expansionary development strategies
In June 2021, US chocolate maker The Hershey Co. announced the completion of the acquisition of Lily's, a low-sugar, health confectionery manufacturer. Lily's adds this high-growth, leading BFY brand to Hershey's growing portfolio of healthy snack brands and partners with a talented and innovative team,” said Chuck Raup, President. Hershey Americas, at Release. “Lily's popular low-sugar products fit very strategically into our diversified Better Snacks strategy and will perfectly complement our existing iconic Hershey's BFY products.
In January 2023, Mondelez India, India's premier snack maker, and baker unveiled a delicious and decadent Chocobakes Chocochip Cookie infused with the iconic Cadbury flavor. After the successful launch of Cadbury Chocobakes Choc-filled Cookies and Choc Layered Cakes, the new launch is another effort to solidify the company's growing position in the bakery sector by introducing a carefully curated take on traditional chocolate chip cookies.
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.