About Cocoa Products
Cocoa products are made from cleaned, dried, cured, and cracked cacao beans. Cocoa is a rich source of polyphenols that provide numerous health benefits such as control blood sugar level, blood pressure, cholesterol, and others. The cocoa products market has high growth prospects owing to increasing application in the pharmaceutical and confectionary industry. In addition, rising demand for the chocolate products and increasing demand from the developing economies expected to drive the demand for cocoa products over the forecasted periods.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Leading global players are focusing on strategic partnerships to improve their products and services. In addition, companies are focusing on increasing their client base to strengthen market position and to enhance product & service offerings. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Cocoa Products market throughout the forecasted period. 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.
Cargill (United States), Ciranda (United States), FUJI OIL CO. LTD. (Japan), Guan Chong Berhad (Malaysia), Puratos Group (Belgium), The Hershey Company (United States), Touton S.A (France), Tradin Organic (Netherland) and United Cocoa Processor (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Kraft Foods Inc. (United States), Petra Foods Limited (Singapore), Belcolade NV (Belgium) and Dutch Cocoa B.V (Netherland).
Segmentation Overview
AMA Research has segmented the market of Global Cocoa Products market by Type (Cocoa Powder, Cocoa Paste, Cocoa Butter, Cocoa Beans and Others ), Application (Confectionery, Food & Beverages, Cosmetics and Pharmaceutical) and Region.
On the basis of geography, the market of Cocoa Products 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 Distribution Channel, the sub-segment i.e. Online Retail will boost the Cocoa Products market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Use of Cocoa Products in the Chocolates and Rising Application in the Pharmaceutical Industry
Market Growth Drivers:
Rising Demand of Cocoa Products from the Confectionery Industry and Increasing Awareness about Benefits of Cocoa Products for Cardiovascular Disorders
Challenges:
Lack of Awareness in the Emerging Economies
Restraints:
High Sugar-Content in Cocoa Products and Fluctuating Prizes Of Cocoa Beans
Opportunities:
Increasing Demand of the Chocolate Coatings and Chocolate Products and Rising Demand from the Developing Economies
Market Leaders and their expansionary development strategies
In June 2023, Puratos has acquired Canadian chocolate producer Foley’s Chocolates in what it considers its largest acquisition to date in the chocolate industry. Puratos said the transaction increases its chocolate market share and manufacturing abilities in the United States and continues its growth in the pillars of health and well-being, sustainability and innovation. Puratos also now has the largest chocolate portfolio yet, which consists of plant-based, protein-enhanced, sugar free and sugar-reduced solutions.
In July 2022, Lil’Goodness, the health-focused food and snacking brand, has introduced zero added sugar prebiotic cocoa powder for the first time in India. Made of natural prebiotic fibers and 100 percent antioxidants-rich real cocoa, the gut and heart health-friendly prebiotic cocoa powder will make popular homemade recipes of dark chocolates, chocolate desserts, smoothies, chocolate mousse pudding healthfully delectable for families especially for the kids.
“According to the Food and Drug Administration, The cacao nibs, or the cacao beans from which cocoa products are prepared, are processed by heating with one or more of the optional alkali ingredients such as alkali ingredients which includes ammonium, potassium, or sodium bicarbonate, carbonate, or hydroxide, or magnesium carbonate or oxide and neutralizing agents which includes phosphoric acid, citric acid, and l -tartaric acid.”
Key Target Audience
Supplier, Manufacturer, Research Organization, End User Industry, Goverment Regulatory and Others
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.