Cocoa Products Market 2019-2025
Description: –
Cocoa is produced from the Cacao tree, which is usually found in the Amazon forest. However, African nations are producing the bulk of the Cocoa currently. Cocoa products are very popular across all ages. Cocoa products have various health-related benefits as well, which have increased its demand in pharmaceutical sector as well. Growing health awareness has also made a positive impact on the global cocoa products market. Changing lifestyle and food consumption pattern have increased cocoa product consumption among youngsters.
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Scope of the Report: –
The cocoa tree usually takes 3-4 years’ time to yield good quality crop, which is hindering the growth of the market. Rising demand from global consumers is becoming difficult to meet. Various Government and private sectors are taking initiatives to develop production technology. Good quality soil, seed development has helped a lot to boost the production. In addition, its growing popularity among millennials can set the bars high for the market.
Segments:
The global Cocoa Products Market can be segmented based on the product type. Cocoa powder, cocoa paste cocoa butter, and cocoa beans are the main product types that are covered in this segment. Cocoa products are produced by fermenting, roasting, shelling and grounding the Cacao beans. Cocoa powder is very helpful for health as it does not contain cocoa butter, which results in fewer calories and sugar. It is often found in powder form. Cocoa butter contains more calories, sugar, and fat. It has a very rich and consistent texture. The cocoa paste is produced from cacao beans, which becomes liquid when crushed. This liquid cocoa solidifies and becomes cocoa paste. It is used in cooking and bakery products. Cocoa beans are raw form of cocoa and derived directly from cacao tree. It is widely used to produce chocolate.
Cocoa products are segmented into bakery, drinks & beverages, confectionery, and functional foods, based on its application.
Regional Analysis:
South America, Middle East & Africa (MEA), and Asia Pacific Countries (APAC) are known for their high cocoa production and have been no0ted accordingly. Europe and North America are regions known for their high consumption capacity. This is due to better exposure to various types of cocoa and high disposable income.
Cocoa-based products are very popular worldwide. Its demand is growing worldwide. Increasing use in confectionery and bakery items are driving its growth in North America and European market. These two regions are creating demands for country-specific cocoa products as well. Cocoa products from Ghana, Brazil, and other regions are finding special mentions. Cocoa products are used in making ready-to-drink products, like energy drink, health drink, and many others. Growing population and change in food consumption pattern have fueled the growth for Cocoa products consumption in Asia Pacific countries. Cocoa products are also becoming popular in Middle East & African countries. Several restaurant and café chains are introducing cocoa related food items and drinks.
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Industry News:
Ivory Coast and Ghana, two of the major cocoa producers are set to implement new regulations, that will introduce the production ceiling. This step is expected to discourage overproduction of cocoa and cocoa related products, which in turn will help to regulate the price and market. It will also help to stop labor exploitation.
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