The Cocoa Powder Market size is forecast to reach USD 3.06 Billion from USD 2.54 Billion in 2019, delivering a CAGR of 2.3% through 2027, according to a new report by Reports and Data. Growing awareness regarding the health benefits of cocoa, along with increasing product application in cosmetics and the FB industry, is poised to drive industry growth through 2027.
Cocoa powder comprises several minerals, including magnesium, calcium, copper, zinc, sodium, phosphorous, potassium, and several other vital vitamins that are beneficial for the human body—the consumption of the product aids in lowering bad cholesterol, blood pressure, and preventing stroke. Cocoa powder is also considered an antidepressant as it contains compounds that boost serotonin and endorphin levels. It also contains a high amount of antioxidants that may combat cancer in some cases. Additionally, the consumption of cocoa powder strengthens the immune system and offers the potential to combat conditions like dementia.
A significant rise in the adoption of sustainable cocoa cultivation due to surging product demand from the food beverage sector is likely to supplement the cocoa powder market share. Increasing preferences for cocoa enriched foods has compelled manufacturers of food and beverages to increase the uptake of cocoa powder than ever before.
According to the International Cocoa Organization, the prices of cocoa powder in January 2020 had a 20% year-on-year increase. A rise in the disposable income of masses, particularly in emerging economies like India and China, along with growing awareness regarding the health benefits of the product, will foster cocoa powder revenue share through 2027.
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Competitive Landscape:
The research report offers details about leading companies in the global Cocoa Powder market along with global position, financial standing, license agreement, products and services portfolio and revenue contribution of each market player. Key players in the market are focusing on adopting various strategies such as mergers and acquisition, business expansion plans, new product launches, partnerships, collaborations, joint ventures to enhance their product base and gain robust footing in the market.
Market Dynamics:
Increasing consumer inclination towards functional, organic and probiotic-based food drinks is providing impetus to the growth of global food and beverage industry. Various studies have come with health benefits associated with “ethnic” and organic food products. These foods improve cardiovascular health, improves arthritis, digestive issues, and other inflammatory conditions. Consumers are gradually focusing on mindful eating and consuming food for health and wellness. Changing eating and dietary patterns of consumers is prompting brand owners and new entrants to introduce healthy foods options. Several clean-label products have been introduced in the market and consumer curiosity for new products is immense
Growing middle class consumers with rising income in developing countries such as India and China will boost food beverage market growth. Moreover, increasing consumer preference for procuring food and beverage items from online platforms due to variety, cost and time-saving will foster market size through 2028.
Some of the Leading Market Players Are Listed Below:
- Cargill Incorporated,
- Nestle,
- Barry Callebaut,
- Jindal Cocoa,
- Carlyle Cocoa,
- Ghirardelli,
- Mars Incorporated,
- Puratos Group,
- Swiss Chalet Fine Products,
- Cocoa Processing Company
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Market Segmentation:
Cocoa Powder Market Segmentation based on Type Outlook:
- Natural Cocoa Powder
- Dutch Process Cocoa Powder
- Others
Cocoa Powder Market Segmentation based on Distribution Channel Outlook:
- Online
- Offline
Cocoa Powder Market Segmentation based on Application Outlook:
- Chocolate Confectionery
- Bakery
- Beverage
- Functional Food
- Pharmaceutical
- Cosmetics
Cocoa Powder Market Segmentation based on Regions:
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., France, Italy, Spain, Benelux, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
- Latin America (Brazil, Rest of Latin America)
- Middle East Africa (Saudi Arabia, UAE, South Africa, Rest of Middle East Africa)
Key Features of the global Cocoa Powder Market:
- The report offers detailed estimations at the regional level with manufacturers, consumption, sales and import/export dynamics.
- The report provides accurate details related of the manufacturers/vendors in the market, company overview, pricing analysis, financial standing, product portfolio, and gross profit of leading companies.
- Company profiling with prevalent expansion strategies, revenue generation, and recent developments.
- Optimum strategic initiatives for new players in the market.
- Manufacturing processes, suppliers, cost, rates of production and consumption, transport mode and cost structuring, and value chain analysis.
- The study also includes supply chain trends, including elaborate descriptions of the latest technological development
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