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What's Driving Cocoa Market Trends? Key Company Profiled In Archer Daniels Midland, Blommer Chocolate Company, Barry Callebaut, Cargill Inc., Cocoa Processing Company, Mars Incorporated, Carlyle Cocoa, The Hershey Company, Puratos Group, Lindt & Sprungli,

cocoa

cocoa

Cocoa beans are dried, fully fermented, and processed to extract cocoa butter, cocoa liquor, and cocoa powder. Forastero, trinitario, and criollo are the three main varieties of cocoa plant, of which Forastero beans are most widely consumed and comprises around 85% of the world production of cocoa.

Growing demand for chocolate and chocolate coatings are major factors propelling growth of the market. Moreover, abundant application of cocoa products such as cocoa butter, liquor, and powder is contributing to growth of the market. Cocoa is extensively used in various products, including drinking chocolate, dark chocolate, sweet chocolate, baking chocolate, and milk chocolate. Cocoa offers several health benefits as it contains high flavonoids concentration that help in reducing cardiovascular problems.

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Europe held a dominant position, in terms of revenue, in the global cocoa market and is expected to maintain its dominance over the forecast period, witnessing highest CAGR among all. According to the Center for the Promotion of Imports (CBI), Ministry of Foreign Affairs, in 2016, Europe accounted for more than half of global cocoa bean imports, with Germany, the Netherlands and Belgium being the largest importers in the region. Furthermore, the Netherlands is the major direct importer of cocoa beans from emerging economies such as Ivory Coast, Ghana, Cameroon, Nigeria, and Peru.

Based on applications, the cocoa market is segmented into bakery items, beverages, confectionary, cosmetics, functional foods, and pharmaceutical. Among applications, confectionary segment held a dominant position in the market in 2016, and is expected to maintain its dominance over the forecast period, witnessing highest CAGR among all. Cocoa is largely been used in confectionary application, as a colorant and flavor ingredient.

Based on process, the market is segmented into dutch and natural process. Dutch process segment held a dominant position in the cocoa market in 2016. It is a type of cocoa that have been washed in the alkaline solution of potassium carbonate, in order to neutralize its acidity. The process also confer a darker color to cocoa powder.

Major players operating in the global cocoa market include Archer Daniels Midland, Blommer Chocolate Company, Barry Callebaut, Cargill Inc., Cocoa Processing Company, Mars Incorporated, Carlyle Cocoa, The Hershey Company, Puratos Group, Lindt & Sprungli, and United Cocoa Processor Inc.

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Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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