Global Cocoa Market Growth to thrive on its Numerous Health Benefits

Inkwood Research projects that the Global Cocoa Market is evaluated to register a CAGR of 3.94% in terms of revenue during the forecasting years of 2021-2028.

"Browse 58 Market Data Tables and 49 Figures spread over 165 Pages, along with an in-depth TOC on the Global Cocoa Market Forecast 2020-2028."

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Cocoa is the essential ingredient in chocolate confections and chocolates. It is a major cash crop used for chocolate manufacturing. Also, it is highly concentrated with 1000 calories per kilogram, providing minerals, proteins, fats, and carbohydrates. Chocolate, cocoa powder, cocoa butter, and cocoa liquor, are the four intermediate cocoa products.

Cocoa's Health Benefits is a Key Growth Driver

There is an increasing inclination towards healthy lifestyles, fitness, and health globally. Consequently, consumers are on the lookout for products that will benefit them health-wise or supplement their healthy lifestyle, i.e., foods with less fat and sugar. In general, mainstream chocolates are associated with heart disease and obesity fears. In this regard, dark chocolates are considered healthy. Also, many luxury chocolate brands offer several types of dark chocolate.

Further, there is an increasing demand for chocolates with high cocoa content. This is because cocoa offers several health benefits. These include lowering the risks of heart attack and stroke and reducing high blood pressure. Also, it is evaluated to have more antioxidants than green tea, red wine, and black tea. In addition, cocoa powder can effectively improve glucose metabolism and insulin resistance to regulate blood sugar levels. Moreover, cocoa extracts can be used for their wound-healing properties and therapeutics.

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Specialty is the Most Prominent Quality

Specialty or premium cocoa constitutes less than 10% of the total cocoa market. It is not traded as a commodity. Its farming entails extra attention in harvesting and growing the cocoa trees to reduce quality defects in the beans. Also, the process strives for the identity of individual lots originating from specific varieties or geographies. In comparison to bulk cocoa, specialty cocoa's supply chain encompasses high quality, precise traceability, harvest & post-harvest techniques, and genetics.

Europe set to dominate the Global Market

The region is a diverse market for cocoa, with buyers sourcing cocoa beans from different origins. Also, of different qualities to cater to the varied demands of the chocolate and cocoa industries. In addition, the region is one of the huge consumers of cocoa products. Moreover, the specialty market is registering significant growth. Furthermore, chocolates are being increasingly consumed in the region, with surging demand for higher cocoa content in chocolates.

The market has several industry leaders with similar product offerings. At the same time, new product lines are being launched. Also, with partially differentiated products, the industry rivalry is high. Cargill Incorporated, Barry Callebaut AG, Olam International Limited, Puratos Group, etc., are among the important companies in the market.

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