Organic Cocoa Market Intelligence Report Offers Growth Prospects
Organic Cocoa Market Segmentation:
On the basis of product type the organic cocoa market is segmented into cocoa powder, cocoa paste, cocoa butter, cocoa beans and others (products containing cocoa). Products containing cocoa holds the highest market share in terms of value followed by cocoa beans and cocoa butter.
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On the basis of application organic cocoa market is segmented into confectionaries, bakery, functional food, health drinks, home cooking use and others (pharmaceuticals, ointments, and toiletries). Organic cocoa is majorly used in food industry as a main ingredient of chocolate.
Geographically, Organic cocoa market is segmented into North America, Latin America, Western Europe, Eastern Europe, and Asia Pacific excluding Japan, Japan and Middle East & Africa (MEA). Latin America is dominating worldwide followed by Middle East and Africa (MEA) in terms of organic cocoa production. Majority of organic cocoa is exported to Western Europe followed by North America. U.K and U.S are the largest manufacturing countries of organic cocoa products in the world, since organic chocolate is more popular in U.K, U.S and Germany and consumers from those countries owe a significant inclination towards organic chocolates irrespective of high pricing of organic products.
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Organic Cocoa Market Dynamics:
Chocolate is the main application of organic cocoa which is the main growth driver of organic cocoa market. Also, the organic cocoa market is expected to be largely driven by the health consciousness among consumers. However, lack of proper supply of organic cocoa restrains the global organic cocoa market which also leads to increase in price of organic cocoa. There is a huge opportunity in the North America and Western Europe and Japan. Asia Pacific excluding Japan is an untapped market which is also a potential market for organic cocoa. This is attributed to increasing inclination of consumers towards organic products, rapid urbanisation, strengthening supply chain for organic cocoa and rising health consciousness among consumers.
Organic Cocoa Market Key Player:
Some of the leading players are Kraft Foods Inc., Cargill Incorporated, Tradin Organic Agriculture B.V., Ciranda, Blommer Chocolate Company, Artisan Confections Company, PASCHA Company, InterNatural Foods LLC and Wilmor Publishing Corp.
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