Cocoa Powder Market Estimated to Grow at 2.2% Volume CAGR through 2026
Published : 03 Jan 2018 Industry: Food & Beverage
Increasing production of confectionery syrup and chocolates will continue to drive demand of cocoa powder globally. As increasing consumption of the cocoa powder benefits the cardiovascular health, demand for cocoa powder for the production of various food products is expected to remain high. However, concerns about the side effects of consuming cocoa can lead to a decline in sales during the forecast period. According to the report, food & beverage will continue to be a leading segment in the global cocoa powder market. Fact.MR states that the global cocoa powder market is expected to reflect a CAGR of 2.2% in terms of volume during the assessment period 2017-2026.
Demand for Cocoa Powder Continues to be Driven by Increasing Consumption of Chocolate
Growth of the global cocoa powder market is mainly bound by various macro-economic and micro-economic factors. Consumption of chocolate products and related food products such as cocoa butter, paste and powder continues to simmer as an important ingredient for production of baked products, sweet dishes and beverages. As it is rich in minerals and vitamins, manufacturers are increasingly witnessing demand for cocoa powder for the production of soaps and cosmetic products. Attributed to various health benefits, demand for cocoa powder is expected to remain high for production of scrubs, ointments, creams, facial masks, face toner and lotions. In addition, increasing production of personal care products such as bath bomb products, lip balms and massage oils is further expected to derive demand for the cocoa powder in the food and beverage, and cosmetic industry significantly.
As consumption of the chocolate products benefits cardiovascular health, sales of cocoa powder will continue to remain high among the leading food and beverage companies. Increasing consumption of cocoa helps the customers to lower the risks of blood clots, LDL cholesterol level and high blood pressure. Moreover, demand for food products with high cocoa powder content is expected to remain high as it boosts the cognitive performance and increase the blood flow in the arteries.
However, various factors will continue to impact growth of the global cocoa powder marker negatively during the forecast period. Consumption of food products with high cocoa content has led to increasing instances of insomnia. In addition, the caffeine-sensitive customers avoid consuming food products with high cocoa content. These factors are expected to inhibit demand for cocoa powder in the food and beverage industry significantly.
The report offers detailed insights and analysis on the market, and has segmented the market on the basis of product type, end-use industry, cocoa variety, and distribution channel. The detailed segment-wise analysis offers readers information on the lucrative and sluggish avenues in the global cocoa powder market. On the basis of product type, double-dutch cocoa is currently a lucrative segment in the market, whereas speciality stores remain one of the formidable distribution channels globally.
Major players in the global market of cocoa powder are Hershey's, Ghirardelli, Nestle, Mars, Inc., Cocoa Processing Company, Olam International, Cargill, Inc., Barry Callebaut, Swiss Chalet Fine Foods, Touton, and Dutch Cocoa.