Cocoa Market: Demand for Premium and Innovative Products on the Rise

cocoaThe trend of premium and indulgent desserts is creating new avenues for players in the global market for cocoa, finds a study by Transparency Market Research (TMR). The report, titled “Cocoa Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2013–2019,” observes that consumers of cocoa are choosing healthier snacks over confectionaries, which in turn is prompting market players to come up with innovative products and gain a stronger position in the market.

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This TMR report is aimed at providing a cutting edge to existing and new players in the global cocoa market by offering an in-depth analysis of all the factors that are expected to influence the market in the near future. The report projects a healthy CAGR for the global cocoa market during the forecast period of 2013 to 2019.

Cocoa is a fatty bean of theobroma cacao, which is dried and processed to extract the powder, cocoa butter, cocoa liqueur, cocoa oil, and other solids. The high flavonoid concentration in cocoa makes it highly usable for various purposes. The report observes that although cocoa has been used since centuries, innovative products have resulted in the expansion of the market in recent times.

The global market for cocoa is traditionally driven by the expanding demand for chocolate and chocolate coatings across diverse populations. However, the report finds that products such as milk chocolate, drinking chocolate, and dark chocolate are gaining popularity among consumers. The widespread use of cocoa is expected to function as a growth inducer in the market. Conversely, escalating health concerns regarding the high sugar-content in cocoa products is expected to negatively impact the global market during the forecast period.

The report finds that the use of certification schemes for sustainability in the cocoa industry is inspiring confidence among the consumers. As a result, several manufacturers are investing in sustainable production methods.

The report observes that Asia Pacific is emerging as the most prominent market for cocoa due to the increasing popularity of chocolate products and a vast population. North America forms the second most significant market for cocoa. Although Western Europe is expected to showcase weak progress in the coming years, it is likely to sustain the demand. Dominican Republic, Peru, Mexico, Ecuador, Brazil, and Cameroon are some of the prominent cocoa producing countries.

Latest business plans adopted by key players, their product offerings, and market positioning have been identified in this TMR research report. Some of the leading names highlighted in the global cocoa market report are Cargill Cocoa & Chocolate, Kraft Foods Inc., Wilbur Chocolate Company Inc., Belcolade NV, Guan Chong Cocoa Manufacturer Sdn. Bhd., Ferrero S.P.A., Organic Commodity Products Inc., Petra Foods Limited, Dutch Cocoa B.V., Blommer Chocolate Company, Archer Daniels Midland Company, and Delfi Cocoa.