Cocoa Market is the seed of the cocoa tree. This seed used to produce cocoa butter and it contain low fat. Cocoa butter is used to produce chocolate. For chocolate cocoa is used in the powder form. Cocoa is used in beverages as a flavoring ingredient. Cocoa powder is rich in theobromine and phytonutrient, which help to reduce inflammation and can protect you from diseases. Cocoa is low in fat and sugar also contain iron, zinc, and selenium this mineral help to proper body function and boost immune system. Cocoa is contain caffeine and related chemicals. Other than chocolate industry pharmaceutical and cosmetic industries also extensively use cocoa butter. Consumption of large amount of might cause caffeine-related side effect such as nervousness, sleeplessness and a fast heartbeat this side effect hinder the market growth.
Cocoa Market Dynamic
Increased demand for chocolate with health benefits factor driven the cocoa market. Demand increased for chocolate and its related product such as dark chocolate, sweet chocolate various manufacturer enter into market this are key factor to drive cocoa market. The cocoa has gained significant position in the food industry as it provide color, texture, taste and several benefit. Raw cocoa powder used to maintain skin health due to flavanols contain. Rapidly growing demand for organic or sustainable variants of the product, along with higher nutritional content drive the growth of cocoa market. These help to clear and soften, detoxify skin due this properties cocoa butter is extensively used in cosmetic and pharmaceutical industry. The rise in awareness of health benefit regarding consumption of cocoa-rich products drive the growth of cocoa product market.
COVID-19 Impact on Cocoa Market
Covid19, drastically affects the world supply chain and industrial sector growth. At the initial stages of the pandemic, the world experienced, ‘supply shocks’. COVID-19 led to a slowdown in demand for luxury items such as chocolate. As economic activities stopped this directly impacted on cocoa or chocolate consumption. Due to shutdown industry stopped their production process this impact on cocoa demand. The amount of chocolate bought at airports, restaurant that demand gone down too. All the high-end restaurant by cocoa for their menu that also stooped this impacted on price of cocoa.
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Cocoa Market Segmental Overview
The report analyses the cocoa market based on type, application, and geography. Various products of cocoa include cocoa butter, cocoa powder and cocoa liquor.
Cocoa Market by Type
Various types of cocoa include cocoa butter, cocoa powder and cocoa liquor. Cocoa butter segment is likely to hold largest share in the cocoa market. However, Cocoa powder is fastest growing segment. Coco butter is pure, cold-pressed oil of the cocoa beans. Cocoa butter used in food beverage, cosmetic and pharmaceuticals industry. Cocoa butter is rich in natural plant compounds called phytochemicals. These substances improve blood flow to skin and skin aging by protecting against damage from the sun’s harmful UV rays. Because of chemical composition, cocoa powder influences the nutritional value and shelf life of the food stuff. Cocoa powder have a strong impact on the texture of product. Cocoa powder is used in the confectionery industry as a flavoring and coloring agent.
Cocoa Market by Application
The market finds application into cosmetic, pharmaceutical, food beverage and confectionery. Confectionery segment is hold largest share in the cocoa market. Cocoa is used in confectionery as a flavor ingredient and a colorant. Cocoa it is primary product of the chocolate manufacturing process. Increased affinity among consumer for packaged food and confectioneries. Increased snaking habit among consumer boost the confectionery segment. Cosmetic industry is fastest growing in cocoa market. Due to various skin benefit provided by the coca increased demand in the cosmetic industry.
Cocoa Market Key Players
Some of the major player operating in the market include, The Barry Callebaut Group, The Hershey Company, Nestle S.A, Cargill Incorporated, Puratos Group, Cemoi, Mars, Incorporated, Blommer Chocolate Company, Meiji Holdings Company, Ltd., Carlyle Cocoa, Olam International, Cocoa Processing Compant Ltd.
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