Global Cocoa Market: Overview
Cocoa is a fatty bean obtained from Theobroma cocoa, It is driedand fermented after which processed further to extract cocoa powder, cocoa oil,cocoa butter, cocoa liquor and liqueur, and other solids. The demand for cocoais mainly increasing due to its use in chocolate. The three common plants fromwhich cocoa is derived are criollo, trinitario, and forastero. Of these,forastero has emerged as the most sought-after type of cocoa plants as it isknown to produce the best quality of cocoa. Also cocoa products are known tohave high flavonoid concentration, due to which they are known to be beneficialto people with cardiovascular problems.
The report presents a detailed assessment of the growth driversand restraints impacting the global cocoa market. It compilesexhaustive information sourced via proven research methodologies and aimed atproviding a better perspective of the global cocoa market. For the purpose ofthe study, the report segments the market based on various parameters andstudies the factors impacting its trajectory across all these segments. UsingPorter’s five forces it also offers information on the bargaining power ofsuppliers and buyers, threat from new entrants and product substitutes, and thedegree of competition prevailing in the global cocoa market.
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Global Cocoa Market: Drivers andRestraints
The cocoa market is expected to report strong growth over thecourse of the forecast period. The market is largely driven by the increasingdemand for chocolate and chocolate coatings around the world. Some of the mostpopular products where cocoa is found are sweet chocolate, dark chocolate,drinking chocolate, milk chocolate, and baking chocolate. The extensive use ofcocoa is expected to be the chief growth driver of the global cocoa market.However, health concerns related to the high sugar-content in most cocoa-basedproducts are expected to hamper the market’s growth to an extent.
The increasing consumption chocolate confectionary is stronglylinked to the affordability of consumers. Hence, the cocoa market could witnessa more elastic response in countries with lower income. As the disposableincome of the consumers increase in the world’s advanced economies and the percapita income of consumers in emerging nations continue to rise, particularlyin Eastern Europe, Africa, and Asia Pacific, the experts believe thefundamentals of demand for the cocoa market are very encouraging.
Despite negative impact of economic downturn witnessed,especially in developed markets, the demand for cocoa in the food and chocolateconfectionaries market will continue to surpass through the forecast period.Also the newfound application in cosmetic and pharmaceutical industry will keepthe pace of gains for the market high in the near future.
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Global Cocoa Market: Regional Outlook
Regionally, the global cocoa market can be segmented into NorthAmerica, Asia Pacific, Europe, and Rest of the World. Countries such asBelgium, Ghana, Switzerland, and the U.K. have emerged as the global leaders inthe cocoa market. Also, from a global perspective, markets in North America, AsiaPacific, and the Middle East have been exhibiting superior consumption andproduction of cocoa products. The recent trends of using cocoa as a rawmaterial across diverse industries is also expected to give impetus to thecocoa market across the aforementioned regions.
Global Cocoa Market: Vendor Landscape
The market study also profiles companies such as WilburChocolate Company Inc., Kraft Foods Inc., Petra Foods Limited, Belcolade NV,Dutch Cocoa B.V, Cargill Cocoa & Chocolate, Blommer Chocolate Company,Ferrero S.P.A., Guan Chong Cocoa Manufacturer Sdn. Bhd., Organic CommodityProducts Inc., and others. Besides including a detailed assessment of theirproduct portfolio, the report also analyzes the strategies they adopted tostrengthen their market position. Using SWOT analysis, the report presentsinsights into the strengths and weaknesses of the companies profiled. Theanalysis also offers information on the potential threats and opportunitiesthat these companies could face over the course of the forecast period.
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Foodand Beverages Sector
TMR has followed theC19-TREND approach for conducting a comprehensive analysis on the trends andchanges in the food and beverage sector due to the COVID-19 outbreak. Eachfactor is analyzed with scrutiny. These points have been compiled in the reportand will assure great assistance to the stakeholders and CXOs in developingsound business strategies.
