The
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.
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