Market-Overview
As per the analysis by Market Research Future (MRFR), the global Organic Cocoa Industry 2020 is expected to acquire the market value of USD 12.36 billion, thriving at a CAGR of 7.38% during the review period from 2019 to 2024.
The anti-bacterial and anti-enzymatic properties of cocoa aid in the production of dental products, which can augment its demand in the pharmaceutical industry and boost the market during the forecast period. The increased demand for cocoa in the cosmetic industry is expected to be another cause that can bolster the market in the coming period. The surging requirement of cocoa in food and beverage for the production of chocolate is predicted to drive the market significantly. In addition, the growing demand for cholesterol-free products is projected to augment the market during the review period.
On the flip side, the advent of COVID-19 is likely to impact the market negatively due to the limitation of harvesting and transportation. However, the cocoa market is expected to achieve stability in the coming period for the lockdown has been uplifted in various countries.
Key Players
The renowned players of the global Organic Cocoa Industry are Cargill Incorporated (U.S.), Kraft Foods Inc. (U.S.), Tradin Organic Agriculture B.V. (Netherlands), Blommer Chocolate Company (U.S.), Ciranda (U.S.), Artisan Confections Company (U.S.), InterNatural Foods LLC (U.S.), PASCHA Company (Canada), Wilmor Publishing Corp. (U.S.), Olam International (Singapore), Barry Callebaut (Switzerland), SunOpta (Canada), Moner Cocoa, S.A. (Spain), Jindal Cocoa (India), and Carlyle Cocoa Co, LLC (U.S.).
Market Segmentation:
The segmental analysis of the global Organic Cocoa Industry is done by application and product type.
The application-based segments of the global Organic Cocoa Industry are pharmaceuticals, food & beverages, and personal care. The food & beverages segment is further segmented into dairy & frozen foods, bakery & confectionery, sweet & savory snacks, sauces & dressings, dips, and others.
The product type-based segments of the global Organic Cocoa Industry are cocoa liquor, cocoa butter, and cocoa powder.
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Regional Analysis
Based on the region, the global market for organic cocoa is segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW).
As per the assessment, North America is anticipated to dominate the global market for organic cocoa owing to the rising number of the population consuming cocoa products. The U.S. is expected to be the primary consumer of organic cocoa in the region. Cocoa is projected to have extensive application in the cosmetics and personal care sector, which can augment the regional market in the coming period.
The APAC region is expected to be the fastest-growing market in the coming period owing to the increased demand for the product in the food and beverage industry. The increasing awareness about the health benefits of cocoa and changing lifestyles is anticipated to strengthen the regional market during the forecast period. The presence of emerging countries like India and China are anticipated to further strengthen the market due to the rising disposable income. Furthermore, the increasing concern towards health is expected to develop the market in the coming period.
Europe is likely to acquire significant market value, expanding at a significant market value in the coming period. The growing concern towards health is expected to drive the regional market during the review period. The demand for cholesterol-free products is anticipated to drive the regional market additionally.
The RoW market is expected to develop at a steady speed owing to the growing demand for personal care products during the forecast period.
NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.