According to the recent report by IMARC Group, titled “Cocoa Processing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025”, the global cocoa processing market size reached around US$ 15.31 Billion in 2019. A cocoa bean is obtained from the cocoa tree, also known as Theobroma cacao. Cocoa processing refers to the method of obtaining cocoa powder, butter, and liquor from cocoa beans. As they are rich in magnesium, cocoa-based products aid in catalyzing protein synthesis and energy production. Moreover, cocoa also contains copper, which aids in brain development, iron transport, and glucose metabolism. Due to these factors, these products are also considered as superfoods with the ability to uplift mood and boost mental performance.
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Global Cocoa Processing Market Trends:
Cocoa remains an indispensable raw material in the chocolate, food, and beverage industries. Cocoa beans are rich in flavonoids, such as theobromine and proanthocyanidins, which are well-known for their anti-aging, antioxidant, and anti-inflammatory properties. They also help in reducing the risk of cardiovascular diseases like heart failure, arrhythmia, and cardiomyopathy. Due to these factors, there has been a rise in the demand for cocoa-based products, like energy bars, among health-conscious consumers. Apart from this, cocoa also finds applications in non-food industries like the personal care industry. Cocoa butter is one of the preferred ingredients in over-the-counter skin products like soap bars, lotions, creams, and lip balms, as it helps in moisturizing the skin. Moreover, cocoa products are used as flavoring agents and coatings on medicines and supplements in the pharmaceutical industry. On account of these factors, the market is expected to experience stable growth during the forecast period (2020-2025).
- On the basis of the bean type, forastero accounts for the majority of the market share. Other bean types are trinitario and criollo.
- Based on the product type, the market has been categorized into cocoa liquor, cocoa powder, and cocoa butter. Currently, cocoa liquor represents the most popular product type.
- On the basis of the application, confectionary represents the biggest application segment in the market. Other segments include pharmaceuticals, beverages, bakery, and others.
- Region-wise, the market has been classified into Asia Pacific, North America, Latin America, Middle East and Africa, and Europe. At present, Europe exhibits a clear dominance in the market.
- The competitive landscape of the market has been analyzed in the report, with some of the key players being Guan Chong Bhd., Ecom Agroindustrial Corp. Limited, Cocoa Touton Processing Company Limited, Transmar Group, Nestlé SA, Barry Callebaut Group, Cargill Incorporated, Olam International, Blommer Chocolate Company, and Mondelez International, Inc.
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