Global Cocoa Products Market: Overview
Globally, the demand for coconut and products made from coconut has increased significantly due to its high health benefits. Coconut is highly nutritious and the minerals present are involved in many functions in one’s body. Moreover, high presence of manganese in coconut, which is necessary for bone health and the metabolism of proteins, carbohydrates, and cholesterol has made it extremely important. Rising demand for coconut beans has further augmented demand in the global cocoa products market.
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With the growing demand for coconut and its widening use in cooking different types of dishes, it is important to have clear knowledge about how lucrative this market can get in the coming years. To reveal this information, market research companies are making significant efforts to by analyzing all the major factors influencing growth in the global cocoa products market. Besides, the information retails government policies, trade restriction, and growth avenues in different geographies are also thoroughly discussed in the report. Key strategies used by players, their shareholding, and recent investments are also presented in the report.
Global Cocoa Products Market: Notable Developments
Recent developments seen in the global cocoa products market are open new opportunities in market and for the stakeholders operating in this market. Some of the recent developments taken place that had a positive impact on the global cocoa products market include:
- Switzerland-based Barry Callebaut introduced a new chocolate variant in 2017 under the brand name, Ruby Chocolate. This new product is majorly introduced for millennials, to meet the growing demand and to meet their desire for hedonistic indulgence.
- Blommer Chocolate Company, U.S., publicized its plan in 2016 to acquire only certified cocoa from 2020 onwards. This step was taken to stand by to cocoa industry standards.
- The Hershey Company announced plans in 2015 related to source certified and sustainable cocoa for four of its chocolate brands, in which cocoa is used as a major ingredient.
Other companies in the global cocoa products market are also making significant efforts and investing in different organic and inorganic business development strategies. To name a few prominent companies operating in the global cocoa products market include Guan Chong Berhad (GCB), Ciranda, Tradin Organic, Cargill, Puratos Group, Touton S.A, The Hershey Company, and United Cocoa Processor.
Global Cocoa Products Market: Drivers and Restraints
Significant rise is seen in the global cocoa products market is majorly because of its rising application in food & beverages, confectionery, pharmaceutical, and cosmetics. Besides, its use as a key ingredient in making different variety of products, growing awareness about the health benefits of cocoa is significantly boosted demand in this market. Use of cocoa helps in decreasing hypertension, protection against sunburn, and reduced chronic fatigue syndrome. Additionally, cocoa is rich in polyphenols that support in protecting the body’s tissues against oxidative stress and associated pathologies such as inflammation and cancer. But few restricting factors might hamper the growth of the market such as limited production and volatile prices of the cocoa. If these point are covered well, the global cocoa products market is expected to witness high growth in the coming years.
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Global Cocoa Products Market: Regional Outlook
Geographically, Europe is projected to lead the global cocoa products market during the forecast tenure. In this region, retail infrastructure has remained steady, which has made growth of this product highly profitable. Additionally, growing consumption of cocoa in manufacturing consumer goods and beverages benefited the growth in this market. Increased spending of people along with high preference for cocoa has also made the region a key market for cocoa products.
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