Global Cocoa Products Market: Overview
Globally, the demand for coconut and coconut products has increased dramatically due to its health benefits. Coconut is very nutritious and the minerals present are involved in many functions of the body. Additionally, the 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. The growing demand for coconut beans has further increased the demand in the world market for cocoa products.
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With the growing demand for coconuts and its increasing use in cooking different types of dishes, it is important to be clear about just how lucrative this market can become in the years to come. To reveal this information, market research companies make significant efforts in analyzing all major factors influencing the growth of the global cocoa products market. In addition, the information on government policies, trade restrictions and growth avenues in different geographies is also discussed in depth in the report. The key strategies used by the players, their shareholding and recent investments are also presented in the report.
Global cocoa products market: notable developments
Recent developments observed in the global cocoa products market are opening up new opportunities in the market and for stakeholders operating in this market. Some of the recent developments which have positively impacted the global cocoa products market include:
- Barry Callebaut, based in Switzerland, introduced a new variant of chocolate in 2017 under the brand name Ruby Chocolate. This new product is mainly introduced for millennials, to meet growing demand and fulfill their desire for hedonistic indulgence.
- Blommer Chocolate Company in the United States made known its plan in 2016 to acquire only certified cocoa from 2020. This action was taken to comply with cocoa industry standards.
- The Hershey Company announced in 2015 plans to source certified and sustainable cocoa for four of its chocolate brands, in which cocoa is used as a major ingredient.
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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 just a few leading companies operating in the global cocoa products market include Guan Chong Berhad (GCB), Ciranda, Tradin Organic, Cargill, Puratos Group, Touton SA, The Hershey Company and United Cocoa Processor.
Global cocoa products market: drivers and constraints
A significant increase is observed in the global cocoa products market, mainly due to its increasing application in food and drink, confectionery, pharmaceuticals and cosmetics. In addition, its use as a key ingredient in the manufacture of different varieties of products, the growing awareness of the health benefits of cocoa has drastically boosted the demand in this market. The use of cocoa helps lower hypertension, protect against sunburn and reduce chronic fatigue syndrome. Additionally, cocoa is rich in polyphenols which help protect body tissues against oxidative stress and associated pathologies such as inflammation and cancer. But few restrictive factors could hamper market growth, such as limited production and volatile cocoa prices. If these points are well covered, the global cocoa products market is expected to experience strong growth in the coming years.
Global cocoa products market: regional outlook
Geographically, Europe is expected to dominate the global cocoa products market during the forecast period. In this region, the retail infrastructure has remained stable, which has made the growth of this product very profitable. In addition, the growth in cocoa consumption in the manufacturing of consumer goods and beverages has benefited the growth of this market. Increasing spending by the population along with the strong preference for cocoa has also made the region a key market for cocoa products.
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