Cocoa Ingredients Market
Cocoa Ingredients Market Size And Forecast
According to Verified Market Research, Global Cocoa Ingredients Market was valued at USD 9.83 Billion in 2018 and is projected to reach USD 16.96 Billion by 2026, growing at a CAGR of 7.06 % from 2019 to 2026.
Global Cocoa Ingredients Market Outlook
Increasing demand from western Europe and developing economies is driving the growth of the cocoa ingredient market. the chocolate industry is a major consumer of cocoa. The cocoa market is projected to grow, driven primarily by its extensive appeal, popularity and wide use in the food and beverage industry and cosmetic industry. Consumption patterns are also changing positively in emerging economies owing to the rising spending power of consumers. A new trend for cocoa-based cosmetics and an increase in the number of coffee lovers are influencing the growth of the cocoa market. The western manufacturer has rediscovered cocoa as a new ingredient to be used in many skin treatments in a variety of salon and finished products. It has been found that antioxidants contained in the cocoa shell help delay the skin aging signs, boost fat burn and have a psychological stimulating effect.
However, the market is facing a challenge in meeting demand, cocoa trees are aging, as a result, lead to a considerable reduction in yield, and the effect of rising temperatures in cocoa-producing countries which may decline production levels and trigger further deforestation.
Global Cocoa Ingredients Market Competitive Landscape
The Global Cocoa Ingredients Market study report will provide a valuable insight with an emphasis on global market including some of the major players such as Archer Daniels Midland Company, Cocoa Processing Company Ltd., Agostoni Chocolate, Barry Callebaut, Mars Inc., Hershey, United Cocoa, Olam International Ltd., Cargill Incorporated, Cargill, and Niche Cocoa Industry Ltd.
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