Dublin, Dec. 02, 2020 (GLOBE NEWSWIRE) -- The "Cocoa Powder Market - Forecasts from 2020 to 2025" report has been added to ResearchAndMarkets.com's offering.
The cocoa powder market is predicted to soar at a CAGR of 4.59% to reach a market size of US$3,022.869 million in 2025 from US$2,309.289 million in 2019. The cocoa industry is predicted to grow at a significant pace during the forecast period owing to the wide popularity of cocoa powder among the end-user industries at the global level. Its wide use as an important ingredient in the food and beverage industry is further propelling the market demand during the course of the forecast period.
The growing production of cocoa powder is driven by its immense utilization in confectionery syrups and in the manufacturing of chocolates. Additionally, the increasing chocolate consumption along with the consumption of other food products like cocoa butter is further burgeoning the market demand during the forecast period. The market growth is further supported by the use of cocoa powder in foodservice restaurants as an ingredient in many food and beverages. Cocoa powder is being utilized as one of the important ingredients in the bakery industry, further augmenting the market demand over the next five years. The product is used on a large scale for producing baked products like cakes, pastries, cookies, and other sweet dishes.
Apart from the food and beverage industry, cocoa powder is also utilized in cosmetics and personal care products. These include cocoa powder applications in skin care, hair care, bath and body products, and in soap making process. Soaps, facial masks, creams, lotions, shampoos, conditioners, lip balm, and massage oil are some of the products where the cocoa powder is extensively used. Hence, fueling market demand over the next five years.
On the basis of Geography, Europe is projected to hold a significant market share in the global cocoa powder industry during the forecast period. The demand for chocolate along with the perceived health benefits is increasing the demand for cocoa powder in these regions. Additionally, manufacturers in the regions through innovation are continuously working on the product portfolio enhancement by manufacturing chocolates with different exotic flavours. On the other hand, the Asia Pacific region is projected to show high market growth prospects due to high cocoa consumption owing to the increasing disposable income of the end consumers who are willing to pay for premium cocoa products.
The present novel coronavirus pandemic scenario has resulted in lockdowns in Europe and other parts of the world that serve as market for cocoa and chocolates. It is observed that mainstream chocolate consumption is quite stable, but the craft chocolate segment is facing difficulties amid COVID-19. In cocoa producing countries, like the Ivory Coast and Ghana, which produce more than 60% of the world's cocoa, it has been assessed that lockdowns may cause disruptions in the supply chain and this may lead to cocoa shortages. Hence, impacting the production of cocoa products including cocoa powder further leading to a decline in the market growth in 2020.
The increasing consumption of cocoa powder due to its health benefits is further augmenting the market growth in the forecast period.
Key Topics Covered:
2. Research Methodology
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Market Opportunities
4.4. Porters Five Forces Analysis
4.5. Industry Value Chain Analysis
5. Global Cocoa powder Market Analysis, by Type
5.2. Natural Cocoa Powder
5.3. Dutch-Process Cocoa Powder
6. Global Cocoa powder Market Analysis, by Application
7. Global Cocoa powder Market Analysis, by Distribution Channel
8. Global Cocoa powder Market Analysis, by Geography
8.2. North America
8.2.1. North America Cocoa powder Market, By Type
8.2.2. North America Cocoa powder Market, By Application
8.2.3. North America Cocoa powder Market, By Distribution Channel
8.2.4. By Country
126.96.36.199. United States
188.8.131.52.1. By Type
184.108.40.206.2. By Application
220.127.116.11.3. By Distribution Channel
18.104.22.168.1. By Type
22.214.171.124.2. By Application
126.96.36.199.3. By Distribution Channel
188.8.131.52.1. By Type
184.108.40.206.2. By Application
220.127.116.11.3. By Distribution Channel
8.3. South America
8.5. Middle East and Africa
8.6. Asia Pacific
9. Competitive Environment and Analysis
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix
10. Company Profiles
10.1. Cargill, Incorporated
10.2. Barry Callebaut
10.3. The Hershey Company
10.4. Mars, Incorporated
10.5. Cocoa Processing Company Limited
10.6. Olam International
10.7. KANY Corporation
10.8. Indcre S.A.
For more information about this report visit https://www.researchandmarkets.com/r/6fg1vx
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