Globally, the demand for cocoa ingredients has been increasing from the food and beverages industries. Market Research Future, a firm which specializes in market reports related to the Food, Beverages & Nutrition sector among others, recently forecasted in its report on Global Cocoa Ingredients Market Research Report- Forecast to 2024 that the market will demonstrate an exceptional CAGR during the forecast period.
Recently, production of cocoa in Ghana has declined which will impact on overall cocoa exports to create huge supply and demand gap globally. According to the International Cocoa Organization, the 2016-17 surplus amounted to 371,000 tons, more than making up for the 174,000-tonne output shortfall the previous season. Higher demand and lower supply will increase the prices in the coming period. However, cocoa stocks are still relatively high, making rising price escaping unlikely.
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Expansion will help in capturing the major market and increasing the production capacity to meet the rising demand from consumer’s end thereby further contributing to increasing revenue.
The key players profiled in the global Cocoa Ingredients Market are Archer Daniels Midland Company (U.S.), Cargill Inc. (U.S.), Barry Callebaut (Switzerland), BLOMMER Chocolate (U.S.), Cocoa Processing Company Ltd (Ghana), Mars Inc. (U.S.), AGOSTONI chocolate (U.S.), and Olam International Limited (Singapore) among many others.
The global cocoa ingredients market has been divided into type, application, and region.
On The Basis Of Application: Bakery & Confectionery, Dairy products, Beverages, and Others.
On The Basis Of Region: North America, Europe, Asia Pacific, and ROW.
In Africa region, the Ivory Coast is the leading cocoa supplier across the globe. Key players like Nestle and Cadbury collect much of their cocoa from the Ivory Coast and Cocoa alone is responsible for almost two-thirds of the trade revenue coming into the nation. In upcoming years, cocoa production in Ivory Coast will fall as recently, serious concerns have been raised about cocoa production here due to increasing concern over child laborers, physical abuse and excessive working hours.
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