New report estimates growth in the cocoa powder market
The increasing production of confectionery syrup and chocolates will continue to drive demand in the global cocoa powder market.
A new report (Cocoa Powder Market by Fact.MR) has stated that the global cocoa powder market is expected to reflect a CAGR of 2.2% in terms of volume during the assessment period 2017-2026.
This growth is partially due to the increasing consumption of cocoa powder benefitting cardiovascular health. This has ensured the demand for cocoa powder for the production of various food products is expected to remain high. However, concerns about the side effects of consuming cocoa can lead to a decline in sales during the forecast period.
According to the report, food and beverage will continue to be a leading segment in the global cocoa powder market.
Growth of the global cocoa powder market is mainly bound by various macro-economic and micro-economic factors. Consumption of chocolate products and related food products continues to simmer as an important ingredient for production of baked products, sweet dishes and beverages.
As it is rich in minerals and vitamins, manufacturers are increasingly witnessing demand for cocoa powder for the production of soaps and cosmetic products. Attributed to various health benefits, demand for cocoa powder is expected to remain high for the production of scrubs, ointments, creams, facial masks, face toner and lotions. In addition, increasing production of personal care products is further expected to derive demand for the cocoa powder in the food and beverage, and cosmetic industry significantly.
As the consumption of chocolate products benefits cardiovascular health, sales of cocoa powder will continue to remain high among the leading food and beverage companies. Increasing consumption of cocoa helps consumers to lower the risks of blood clots, LDL cholesterol level and high blood pressure. Moreover, demand for food products with high cocoa powder content is expected to remain high as it boosts cognitive performance and increases blood flow in the arteries.
However, various factors will continue to impact growth of the global cocoa powder marker negatively during the forecast period. Consumption of food products with high cocoa content has led to increasing instances of insomnia. In addition, caffeine-sensitive customers avoid consuming food products with high cocoa content.
On the basis of product type, double-dutch cocoa is currently a lucrative segment in the market, whereas speciality stores remain one of the formidable distribution channels globally.