Cocoa Derivatives Market SUMMARY COMPRISES KEY REGIONS, GROWTH, SEGMENTATION TILL 2028

Our most recent market study, "Cocoa Derivatives Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Type and Application," predicts that the market will surpass US$ 37.00 billion in 2028 with an estimated CAGR of 5.2% from 2022 to 2028. The market accounted for roughly US$ 26.00 billion in 2021.

Processing cocoa yields derivatives of cocoa. It takes a lot of labour to grow cocoa. Heavy rainfall and temperatures between 20°C and 32°C are necessary for cocoa plant growth. The equator is the only place where cocoa trees can grow. As a result, only a few nations, including Côte d'Ivoire, Ghana, Ecuador, Indonesia, Nigeria, Cameroon, Brazil, Peru, and the Dominican Republic, can grow cocoa.

Cocoa beans are further processed to obtain the cocoa powder, cocoa butter, cocoa liquor, cocoa nibs, and other products. The rising demand for cocoa derivatives to manufacture various food and beverages, such as bakery, confectionery, chocolate, dairy products, frozen desserts, beverages, and sweet snacks, is driving the cocoa derivatives market. The increasing applications of cocoa derivatives, especially cocoa butter, in personal care products, such as moisturizers, anti-aging creams, and body care products, are also supporting the market.

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In addition, the market is anticipated to grow over the coming years due to the increasing demand for cocoa derivatives in the nutraceuticals industry for masking flavors. However, it is anticipated that the growth of the market will be constrained during the forecast period by fluctuating cocoa prices, limited production, and supply issues.

Based on type, the cocoa powder segment is expected to account for a major share in the cocoa derivatives market by 2028. Cocoa powder is used in a wide range of food and beverages as a flavoring agent. It is widely used in desserts, beverages, and bakery products to add a rich chocolate flavor to these products. Cocoa powder is also used in nutraceuticals, such as protein supplements, vitamins, and mineral supplements, to mask the flavors and increase their palatability.

Sustainability has recently risen to the top of both consumers' and businesses' priorities lists. Businesses are investing a lot of money to grow cocoa in a sustainable manner. For instance, Cargill, Inc. has started a programme called "The Cargill Cocoa Promise" to assist cocoa farmers and growers in increasing their incomes through environmentally friendly cocoa production. Similar to this, to provide sustainable products to their customers, Barry Callebaut, one of the major producers of cocoa derivatives, has invested in sustainable cocoa initiatives including Cocoa Horizons, Fairtrade, and Rainforest Alliance. Over the course of the forecast period, such initiatives by key market participants are anticipated to create lucrative opportunities in the cocoa derivatives market.

Nowadays, consumers are seeking organic, non-GMO, premium, and clean-label products due to increased health consciousness. They are looking for indulgence products that meet their nutritional requirements. There has been a growing demand for all-natural and clean-label products.

Consumers also read labels and search for goods created using ethically sourced materials. Therefore, cocoa derivatives producers are investing in research and development to provide clean, label-friendly, certified-organic, and GMO-free products in order to meet these increasing consumer trends. For example, Olam Group has introduced a line of cocoa powders for professional cooks, bakers, and pastry chefs. In response to a rising demand from chefs and bakers in the industry for high-quality cocoa products, the company introduced this product line. Over the course of the forecast period, these tactics should help the market for cocoa derivatives.

Barry Callebaut; Cargill, Incorporated; United Cocoa Processor; Indcre S.A.; Olam International Limited; Natra; Touton S.A.; JB Foods Limited; Ecuakao Group Ltd; and MONER COCOA, S.A. are key market players profiled in the study. Several other major companies were studied and analyzed in this research study to get a holistic view of the cocoa derivatives market and its ecosystem.

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