Increasing production of confectionery syrup and chocolates will continue to drive demand of cocoa powder globally, according to the analysts from Future Market Insights. It is expected to reflect a CAGR of 2.2% in terms of volume during the assessment period 2017-2026.
As increasing consumption of the cocoa powder benefits the cardiovascular health, demand for cocoa powder for the production of various food products is expected to remain high.
As challenges, concerns about the side effects of consuming cocoa can lead to a decline in sales during the forecast period.
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 such as cocoa butter, paste and powder continues to simmer as an important ingredient for production of baked products, sweet dishes and beverages.
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, the caffeine-sensitive customers avoid consuming food products with high cocoa content. These factors are expected to inhibit demand for cocoa powder in the food and beverage industry significantly.
Major players in the global market of cocoa powder are Hershey’s, Ghirardelli, Nestle, Mars, Inc., Cocoa Processing Company, Olam International, Cargill, Inc., Barry Callebaut, Swiss Chalet Fine Foods, Touton, and Dutch Cocoa.