According to Future Market Insights, the value of the cocoa liquor market is anticipated to reach US$ 6,317.37 Mn in 2021. (FMI). The total market value is anticipated to increase at a CAGR of 3.2% from 2021 to 2031, reaching US$ 8,656.3 Mn.
There has been a sharp increase in the demand for chocolate products across North America and Europe. As per Future Market Insights (FMI’s) latest study, consumers will showcase a higher inclination for stockpiling on essential commodities as they prefer staying indoors amidst pandemic outbreaks.
Recently, consumers are showing greater demand for food products that are vegan natural, GMO-free, organic, and offer other clean label claims. Considering this, an increasing number of companies are focusing on a holistic and wellness approach to business.
This trend is taking over the cocoa liquor market as well. Therefore key players in the cocoa liquor market are focussing on adding natural sweeteners, such as coconut sugar and Stevia to position their product in the most demanded category and cater to health-conscious consumers.
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Key Takeaways from the Cocoa Liquor Market Study
- The cocoa liquor market is estimated to be valued US$ 6.3 Bn in 2021
- Europe accounts for a leading share in the global cocoa liquor market in terms of value sales owing to the increasing health conscious population and rising demand for organic and less processed chocolates
- Owing to the increasing application of cocoa liquor in bakery, ice creams, chocolate infused drinks, and other food product, the market is set to surpass US$ 8.6 Bn in 2031.
- Germany will remain a key market in Europe, while the U.S. is expected to retain dominance in North America.
“Cocoa liquor offers many health benefits such as reducing blood pressure, lowering heart attack risk, and improving blood flow, therefore cocoa liquor is highly sought-after among increasing health-conscious population across the world. This will remain a chief growth driver of the market, “says an FMI analyst.
Who is winning in Cocoa Liquor Market ?
Few of the market players operating in the cocoa liquor market are Archer Daniels Midland Company, Cargill Inc., United Cocoa Processor, Inc., Niche Cocoa Industry Ltd., Blommer Chocolate Company, JBCOCOA, The Hershey Company, The Ghirardelli Chocolate Company, Nestlé S.A., Valrhona, Mars, Inc., Cocoa Processing Company, Barry Callebaut, and others.
Manufacturers are regularly offering consumers innovative products. Innovations in cocoa liquor are intended to meet the evolving consumer demand for healthier confectioneries without compromising on the taste, flavour, texture, and nutritional qualities of the product.
- In 2020, Barry Callebaut launched innovative dairy-free chocolate called ruby chocolate. For the production of this product the company will open new factory in Germany to produce thousands of tons of products.
- In 2019, Cargil Inc., announced the acquisition of leading chocolate supplier Smet based in Belgium to expand its distribution network. This acquisition will help company to grow stronger in food service segment and confectionery market.
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Scope of Report
Get Valuable Insights into Cocoa Liquor Market
Future Market Insights, in its new offering, provides an unbiased analysis of the global cocoa liquor market, presenting historical demand data (2015-2019) and forecast statistics for the period from 2020-2030.
Cocoa Liquor Market by Category
By Product Type:
- Dutch
- Natural
By Cocoa Variety:
- Forastero
- Criollo
- Trinitario
- Other Cocoa Varieties
By Form:
- Wafers
- Blocks
- Chips
- Liquid
By Application:
- Chocolate and Confectionery
- Ice Cream
- Food and Beverage Coatings
- Beverages
- Bakery
- Other Applications
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- MEA
The report covers exhaustive analysis on:
- What is the cocoa liquor market value?
- What is the cocoa liquor market demand outlook?
- What are the key trends shaping the cocoa liquor market?
- At what rate did the demand for cocoa liquor rise in the last five years?
- Who are the top players in the cocoa liquor market and what is their market share?
- What is the North America cocoa liquor market outlook?
- At what rate will the demand for cocoa liquor increase in Europe?
- What is the South Korea and Japan market outlook for sales of cocoa liquor?
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About FMI
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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