Market Research Future (MRFR) studied the global organic cocoa 2021 for the assessment period till 2023. According to MRFR assessment, the global organic cocoa industry trends is likely to surge at a healthy CAGR to acquire around 585 Mn by 2023.
Drivers and Restrains Impacting Organic cocoa industry trends
The increasing demand for premium grade chocolate and growing popularity of chocolate beverages are top-notch causes that can support the organic cocoa industry trends in the years to come. The availability of different food variants of which the demand has increased dramatically in the recent years can add momentum to the organic cocoa industry trends in the forthcoming years. Modern consumers, especially millennials, display high sentiment towards organic ingredients that can support the surge of the organic cocoa industry trends. The increasing demand for premium grade chocolate products can have a positive influence on sales of organic chocolate, which, in turn can support the market rise. The rise in consumption of functional food prepared form organic cocoa as the main ingredient are encouraging food brands to introduce innovations as organic variants. Thus, can favor the expansion of organic cocoa industry trends.
Blommer chocolate company (U.S.), Conacado Agroindustrial S.A.(Dominican Republic), BT Cocoa (Indonesia), Tradin Organic Agriculture B.V. (U.S.), Mars Inc. (U.S.) Olam Limited (Uganda), and Barry Callebaut AG (Switzerland) are some reputed companies in the global organic cocoa industry trends that are some well-established companies in the cocoa market that are listed by MRFR.
Market Research Future in its research report provides a detailed segmental evaluation of the worldwide organic cocoa industry trends that are based on region and application. The application-based segments of the market of organic cocoa are functional food and beverages, bakery and confectionery, pharmaceuticals, and personal care products among others. The segment of bakery and confectionery is accounted for the highest share of the worldwide market over the assessment period. The utility of organic chocolate in bakery and confectionary products has increased over the years as the demand among consumer surge. As consumers are becoming more health conscious, brands are focusing their attention towards chemical-free healthy, organic cocoa. The segment of bakery and confectionery currently holds over one-third of the entire market share and is likely to exhibit a decent growth pace by 2023. The functional food and beverage segment can secure the second spot and is anticipated to remain highly profitable by 2023 and beyond.
The region-based segments of the organic cocoa industry trends are Americas, Africa, Europe, Middle East Asia and Africa, and the rest of the world (RoW). The organic cocoa industry trends for in the Americas is likely to remain a highly lucrative region over the next couple of years. The increased level of health awareness among the people of Americans and rise in demand for organic food products can support the market growth. Regions in North America, such as; the U.S. and Canada are identified as top contributors to the regional market and are expected to remain at the forefront position as top investment destination for several market players. By 2022, the market in the North America region is likely to earn valuation of about USD 400 Mn that can reflect a strong growth. In the Africa region, the market of organic cocoa is expected to remain an important region in the organic cocoa industry trends. Over next four years, the market of Africa organic cocoa industry trends is likely to witness an impressive rise in the years to come. Africa has gained the reputation of the major supplier of cocoa that puts it in a strong position in the worldwide organic cocoa industry trends. Europe organic cocoa industry trends can thrive owing to the presence of large population base and disruptive technology-assisted chocolate product production equipment to the meet the increasing demand.
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