Against this backdrop, the sales of Cocoa Liquor Market via online stores and eCommerce platforms is expected to surge. Despite the spread of COVID-19, the rising online demand will enable the market to exhibit a stable rate of growth at a CAGR of 3.2% between 2021 and 2031.
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.
Scope of Report
|Historical Data Available for||2016-2020|
|Market Analysis||USD Million for Value|
|Key Countries Covered||US, Canada, Germany, U.K., France, Italy, Spain, Russia, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Australia, New Zealand, GCC Countries, Turkey, Northern Africa, and South Africa|
|Key Segments Covered||Product Type, Cocoa Variety, Form, Application, and Region|
|Key Companies Profiled||Cargill Inc.The Archer Daniels Midland CompanyUnited Cocoa Processor, Inc.Blommer Chocolate CompanyNestlé S.AValrhonaBarry CallebautCemoiJBCOCOAIndia CocoaCharley’sOthers|
|Report Coverage||Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives|
|Customization & Pricing||Available upon Request|
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. The study divulges compelling insights on the cocoa liquor market based on product type (dutch and natural), cocoa variety (forastero, criollo, trinitario, and other cocoa varieties), form (wafers, blocks, chips, and liquid), and application (chocolate and confectionery, ice cream, food and beverage coatings, beverages, bakery, and other applications) across seven major regions.