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| Report Code: A08729 | Nov 2023 | Pages: NA | ||
| Tables: NA | Charts: NA |
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Cocoa Beans Market
Request Now !Cocoa beans are well-known valuable cash crop of the South American region. Cocoa beans are used for centuries in a wide range of applications,and have gained high demand in the market. These beans exhibit several health benefits and other beneficial properties. Thus, high demand has been reported for cocoa beans, as they are used on a large scale in the food & beverage, confectionery, and cosmeticindustries.
Cocoa beans are available in different varieties in the market, including Criollo cocoa beans, Forastero cocoa beans, and Trinitario cocoa beans. Among these, Criollo cocoa beans experience high demand in the global market due to their high quality. In addition, Criollo cocoa beans are more expensive than the other two varieties of cocoa beans. Furthermore, many other cocoa products can be extracted from cocoa beans, including cocoa butter, cocoa liquor, and cocoa powder. The major consumer of cocoa beans is the ever-growing chocolate industry. Thus, expansion of the chocolate industry is anticipated to propel the growth of the global cocoa beans market at a rapid pace during the forecast period.
High demand for cocoa beans from the chocolate industry booststhe market for cocoa beans, globally. Along with this, surge in demand for chocolate-based products is driving the growth of the global cocoa beans market. Presently, consumers have become more health-conscious and are inclining towardproducts providing health benefits, which, in turn,augments the sale of the cocoa beans. This is attributed to the fact that cocoa beans help in improving blood flow, lowering blood pressure, and reducing risks of cardiac attack. In addition, the presence of minerals, vitamins, potassium, iron, and copper helps in supporting cardiovascular health and transporting oxygen throughout the body. Thus, all these factors significantly contribute toward the growth of the global cocoa beans market.
However, weakening proper supply network and the fluctuating prices of the cocoa beans hamperthe market growth. Along with this, lack of farm management skills and less penetration of modern farming techniques in a few regions restrictthe market growth for cocoa beans. Moreover, various pests and crop diseases massively affect the production of cocoa beans, which declinesthe production of cocoa beans, thus acting as a major challenge for the growth of the overall market.
On the contrary, improvement in farming techniques, aggressive advertisement, brand recognition, and increase in investment in R&D to find out new uses of the cocoa beans are anticipated to offer remunerative opportunities for the growth of this market, globally.Â
The chocolate industry is witnessing a new trend in skin therapy. Medical professionals and experts duly recommend the benefits of the chocolate-based treatment on the skin. This trend garnered high revenue from the cocoa beans market.
The vast production of cocoa beans is done in emerging economies and by small farmers, which lacks infrastructure and modern farming technology, thereby impacting the cocoa beans production. To regard this concern, the government is taking various initiatives that educate the farmers about modern farming techniques and farming management skills. For instance, the Indonesian Government, in the year 2009, launched a program, which boosted their cocoa beans production to 600,000 tons annually. Moreover, in 2015, they invested $100 million in distributing new cocoa seeds among the Indonesian farmers.
Key benefits of the report
Questions answered in the global cocoa beans market research report:
Cocoa Beans Market Report Highlights
| Aspects | Details |
|---|---|
| By Cocoa Bean Type |
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| By Product Type |
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| By Application |
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| By Distribution Channel |
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| By Region |
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| Key Market Players | Blommer Chocolate Company, Olam Group, Cemoi, The Barry Callebaut Group, The Mexican Arabica Bean Company, InterNatural Foods LLC, Meridian Cacao Company, Cargill, Inc., Cocoa Supply Company, Meiji Holdings Company, United Cocoa Processor, Jindal Cocoa, Costa Esmeraldas Cacao Co., Puratos Group |
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