Global Cocoa Powder Market: Overview
Cocoa powder refers to a mixture remaining after extraction of cocoa butter from cacao beans. This powder is considered one of the important components in syrup, chocolate confectionaries, and in chocolates. Growing preference for better texture, color, and flavor is expected to drive the use of cocoa powder in the form of a coloring agent. This factor is expected to foster growth of the global cocoa powder market over the timeframe of analysis, from 2020 to 2030. Cocoa powder comes with several minerals and flavonoids. There has been a large scale adoption of new manufacturing process of cocoa powder because the amount of flavonoids is dependent on the processing. However, products of cocoa powder might come with cadmium, which is quite toxic and is expected to restrict growth of the global cocoa powder market over the timeframe of analysis, from 2020 to 2030.
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Cocoa is a tropical crop and it is considered one of the profitable cash crops. Cocoa is known in the form of powders or beans in the global market. The increasing presence of cocoa powder in the foodservice operations and dietary lifestyle is anticipated to foster development of the global cocoa powder market in the years to come.
Type, distribution channel, application, and region are important factors in the market that has been considered for the classification of the global cocoa powder market.
Global Cocoa Powder Market: Notable Developments
In the last few years, there have been quite a few pertinent and promising developments in the global cocoa powder market. One such development is as follows
- In February 2019, Subsidiary of Cargill Inc. and a leading producer of cocoa powder, Gerkens, introduced CT70, a new formula with new aroma expectation and taste. This new formula is meant for use by consumer bakery sector.
Some of the prominent companies in the global cocoa powder market are mentioned below:
- Cargill, Inc.
- Cocoa Processing Company
- Swiss Chalet Fine Foods LLC
- The Hershey Company
- Nestlé S.A.
- Barry Callebaut
Global Cocoa Powder Market: Key Trends
The global cocoa powder market comes with the prevalence of the following hurdles, lucrative opportunities, and growth-promoting elements.
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Multiple Health Benefits of Cocoa Powder to Foster Growth of the Market
There has been increasing use of cocoa powder in the pharmaceutical industry, which is expected to widen scope of growth of the global cocoa powder market. Cocoa powder has many minerals advantageous to the human body. Phosphorous, potassium, sodium, zinc, calcium, copper, and magnesium are found in cocoa powder. This product is considered good for heart as it assists in the prevention of stroke, lowering of bad cholesterol, and blood pressure. These benefits are expected to support expansion of the global cocoa powder market over the tenure of assessment, from 2020 to 2030.
Cocoa powder often acts as an anti-depressant because it has compounds that assist in increasing the levels of serotonin and endorphin, which betters the mood. However, outbreak of Covid-19 has left a substantial impact on the global cocoa powder market. The pandemic has caused disruptions in the global supply chains and shortage of demand, which is expected to hamper growth of the market in the next few months to come.
Global Cocoa Powder Market: Geographical Analysis
Europe is expected to present promising growth opportunities to the participants of the global cocoa powder market in the near future. There has been augmented demand for chocolates for direct consumption or is used in various bakery and confectionery preparations, which is likely to drive the growth of the regional market in the near future.
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