Cocoa powder is a mixture that remains after cocoa butter is extracted from cacao beans. Cocoa powder is one of the key ingredients in chocolate, chocolate confections and syrup. Increasing preference for better flavor, color and texture is also driving demand for cocoa powder as a coloring agent. Cocoa powder is also rich in flavonoids and several minerals. New process of manufacturing cocoa powder is being adopted on a large scale as the amount of flavonoids depends on the processing. Also, cocoa powder products may contains cadmium which is a toxic heavy metal, hence, European Union is planning to impose limit for cadmium in cocoa powder of 0.6 µg per gram of cocoa powder.
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Meanwhile, the government in the U.S. has not set any limit on cadmium in food products, however, State of California has introduced maximum allowable daily level. Research also suggests that cocoa containing highest flavanol content contribute to skin, cognitive, and cardiovascular health. As per the latest report compiled by Fact.MR, the global cocoa powder market is likely to witness a CAGR of nearly 2.2% in terms of volume till 2026. The market is projected to surpass 1,315 ‘000 tonnes by the end of 2026.
Double-Dutch Cocoa Segment Accounts for 26% Volume Share
The report offers detailed analysis and insights on the basis of product type. The key segments covered on the basis of product type include black cocoa, Double-Dutch Cocoa blend, triple cocoa blend, Bensdorp Dutch-Process Cocoa, Cocoa Rouge, and Natural Cocoa. Among these, Double-Dutch cocoa powder segment currently accounts for nearly 26% volume share of the market. This segment is likely to expand at a CAGR of 3% in terms of volume through 2026, and reach nearly 367 ‘000 tonnes.
Demand for Cocoa Powder Significant in Beverage Industry
On the basis of end-use industry, the key segments include chocolate & confectionary, beverages, bakery, functional food, cosmetics, and pharmaceuticals. Among these, beverages segment accounts for nearly 17.3% volume share of the market, and is likely to grow at a CAGR of 1.2% in terms of volume during the assessment period. The demand for cocoa powder from the beverages sector is likely to remain steady during the assessment period.
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Speciality Stores Account for 22% Volume Share
The distribution channel segmentation analysis includes modern trade, speciality stores, convenience stores, traditional grocery stores, online stores, and other distribution channels. Sales through distribution channel remain significant, and this segment currently accounts for 22% volume share of the market.
The report also profiles companies that are expected to remain active in the expansion of global cocoa powder market through 2026, which include Hershey’s, Ghirardelli, Nestle, Mars, Inc., Cocoa Processing Company, Olam International, Cargill, Inc., Barry Callebaut, Swiss Chalet Fine Foods, Touton, and Dutch Cocoa.
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Cocoa Powder Market Targets Contribution by Major Players during the Forecast Period 2017-2026
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