Cocoa Solids Market Outlook
According to a new report by Expert Market Research titled, “Cocoa Solids Market Size, Share, Analysis, Report and Forecast 2023-2028″, is projected to grow at a CAGR of 4.70% between 2023 and 2028. Aided by the rising demand for chocolate and cocoa-based products and the expanding applications of cocoa solids in numerous sectors, the market is expected to grow significantly by 2028.
Cocoa solids are derived from cocoa beans and are commonly used as a critical ingredient in various products, including chocolate, cocoa powder, beverages, and bakery items. They are essential for improving flavour, supplying nutritional advantages, and raising the allure of food products. In addition to being used in food, cocoa solids have strong antioxidant qualities and are recognised to support cardiovascular health.
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The escalating consumer preference for cocoa-rich food products is driving the global cocoa solids market growth. Demand for items made with cocoa solids has increased as a result of the significant shift towards diets high in cocoa due to growing awareness of the health advantages of cocoa consumption. Additionally, a big factor in the rise in popularity of cocoa solids is the fact that everyone loves chocolate and everything with cocoa flavours.
The broadening applications of cocoa solids in various industries also play a significant role in accelerating the cocoa solids market development. In the food sector, cocoa solids are a vital flavouring and colouring ingredient used in a variety of products like cakes, cookies, and drinks. Due to their moisturising qualities and high antioxidant content, cocoa solids are used by the cosmetics industry to create a variety of skincare products.
Moreover, the mounting demand for cocoa-based alternatives in the food and beverage industry has resulted in an increased emphasis on cocoa solids as a viable ingredient for plant-based and vegan products. With the upsurge in veganism and the growing popularity of plant-based diets, cocoa solids have emerged as a vital component in the formulation of vegan-friendly chocolates, drinks, and other alternatives, thereby promoting the cocoa solids market expansion.
Additionally, research and development activities in the food industry leading to innovative uses and applications of cocoa solids further support the cocoa solids market growth. For instance, cocoa solids are now being increasingly used in the pharmaceutical industry for their potential health benefits.
Cocoa Solids Market Segmentation
The market can be divided based on nature, end-use industry, and region.
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Market Breakup by Nature
- Organic
- Conventional
Market Breakup by End-Use Industry
- Food and Beverages
- Cosmetics and Personal Care
- Pharmaceutical
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global cocoa solids companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- Cargill Incorporated
- United Cocoa Processor, Inc.
- Guan Chong Berhad (GCB)
- Keliffs Nutrients Pvt Ltd
- Olam International Limited
- Others
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