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. 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.
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.
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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Growth of the global cocoa powder market is mainly bound by various macro-economic and micro-economic factors. Consumption of chocolate products and related food products such as cocoa butter, paste and powder continues to simmer as an important ingredient for production of baked products, sweet dishes and beverages. As it is rich in minerals and vitamins, manufacturers are increasingly witnessing demand for cocoa powder for the production of soaps and cosmetic products. Attributed to various health benefits, demand for cocoa powder is expected to remain high for production of scrubs, ointments, creams, facial masks, face toner and lotions. In addition, increasing production of personal care products such as bath bomb products, lip balms and massage oils is further expected to derive demand for the cocoa powder in the food and beverage, and cosmetic industry significantly.
As consumption of the chocolate products benefits cardiovascular health, sales of cocoa powder will continue to remain high among the leading food and beverage companies. Increasing consumption of cocoa helps the customers to lower the risks of blood clots, LDL cholesterol level and high blood pressure. Moreover, demand for food products with high cocoa powder content is expected to remain high as it boosts the cognitive performance and increase the blood flow in the arteries.
However, various factors will continue to impact growth of the global cocoa powder marker negatively during the forecast period. Consumption of food products with high cocoa content has led to increasing instances of insomnia. In addition, the caffeine-sensitive customers avoid consuming food products with high cocoa content. These factors are expected to inhibit demand for cocoa powder in the food and beverage industry significantly.
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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