Cocoa or cocoa bean is a fully fermented and dried seed of Theobroma Cacao. The cocoa butter and cocoa solids are extracted from Cocoa seed. Organi ccocoa is a bit more acidic and bitter in comparison with normal-cocoa.
There has been an increase in the demand for organic cocoa products, due to which, meeting the demand for cocoa has become a significant challenge for the global cocoa market. The highest demand for cocoa is in the U.S., UK, and Germany. Therefore, cocoa is supplied to these regions on a large scale for manufacturing cocoa products. In terms of production, the Dominican Republic dominates the cocoa market, with almost 70% market share. While Peru, Ecuador, and Mexico together hold a 20% share in the cocoa production. And the remaining 10% of the total share in the cocoa production is held by Brazil, Bolivia, Ghana, and others.
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Organic cocoa has its applications in many sectors, including food & beverages, pharmaceuticals, and personal care sector. Premium chocolate brands demand for organic-cocoa on a large scale. It is useful for personal care, especially for maintaining healthy skin. It contains various nutrients like fiber, vitamins, minerals (iron, magnesium, and copper), and antioxidants. The presence of anti-enzymatic and antibacterial properties in cocoa is good for oral health. Organic cocoa also helps in lowering blood pressure and maintaining the blood flow in the body.
COVID-19 Scenario Analysis:
The organic cocoa products market is expected to survive the effects of COVID-19, to some extent.
Chocolate is the major product manufactured from organic cocoa, which does not come under the essential item but is still being purchased by the consumers.
The prevailing lockdown has kept people away from purchasing seasonal and high-end products, due to which, the organic cocoa product sales during Easter showed unsatisfactory results.
The supply chain disruption in cocoa-producing countries will lead to a major cocoa shortage and is a concern for organic cocoa manufacturers.
Also,travel cocoa confectionery sales, which were growing rapidly over the past few years, are on halt due to the travel bans and global quarantines.
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Top Impacting Factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
Chocolate manufacturing is the most significant application of cocoa that drives the global cocoa market. The demand for chocolate and its related products like milk chocolate, sweet chocolate, dark chocolate, and others coupled with aggressive advertisement and brand recognition drives the global market for organic cocoa. The consumer of today's world has become more health-conscious and is thereby inclining toward natural, organic, and nutritious food habits. Due to the high nutritional benefits from the consumption of organic cocoa, the consumer is shifting towardproducts made from organic cocoa, in turn, increasing the sales of the global cocoa market. Rapid urbanization, increase in disposable income, and awareness related to the health benefits of the organic products fuel the growth of the global market for this product.
However, the absence of a proper network for the supply of the cocoa restrains the growth of the global organic cocoa market. Also, fluctuating prices of the organic cocoa hamper the market growth for this product.
On the contrary, improvement in the farming techniques to manufacture cocoa will increase the supply for organic cocoa and create lucrative opportunities for growth in the future. Along with this, the demand for labeled food & beverages is on a rise, which is anticipated to propel the market growth for organic cocoa.
Key Benefits of the Report:
This study presents the analytical depiction of the global organic cocoa industry along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global organic cocoa market share.
The current market is quantitatively analyzed from 2020 to 2027 to highlight the global organic cocoa market growth scenario.
Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
The report provides a detailed global organic cocoa market analysis based on competitive intensity and how the competition will take shape in coming years.
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