The Global Cocoa and Chocolates Market is likely to grow at a healthy rate in the forecast period, with impetus from recently discovered health benefits and increasing use of healthy ingredients for manufacturing. According to a report published by Fortune Business Insights, titled “Cocoa & Chocolate Market Size, Share and Global Trend By Product Type (Cocoa Butter Cocoa Liquor, Cocoa Powder, Dark Chocolate, White Chocolate, Milk Chocolate, Filled Chocolate), Application (Food and Beverage, Cosmetics, Pharmaceuticals), Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Clinics, Online Channel, Public Channel & NGOs) and Geography Forecast till 2025,” the market was valued at US$ 43.13 Bn in 2017. Fortune Business Insights has predicted that the global cocoa and chocolate market will grow at a rate of 5.7% and will be valued at US$ 67.22 Bn by 2025.
Harvard Study Claims Chocolate May Reduce Risk of Heart Disease
In 2017, a study at Harvard suggested that if consumed in the right amount, dark chocolate may aid in reducing heart diseases. The researchers have claimed that consumption dark chocolate in monitored amount may reduce the risk of atrial fibrillation which is a heart condition that is related to stroke, failure, and other diseases. “Encouraged by recent studies, manufacturers have acted quickly to recognize the ingredients and compounds in dark chocolate that contribute to such health benefits,” said a lead analyst at Fortune Business Insights Therefore, there is a growing emphasis on research and development of cocoa and chocolate by numerous manufacturers. Subsequently, this study has caught the eye of many investors, which in turn has led to numerous merger and acquisitions among companies within the global market. The global cocoa and chocolate market is likely to benefit from these factors.
Cadbury Introduces Low-Calorie Chocolate Bar, Dairy Milk sales to Break the Roof
In July 2018, Cadbury announced the launch of a low-calorie chocolate bar, where-in it claimed that the new Dairy Milk will contain 30% less sugar but the taste is likely to remain the same. With more people now adopting to healthy lifestyle and diet, the demand this chocolate bar is likely to sky-rocket in the coming years. Being ranked third in the list of leading chocolate manufactures in 2016, Cadbury’s sales growth is likely to have a positive impact on the global cocoa and chocolate market.
Recent Innovations in Cocoa Products May Reverse the Decreasing Demand for Chocolate
Increasing health awareness has led to a slight decrease in demand for cocoa and chocolate products. Numerous research findings in recent years have indicated that chocolate can be more than just a comfort food. Researchers are discovering various health benefits of chocolate and cocoa products. Although these studies and implications have caused a stir in the healthcare as well as the food industry, scientists have quickly acted on these concerns, by conducting a host of clinical and food trials. In addition to health benefits, incorporating new flavors within the healthy chocolate has been an increasing trend. The advent of flavored-healthy chocolates has led to a substantial increase in demand for cocoa and chocolate products. The aforementioned factors are likely to enable growth of the global cocoa and chocolate market in the forecast period.
Currently, there are numerous chocolate brands and manufacturers, operating on their patented ingredients. Some of the leading companies that are operating in the global cocoa and chocolate market are Barry Callebaut AG, Cargill, Inc., Olam International, Fuji Oil Company Ltd. (Blommer), ECOM Agroindustrial Corporation Ltd., Cocoa Processing Company Limited, Touton S.A, Niche Cocoa Industry Ltd., BD Associates Ghana Ltd. and PLOT Enterprise Ghana Ltd.
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