Market - - Jun 05,2017
As per statistics, the cocoa liquor sub-segment is recording a CAGR of 4.3% in terms of value during the forecast period 2016 to 2026.
Cocoa powder is indeed an essential ingredient used for preparing a variety of dark chocolates, which is increasingly gaining popularity across the globe. Thus, this fact is driving the growth of cocoa (cocoa powder) on the international scale.
Presently, the cocoa market is also assisted due to the strong need for premium products for chocolate, brownies, cosmetic products, and liquors. As per a research study published by Market Research Reports Search Engine (MRRSE), the cocoa liquor sub-segment is expected to become the most attractive sub-segment under the global cocoa market during the period until 2026. Moreover, a CAGR of 4.3% in terms of value would be registered to make the growth appear more appealing.
Another factor creating hearty development in the cocoa powder sub-segment is the cumulative inclination of young consumers towards chocolate. Since the past it has been analyzed that, the primary consumers of chocolate are indeed children, however, as per the current scenario, chocolate is gaining popularity amongst young adults as well. This shift towards chocolate is due to its health benefits, which is stressed upon its properties to lower cholesterol.
Further, the swelling need for packaged premium quality cocoa powder based products like cookies, chocolate coated fruits, and caramelized chocolates is another booster for the overall cocoa sector. These products are in significant demand during occasions such as birthdays, New Year, Christmas and weddings.
The active areas concerned with the cocoa market on the global canvas includes regions such as Western Europe, Asia Pacific Excl., Japan (APEJ), North America, Latin America, Middle East and Africa (MEA), Eastern Europe and Japan. Out of these, the Western Europe market is expected to remain dominant until 2026.
For more information on this report visit- http://www.mrrse.com/cocoa-market