Cocoa Bean Extract Market

Cocoa Bean Extract Market Value and Growth:

Cocoa Bean Extract Market was worth US$ 7.6 billion in 2023 and is anticipated to reach a valuation of US$ 9.1 billion by 2028 and is predicted to register a CAGR of 3.2%.

Cocoa Bean Extract Market Overview:

The bitter concoction generated from cocoa beans is known as cocoa bean extract. It's a concentrated cocoa bean extract. Cocoa bean extract is strong in flavanols, procyanidins, and other antioxidants, and it's used to boost the flavours of chocolate-based foods. There are two types of cocoa bean extract: liquid and powder. Without producing a precipitate, cocoa bean extract can be conveniently blended with a range of items, such as chocolates, pastries, and infant food. Cocoa bean extract can be utilized without using emulsifiers, suspension agents, or other additives in a number of industries, including food, drinks, pharmaceuticals, cosmetics, and so on. Therefore, these characteristics of coca beans tend to rise the global cocoa beans market share in the upcoming years.

Cocoa Bean Extract Market Drivers:

• Food and beverage manufacturers are looking for food ingredients that meet consumer needs and help develop innovative products. Consumers are putting the spotlight on health and nutrition food products that are 100 % natural and have a longer life span, so manufacturers and retailers are looking for food ingredients that meet consumer needs and help develop innovative products. 

• Because cocoa bean extract is natural and has a longer life span, it is predicted to grow in popularity in the food and beverage business. As a result of these factors, the global cocoa bean extracts market growth is on the rise during 2022-2027. 

• Scientific evidence on cocoa bean extract's health advantages has boosted its use in the pharmaceutical business. Pharmaceutical companies are concentrating on the creation of capsules, tablets, and other types of cocoa bean extracts that provide healing properties in addition to the typical chocolate flavors.

Cocoa Bean Extract Market Restraints:

Unfavorable climatic conditions, which influence both the quality and production of cocoa beans, are one of the key reasons limiting the cocoa bean extract industry’s size in the next six years. In 2017, unfavorable weather affected Ghana's cocoa harvest. Weather patterns that are unpredictable can affect cocoa bean harvest, elevating the cost price. Price increases in cocoa bean extract are projected to restrict demand from various product makers, limiting the cocoa bean extract market's growth.

REPORT COVERAGE:

Recent Developments in the Global Cocoa Bean Extract Market:

• In May 2018, Prova has introduced a new line of cocoa extracts and tastes. This type of cocoa extract claims to be eight times more powerful than cocoa powder, as well as having a longer shelf life.

• In 2017, Mars, Incorporated, a chocolate and supplement manufacturer, increased the supply of its cocoa extract-based health supplements under the CocoVia brand in the United Kingdom.

Cocoa Bean Extract Market Segmentation: 

By Form:

• Powdered Cocoa Bean Extract

• Liquid Cocoa Bean Extract

Powdered Cocoa Bean Extract dominated in this segment, this global coca bean extract market share came predominantly from the demand from the food and beverages sector as powdered cocoa bean extract is easier to store and transport and it also has a longer shelf life than it counterpart, the liquid cocoa bean extract. Production of powdered cocoa bean extract was also easier when compared to its counterpart, the liquid cocoa bean extract. All of these reasons give rise to the increased demand of powdered cocoa bean extract.

By End Use:

• Food & Beverages Industry

• Cosmetics Industry

• Pharmaceutical Industry

The End-Use segment was divided into Food & Beverages Industry, Cosmetics Industry and the Pharmaceutical Industry. In this, the segment which took the largest global cocoa bean extract market share was the food and beverages industry. As the demand for processed foods is increasing, the market is maturing. This is a probable reason why the food and beverages industry takes the lead.

By Nature:

• Organic Cocoa Bean Extract

• Conventional Cocoa Bean Extract

The Nature segment was divided into Organic Cocoa Bean Extract and Conventional Cocoa Bean Extract. In this, the segment which took the largest cocoa bean extract market share was the Conventional Cocoa Bean Extract. This is because conventional cocoa bean extract is easier to procure and process. Also, preservatives and stabilizers are added to this to give it longer shelf life. However, the demand for organic cocoa bean extract is also rising sharply as more and more people are adopting a healthier lifestyle.

Cocoa Bean Extract Market Regional Analysis: 

The Global Cocoa Bean Extract Market Report includes the segmentation of Regions:

• North America

1. The U.S.

2. Canada

3. Mexico

The demand for cocoa bean extract is second-highest, following the European region. This demand is primarily due to the high demand for processed foods in the USA and Canada. Also as a majority of processed food products in the food and beverages industry demands cocoa bean extract, the market is expected to grow at a steady X.X% during the forecasted period

• Europe

1. The U.K.

2. France

3. Germany

4. Netherlands

5. Russia

6. Italy

Europe is the world's biggest cocoa processor due to ideal meteorological conditions. The European cocoa sector ground about a million tonnes of cocoa beans, accounting for roughly one-third of global cocoa production, with the Netherlands accounting for 560,000 tonnes, making it the world's second-largest cocoa bean processor.

One million tonnes of cocoa goods pass through the Dutch cocoa trade and processing sectors. In the cocoa trade and processing, Germany, the United Kingdom, and France are all key European players.

• Asia Pacific

1. India

2. China

3. Japan

The chocolate market in the Asia Pacific is predicted to develop faster than the supply of cocoa. As an outcome, manufacturers in this region have a huge chance to diversify their cocoa extract offers. Chocolate consumption has increased as a result of rapid urbanization and rising consumer disposable income, indicating that the cocoa extract industry in this region has significant growth potential.

Cocoa Bean Extract Market Key Players:

1. Bioriginal Food & Science Corporation

2. CPC Ingredients

3. Tharakan and Company

4. Van Aroma

5. The Green Labs

6. Cyvex Nutrition

7. John Aromas

8. Merck KGaA

9. Haldin, Kerry Inc

10. PROVA SAS