Milk And White Chocolate Segment Shows Immense Growth In The Forecast Period (2016-2021)

Milk And White Chocolate Segment Shows Immense Growth In The Forecast Period (2016-2021)

ID: 2583 | October 2018 | Region: Global

The Cocoa and Chocolate Market report published by Market Data Forecast provides a detailed account of the Market Trends via Customized Research presented as Strategic Analyses, Company Profiles, Competitive Landscape, etc. According to the report the Cocoa and Chocolate Market is estimated to be USD 123.32 billion in 2016 and predicted to rise to USD 138.03 billion by 2021 with a CAGR of 2.28%. The market is segmented by Chocolate Type (Dark Chocolate, Milk Chocolate, White Chocolate and Filled Chocolate), Cocoa Type (Cocoa Butter, Cocoa Liquor and Cocoa Powder), and by Application (Cosmetics, Pharmaceuticals, Food and Beverage and Confectionery). Further the market is also geographically segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East and Africa.

The cocoa and chocolate market has been growing at a decently steady pace. The strong demand from North America is driving the cocoa and chocolate market in the region. Cocoa provides flavor, texture, and colour to products. Moreover, it has anti-oxidative, anti-inflammatory, and anti-depressant properties. The market for these ingredients is observing growth in developing economies such as China and India. Dark chocolate contains large amounts of antioxidants, which are helps in delaying or preventing certain types of diseases like Cardiac arrest. These health benefits, perceived by people and doctors, have been the leading reason behind strong growth for products with high quantities of cocoa.

The milk and white chocolate segment is expected to grow at the fastest rate from 2016 to 2021. The cocoa liquor segment dominated the cocoa market in 2016. Europe is the leading consumer of cocoa, followed by North America. Also, Europe is a major processor of cocoa in the global market and is forecasted to grow at the highest rate. However, the overall cocoa and chocolate industry in the European region has become stagnant and saturated over the last few years. Consumer awareness pertaining to health benefits of cocoa has led to some of the important innovations in the North American cocoa and chocolate industry.

Some of the major companies dominating the market, by their products and services include ADM, Cargill, Bunge, Barry Callebaut, Indcresa, Blommer and JB Foods Limited, Plot Ghana, Dutch Cocoa and Cocoa Processing Company Limited.

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