| Source: Fortune Business Insights Fortune Business Insights
Pune, India, March 29, 2022 (GLOBE NEWSWIRE) — The global organic cocoa market size was USD 532.45 million in 2020. The market is projected to grow from USD 570.95 million in 2021 to USD 942.57 million by 2028, exhibiting a CAGR of 7.42% during the forecast period. This information is published by Fortune Business Insights™ in its report titled, “Organic Cocoa Market, 2021-2028.”
As per our researchers, the rising demand for organic chocolate sweets drives market growth. Cocoa is consumed massively across the globe for several food and beverage purposes. For instance, according to Cocoa Exposed, the world consumption of cocoa is projected at 2800000 tons annually. The biggest importers are Europe, with more than 1.2 million tons per annum, and the United States, with over 0.4 million tons yearly.
The report delivers a complete study of the market along with modern trends and future anticipations to achieve proximate investment gains. An exhaustive analysis of any upcoming opportunities, threats, competitions, or driving factors is also cited in the report. Step by step, systematic regional analysis is carried out and offered to our readers. The principal players in the market are acknowledged, and their approaches to bolster the organic cocoa industry are shared in the report.
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List of Key Players Covered in the Organic Cocoa Market Report;
Drivers and Restraints
Surging Consumer Curiosity in Premium Chocolates to Stimulate Market Growth
Organic cocoa is expansively employed for the production of chocolate sweets. The increasing disposable income among customers in urbanized and emerging markets has rapidly changed consumer shopping inclinations. People these days pursue healthy eating items across snacking aisles. The admiration of specialty and finest chocolate sweets has been growing over the last several years owing to the increasing consumers’ capability to expend on top quality products.
Premium confectioneries are mainly produced by utilizing organic, fair-traded, and morally found cocoa. The rising consumer worries concerning aspects such as workforce wellbeing, single-origin organic cocoa, and principled trading methods that have considerably impacted the growth of this industry worldwide. Specialty and finest quality chocolate confectioneries are emerging as popular gifts at festivals and special times across Asian nations such as Japan, China, and India. The rising popularity of superior products among millennials is projected to further thrust the organic cocoa market growth.
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Increasing Adoption of Fitness Routine to Help Europe Remain at the Forefront
Europe held the majority of the market share and is anticipated to be the key market for chocolate and other related products owing to the escalating consciousness regarding secure equivalents of organic products over the traditional ones. Leading European countries such as Germany, France, and Italy are turning progressively conscious about upholding a fitness routine, which has, in turn, augmented the demand for organic products. The region earned USD 219.59 million in 2020 in terms of revenue.
The evolving trend of clean-label, fair-traded, and morally obtained food products in North American markets such as the U.S. and Canada have eventually powered the growth of the market in the region.
Asia Pacific is observing healthy growth of the market owing to the amplified flexible income levels among buyers in the region. The increasing capability of customers to expand on beneficial products has augmented the application for naturally produced across confectionery, beverage, bakery, and dairy industries.
Key Players Aim to Introduce Novel Products to Compete with Their Rivals
The organically farmed cocoa market displays a reasonably combined structure with some multinational corporations controlling major shares in the market. The chief players such as Olam International, Barry Callebaut AG, and Tradin Organic Agriculture B.V. are concentrating on novel product improvements, mergers, and procurements, to reinforce the market further. The introduction of new and small-sized organic producers considerably adds to the competition throughout the market, which has an optimistic impact on the industry.
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January 2020: Herza Schokolade, a leading German brand of organic chocolate, launched 20 different organic chocolate goods to aim at the snacks and ice cream market.
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