Cocoa beans are available in different varieties in the market, including Criollo cocoa beans, Forastero cocoa beans and Trinitario cocoa beans.
PORTLAND, OR, UNITED STATES, December 16, 2021 /EINPresswire.com/ – Cocoa beans are well-known cash crops in the South American region. Cocoa beans have been used for centuries in a wide range of applications and have created a great demand in the market. These beans have several health benefits and other beneficial properties. Thus, a high demand has been reported for cocoa beans, as they are used on a large scale in the food and beverage, confectionery and cosmetics industries.
COVID-19 scenario analysis
The cocoa bean market is expected to bear the impact of the COVID-19 pandemic to some extent. Chocolate is the main product made from cocoa beans. Although it is not an essential product, it is increasingly purchased by consumers. However, the lockdown has had a negative impact on purchases of seasonal and high-end products. Thus, sales of cocoa-based products at Easter showed unsatisfactory results. The disruption of the supply chain in cocoa producing countries will lead to a major cocoa shortage and is a concern for organic cocoa manufacturers. Additionally, retail sales of travel sweets are halted due to travel bans and the global quarantine.
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Cocoa beans are available in different varieties in the market, including Criollo cocoa beans, Forastero cocoa beans and Trinitario cocoa beans. Among these, Criollo cocoa beans are in high demand in the world market due to their high quality. In addition, Criollo cocoa beans are more expensive than the other two varieties of cocoa beans. In addition, many other cocoa products can be extracted from cocoa beans, including cocoa butter, cocoa liquor, and cocoa powder. The main consumer of cocoa beans is the constantly growing chocolate industry. Thus, the expansion of the chocolate industry is expected to propel the growth of the global cocoa beans market at a rapid rate during the forecast period.
Main impact factors: analysis of market scenarios, trends, drivers and impact analysis
Strong demand for cocoa beans from the chocolate industry is driving the cocoa bean market globally. Along with this, increasing demand for chocolate products is boosting the growth of the global cocoa bean market. By now, consumers have become more health conscious and are turning to products with health benefits, which in turn increases the sale of cocoa beans. This is attributed to the fact that cocoa beans help improve blood circulation, lower blood pressure, and reduce the risk of heart attack. Additionally, the presence of minerals, vitamins, potassium, iron, and copper help support cardiovascular health and carry oxygen throughout the body. Thus, all these factors are significantly contributing to the growth of the Global Cocoa Bean Market.
However, the weakening of the proper supply network and fluctuating prices of cocoa beans are hampering the growth of the market. At the same time, the lack of agricultural management skills and the lower penetration of modern agricultural techniques in some regions are limiting the growth of the cocoa bean market. In addition, various crop pests and diseases are massively affecting the production of cocoa beans, which decreases the production of cocoa beans, thus acting as a major challenge for the growth of the overall market.
On the contrary, improved agricultural techniques, aggressive advertising, brand recognition and increased investment in R&D to discover new uses for cocoa beans should provide lucrative opportunities for the growth of this market, to l global scale.
The global cocoa beans market trends are as follows:
Use of cocoa beans in the cosmetics industry
The chocolate industry is witnessing a new trend in skin therapy. Health professionals and experts duly recommend the benefits of chocolate treatment on the skin. This trend has generated high income in the cocoa bean market.
Introduction of modern agricultural techniques
The vast production of cocoa beans is done in emerging economies and by small farmers, who lack modern agricultural infrastructure and technologies, which has an impact on cocoa bean production. To address this concern, the government is taking various initiatives that educate farmers on modern farming techniques and farm management skills. For example, the Indonesian government launched a program in 2009 that increased its production of cocoa beans to 600,000 tonnes per year. In addition, in 2015, they invested $ 100 million in the distribution of new cocoa beans to Indonesian farmers.
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Main Key Players: Meridian Cacao Company, InterNatural Foods LLC, Cargill, Inc., The Barry Callebaut Group, Olam Group, The Mexican Arabica Bean Company, Puratos Group, Blommer Chocolate Company, Cemoi, Cocoa Supply Company, Meiji Holdings Company, Jindal Cocoa , Costa Esmeraldas Cacao Co. and United Cocoa Processor