The organic cocoa powder market is valued at US$98.753 million in the year 2020 and is projected to reach a market worth US$359.907 million by 2027, growing at a CAGR of 20.29% during the forecast period. Rising healthcare concerns and increasing adoption of organic products owing to their numerous healthcare benefits are the prime reasons that are expected to drive the market demand for organic cocoa powder. Cargill and Barry Callebaut are two major players who are operating in the organic cocoa powder industry.
It has been observed that Chocolate Consumption has been growing since 2019. Among all the chocolates, the preference for dark chocolate is increasing as it is rich in iron, zinc, and magnesium.
One more study from Sultan Qaboos University, Oman, by Riaz Shah in 2020, states that pesticides directly or indirectly affect the nervous and endocrine systems. This leads to an adverse effect that can cause endocrine diseases.
These studies, in a way, promote the consumption of food products. This led to the high demand for organic products. Therefore, when counting on dark chocolate, its essential nutritive value with organic content is viewed as the healthiest combination for consumption.
Chocolate as a market driver
It has been observed that Chocolate Consumption has been growing since 2019. Among all the chocolates, the preference for dark chocolate is increasing as it is rich in iron, zinc, and magnesium.
- According to a study by the Harvard T.H. Chan School of Public Health, the best quality dark chocolate contains 70% cocoa powder. The darker the chocolate, the higher the amount of cocoa powder with essential nutrients.
- According to “American Journal of Clinical Nutrition”, dark chocolate contains flavonoids that help in the relaxation of blood vessels that control blood pressure.
- In 2019, Dr. Chris Aiken from the Clinical Psychiatry Department of Wake Forest University stated, on the basis of a cross-sectional survey, that people who ate dark chocolate every day were less likely to experience depressive symptoms by 70%. It also stated that people who strive for a healthy lifestyle tend to consume dark chocolate compared to milky chocolates. Therefore, along with children, adults are also inclined towards the consumption of dark chocolate.
Organic food products have gained popularity in recent years. Scientific research has spread awareness regarding the adverse effects of pesticides in recent years.
One more study from Sultan Qaboos University, Oman, by Riaz Shah in 2020, states that pesticides directly or indirectly affect the nervous and endocrine systems. This leads to an adverse effect that can cause endocrine diseases.
These studies, in a way, promote the consumption of food products. This led to the high demand for organic products. Therefore, when counting on dark chocolate, its essential nutritive value with organic content is viewed as the healthiest combination for consumption.
Latest developments
- Many chocolate companies also promoted the organic method of chocolate preparation. In 2019, in India, the first "Certified Organic" chocolate brand was launched, named "Pascati." The cocoa powder used comes from Kerala’s Idukki region by organic process. In May 2021, Cocoa Mantra, an eCommerce website, started selling a range of organic chocolate products. Additionally, an increase in the fitness-enthusiastic population raised the demand for organic products.
- In September 2021, a famous food and grocery industry named "Progressive Grocery" launched an ORGANIC chocolate syrup named "RXSugar." RxSugar has very low sugar with healthy ingredients that are extracted using the organic process.
- In a successful attempt to promote organic snack consumption, Noah Schnapp launched a new Hazelnut Cocoa Spread product named "TBH". With no palm oil, the product is made up of hazelnuts, organic cocoa powder, and organic sugar.
KEY MARKET SEGMENTS
BY DISTRIBUTION CHANNEL
- Online
- Offline
BY END-USER INDUSTRY
- Beverage
- Food
- Bakery
- Others
- Cosmetic
- Household
BY GEOGRAPHY
- North America
- USA
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Others
- Europe
- United Kingdom
- Italy
- Spain
- Others
- Middle East and Africa
- Saudi Africa
- Germany
- France
- Saudi Arabia
- Others
- Asia Pacific
- China
- Japan
- South Korea
- India
- Thailand
- Taiwan
- Indonesia
- Others
Table of Contents
1. INTRODUCTION1.1. Market Definition1.2. Market Segmentation
2. RESEARCH METHODOLOGY 2.1. Research Data
2.2. Assumptions
3. EXECUTIVE SUMMARY3.1. Research Highlights
4. MARKET DYNAMICS4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. ORGANIC COCOA POWDER MARKET BY DISTRIBUTION CHANNEL5.1. Introduction
5.2. Online
5.3. Offline
6. ORGANIC COCOA POWDER MARKET BY END-USERS INDUSTRY 6.1. Introduction
6.2. Beverage
6.3. Food
6.3.1. Bakery
6.3.2. Others
6.4. Cosmetic
6.5. Household
7. ORGANIC COCOA POWDER MARKET BY GEOGRAPHY7.1. Introduction
7.2. North America
7.2.1. USA
7.2.2. Canada
7.2.3. Mexico
7.3. South America
7.3.1. Brazil
7.3.2. Argentina
7.3.3. Others
7.4. Europe
7.4.1. Germany
7.4.2. France
7.4.3. United Kingdom
7.4.4. Spain
7.4.5. Others
7.5. Middle East and Africa
7.5.1. Israel
7.5.2. Saudi Arabia
7.5.3. Others
7.6. Asia Pacific
7.6.1. China
7.6.2. Japan
7.6.3. South Korea
7.6.4. India
7.6.5. Thailand
7.6.6. Indonesia
7.6.7. Taiwan
7.6.8. Others
8. COMPETITIVE ENVIRONMENT AND ANALYSIS8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. COMPANY PROFILES9.1. Barry Callebaut
9.2. BATA FOOD
9.3. Royal Forest
9.4. Plant Pantry
9.5. Neotea
9.6. Navitas
9.7. Forest
9.8. Naturevibe Botanicals
9.9. Cargill
Companies Mentioned
- Barry Callebaut
- BATA FOOD
- Royal Forest
- Plant Pantry
- Neotea
- Navitas
- Forest
- Naturevibe Botanicals
- Cargill
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 130 |
| Published | March 2022 |
| Forecast Period | 2020 - 2027 |
| Estimated Market Value ( USD | $ 98.75 million |
| Forecasted Market Value ( USD | $ 359.91 million |
| Compound Annual Growth Rate | 20.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 9 |
