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Cocoa Bean Extract Market

Cocoa Bean Extract Market By Nature (Organic, Conventional), Form (Powder, Liquid), End Use (Food & Beverage, Cosmetics & Personal Care, Pharmaceutical Industry) & Region - Forecast 2022-2032

Market Insights on Cocoa Bean Extract covering sales outlook, demand forecast & up-to-date key trends

Cocoa Bean Extract Market Overview

Sales of cocoa bean extracts reached US$ 7.6 Billion in FY 2021, and is poised to register a 3.9% Y-o-Y expansion rate, reaching US$ 7.9 Billion in 2022. During the 2022-2032 forecast period, a CAGR of 3.4% is projected for the cocoa bean extract market. By 2032, it is slated to be valued at US$ 11 Billion.

Report Attribute

Details

Estimated Base Year Value (2021)

US$ 7.6 Billion

Expected Market Value (2022)

US$ 7.9 Billion

Anticipated Forecast Value (2032)

US$ 11 Billion

Projected Growth Rate (2022-2032)

3.4% CAGR

Cocoa bean extract is a bitter concoction made from cocoa beans. It's a concentrated version of cocoa beans. Cocoa bean extract is high in flavanols, procyanidins, and other antioxidants and is used to enhance the flavor of chocolate-containing food formulations.

Cocoa bean extract comes in two forms: liquid and powder. Cocoa bean extract can be easily mixed with a variety of products, including chocolates, cakes, and baby food, without forming a precipitate. Cocoa bean extract has applications in a variety of industries, including food, beverages, pharmaceuticals, cosmetics, and so on, and can be used without the use of emulsifiers, suspension agents, and so on.

Which are Some Prominent Drivers Spearheading cocoa bean extract Market Growth?

Consumers are focusing on nutritional food products that are organic and have a longer shelf life, so food and beverage manufacturers are looking for food ingredients that meet consumer needs and help develop innovative products. Cocoa bean extract meets consumer demands because it is organic and has a longer shelf life, so demand for cocoa bean extract from the food and beverage industry is expected to rise.

Because cocoa bean extract has several health benefits, scientific data on it has increased its use in the pharmaceutical industry. Companies are focusing on the development of pharmaceutical products that use cocoa bean extracts in capsules, tablets, and other forms to provide health benefits in addition to the traditional cocoa flavor.

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What are the Challenges Faced by the cocoa bean extract Industry?

However, one of the major factors restraining the cocoa bean extract market is unfavorable weather conditions, which affect both the quality and yield of cocoa beans. In 2017, Ghana's cocoa production was hampered by inclement weather.

Unpredictable weather patterns can reduce cocoa bean production, raising the cost price. Increases in the price of cocoa bean extract are likely to reduce demand from manufacturers of various products, limiting the growth of the cocoa bean extract market.

Why is Europe Emerging as an Opportunistic cocoa bean extract Market?

Due to favorable weather conditions in Europe, Europe is the world's leading cocoa processor. The European cocoa industry ground over a million tons of cocoa beans, accounting for nearly one-third of global cocoa production, with the Netherlands alone accounting for 553,000 tons, making it the world's second-largest processor of cocoa beans, trailing only Côte d'Ivoire.

The Dutch cocoa trade and cocoa-processing industries handle one million tons of cocoa products downstream. Germany, the United Kingdom, and France are also major European players in the cocoa trade and processing.

Nandini Roy Choudhury
Principal Consultant
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How is Asia Pacific Contributing to Growth of the cocoa bean extract Market?

The Asia Pacific chocolate market is expected to grow faster than its cocoa supply. As a result, manufacturers have a tremendous opportunity to expand their portfolio of cocoa extract offerings in this region. Rapid urbanization and rising disposable income of consumers have resulted in increased chocolate consumption, indicating a clear growth potential for the cocoa extract market in this region.

Market Competition

Some key market players operating in the cocoa bean extract market are Bioriginal Food Science Corporation, The Green Labs, John Aromas, Kerry Inc., Cyvex Nutrition, Inc., Ambe Phytoextracts Pvt Ltd., PROVA SAS, Panacea Phytoextracts Pvt. Ltd., Haldin, CPC Ingredients, Indo-World, Tharakan and Company and Van Aroma.

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Report Scope

Report Attribute

Details

Growth Rate

CAGR of 3.4% from 2022 to 2032

Base Year for Estimation

2021

Historical Data

2015-2020

Forecast Period

2022-2032

Quantitative Units

Revenue in USD Billion, Volume in Kilotons and CAGR from 2022-2032

Report Coverage

Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis

Segments Covered

  • Form
  • Nature
  • End Use
  • Region

Regions Covered

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • APEJ
  • Japan
  • Middle East and Africa

Key Countries Profiled

  • U.S
  • Canada
  • Brazil
  • Mexico
  • Germany
  • U.K
  • France
  • Spain
  • Italy
  • Poland
  • Russia
  • Australia & New Zealand
  • China
  • India
  • ASEAN
  • GCC
  • South Africa

Key Companies Profiled

  • The Green Labs
  • John Aroma
  • Kerry Inc.
  • Cyvex Nutrition, Inc.
  • Ambe Phytoextracts Pvt. Ltd.
  •  PROVA SAS
  • Panacea Phytoextracts Pvt. Ltd.

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Key Segments Covered in the Cocoa Bean Extract Market Report

By Form:

  • Powdered Cocoa Bean Extract
  • Liquid Cocoa Bean Extract

By Nature:

  • Organic Cocoa Bean Extract
  • Conventional Cocoa Bean Extract

By End Use:

  • Cocoa Bean Extract for Food & Beverage
    • Bakery
    • Confectionery
    • Infant Formula & Baby Food
    • Others (e.g. Cereals, etc.)
  • Cocoa Bean Extract for Cosmetics & Personal Care
  • Cocoa Bean Extract for Pharmaceutical Industry
  • Cocoa Bean Extract for Other End Uses (Dietary Supplements, etc.)

By Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • APEJ
  • Japan
  • Middle East and Africa

Frequently Asked Questions

FMI projects the global cocoa bean extract market to expand at a 3.4% value CAGR by 2032

Europe is expected to be the most opportunistic cocoa bean extract market.

The Green Labs, John Aromas, Kerry Inc., Cyvex Nutrition, Inc., Ambe Phytoextracts Pvt Ltd., PROVA SAS, Panacea Phytoextracts Pvt. Ltd. are some prominent cocoa bean extract manufacturers.

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Nandini Roy Choudhury
Principal Consultant
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Cocoa Bean Extract Market