According to the latest report published by Market Research Future (MRFR), the global market size of organic cocoa is likely to grow to USD 585 Mn by the year 585 Mn. This also indicates towards a strong growth of the market over the next couple of years. Organic cocoa-based food variants have expanded dramatically over the recent years and the trend is likely to gain further momentum in the forthcoming years. Modern consumers, especially millennials display a highly positive sentiment towards organic ingredients, which is partly supporting the growth of the market. The demand for premium grade chocolate products is on the rise, which is having a positive influence on the global sales of organic chocolate. Consumption of beverages and functional food prepared with organic ingredient is picking up steams worldwide, which in turn is prompting food brands to increase their focus on organic variants.
Market Research Future (MRFR) in its report offers a detailed segmental analysis of the Global Organic Cocoa Market based on application and region. By application, the market has been segmented into functional food & beverages, pharmaceuticals, bakery & confectionery, personal care products and others. The bakery and confectionery segment is expected to account for the largest share of the market during the forecast period. Use of organic chocolate in confectionary and bakery products has continued to grow over the years owing to their increasing demand from consumers. As consumers become more health conscious, brands are shifting their attention towards chemical-free healthy ingredients such as organic cocoa. The bakery and confectionery segment currently holds more than one-third market share and is expected to exhibit a healthy growth over 2022. The functional food & beverage segment holds the second spot and will remain highly profitable in 2018 and beyond.
By region, the market has been segmented into Americas, Africa and the rest of the world (RoW). The market for organic cocoa in the Americas is expected to remain highly lucrative over the next couple of years. Increased level of health awareness among Americans has led to an increased demand for organic food products, which characterizes the exemplary of the growth of the market in the region. Countries such as the U.S. and Canada remain the top investment destination for market players. By the years 2022, the market in the Americas is expected to reach a valuation of over USD 400 Mn, reflecting a strong growth. Africa is also likely to remain an important organic cocoa market. Over the next four years, the Africa organic cocoa market is project to witness an impressive growth. Africa is a major supplier of cocoa, which puts it in a strong position in the global organic cocoa market.
Key companies operating in the global organic cocoa market include BT Cocoa (Indonesia), Conacado Agroindustrial S.A.(Dominican Republic), Blommer chocolate company (U.S.), Tradin Organic Agriculture B.V. (U.S.), Olam Limited (Uganda), Mars Inc. (U.S.) and Barry Callebaut AG (Switzerland).