SAN FRANCISCO, Sept. 16, 2020 /PRNewswire/ -- The global cocoa
nibs market size is expected to reach USD 1.99 billion by 2027, according to
a new report by Grand View Research, Inc., expanding at a CAGR
of 7.9% from 2020 to 2027. Growing application of cocoa
nibs in the food and beverages industry on account of its nutty and
chocolatey flavor, coupled with exceptional nutritional properties,
is expected to remain a key factor for the market growth. Moreover,
increasing use of these nibs in frozen desserts and beverages, such
as smoothies and coffees, is offering new scope for the global
market.
Increasing adoption of these crushed product forms in
confectionery, bakery, and dessert products among all age groups is
expected to have a positive influence on market growth. Health
benefits associated with products also play a substantial role in
driving the demand for these products. Another important factor
anticipated to influence the growth prospects of the market is the
launch of different kinds of products in the global market.
Key suggestions from the report:
- The conventional product segment accounted for a share of
more than 70.0% in 2019 and is anticipated to maintain the lead
over the forecast period owing to the extensive range of products
available in the global market
- The commercial application segment held the largest share of
more than 65.0% in 2019. The confectionery sector is the largest
consumer of cocoa nibs while the bakery and beverage industries are
among the fastest-growing segments in terms of usage
- The organic product segment is expected to witness the
fastest growth with a CAGR of 8.2% from 2020 to 2027 owing to
higher adoption of organic and natural foods among consumers across
the globe
- Asia Pacific is anticipated
to foresee the fastest growth with a CAGR of 8.6% from 2020 to
2027. The consumption of various types of chocolates is
continuously increasing in countries, such as China and India, owing to shifting consumers' food
preferences, improving lifestyles, and increasing disposable income
at the domestic level.
Read 80 page research report with ToC on "Cocoa Nibs Market
Size, Share & Trends Analysis Report By Product (Conventional,
Organic), By Application (Commercial, Household), By Region
(North America, Europe, APAC, Central & South America, MEA), And Segment Forecasts,
2020 - 2027" at:
https://www.grandviewresearch.com/industry-analysis/cocoa-nibs-market
The household application segment is expected to expand at the
fastest CAGR of 8.1% from 2020 to 2027. With shifting consumers'
preference for a healthy lifestyle, nutritious and rich flavored
products are increasingly adopted by consumers. People are
increasingly using cocoa nibs for making cakes, cookies, smoothies,
flavored milk, and they are also simply consumed as snacks.
North America was the largest
regional market, accounting for a share of more than 30.0% in 2019
as the U.S. is one of the largest consumers of chocolates in the
world. Demand for the organic products is significantly increasing
in the country owing to shifting consumers' preference for organic
and healthy foods, which is expected to expand the scope of cocoa
nibs at the national level.
Grand View Research has segmented the global cocoa nibs
market on the basis of product, application, and region:
- Cocoa Nibs Product Outlook (Revenue, USD Million, 2016 -
2027)
-
- Cocoa Nibs Application Outlook (Revenue, USD Million, 2016 -
2027)
-
- Cocoa Nibs Regional Outlook (Revenue, USD Million, 2016 -
2027)
-
- North America
-
- Europe
-
- Asia Pacific
-
- Central & South
America
-
- Middle East & Africa
- List of Key Players of Cocoa Nibs Market
-
- Barry Callebaut AG
- Cocoa Family Farms
- United Cocoa Processor, Inc.
- Navitas Organics
- Fine Cocoa Products Corporation
- Sunfood
- Viva Naturals
- NOW Foods
- Urban Platter
- BMV International
Find more research reports on Consumer F&B
Industry, by Grand View Research:
- Bubble Tea Market – Rising
consumption of tea and coffee as nootropic drinks among students
and working-class population is a key factor for the market
growth.
- Coconut Milk Powder Market – Increasing adoption of these
powdered forms as one of the economical alternatives with higher
shelf-stability to regular coconut milk is driving the market.
- Frozen Fruits Market – Gaining popularity of non-seasonal
fruits at the global level as a result of their freshness and
exceptional nutritional benefits is expected to remain a key
driving factor.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting
company, provides syndicated as well as customized research reports
and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425
analysts and consultants, adding more than 1200 market research
reports to its vast database each year. These reports offer
in-depth analysis on 46 industries across 25 major countries
worldwide. With the help of an interactive market intelligence
platform, Grand View Research helps Fortune 500 companies and
renowned academic institutes understand the global and regional
business environment and gauge the opportunities that lie
ahead.
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