Prevalence of chocolate as one of the most sought-after and widely consumed product in the world of food & beverages has urged companies to extend the production of cocoa liquor. Over the years, a range of chocolate products such as cocoa butter have been processed through cocoa liquor. Farmers from across the globe are increasingly shifting towards cash crops, which has incidentally spurred the global cocoa production. With ample cocoa beans at their disposal, companies in the global cocoa liquor market are setting up new processing plants and extending their production capacities. However, a key impediment for production of cocoa liquor is the cost-intensive of edible alcohols. Since production of cocoa liquor entails the use of alcohols, environmental protection agencies are creating stringency in their supply chain, and companies are being compelled to control the toxic emissions of their processing plants.
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A new report by Fact.MR projects that the demand for cocoa liquor will remain high in the near future, however, companies will struggle to meet them cost-effectively. During the forecast period, 2017-2026, the global market for cocoa liquor is expected to expand at a CAGR of 2.9%. By the end of 2026, over 1.4 million tons of cocoa liquor is likely to be sold in the global market. The report has addressed and analyzed a slew of factors influencing the production and consumption of cocoa liquor in the global food & beverage industry.
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6 Key Takeaways from The Report
- North America and Europe is poised to remain at the forefront of global cocoa liquor consumption. Increasing presence of chocolates in European dietary lifestyles will instrument the region’s dominance in the global cocoa liquor market. In 2017, Europe has been dubbed as the largest market for cocoa liquor, registering sales of half a million tons of cocoa liquor.
- Asia-Pacific excluding Japan (APEJ) region, on the other hand, is pegged to register high production of cocoa liquor, with increasing cultivation of cocoa beans in countries such as China and India.
- In terms of products, cocoa liquor made from Dutch-processed cocoa beans will be witnessing a marginally high demand compared to natural cocoa liquor products. In 2017, over 630,000 tons of Dutch cocoa liquor products are estimated to have been sold in the global cocoa liquor market.
- Through 2026, cocoa liquor made from the Trinitario cocoa variety is expected to register rapid sales at a CAGR of 5.2%, while Criollo cocoa variety will account for more than 50% of the global market volumes.
- Over the forecast period, chocolates and confectionaries will represent the largest end-use industrial vertical for cocoa liquor products, followed by ice-cream industry.
- On the basis of form, the wafers segment is poised to dominate the global cocoa liquor market in terms of volume, bringing in revenues from sales of nearly 700,000 tons by the end of 2026.
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The report has also studied and profiled the companies partaking the global production of cocoa liquor. Companies namely, Nestle, Hershey’s, Cargill, Inc., ADM, Ghirardelli, Cocoa Processing Company, Mars, Inc., Valrhona, Barry Callebaut, and Bloomer Chocolate are expected to actively participate in the expansion of the global cocoa liquor market through 2026.