Maximize Market Research published a report, titled, “Cocoa Liquor Market” By Type (Forastero cocoa liquor, Criollo cocoa liquor, Trinitario cocoa liquor), By Form (Blocks, Wafers, Paste) by Application ( Chocolate production, Bakery, Confectionery, Dairy products, Other )Global Opportunity Analysis And Industry Forecast, 2022-2029
Cocoa Liquor Market Growth Statistics:
Cocoa Liquor Market was valued at US$ 21.5 Million in 2022 and is expected to reach US$ 31.53 Million by 2029, expanding at a compound annual growth rate (CAGR) of 5.62 percent.
Powering Cocoa Spirits: Key Trends and Insights
The demand for high-end chocolate products derived from cocoa liquid of the highest calibre, the growing use of cocoa liquor in food and beverage applications, and growing consumer knowledge of the health advantages of cocoa are some of the major factors affecting the cocoa liquor market. The market is gaining from the rising demand for items made with dark chocolate and the rising acceptance of organic cocoa liquor. These developments are propelling the market for cocoa liquor, which is anticipated to expand steadily throughout the foreseeable future.
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Leading Market Players: –
1. Barry Callebaut - Switzerland, 2. Cargill - United States, 3. Olam International - Singapore, 4. Touton - France, 5. Blommer Chocolate Company - United States, 6. Nestle SA - Switzerland, 7. Puratos Group - Belgium, 8. Mars, Incorporated - United States, 9. Hershey's - United States, 10.Guittard Chocolate Company - United States, 11.Lindt & Sprüngli - Switzerland, 12.Ferrero Group - Italy, 13.Valrhona - France, 14.CasaLuker - Colombia, 15.Meiji Holdings Co., Ltd. - Japan, 16.Fuji Oil Holdings Inc. - Japan, 17.Petra Foods Limited - Singapore, 18.JB Foods Limited - Singapore, 19.Carlyle Cocoa - United Kingdom, 20.United Cocoa Processor, Inc. - United States, 21.Mondelez International, Inc. - United States, 22.Theobroma BV - Netherlands, 23.Orkla ASA - Norway, 24.Fuji Oil Europe GmbH - Germany, 25.Natra S.A. - Spain,
These important companies in the international Cocoa Liquor Market industry are thoroughly examined in the report. To grow their market share and maintain dominating positions in various geographies, these businesses have implemented a variety of strategies, including new product releases, collaborations, expansion, joint ventures, agreements, and others. The study is significant in that it highlights company performance, operating segments, product portfolio, and strategic actions made by market participants to illustrate the competitive environment.
What is Cocoa Liquor Market Segmentation:
The market can be divided into Forastero, Criollo, and Trinitario liquor categories based on kind.
The market can be divided into cocoa liquor paste, cocoa liquor wafers and cocoa liquor blocks based on form.
The market can be divided into applications for dairy products, confectionery, bakery, and chocolate production.
In 2021, forastero cocoa is anticipated to hold a market share of more than 67%, with a CAGR of 2.8% predicted for the following five years.
The greatest end-use industry for cocoa liquor will be the production of chocolates and confections, followed by ice cream. These two industrial verticals will make up about 50% of the total market volume by the end of 2029.
The market share of each type, form, and use of cocoa liquor is included in the research.
The market for cocoa spirits has a regional division that offers information about the many areas where the beverage is consumed, including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
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Regional Analysis
North America: According to the study, the demand for premium chocolates and healthful dark chocolates would cause the North American cocoa liquor market to expand at a considerable CAGR over the forecast period. Sales of coca spirits are anticipated to increase in the United States at a CAGR of 3% from 2022 to 2029. The report also offers insights on consumer trends and preferences in the area, such as the preference for cocoa beans that are supplied ethically and sustainably.
Europe: Europe consumes the most cocoa liquor globally and holds the majority of the market share. Growing demand for wholesome and environmentally friendly food products is what is driving this trend. Germany will represent one-sixth of the world's economy until 2029.
Asia Pacific: Due to rising chocolate product demand, particularly in nations like China and India, the Asia Pacific cocoa liquor market is anticipated to expand at a considerable development rate during the forecast period. Demand for cocoa liquor in India is anticipated to increase by 5.2% annually.
South America: Latin America produces a substantial amount of cocoa beans and holds a sizable portion of the global market for cocoa-based alcoholic beverages. In 2023, Brazil is anticipated to have 47% of the market. With rising income levels, consumer spending on food and consumables has seen a significant transformation. Latin American nations like Brazil, Mexico, and Ecuador are among the region's top users of cocoa liquor.
Middle East & Africa: The market for cocoa liquor is expanding in these regions as a result of the region's expanding population and rising standard of living. The Middle East and Africa region's top cocoa spirits users include Saudi Arabia, the United Arab Emirates, and South Africa.
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