The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Learn moreSep 2016
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As global demand for chocolate continues to rise, demand for cocoa follows suit. However, as consumers’ eating habits change, driven by health, wealth and time, there are now greater opportunities for cocoa growth outside confectionery. At the same time, the industry is facing pressure to produce cocoa sustainably, to maintain production levels and preserve the environment. These trends are discussed in this report, alongside the impact they are having on the global cocoa ingredients industry.
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Asia Pacific continues to be the strongest market for cocoa ingredients, with a forecast CAGR of 4.5% over 2015-2020 compared with 1.7% for the world as a whole. This growth has made it the second largest region by volume, ahead of North America.
Despite the growth in Asia Pacific, the large chocolate confectionery category in Western Europe and North America means they remain very important to the cocoa industry. Growth is weak, but opportunities lie outside chocolate confectionery.
In Western markets chocolate confectionery has been suffering from the health and wellness trend as consumers reduce chocolate consumption and move towards healthier snacks.
Consumers reducing chocolate consumption are still choosing other sweet snacks, and often chocolate is incorporated into products such as sweet biscuits, cakes, pastries and ice cream. These applications are therefore of growing importance to cocoa ingredients.
Trading up to premium and indulgent products may result in a reduction in volumes of cocoa ingredients, but value-added ingredients, such as origin-specific cocoa, are becoming more widely used.
Sustainability in the cocoa industry continues to be of great importance. Without investment in sustainable production the future of the global cocoa industry is uncertain. The use of certification schemes builds consumer confidence in cocoa-related products.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.