Valued at US$ 10 Bn in 2019, cacao beans market will grow at a robust CAGR during the forecast period (2019 – 2029). Increasing demand for organic ingredients in modern households and foodservice companies present an emerging source of continuous revenues. According to a new study by Future Market Insights (FMI), sales of cacao beans have surpassed traditional offline channels, witnessing a measurable uptick via online channels.
Key Research Findings of FMI’s Cacao Beans Market Study
- Owing to high availability, forastero cacao beans will maintain share-wide dominance.
- On the back of rarity, criollo beans will register significant sales growth during the forecast period.
- Foodservice industry will generate highest demand for cacao beans.
- Europe continues to lead the market, with over 47% revenue share.
Key Growth Drivers – Cacao Beans Market
- Heightening demand from the foodservice sector is driving market growth.
- Expanding health-conscious consumer population assists the growth of market.
- String presence of leading cacao grinders and processors in Netherlands, Germany, Belgium, France, and UK will drive growth in the European Union.
- Increasing application in bakery & confectionary will bolster demand through the end of 2029.
Key Impediments – Cacao Beans Market
- Low yield of criollo beans continues to pose a restraint for cacao beans market.
- Growing interest in artificial cacao flavor production in lab is challenging traditional manufacturers in the market.
Competitive Analysis – Cacao Beans Market
Market players are consolidating the cacao supply chain through mergers and acquisitions. For instance, Barry Callebaut acquired Russian chocolate producer Inforum in February, 2019. Few prominent producers in the cacao beans market are Cargill Inc., Theobroma B.V., Olam International Limited, Ciranda Inc., Edna Group, Barry Callebaut AG, Dutch Cocoa B.V., Kakao Berlin, Niche Cocoa Industry Ltd., PT. Danora Agro Prima, Nederland SA, Cocoa Processing Company, India Cocoa Pvt Ltd., United Cocoa Processors Inc., BT Cocoa among others.
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Press Release Source: https://www.globenewswire.com/news-release/2020/03/03/1994405/0/en/Cacao-Beans-Market-Surpassed-US-10-Bn-Mark-in-2019-Increasing-Preference-for-Organic-Ingredients-to-Favor-Growth-Says-Future-Market-Insights.html
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centers in the U.S. and India. FMI’s largest market research reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition.
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