Global Cocoa Liquor Market Size will Observe Substantial Growth by 2026
Prevalent popularity of chocolate-based products in the food & beverage sector continue to influence companies towards increasing the production of cocoa liquor. A wide range of cocoa products are being made from cocoa liquor, which include cocoa butter, cocoa-based creams, and other chocolate solids. Over the years, the demand for cocoa liquor is surging vigorously, while producers are struggling to extend their production capacities.
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While increasing inclination of farmers towards cash crops has spurred the cultivation of cocoa in the global agricultural sector, companies partaking in the global cocoa liquor market are facing challenges with respect to high use of alcohols. The presence of edible alcohol in cocoa liquor continues to become a major concern for environmental companies as the production of cocoa liquors entails emission of toxic elements.
In the approaching years, the demand-supply gap in the global cocoa liquor market will be a key reason for its sluggish growth. Apropos a Fact.MR forecast study, over 1.4 million tons of cocoa liquor is expected to be sold across the globe by the end of 2026. The study has also assessed that during the forecast period, the global cocoa liquor market will expand at a CAGR of 2.9%. Key findings from the report also reveal that a majority of cocoa liquor will be produced in the Asia-Pacific excluding Japan (APEJ) region, while Europe and North America will represent largest consumer marketplaces for cocoa liquor through 2026.
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Marginally High Demand for Dutch Cocoa Liquors
Increasing adoption of the Dutching process among producers of chocolate products in the global food and beverage sector is slated to influence the demand for Dutch cocoa liquor. Being darker in color, consumers are expected to remain inclined towards Dutch cocoa liquor over natural cocoa liquor, particularly for baking applications. In 2017, over 630,000 tons of Dutch cocoa liquor is estimated to have been sold in the global market.
Surging Demand for Cocoa Liquor Wafers in the Chocolates & Confectionaries Industry
The report has analyzed the global cocoa liquor market on the basis of the form of liquor. It is forecasted that in 2017 and beyond, high amounts of cocoa liquor in the form of wafers will be sold globally. The report also reveals that chocolates and confectionaries will be the largest end-use industry for cocoa liquor, followed by ice-cream production. By the end of 2026, these two industry verticals will account for nearly half of the global cocoa liquor market volumes.
Competition Tracking
Key producers of cocoa liquor have been profiled in the report, which include Hershey's, Ghirardelli, Nestle, ADM, Cargill, Inc., Valrhona, Mars, Inc., Cocoa Processing Company, Bloomer Chocolate, and Barry Callebaut. These companies are expected to remain active in the expansion of the global cocoa liquor market during the forecast period.
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