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(MoneyNewsWire.Net, November 15, 2017 ) The Europe Cocoa and Chocolate Market was worth $28.36 billion in 2016 and estimated to be growing at a CAGR of 2.34%, to reach $31.84 billion by 2021. The market is showing enormous potential in the mentioned period. The amount of cocoa defines the category of the chocolate. Milk chocolates have the highest share of about 50% of all chocolate consumption but they contain only about 10% cocoa.
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Market Conditions:
The cocoa and chocolate market has been growing at a slow but steady pace. Strong demand from United States is propelling the cocoa and chocolate market in the region, as Europe happens to be the largest producer of cocoa. Cocoa provides texture, colour and flavour to products. Also, it has anti-inflammatory, anti-oxidative, and anti-depressant properties. The market for these ingredients is increasing in developing economies such as India and China. In specific, dark chocolate contains high amounts of antioxidants, which are believed to prevent certain types of diseases like Cardiac arrest. A health benefit, perceived by people and doctors, has been the main reason behind steady growth for products with high quantities of cocoa.
Fast and steady growth in demand is not evenly matched against an unpredictable and unstable supply. But chocolate consumers are not generally price sensitive. Except in some very rare circumstances consumers are, in general, ready to purchase cocoa product at any given price. The growing demand for chocolate and cocoa in industries is the major driver of the market. The health-related benefit of chocolate and cocoa in cosmetics and pharmaceuticals has enough evidence needed to back manufacturers in order to consider using such ingredients.
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Europe Cocoa and Chocolate Market Segmentation:
• By Chocolate Type: Introduction, Dark Chocolate, Milk Chocolate, White Chocolate and Filled Chocolate
• By Cocoa Type: Introduction, Cocoa Butter, Cocoa Liquor and Cocoa Powder
• By Application: Introduction, Cosmetics, Pharmaceuticals, F&B and Confectionary
• By Geography: Introduction, UK, Spain, Germany, Italy and France
Some of the leading companies in Europe Cocoa and Chocolate Market:
• Cargill
• ADM
• Bunge
• Barry Callebaut
• Plot Ghana
• Dutch Cocoa
• Cocoa Processing Company Limited
• Indcresa
• Blommer
• JB foods limited
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