Cocoa fiber is a dietary fiber which is used in the food industry as an additive. Dietary fiber has a wide range of effectual health applications such as lowering the risk of heart disease, colon cancer, and diabetes, the treatment of colonic disorders, improving gastrointestinal function and others. Cocoa fiber is obtained from roasted cocoa husks by cleaning, micronization, and heat steam (sterilization). Cocoa fiber used as the replacement of cocoa powder, to improve nutritional value, shelf life and texture with having miniature effects on taste. Moreover, the cocoa fiber used in numerous end-use applications including bakery, beverages, cosmetics, pharmaceuticals, and others. Cocoa fiber is also used for the board and paper manufacturing to create tailored solutions application for many industries. Manufacturers are launching variants of cocoa-based fiber in order to cater to the evolving needs of customers related to various health concerns and increasing demand for healthy and innovative products. Companies are also focusing on improving production capacity and innovating promptly to offer products that are healthy and also come in different varieties.
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Cocoa Fiber Market: Dynamics
Awareness among the consumers globally concerning the numerous health benefits associated with chocolate has been witnessing a substantial rise in the recent past and is anticipated to continue to drive revenues of the global cocoa fiber market over the forecast period. Over the years, the production and consumption of bakery products with lower calories count has increased. The rise in obesity, cardiovascular disease, and other diet-related illness has led to more awareness of the lower calorie food ingredients. Moreover, lower intake of fruits, pulses, vegetable results in insufficient fiber intake. Resultantly, bakery products fat part replaced with the cocoa fiber content, and this is expected to increase the demand of cocoa fiber market. The increasing popularity of chocolates among the young generation, propel the demand and consumption for the cocoa powder. Manufacturers are developing and launching new and innovative varieties such as fruits, coated vegetables, nuts, cereals & others, and popularity for such varieties is growing progressively, especially in developed countries. This, in turn, is influencing preference for products in the target market, and driving market growth to a significant extent Key market Players.
Cocoa fiber prices are volatile due to factors such as uncertain weather conditions, pests, political instability, etc. The above-mentioned factors are expected to impact cocoa output from growers, in turn hampering supply of cocoa fiber to manufacturers.
Cocoa Fiber Market: Segmentation
Cocoa fiber market is segmented on the basis of product type, and application
On the basis of product type cocoa, fiber market can be segmented as
On the basis of application cocoa, fiber market can be segmented as
- Functional Food
- Bakery Items
- Packaging industry
Cocoa Fiber Market: Regional Analysis
Europe is expected to remain the most prominent region for cocoa fiber production and consumption throughout the forecast period. Rising awareness of associated health benefits with the cocoa fiber and increasing consumption of dietary supplement in the North America market, resultantly upsurge the demand for cocoa fiber over the years. Emerging economies in Asia Pacific region are entering into the cocoa fiber market to increase production capacity and supply due to challenges faced by the major cocoa producing countries. According to the FAO, the highest number of cocoa beans processed in Europe followed by the Asia & Oceania, the Americas, and Africa respectively. Rising production of cocoa beans create positive growth outlook for the cocoa fiber market. Increasing concern towards a healthy lifestyle also propels the demand for cocoa fiber in developing countries. Latin America and MEA are expected to deliver moderate growth in cocoa fiber market over the forecast period.
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Cocoa Fiber Market: Key Market Participants
Examples of some of the key market players in the cocoa fiber market identified across the value chain include:
- GreenField Natural Ingredients
- Cargill Inc.
- Jindal Cocoa
- Carlyle Cocoa
- Archer Daniels Midland Company
- Barry Callebaud