ID: MRFR/F-B & N/7331-CR | February 2020 | Region: Global | 111 pages
Global Cocoa Nibs Market is expected to register a CAGR of 4.67% and reach USD 1,306.3 Million by 2025. Cocoa nibs are crushed cocoa beans having a bitter, chocolatey flavor. They are produced through the Theobroma cacao tree, also called cocoa tree. Cocoa nibs are loaded with antioxidants and offer several health benefits. The antioxidants help in increasing immunity, controlling blood sugar levels, and improving heart health.
The global cocoa nibs market is expected to register significant growth during the forecast period. The growth of the global cocoa nibs market is attributed to several factors. The rising consumption of cocoa nibs in various applications and the health benefits associated with cocoa are the key factors driving market growth. The increasing demand for cocoa nibs in emerging economies is expected to create new opportunities for the vendors active in the global market. However, fluctuating raw material prices are restricting the growth of the market. Moreover, stringent regulations, especially in Europe, pose challenges for the market players.
Global Cocoa Nibs Market Revenue, by Category, 2025 (USD Million)
Sources: MRFR Analysis
On the basis of category, the global cocoa nibs market has been divided into conventional and organic. The conventional segment accounted for a major market share of 77.51% of the global cocoa nibs market in 2018 and projected to register a CAGR of 4.58% during the forecast period. The demand for the conventional segment is anticipated to be driven by several factors. Easy availability and economical pricing are the key contributors to the high consumption of conventional cocoa nibs. However, the organic segment is projected to witness a higher CAGR of 4.58% during the forecast period of 2019-2025.
Global Cocoa Nibs Market Share, by Region, 2018 (%)
Sources: MRFR Analysis
Europe accounted for the major market share of the global cocoa nibs market and projected to witness moderate growth rate during the forecast period. The growth of the cocoa nibs market in Europe is attributed to several factors. The high consumption of chocolate and chocolate flavors in the food & beverages is expected to be the major factor driving the growth of the European cocoa nibs market. The European cocoa nibs market is projected to be valued at USD 503.8 million by the end of 2025 registering a CAGR of 4.48% during the forecast period. North America also accounted for the significant market proportion of 34.24% of the global cocoa nibs market in 2018. Asia-Pacific is one of the lucrative markets for cocoa nibs manufacturers. Among the countries of Asia-Pacific, China is estimated to retain its dominance throughout the forecast period. China accounted for a major market share of 31.06% in 2018 and projected to witness a growth rate of 4.96% during the forecast period. However, Japan is projected to witness the highest CAGR during the forecast period.
The Prominent Players in the Global Cocoa Nibs Market include Barry Callebaut AG (Switzerland), Cocoa Family Farms (US), Santa Barbara Chocolate (US), NOW Health Group, Inc. (US), Fine Cocoa Products Corporation (US), Sunfood Corporation (US), Viva Naturals (Canada), Navitas LLC (US), Nutrisure Ltd (UK), and United Cocoa Processor, Inc. (US).
The key players are taking steps toward business expansion and market development, expanding their customer base. The international players may strengthen their presence worldwide through acquisitions during the review period. It has also been projected that improvements in the global economic scenario and the growing real estate industry in emerging nations would drive the market growth, making it an ideal time for players to launch new products and increase their global market shares.
Global Cocoa Nibs Market, by Category
Global Cocoa Nibs Market, by Distribution Channel
Global Cocoa Nibs Market, by Region