Cocoa Nibs Market Overview:
Market Research Future (MRFR) studied the Global Cocoa Nibs Market 2022 across the analysis period till 2030. By 2030, the cocoa nib market can thrive at 7.8% CAGR. On the conclusion of the review period, the cocoa nib industry can value at USD 2.05 Bn. The growing demand for organic cocoa nibs among the health-conscious group of people due to their exceptionally high antioxidant content can favor the market rise. Start-up cocoa nib manufacturers are deploying robotics and AI solutions to enhance production processes for catering to the growing demand, thus can boost the revenue generation for the market. The rise in food and beverage application of coca nibs due to nutty and rich chocolate flavor can add to the market expansion. Cocoa nibs are rich source of multiple minerals, fiber, and healthy fats that can help in the management of disorders, such as; diabetes and cardiac issues. The growing cognizance about health benefits of coco nibs can improve the market momentum.
Market Segmentation:
The segment study of the Cocoa Nibs Market Research is done by category and distribution channel. The category-based segments of the coca nib market are conventional and organic. The conventional segment can secure about 77.51% of the global market share by end the forecast tenure. The conventional segment can register 4.58% CAGR across the analysis period due to multiple factors. Affordability and easy availability of conventional nibs and increase in their consumption can favor the market. The organic segment can surge at 4.58% CAGR between 2019 and 2030. The distribution channel-based, coca nibs market segments are non-store based and store-based. The increase in adoption of non-store-based solutions due to their viability and ones-stop consumer experience in stores are causes that can underline the market rise in the near future.
The availability of an extensive range of products across different stores and rise in commercial applications, such as; for bakery and coffee food solutions can benefit the market. The rise in preference for organic cocoa nibs due to inclination towards natural foods among consumers can support the market. The adoption of healthy lifestyle and expansion of food and beverages with low-sugar content products can favor the market rise.
Regional Insights:
North America can have the largest share of the worldwide Cocoa Nibs Market. It can secure about 30.0% market share. in 2019. The U.S can spearhead the regional market. The high number of consumers of chocolate in the region and the increasing rate of chocolate production to satiate the growing demand can favor the market expansion in the near future. The adoption of AI and robotics among other disruptive technologies for chocolate production can benefit the regional market. In Asia Pacific, the coca nib market can rise at 8.6% CAGR across 2022 to 2027. The consumption of different types of chocolate and shift in consumers’ dessert preferences can impact APAC coca nib market. Improving lifestyles and hike in disposable income are other causes that can benefit the market. The presence of huge young population and their growing demand for chocolate and related products are attracting huge traction for coca nibs, creating new avenues for upsurge of the regional market through the forecast period.
Key Players:
Barry Callebaut AG (Switzerland), Nutrisure Ltd (UK), Santa Barbara Chocolate (US), Cocoa Family Farms (US), NOW Health Group, Inc. (US), Sunfood Corporation (US), Fine Cocoa Products Corporation (US), Viva Naturals (Canada), Navitas LLC (US), and United Cocoa Processor, Inc. (US) are some enterprises studied by MRFR to gain insights into the expansion dynamics of the Global Cocoa Nibs Market Report for the assessment period.
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