DUBLIN--(BUSINESS WIRE)--The "Global Cocoa Beans Market - Growth trends and forecast 2017 - 2022" report has been added to Research and Markets' offering.
Cocoa beans are primarily used as raw material for chocolate and 90% of the global cocoa beans produced are consumed for chocolate production. On an average, around 4 million metric tons of cocoa beans are produced each year. Global production of cocoa beans during 2015 was 4.36 million metric tons. The international market prices of cocoa are very volatile and changes variably with demand and supply. It is forecasted that during 2016 the crop prices will go down due to expected surplus supplies. However, the low prices will drive the demand in the coming years with expected changes in product pipelines of major confectionery companies. The high prices in 2015 has led to lesser profits in grinding which in turn forced grinding companies to close their operations at various places.
The cocoa beans has captured the attention of consumers from around the world, due to fast growth of chocolate confectionary market. The same is the major factor driving the market growth. Other than chocolate confectionary market factors stimulating the market growth include increasing disposable income among middle class and increasing popularity of cocoa based products like cocoa beverages and cocoa powder. However, the commodity price fluctuation, pest and diseases, low productivity, high dependence on seasons and environmental conditions and high cost of farm inputs are restraining the market growth.
This market can be broadly segmented by bean type into organic cocoa bean market and inorganic cocoa bean market. Currently, the market is dominated by the inorganic cocoa bean, however, in the coming years, the demand of organic cocoa bean is going to increase globally.
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