Cocoa Nibs Market Scope:
The global cocoa nibs market is expected to grow at a strong 7.8% CAGR over the forecast period from 2022 to 2030, according to the latest research report from Market Research Future (MRFR). The global cocoa nibs market is expected to reach a valuation of USD 2.05 billion by 2030. The research report profiles the global cocoa nibs market in great detail and provides readers with a comprehensive overview of the market. The market’s historical growth trajectory, present conditions, and future growth prospects are studied in the report.
The report provides a comprehensive overview of the market’s historical growth trajectory by detailing the historical stats regarding the market. Future projections are based on the detailed historical stats offered in the report. Based on this platform, future projections for Cocoa Nibs Market growth trajectory over the forecast period are provided in the report. The report also profiles the leading players in the global cocoa nibs market and gives readers a comprehensive analysis of the leading players in the global cocoa nibs market. The report also profiles the major drivers and restraints affecting the global cocoa nibs market. The factors making the market tick and those holding the market back are studied in detail in the report. The impact of the COVID-19 pandemic on the cocoa nibs market is also assessed in the report.
Cocoa nibs are produced from the Theobroma cacao tree and have a bitter, chocolatey flavor. This leads to their growing demand, as the taste of cocoa nibs is highly agreeable and pleasant. Apart from their taste, cocoa nibs are also valued for their high nutrition value, as they are full of antioxidants. These antioxidants impart several health benefits, including a healthier heart, improved immunity, and reduced blood sugar levels. This has driven the demand for cocoa nibs over the last few years. Increasing product visibility, due to the growing investment by major players in advertising and marketing, is also a major driver for the global cocoa nibs market over the forecast period.
The demand for organic cocoa nibs is likely to grow at a robust rate over the forecast period. Due to the growing awareness about organic products, organic farming practices are being incorporated into various products. This is likely to remain a major driver for the global cocoa nibs market over the forecast period.
Segmentation:
The global cocoa nibs market is segmented on the basis of category and region.
By category, the global cocoa nibs market is segmented into organic and conventional. The conventional segment holds the largest share in the global cocoa nibs market and is likely to dominate over the forecast period due to the ease of growing cacao trees in the conventional manner. However, the organic category is likely to grow at a robust growth rate over the forecast period, as the demand for organic agricultural produce is likely to grow over the forecast period.
Regional Analysis:
Europe holds the dominant share in the global cocoa nibs market due to the growing presence of chocolate makers in the region. The strong presence of several major players in the region is likely to be a major driver for the cocoa nibs market in Europe over the forecast period.
Competitive Leaderboard:
The global Key Cocoa Nibs Market Players include United Cocoa Processor Inc., Nutrisure Ltd., Navitas LLC, Viva Naturals, Sunfood Corporation, Fine Cocoa Products Corporation, NOW Health Group Inc., Santa Barbara Chocolate, Cocoa Family Farms, and Barry Callebaut AG. Major players in the global cocoa nibs market are likely to focus on market expansion in the coming years. Inorganic growth through mergers and acquisitions is likely to be a major tactic of players in the global cocoa nibs market over the forecast period. There are many smaller players in the global cocoa nibs market, as local companies can corner local markets with great ease. This can lead to high merger and acquisition activity over the forecast period, as major players in the market look to acquire smaller players in order to expand their market share. Product diversification and advertising is also likely to be a major tactic for players in the global cocoa nibs market over the forecast period.
About Market Research Future:
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