A report by Future Market Insights underlines what the industry already knows. A highlight from the report summarises it as follows:
- Forastero cacao beans are majorly utilized as the accessibility of this kind of cacao beans is more any different type. However, the requirement for Criollo beans remains the highest, as they are very rare and cultured less in commercial plantation due to their low output.
- Cacao beans are widely used in bakery & confectionery industry. Demand is likely to grow remarkably in the foodservice sector, particularly in European nations.
- Key market players are anticipated to surface with healthier and innovative cocoa products utilizing cacao beans with the motivation of pulling health-conscious customers worldwide.
- ‘Ruby’ chocolate, quinoa vegan bars, and raw chocolate bars are just a few of the products enterprises have brought into the market to sustain their health-conscious customers
- With the existence of foremost cocoa processors/grinders in nations such as Netherlands, Belgium, Germany, UK, France, and others, the European Union is anticipated to be the most lucrative region in the worldwide cacao beans market during 2019 to 2029
However, typical analysis is based upon taking past results and projecting future results. The Coronavirus is an example of a ‘Black Swan’ event – one that you cannot predict – which may have an impact we don’t yet understand.
Certainly, vegan and healthy chocolate developments, such as wholefruit will gain popularity in our opinion. There is a zeitgeist for a new and healthy approach to living to which the chocolate industry is not immune. However, as the world is almost certainly going to enter a prolonged recession, it’s unknown what the consumers appetite will be for premium chocolate products, and throws into uncertainty the future of many small specialist companies.
