The Global Cocoa Nibs Market size was valued at USD 1.18 billion in 2020 and is expected to reach USD 1.84 billion at a compound annual growth rate (CAGR) of 7.9% from 2020 to 2027. The growing application of cocoa nibs in the food and beverage sector owing to their raw, nutty, and rich chocolate flavor is projected to be a key factor for the market growth. Moreover, these crushed and roasted cocoa beans are a rich source of various minerals, fiber, proteins, and healthy fats, which help in reducing the occurrences of various chronic disorders, such as diabetes and cardiovascular diseases. These associated health benefits are expected to promote the utility of cocoa nibs as a healthy functional ingredient. Cocoa nibs are dried, roasted, fermented, and crushed cocoa beans, which not only find application in making premium chocolates, but also in the bakery and beverage sectors.
These roasted and crushed cocoa beans are naturally low in sugar and are a rich source of fibers, healthy fats, proteins, antioxidants, and minerals, such as iron, phosphorus, magnesium, and zinc. These nutritional properties are expected to attract buyers to maintain a healthy lifestyle. These crushed cocoa beans are loaded with potent plant compounds, including flavonoid antioxidants, such as procyanidins, catechin, and epicatechin. These flavonoids are associated with several health benefits as they reduce the risk of cardiovascular diseases and carcinogenic disorders. It has anti-inflammatory properties, controls the blood sugar, and helps to improve the immune response of the body.
Conventional cocoa nibs held the largest share of more than 70.0% in 2020 and is anticipated to maintain the lead over the forecast period owing to an extensive range of products available at the global level. Moreover, its wide application lies in the commercial sector, where bakers and coffee shops largely use it in several products across the globe.
The commercial application segment held the largest share of more than 65.0% in 2020 and is expected to maintain the lead over the forecast period. The confectionery sector is the largest consumer of cocoa nibs while the bakery and beverage industries are among the fastest-growing segments in terms of usage. Manufacturers are actively introducing these nibs in various bakery products, including muffins, cookies, cupcakes, and bread, in order to enhance the flavor as well as bring out the rich chocolate flavor.
The cocoa nibs market is segmented on the basis of product, application and region. By product the market is divided into Conventional, Organic. By application the market is divided into Commercial, Household.
North America was the largest regional market for cocoa nibs with a share of more than 30.0% in 2020. The U.S. is one of the largest consumers of chocolate in the North American market. An estimated 2.8 billion pounds of chocolate is consumed every year by the U.S. population. Manufacturers are increasing their chocolate production in the region owing to the increasing demand among consumers. For instance, in October 2018, Mars, Incorporated strategized to invest around USD 20 million in Mexico by 2022 to increase its production capacity in order to keep up with the demand for chocolate in the country.
Asia Pacific is anticipated to be the fastest-growing regional market with a CAGR of 8.6% from 2020 to 2027. The consumption of various types of chocolate is continuously increasing in the region owing to shifting consumers’ food preferences, improving lifestyles, and increasing disposable income in the region. With the presence of a large young population, chocolate and its related products are gaining traction in the region, which is further anticipated to open new avenues for the regional market over the forecast period.
Key players of the market are: Barry Callebaut AG; Cocoa Family Farms; United Cocoa Processor, Inc.; Navitas Organics; Fine Cocoa Products Corporation; Sunfood; Viva Naturals; NOW Foods; Urban Platter; BMV International.
These roasted and crushed cocoa beans are naturally low in sugar and are a rich source of fibers, healthy fats, proteins, antioxidants, and minerals, such as iron, phosphorus, magnesium, and zinc. These nutritional properties are expected to attract buyers to maintain a healthy lifestyle. These crushed cocoa beans are loaded with potent plant compounds, including flavonoid antioxidants, such as procyanidins, catechin, and epicatechin. These flavonoids are associated with several health benefits as they reduce the risk of cardiovascular diseases and carcinogenic disorders. It has anti-inflammatory properties, controls the blood sugar, and helps to improve the immune response of the body.
Conventional cocoa nibs held the largest share of more than 70.0% in 2020 and is anticipated to maintain the lead over the forecast period owing to an extensive range of products available at the global level. Moreover, its wide application lies in the commercial sector, where bakers and coffee shops largely use it in several products across the globe.
The commercial application segment held the largest share of more than 65.0% in 2020 and is expected to maintain the lead over the forecast period. The confectionery sector is the largest consumer of cocoa nibs while the bakery and beverage industries are among the fastest-growing segments in terms of usage. Manufacturers are actively introducing these nibs in various bakery products, including muffins, cookies, cupcakes, and bread, in order to enhance the flavor as well as bring out the rich chocolate flavor.
The cocoa nibs market is segmented on the basis of product, application and region. By product the market is divided into Conventional, Organic. By application the market is divided into Commercial, Household.
North America was the largest regional market for cocoa nibs with a share of more than 30.0% in 2020. The U.S. is one of the largest consumers of chocolate in the North American market. An estimated 2.8 billion pounds of chocolate is consumed every year by the U.S. population. Manufacturers are increasing their chocolate production in the region owing to the increasing demand among consumers. For instance, in October 2018, Mars, Incorporated strategized to invest around USD 20 million in Mexico by 2022 to increase its production capacity in order to keep up with the demand for chocolate in the country.
Asia Pacific is anticipated to be the fastest-growing regional market with a CAGR of 8.6% from 2020 to 2027. The consumption of various types of chocolate is continuously increasing in the region owing to shifting consumers’ food preferences, improving lifestyles, and increasing disposable income in the region. With the presence of a large young population, chocolate and its related products are gaining traction in the region, which is further anticipated to open new avenues for the regional market over the forecast period.
Key players of the market are: Barry Callebaut AG; Cocoa Family Farms; United Cocoa Processor, Inc.; Navitas Organics; Fine Cocoa Products Corporation; Sunfood; Viva Naturals; NOW Foods; Urban Platter; BMV International.
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