Food Coating Market Growth Opportunities by 2028

According to a research report "Food Coating Market by Ingredient Type (Batter, Flours), Application (Bakery, Snacks), Equipment Type (Coaters and Applicators, Enrobers), Form (Dry, Liquid), Mode of Operation (Automatic, Semiautomatic) and Region - Global Forecast to 2028" published by MarketsandMarkets, the food coating ingredients market is estimated at USD 3.6 billion in 2023 and is projected to reach USD 4.9 billion by 2028, at a CAGR of 6.2% from 2023 to 2028.

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The food coating equipment market is estimated at USD 5.7 billion in 2023 and is projected to reach USD 7.7 billion by 2028, at a CAGR of 6.3% from 2023 to 2028.

Food coating refers to the process of adding a layer of coating or breading to food products, which can provide improved texture, taste, appearance, and preservation. The market for food coating is driven by several factors, including the growing demand for convenience and processed food products, increasing consumer preferences for crispy and crunchy food textures, and the need for extended shelf life of packaged food. The demand for convenience food products, such as frozen and ready-to-eat meals, has been on the rise. Food coatings are used to enhance the taste and texture of these products, thereby driving the market growth. The food coating equipment market is steadily increasing in North America and Europe and growing consistently due to established equipment manufacturers and the organized food industry.

The Cocoa & Chocolates in by ingredient type segment accounted for the largest share of the food coating market in 2023 in terms of value.

Chocolate and cocoa are crucial ingredients that are used to make a variety of products, including cereal, protein bars, dried fruits, and nuts. These components are frequently used to add a delightful chocolate flavor to bakery and confectionery items. Enrobing, panning, and dipping are the three main techniques for coating foods like caramel or almonds in chocolate. The centers that will be covered in chocolate are transported via a machine during the enrobing process. Chocolate is sprayed onto revolving centers that are put on pans during panning, and then the chocolate is solidified by air that has been cooled. The centers are dipped, then cooled after being submerged in molten chocolate.

The North America region accounted for the largest share, in terms of value, of the global food coating ingredients market in 2023.

The food coating ingredient market in North America is witnessing substantial growth, primarily fueled by the thriving food processing industry. Furthermore, the region's rising health concerns, including obesity and heart ailments, have led to a heightened emphasis on consuming healthy products such as low-sugar breakfast cereals. In response to this demand, food coating ingredient manufacturers have introduced products with reduced sugar content and allergen-free formulations. These factors have provided a significant boost to the North American food coating ingredient industry.

The North American food coating market is experiencing robust expansion, driven by various factors. One of the key drivers is the increasing demand for convenience foods, which arises from evolving lifestyles and busy schedules. Consumers are actively seeking quick and easy food options that align with their time constraints. Food coatings play a crucial role in enhancing the appeal of convenience foods by adding layers of flavor and texture. Additionally, these coatings aid in preserving the freshness and quality of products during transportation and storage, contributing to their popularity in the market.

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The Asia Pacific region accounted for the largest share, in terms of value, of the global food coating equipment market in 2023.

The Asia Pacific area is poised to become the largest market for food coating equipment. This expansion is being fueled largely by causes such as the region's growing industrialization, rising demand from numerous applications, and government measures to assist food producers and processors in modernizing their technology and processes. Many multinational corporations are creating manufacturing facilities, distribution centers, and research & development centers to capitalize on the promise of these expanding markets. Due to favorable government backing and cheap labor costs, India is likely to enjoy tremendous development, drawing investments from global firms. Small and medium-sized equipment manufacturers in the Asia Pacific area mostly supply semi-automatic coating equipment, responding to the rising demand from diverse end-use applications in countries such as China, India, Indonesia, and other Asian nations, driving the expansion of the coating equipment market in the region.

Major key players operating in the food coating market Cargill Incorporated (US), Kerry Group plc. (Ireland), ADM (US), Ingredion (US), Newly weds Food (US), Associated British Foods PLC (UK), Tate & Lyle (UK), Solina (France), Idan Foods (US), POPLA International, Inc. (US).

Food & Beverage Metal Cans Market Growth Opportunities by 2028

According to a research report "Food Beverage Metal Cans Market by Material (Aluminum and Steel), Type (2-Piece and 3-Piece), Degree of Internal Pressure (Pressurized Cans and Vacuum Cans), Application (Food and Beverages), and Region - Global Forecast to 2028" published by MarketsandMarkets, The FB metal cans market is estimated at USD 33.0 billion in 2023 and is projected to reach USD 46.2 billion in 2028, at a CAGR of 7.0%. Metal cans are used in the packaging of food and beverages along with other consumer goods like aerosols, paints, etc., as it maintains the product shelf-life. They are typically cylindrical containers that can be customized in terms of appearance by end-consumer manufacturers. The key driver for the FB metal cans market is the increase in the demand for convenience food items. With more and more people embracing a healthy lifestyle, the demand for fresh and canned foods have increased, which fuels the need for metal cans for food beverage application.

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The high demand for canned food drives the market

Canned foods are minimally processed food that is ready-to-eat or ready-to-cook food. Consumers are demanding more of this processed food as it can be stored easily and has a longer shelf-life. Functional and processed foods are packed in special ways into different metal cans which keeps the taste and texture of the food intact. Additionally, the convenience of foods packed in cans increases its demand in the market.

The growing popularity of aluminum is projected to boost the material segment.

Most aluminum cans are made of two pieces, the can is produced from one metal piece and the manufacturing process is called drawing and wall-ironing. These cans are light in weight as compared to that other metal packaging materials and are recyclable. Aluminum is abundantly available in nature and is cost-effective. This helps in reducing the overall production cost. Most of these aluminum cans are single-use cans and wisely have their application due to enhanced malleability properties. The only issue that arises is in terms of the recyclability of aluminum cans which are prepared with a combination of aluminum and magnesium. During the recycling process, the mixture is not fully utilized.

The increasing trend of 2-piece cans in food and beverage application is set to dominate the market during the study period

Two-piece cans are made from a disc of metal which is formed into a cylinder with an integral end. 2-piece cans are produced by molding a single piece of material into a can-shaped body with an integral end and seamed lid. These cans are designed mainly to keep the taste, texture, and flavor of the food inside fresh and sterile. These cans provide excellent sealing and require less raw material for production. 2-piece cans are primarily used to pack instant food without going through the thermal processing step in manufacturing.

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Asia Pacific provides the highest growth prospects for the FB metal cans market in 2023

Asia Pacific is a highly diverse market in terms of metal cans manufacturing and consumption. The Asia Pacific FB metal cans market is expected to grow at a significant rate. The region comprises two densely populated regions India and China, which are dominated by an increase in the consumption of packed drinks and food products. The Asia Pacific region is estimated to account for the largest share in the dairy beverage market, and the demand for liquid dairy products is driven by economic growth, urbanization, and the rise in purchasing power of consumers. These countries are also offering key players to expand their reach in the FB metal cans market by providing a vast customer base, the focus of the companies operating in the market is shifting towards establishing business and manufacturing facilities, which drives the market in the region. The prime factor contributing to the growth of FB metal cans in the region is the growing adoption of metal cans to meet the intensifying food packaging demand and escalating population. Additionally, key players like Crown Holdings, Inc. (US), Ball Corporation (US), Silgan Holdings Inc. (US), Ardagh Group (Luxembourg), and others have a strong presence and market share in the region, which further boosts the FB metal cans market in the Asia Pacific.

Key players in this market include Crown Holdings, Inc. (US), Ball Corporation (US), Silgan Holdings Inc. (US), Ardagh Group (Luxembourg), CCL Container (US),  Can Pick S.A (Poland), Kian Joo Group (Malaysia), CPMC Holding (China), Envases (Spain), Toyo Seikan Group Holdings, Ltd (Japan), Universal Can Corporation (Japan), Independent Can Company (US), VISY (Australia), Mauser Packaging Solutions (US), Lageen Food Packaging (Israel), Massilly Holdings S.A.S (France), P.Wilkinson Containers Ltd (UK), Kingcan Holdings Limited (China), Muller and Bauer GmbH (Germany), Jamestrong Packaging (Australia).

Gummy Supplements Market 2023 Size, Share, Growth | Report 2028

The global Gummy supplement market is projected to reach USD 48.5 billion by 2028 from USD 24.6 billion by 2023, at a CAGR of 14.5% during the forecast period in terms of value. The World Health Organization (WHO) estimates that more than two billion people worldwide suffer from micronutrient insufficiency. Iron, vitamin A, and iodine deficiencies are the most prevalent worldwide, particularly in youngsters and pregnant women. Micronutrient deficits are disproportionately prevalent in low- and middle-income counties. Micronutrient deficiencies can induce evident and serious health issues, but they can also produce less clinically noticeable decreases in energy, mental clarity, and overall capacity. This may result in poorer academic performance, decreased productivity at work, and a higher chance of contracting other illnesses and medical disorders. A lot of these inadequacies can be avoided by taking supplements. Thus, consumers are gradually adopting gummy supplements which provide the required number of vitamins, minerals, and other micronutrients in a convenient and tasteful form.

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Drivers: Rising rate of vitamin-deficiency diseases and undernutrition

Micronutrient deficiencies impair immune systems, impede infant growth and development, and limit human potential, resulting in increased morbidity and mortality rates. Iron, vitamin A, zinc, folate, vitamin B12, vitamin D, and iodine deficiencies can all have severe health consequences, including increased susceptibility to infections, birth defects, blindness, stunted growth, cognitive impairment, poor school performance and productivity, and even death. Adolescent girls, women of reproductive age (aged 15-49 years), pregnant and lactating women, and young infants are especially vulnerable to the adverse effects of micronutrient deficiency due to high nutritional requirements. It has been demonstrated through various scientific studies that improving diets, fortifying staple foods and condiments, biofortification, and supplementation can increase the intake of micronutrients in the general population or in populations with higher needs. This can reduce the overall burden of maternal and child morbidity, impaired neurocognitive development, and mortality, associated with micro-nutrient deficiencies.

Gummy supplements like vitamins are intended to be more palatable than usual vitamin supplements offered in the form of tablets and capsules so that consumers are more likely to consume them frequently. Additionally, vitamins that are soluble, chewable, sticky, or greasepaint tend to be simpler to digest. Vitamin C and B2 (riboflavin) are the two most frequently used vitamins incorporated in multivitamin gummies.

Opportunities: Growing Gummy Supplements Market Increase in aging population

The WHO estimates that one in six individuals on the planet will be 60 years of age or older by 2030. By this point, 1.4 billion people are anticipated to be over the age of 60, up from 1 billion in 2020. The organization further estimates that between 2020 and 2050, there will be 426 million more people who are 80 years of age or elderly than there are today.

Although the shift in a nation's population distribution toward older ages began in high-income countries (for instance, in Japan, 30% of the population is already over 60 years old), the biggest shift is currently being experienced in low- and middle-income nations. Two-thirds of the world's populace over 60 are expected to reside in low- and middle-income nations by 2050. gummies are soft on the palate and easy to swallow and digest while being loaded with vitamins, minerals, and fibers. Hence, it can be projected that the growing aging population would foster the growth of the gummy supplements market.

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Gummy Supplements Market Ecosystem

Prominent companies in this market include well-established, financially stable manufacturers of gummy supplemdnts. These companies have been operating in the market for several years and possess a diversified product portfolio, state-of-the-art technologies, and strong global sales and marketing networks.

The key players in this market include GSK PLC. (UK), Church & Dwight CO., INC. (US), H&H Group (Hong Kong), Amway (US), Procaps Group(Luxembourg), The Clorox Company (US), Bayer AG (Germany), Haleon Group of Companies (UK), Catalent, Inc. (US), Nestle (Switzerland), Unilever (UK). in sugar substitutes market include International Flavors & Fragrances Inc. (US), ADM (US), Tate & Lyle (UK), Ingredion (US), and Cargill, Incorporated (US).

Dietary Supplements Market Growth by Emerging Trends, Analysis, & Forecast

According to a research report "Dietary Supplements Market by Type (Botanicals, Vitamins, Minerals, Amino Acids, Enzymes, Probiotics), Function, Mode of Application, Target Consumer, Distribution Channel (Pharmacy, Supermarket/Hypermarket, Online) and Region - Global Forecast to 2028" published by MarketsandMarkets, the dietary supplements market is estimated at USD 167.5 billion in 2023 and is projected to reach USD 239.4 billion in 2028, at a CAGR of 7.4%. A dietary supplement is a product intended for ingestion that contains a "dietary ingredient" intended to supplement the diet. The term "dietary ingredient" includes vitamins, minerals, herbs, botanicals, amino acids, enzymes, and probiotics that are part of the food supply. Some of the other key ingredients include concentrates, metabolites, constituents, extracts, or combinations of any dietary ingredient from the preceding categories. Dietary supplements may be found in many forms, such as pills, tablets, capsules, gummies, soft gels, liquids, and powders. They can also be in the same form as a conventional food category, such as teas or bars.

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The high demand for vitamins for all age groups drives the market

Vitamins are required in small quantities, to maintain health and necessary function of the human body. Different vitamins play vital like maintaining bone density, proper hormonal activity, weight, and muscle mass in all humans. Most of these micronutrients like vitamins and minerals need to be taken up from daily diet as they cannot be synthesized by the human body or it produces in lesser quantities. Factors such as consuming processed food, junk food, and lifestyle changes lead to a decrease in vitamin consumption which demands requirement through dietary supplements.

The growing popularity of additional supplements to complement daily diets is projected to boost the additional supplement function segment.

Additional supplements are concentrated sources of nutrients such as minerals and vitamins or other substances with a nutritional or physiological effect. These additional supplements are intended to correct nutritional deficiencies, maintain an adequate intake of nutrients, and support specific physiological functions. They are not medicinal products and as such cannot exert a pharmacological, immunological, or metabolic action. The increasing awareness of overall health and wellness amongst the younger generation is driving the demand for additional supplements.

The increasing trend of consuming liquid beverage supplement is set to dominate the market during the study period

Liquid dietary supplements help to resolve nutritional deficiencies by providing an adequate amount of micronutrients and macronutrients as per the daily recommended dietary allowance for each body type. Since, it helps in curbing malnutrition and nutritional deficiencies, dietary supplements helps in proper physiological functions. They do not possess any pharmacological, immunological, or medicinal action, as they do not posess any active pharmaceutical ingredient. Since, liquid supplements are easy to consume by any age group and the content are easily digestible it is convenient and affordable to use and consume. Due to this factor, the liquid segment would dominate the market.

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The need for optimal nutrition due to the changing lifestyle increases the demand for dietary supplements in adults

Over-the-counter dietary supplements are big business. Vitamins and minerals are essential to helping the body develop and function as it should. While most adults get all of what's recommended by eating healthy, some need a little extra nutrient boost. That's where supplements support your body’s needs to stay healthy. Due to their busy lifestyle adults are prone to chronic health conditions and high stress levels. Though supplements do not prevent them from these disorders, it helps the target population to maintain overall good health.

The ease of use further fuels the growth of online distribution channels in the global dietary supplements market

An e-commerce distribution channel is a path through which goods and services flow from producers to consumers. The primary purpose of a distribution channel is to make goods and services available to consumers most efficiently and effectively as possible. According to a survey by TimesNow, on dietary supplements in India conducted in March 2022, around 51% of respondents who took dietary supplements or nutraceuticals stated that they purchased them online. This indicates that most of the people prefer online purchases which fuel the demand for this distribution channel.

Asia Pacific provides the highest growth prospects for the dietary supplements market in 2023

Asia Pacific is a highly diverse market in terms of dietary supplement manufacturing and consumption. The Asia Pacific dietary supplements market in is expected to grow at a significant rate. The population across has been increasingly switching towards a healthier life by the adoption of dietary supplements in different forms, which are naturally sourced. Additionally, the geriatric population has been growing in countries such as Japan, where the demand for geriatric supplements and medicinal supplements is set to grow. Further, after the pandemic countries like India and China are increasingly adopted these supplements apart from daily diet, as a means of prevention and fulfilling dietary requirements. These countries are also offering key players to expand their reach in the dietary supplements market by providing a vast customer base, the focus of the companies operating in the market is shifting towards establishing business and manufacturing facilities, which drives the market in the region.

The prime factor contributing to the growth of dietary supplements in the region is the growing adoption of supplements to meet the intensifying food demand and escalating population. Additionally, key players like Abbott (US), Nestle (Switzerland), and others have a strong presence and market share in the region, which further boost the dietary supplements market in the Asia Pacific.

Key players in this market include Nestle (Switzerland), Abbott (US), Amway Corp (US), Pfizer Inc. (US), ADM (US), International Flavors & Fragrance (US), Otsuka Holdings Co., Ltd (Tokyo), Glanbia PLC (Ireland), GSK PLC. (UK), Bayer AG (Germany), Herbalife International of America, Inc. (US), Nature's Sunshine Products, Inc (US), Bionova (Canada), ArkoPharma (France), American Health (US), Pure Encapsulation (US), H&H Group (Hong Kong), Nu Skin (US), Power Gummies (India), Biomedical Research Laboratories (US), HealthKart (India), NutriScience Corporation (US), Nature's Essentials (US), and Life Extension (US)

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Foliar Spray Market Growth Opportunities by 2028

According to a research report "Foliar Spray Market by Type (Nitrogenous, Phosphatic, Potassic and Micronutrients), Form (Powder and Liquid), Application (Horticultural Crops, Field Crops, Turfs Ornamentals), Region ( North America, Europe, Asia- Pacific) - Global Forecast to 2028" published by MarketsandMarkets, the global foliar spray market will grow from USD 7.3 billion in 2023 to USD 9.6 billion by 2028, growing at a CAGR of 5.5% during the forecast period. Foliar spray is becoming increasingly popular in the agricultural industry due to its numerous advantages over traditional soil-based fertilization methods. One of the main drivers of the foliar spray market growth is the increasing demand for food due to the rising global population. The foliar spray technique is a highly effective way to increase crop yields, as it allows for the precise application of nutrients and pesticides directly to the plant's leaves. In addition to its effectiveness, foliar spray is also more environmentally friendly than traditional soil-based fertilization methods. Because it allows for more precise application of nutrients and pesticides, there is less waste and runoff, which reduces the risk of pollution and environmental damage.

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The Micronutrients foliar sprays segment is driving the market due to advancements in agriculture industry

The foliar spray of micronutrients either as individual, specific compounds or in combination with other micronutrients is widely employed. A foliar treatment is efficient than a soil application at improving plant internal processes, cell homeostasis, water relations, productivity under abiotic challenges and it provides nutrients directly to the leaves where they are easily absorbed. Consumers are increasingly demanding high-quality and nutritious crops, which has led to a rise in the use of foliar sprays. These sprays help in improving the quality of the crops by providing essential micronutrients. Farmers are becoming more aware of the importance of micronutrients for plant growth and are using foliar sprays to provide these nutrients to their crops. Manufacturers are investing in research and development to develop advanced foliar spray formulations that provide better nutrient uptake and absorption by plants. These advancements are driving the growth of the market.

The liquid foliar sprays segment is driving the market in the foliar spray in 2023

Liquid foliar sprays are typically made up of a mixture of water and nutrients, such as nitrogen, phosphorus, and potassium, along with micronutrients like iron, manganese, and zinc. These nutrients are dissolved in water and sprayed directly onto the leaves of plants, where they are absorbed and utilized by the plant. They provide plants with a quick boost of nutrients when they are needed most, such as during periods of rapid growth or when plants are experiencing stress. Liquid foliar sprays are also beneficial because they bypass soil-related issues that may limit nutrient uptake in the plant's roots. Additionally, liquid foliar sprays improve the overall health of plants by providing them with a more balanced and complete nutrient profile. Liquid foliar sprays are a valuable tool for growers and gardeners looking to support the growth and health of their plants. By providing a quick and easy way to deliver nutrients directly to the leaves of plants, liquid foliar sprays help plants to thrive and reach their full potential.

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North America region is witnessing the growth in the foliar spray market due to increasing demand for high-value crops

The demand for high-value crops such as fruits, vegetables, and ornamental plants is increasing in North America, which has led to the adoption of advanced farming techniques such as foliar spraying. Foliar sprays help improve the yield and quality of these crops, leading to higher profits for farmers. As more farmers learn about the benefits of foliar spraying, the demand for these products is increasing. Foliar sprays help improve crop health, increase yields, and reduce the need for other inputs such as fertilizers and pesticides. As a result, more farmers are adopting foliar spraying as part of their overall crop management strategy. Precision agriculture is an approach to farming that uses technology such as GPS and sensors to optimize crop production. Foliar spraying is an important part of precision agriculture, as it allows farmers to target specific areas of their fields with the nutrients or pesticides they need. As precision agriculture becomes more widespread, the demand for foliar sprays is increasing. Overall, the foliar spray market in North America is growing due to the increasing demand for high-value crops, the adoption of precision agriculture practices, the development of innovative formulations, the increasing demand for organic food, and favorable government policies.

The key players in foliar spray market include Eurochem Group (Switzerland), Nutrien Ltd. (Canada), Yara (Norway), Israel Chemical Limited (Israel), Coromandel International Limited (India) and The Mosaic Company (US).

Fruit Fillings Market Growth by Emerging Trends, Analysis, & Forecast

According to a research report "Fruit Fillings Market by Filling Type, Fruit Type (Berries, Citrus Fruits, Tropical Fruits), Application (Bakery, Confectionery, Dairy, Ice Cream, Beverages), and Region (North America, Europe, Asia Pacific, RoW) - Global Forecast to 2028" published by MarketsandMarkets, the global Fruit Fillings market is projected to reach USD 3.8 billion by 2028 from USD 3.0 billion by 2023, at a CAGR of 4.6% during the forecast period in terms of value. The market has been growing steadily in recent years, driven by increased consumer demand for convenience foods, the popularity of on-the-go snacks, and the rise of e-Commerce platforms. Moreover, the consumers are inclined towards premium products and exploring new cuisines. They are willing to spend extra for high-quality and nutritious products with low-calorie, less sugar, and this trend is expected to continue. Thus, the growth of this market is majorly attributed to the growing changing consumer preferences and the increasing demand for natural, healthier, and tasty food ingredients.

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Fruit fillings without pieces segment is anticipated to have the largest share among the filling types in 2023

The global market for fruit fillings without pieces is currently experiencing tremendous growth. Fruit fillings without pieces typically have delicious fruity flavors and all the necessary micronutrients. As the fruit fillings without pieces, which are generally in pureed, paste or sauce format, are convenient and has versatility properties to use into various food and beverage applications. These factors are anticipating the growth of fruit fillings market.

The berries segment is projected to grow at the fastest rate among all the other fruits in the Fruit Fillings market in 2023

Berries are one of the most popular fruits used in fruit fillings due to their unique flavor, nutrition, and vibrant colors. Berries like strawberries, blueberries, raspberries, blackberries, and cranberries are commonly used in fruit fillings for bakery and confectionery products such as cakes, pastries, pies, and donuts. The production of berries for food processing industry has been steadily growing which is indicating a growing demand for value-added berry fruit products, which drives the market for fruit fillings.

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Asia Pacific region is witnessing the highest growth rate in the Fruit Fillings market

Due to the increased demand for bakery and confectionery products and the rise of the middle-class population along with their increasing disposable income levels in emerging economies such as India, China, and Indonesia have contributed to the growing demand for fruit fillings in the region.

Additionally, according to 2022 analysis from the Institite of Grocery Distribution, the grocery retail market in China is the largest grocery market in Asia Pacific which is growing rapidly year-on-year. This expansion in modern retail channels which offer wide range of food and beverage products coupled with the rising consumption of baked goods is boosting the market for fruit fillings.

The key players in the fruit fillings market include Puratos Group (Belgium), Dawn Food Products Inc. (US), Agrana Beteiligungs- AG (Austria), CSM Ingredients (Luxembourg), Bakels Worldwide (Switzerland), Barry Callebaut (Switzerland), Andros Group (France), Zentis Gmbh & Co. KG (Germany), Rice & Company Inc. (US), and Fruit Filling Inc. (US).

Upcoming Growth Trends in the Cocoa and Chocolate Market

The cocoa market is projected to reach USD 26.3 Billion by 2027 growing at a CAGR of 4.5% from 2022 to 2027. The chocolate market is projected to reach USD 160.9 Billion by 2027 growing at a CAGR of 4.7% from 2022 to 2027. The rising demand for cocoa in the food processing industry propels the growth of the cocoa market. The steadily growing awareness of the health benefits of cocoa is a major propellant for the growth of the market.

The key players in cocoa and chocolate market include Mars, Inc. (US), Mondelez International (US), Nestle S.A. (Switzerland), Meiji Holding Co. Ltd.(Japan), Ferrero International(Italy), Olam Group (Singapore), Barry Callebaut(Switzerland), Cargill Incorporated (US), Cocoa Processing Company (Ghana), Archer Daniel Midland (ADM) Company (U.S.), Chocoladefabriken Lindt Sprüngli AG (Switzerland) and Pladis Global(UK) among others.

With the growing awareness about health, an increasing number of consumers are prioritizing their health and following specific diets with specific needs. This propels the demand for dark chocolate with high cocoa and less sugar. Cocoa is the major raw material required to manufacture chocolate. The slightest turbulence in the cocoa market would lead to price fluctuations. According to the International Cocoa Organization, the world’s largest supplier of cocoa is Africa, which accounts for 72% of the global production of cocoa. Ivory Coast and Ghana are the major countries producing cocoa, but these countries are also facing certain issues such as fair-trade discrepancies, environmental issues, spells of government unrest, and reducing labor force as more population is leaving farming as an occupation and opting other professions Therefore, measures such as implementation of National Cocoa Development Plan (NCDP) in the member countries of ICCO are being undertaken to improve the production of cocoa. Initiatives like these gives a promising outlook towards fulfilling the rising demand for cocoa globally. The cocoa chocolate market players are showing trends of pursuing both organic as well as inorganic strategies for their expansion, consolidation, and sustainability in the market. 

Mondelez International is one of the leading providers and distributors of high-quality snacks. It provides a wide range of snacking product portfolios to its customers worldwide. The company has its presence in regions such as Asia, the Middle East, Africa, Europe, Latin America, and North America. It has operations in over 80 countries. The company’s product category includes beverages, biscuits, chocolate, gum, and candy. Mondelez now owns some of the most famous chocolate and confectionery brands such as Oreo, Milka, Toblerone, TUC, and Cadbury. Other bakery brands include Barni, Club Social, Honey Maid, Enjoy Life Foods, Mikado, Newtons, Nutter Butter, Premium, and Prince.

Nestle S.A. is a leading food beverage company. The company operates in seven major segments: powdered and liquid beverages, water, milk products and ice cream, nutrition and healthcare, prepared dishes and cooking aids, confectionery, and pet care. It produces beverages, chocolates confectionery, culinary, chilled frozen food, milk-based products, ice creams, prepared dishes, and pharmaceutical products. Nestle operates globally, with a presence in Europe, the Americas, Asia, Oceania, and Africa. The company mainly operates through its subsidiaries and has 29 RD facilities worldwide.

Mars Inc. is engaged in the production and marketing of branded confectionery, snack foods, main meal foods, drinks, and pet care products. The company’s major business segments include chocolate, pet care, food, Wrigley gum and confections, drinks, and symbioscience. The strategic decisions made by the company are based on five principles: quality, responsibility, mutuality, efficiency, and freedom. The company is present in more than 74 countries, including Canada, the US, Japan, India, and Russia.

What is the current size of the global Cocoa and chocolate market?

Recent Developments:

1. In May 2022, Blommer chocolate partnered with DouxMatok (Israel/USA), a food tech company to launch chocolate and confectionery products.
2. In March 2022, Hershey Company, launched a crunch cookie chocolate spread in India for the consumer's breakfast.
3. In March 2021, Barry Callebaut opened its third factory in India. The new chocolate factory consists of an RD lab and assembly lines capable of manufacturing various needs of customers – international food manufacturers, local confectioneries, and semi-industrial bakers and patisseries.
4. In March 2021, Cargill has partnered with Nestlé to extend the Nestlé Cocoa Plan (NCP) to benefit its network of cocoa farmers in Sulawesi, Indonesia. Activities include three key NCP pillars: better farming, better lives, and better cocoa.