PUBLISHER: Grand View Research | PRODUCT CODE: 1571718
PUBLISHER: Grand View Research | PRODUCT CODE: 1571718
The global cocoa beans market size is expected to reach USD 23.54 billion by 2030 registering a CAGR of 8.4%, according to a new report by Grand View Research, Inc. Growing popularity of cocoa beans as polyphenolic functional ingredient on account of their health benefits, such as reduced inflammation and risk of Cardiovascular Diseases (CVDs), better blood circulation, and improved cholesterol levels, is projected to remain a favorable factor. Furthermore, increasing usage of organic personal care products due to their long-lasting skin care benefits is expected to boost the demand for cocoa beans in the cosmetics sector, thereby driving the global market.
Increasing usage of cocoa butter as functional ingredient in the formulation of chocolates is also expected to be one of the key factors augmenting market growth. In addition, new product launches in premium categories including dark chocolate by major confectionery firms like Mondelez International, Inc. is projected to expand the application scope of the product, thereby supporting market growth. On the other hand, pharmaceuticals is expected to remain the fastest-growing application segment from 2024 to 2030.