Cacao Extracts Market Scenario Highlighting Major Drivers & Trends, 2019-2029
With growing awareness about healthy living along with concerns related to healthy food intake, the cacao extracts market is witnessing active growth. Due to the potential health benefits related to cacao extracts, it also finds many applications in industries, such as pharmaceuticals, personal care and cosmetics. Cacao extracts are obtained from cacao beans and have been used historically to enhance the flavor in chocolate formulations. In the food and beverages industry, cacao extracts vendors are focusing on using ingredients that have a high nutritional profile and also allows vendors to manufacture using cost-effective techniques. This has been the most important factor that has been complementing the growth of global cacao extracts market. More number of countries are utilizing cacao extracts. Preference of consumers for new flavors and the ever increasing demand for chocolate products are some of the factors that is attributed to forward the cacao extracts market. This is likely to create opportunities for vendors related in the production of cacao extracts to expand its distribution network and provide a variety of cacao bean extracts.
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Cacao Extracts Market Key Players
The cacao extracts market is characterized by the presence of a large number of regional companies offering a variety of products. These companies device various strategies, such as offering valuable and competitive cacao extracts to suit every need. In 2016, Nutarex collaborated with Barry Callebaut to launch the first cacao extract product largely for the cardiovascular health supplement market. In 2014, Nutegrity launched an organic cacao extract named “CacaoNol” containing the anti-oxidizing property of chocolate and can be utilized by several pharmaceutical and food & beverage industry to develop contemporary products.
Some of the key players in the cacao extracts market are: Van Aroma, Bioriginal Food & Science Corporation, Kerry Incorporated, The Green Labs, John Aromas, Ambe Phytoextracts Pvt. Ltd, PROVA SAS, Panacea Phytoextracts Pvt. Ltd, CPC Ingredients, Haldin, Indo-World and Tharakan and Company.
The research report presents a comprehensive assessment of the cacao extracts market and contains thoughtful insights, facts, historical data and statistically supported and industry validated market data. It also includes projections using a suitable set of assumptions and methodologies. The research report of the cacao extracts market provides analysis and information according to the different market segments such as product form, nature, end use industry, sales channel and region.
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Cacao Extracts Market Dynamics
Cacao extracts have long gained traction in the pharmaceutical industry and the food and beverage industry in particular. Health conscious consumers are focusing on the usage of nutritional food products that contain a high shelf life and cacao extracts meet such requirements. The scientific data related to cocoa bean extracts have boosted its usage in the pharmaceutical industry as it contains several health benefits. Several vendors are focusing on the development of pharmaceutical products that utilizes cacao bean extracts in the form of tablets and capsule. However, due to unfavorable weather conditions that are affecting the yield and quality of cacao beans, which could stagnate the cacao extracts market. In 2017, the overall cacao extract production in Ghana was distressed due to mixed weather circumstances, which has increased the overall cost price of cacao extracts. The increase in prices of cacao beans extract is likely to hamper the demand and supply conditions of various products and is expected to restrict the growth of global cacao extracts market.
Cacao Extracts Market Regional Overview
Presently, Latin America holds the maximum share in the overall cacao extracts market. The tropical climate of Latin America favors the production of cacao in general and increases the production of cacao extracts. Apart from Latin America, South Asia and Africa ranks second in the production of cacao extracts due to the warm and humid climate. Regions like North America and Europe lag behind in the production of cacao extracts as the climate of North America and Europe do not support the growth of cacao extracts.
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