Cocoa Nibs Market: Introduction:
Cocoa nibs are the purest form of chocolate. The dried and fermented bits form of cocoa beans are the cocoa nibs. There is a lot of similarity between the texture of cocoa nibs and roasted coffee beans. The chocolate flavor of the cocoa nibs is bitter and nutty. Raw cocoa nibs are chocolate beans with less processing and they do not contain any additives, thus contain all the nutrients of the cocoa bean.
The cocoa nibs have various health benefits, such as improved insulin sensitivity, reduced risk of heart disease, stabilized blood sugar, anti-cancer, and anti-depressing agent. Along with these health benefits, the cocoa nibs are a great source of iron, antioxidants, magnesium, and fiber.
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Cocoa Nibs Market: Market Dynamics
In recent years, the demand for cocoa incorporated products is increasing owing to the health benefits of the cocoa beans. The chocolate is one of the favorite flavors in many of the dessert preparations. The chocolate and cocoa incorporated products attract consumers faster than any other flavored dessert. The nutritional quotient and medicinal properties of the cocoa nibs are the factors that are increasing the demand for cocoa nibs across the globe.
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Cocoa Nibs Market: Market Segmentation
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Cocoa Nibs Market: Key Players
The market participants operating in the global cocoa nibs market are identified across the value chain include Navitas Organics, Adam Vacon, Edica Naturals Ltd, Viva Naturals, Sunfood Corporation among the other cocoa nibs manufacturers.
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Cocoa Nibs Market: Regional Outlook
The cocoa nibs have the highest demand for frozen desserts. The countries having the largest share in the consumption of frozen desserts have the largest demand for cocoa nibs. The U.S. is the largest consumer of frozen dessert, and thus it also holds the top rank in the highest demand for cocoa nibs.
The ice cream industry in the U.S. is the largest producer of various frozen desserts in the world. This has increased the demand for cocoa nibs in the U.S. market. Along with that, the consumers also give preference to the products that are incorporated with cocoa nibs over other fruit flavored products. These factors are anticipated to increase the demand for cocoa nibs in the leading frozen dessert manufacturing countries such as the U.S.
Key Opportunities in Global Cocoa Nibs Market
Owing to the rising demand for organic products, the demand for organic cocoa nibs is increasing across the globe. There has been a rise in demand for cocoa nibs from the household segment which is attributable to the health benefits associated with its consumption.
Moreover, the manufacturers are coming up with retail formats cocoa nibs in the market due to the rise in demand for the product. Cocoa nibs are generally being used as sweeteners as well as toppings in frozen desserts such as yogurts, ice creams, and smoothies.
Due to its large scale application in frozen desserts, the demand for cocoa nibs is anticipated to increase form the larger frozen dessert manufacturers. With the increasing trend of homemade dessert, the demand for cocoa nibs is increasing from the consumers for the preparation of homemade desserts. These factors are creating lucrative opportunities for the key players in the global cocoa nibs market.
COVID-19 Impact on Global Cocoa Nibs Market
The world is battling against the widespread of the coronavirus disease outbreak. The major sectors and industries are suffering from losses, which is ultimately impacting the global economy. The food and beverage sector is also witnessing a downward trend in the growth rate across the globe.
The food processing industry is also getting hampered owing to the disturbed supply chain. The steady supply of raw materials is the toughest challenge for the food processing market players.
The markets depend on the cocoa nibs are also getting affected due to the irrupted supply of cocoa nibs. The demand for premium frozen deserters is also impacted by the COVID-19, which is also impacting the demand and revenue of the global cocoa nibs across the globe.