Market Outlook

Cocoa enhancers are compounds that are added to food and beverages to supplement the natural cocoa flavor. Cocoa has a unique position in the flavors industry due to its soft melt?in?the?mouth and unique sensory properties. The cocoa aroma is contributed by various compounds, including the non-volatile and volatile chemical components. Various technological enhancements have been done to enhance the cocoa flavor, combining chemical, physical and biological factors of multiple cocoa alternatives. Cocoa enhancers are gaining traction due to their use in healthy foods and specifically, among children, who prefer chocolate to cocoa flavors.

Cocoa enhancers are low-cost cocoa substitutes offering similar flavor, quality and nutrition as that of cocoa. One of the biggest advantages of Cocoa enhancers is that their thermal stability, strength and flavor impact is identical to that of cocoa. Europe followed by North America is projected to dominate the cocoa enhancers market, in terms of consumption, due to higher concentration base of cocoa end-use industries. Among various end-uses of cocoa enhancers, chocolate and confectionery are projected to drive high demand for cocoa enhancers over the forecast period. Chocolate processing is concentrated in European countries, mainly the Netherlands, which will be a potential country for the use of cocoa enhancers.

Reasons for Covering this Title

A rise in demand for overall cocoa alternatives due to increasing cocoa prices and fluctuating supply of cocoa annually is expected. Between 2010 and 17, world’s cocoa production grew at the rate of 0.99%, while world cocoa grindings increased at the rate of 1.16%, indicating a supply-demand gap for cocoa, which has compelled end-use industries using cocoa as an ingredient to look for cocoa alternatives, including cocoa enhancers. Africa holds nearly 72% of world’s cocoa production share and indicates higher supply concentration. This scenario also has encouraged distant countries to utilize their existing natural and synthetic ingredients as cocoa enhancers which are compatible with the intended product applications.

Global Cocoa Enhancers: Market Segmentation

On the basis of Source, the Global Cocoa Enhancers market has been segmented as –

  • Natural
  • Synthetic

On the basis of Nature, the Global Cocoa Enhancers market has been segmented as –

  • Organic
  • Conventional

On the basis of End-Use, the Global Cocoa Enhancers market has been segmented as –

  • Chocolate & Confectionery
  • Dairy Beverages
  • Bakery & Snacks
  • Frozen Desserts
  • Others

Global Cocoa Enhancers Market: Key Players

Some of the key players operating in the global Cocoa Enhancers market are Chefs Flavours Ltd, Charkit Chemical, PureCircle, Signature Flavors, Flavor Dynamics, Inc., Weber Flavors and Taytonn, among others.

Opportunities for Market Participants

Changing consumption patterns along with growing demand for cocoa alternatives has opened opportunities for cocoa enhancers. This scenario has encouraged various food and beverage ingredient companies to introduce innovative products including cocoa enhancers to meet consumer demand for cocoa flavor. Additionally, growing consumer demand for lower-fat and low-sugar content ingredients for cocoa-end use products will also have a positive impact on the cocoa enhancers market.

Innovation in processing technology will further enable cocoa enhancer manufacturers to adopt various raw materials with a broader range of flavors, textures, along with higher acceptability by consumers. Cocoa enhancer manufacturers are also focusing on specific country and regional profiles to launch products aligned with regional demand. In-depth consumer research is carried by cocoa enhancer manufacturers to understand the emerging flavor profiles. Clean labeling of products might limit the growth of the cocoa enhancer market to an extent as consumers prefer natural ingredients.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Cocoa Enhancers Market

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