Gourmet Cocoa: Market outlook

The concept of “premiumization” is persuading the cocoa industry at large, ranging beyond pricing to include incredible quality and a grander experience. Premiumization has fueled customer opinion for high quality and value-added products with the right quality ingredients that have potential health benefits and cocoa industry has not remained untouched.

Gourmet cocoa is catching eye of food and beverage giants and millennial consumers. Gourmet cocoa is richest and finest cocoa made with selective cocoa beans and high quality ingredients to provide consumers with indulgence and superior taste flavours.

Brands are gaming around customization and personalization to target future growth in better-for-you gourmet cocoa category. Strong label game, attractive packaging, unique ingredients, and authentic flavours is proliferating the market growth for gourmet cocoa.

Premiumization Digs in the Indulgence Category

Craft producers and artisan products along with products furnishing health-conscious consumers are anticipated to gain ground in sales. Gourmet cocoa is branded and sold as an artisan product and thus is gaining popularity in modern times. Gourmet cocoa offerings especially those focused on sugar-free, gluten-free, and keto-friendly traits are caching hold of wider consumer base.

Hot gourmet cocoa beverages are new go-to-drink of consumers. Consumers are regularly consuming gourmet cocoa drinks in day-to-day life to experience moderate to intense bittersweet cocoa flavor and chocolate taste to have grander taste experience.

Increasing consumer spending, growing numbers of specialty stores, and rising premiumization trends are expected to fuel the demand for gourmet cocoa.

Global Gourmet Cocoa: Market Segmentation

On the basis of nature, global Gourmet Cocoa can be segmented as:-

  • Organic
  • Conventional

On the basis of product type, global Gourmet Cocoa can be segmented as:-

  • Dutch
  • Natural

On the basis of format, global Gourmet Cocoa can be segmented as:-

  • Sweetened
  • Unsweetened

On the basis of packaging, global Gourmet Cocoa can be segmented as:-

  • Pouches
  • Wrapper
  • Bag
  • Tin
  • Carton

On the basis of distribution channel, global plant-based chicken can be segmented as:-

  • B2B
  • B2C
    • Store-based Retailing
      • Modern Groceries
      • Discount Stores
      • Convenience Stores
      • Traditional Groceries
      • Food & Drink Specialty Stores
    • Online Retailing

Global Gourmet Cocoa: Key Players

There is an increasing concentration in the global cocoa supply chain. Both on the vertical and horizontal levels, many of the cocoa and chocolate manufacturers have seen mergers & acquisition / takeovers by the competitors. The key traders & grinders control approximately three quarter of the world cocoa trade.  This concentration shall further weaken the farmer’s position, making the asymmetry in the favor of buyers and traders of gourmet cocoa.

Some the key players operating their business in the global Gourmet Cocoa market are Gourmet Food World, LLC., Indulgent Foods, Grand Marceline Company, Fazenda Coffee Roasters, Kerry Group Plc., Godiva, Ghirardelli , DaVinci Gourmet,  Boca Java, and Holy Chocolate, among others

  • In the year 2017, Barry Callebaut expanded its Gourmet offerings in China to meet the demand for chocolate in fast-growing segment of professional users

Opportunities for Gourmet Cocoa Market Participants:

Consciousness and carefulness regarding consumption have led to the requirement of transparency in products. Consumers are now asking companies to increase the transparency of their products, going past ingredients, quality status, and nutritional levels. This is motivated by the buyer's rising demand to understand the product’s circumstantial – from how and where the ingredients were obtained, till the manufacturing of the finished product. Gourmet cocoa manufacturers thus should keep in mind the clean label demand of consumers.

Gourmet cocoa is anticipated to witness a growing demand from Asia Pacific owing to increasing consumers demand for premium and gourmet food category and increasing consumer spending on premium food products.

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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