Cocoa nibs are the fermented and dried bits form of cocoa beans. They are chocolate’s purest form. The cocoa nibs’ chocolate flavor is nutty and bitter. There is a lot of resemblance between the texture of roasted coffee beans and cocoa nibs. The cocoa nibs have a number of health advantages, like decreased heart disease risk, enhanced insulin sensitivity, anti-cancer & anti-depressing agent, and stabilized blood sugar. Apart from these, it is also a rich source of antioxidants, iron, fiber, and magnesium.
Owing to a plethora of health benefits of cocoa beans, the demand for cocoa-fused products has seen an upsurge in recent years, which is one of the prominent growth factors for growth of global cocoa nibs market. Further, the demand among consumers for chocolate products in bakery items, beverages, hygiene products, and personal care has increase resulting in positive traction to the global market expansion. Additionally, the rising natural cocoa nibs’ demand is projected to offer ample growth avenues for the cocoa nibs market players. It is widely utilized to improve the aroma among personal care & cosmetic products and food products. Also, the escalating demand among people for premium products, particularly, dark and ruby chocolates, the market will witness substantial growth during the coming period.
The global cocoa nibs market can be segregated on the basis of category, distribution channel, and region. The market, based on distribution channels, is divided into store-based and non-store-based. The store-based segment is further sub-segmented into hypermarkets & supermarkets, convenience stores, and others. The market, based on category, is categorized into conventional and organic.
Regionally, the global cocoa nibs market is projected to be ruled by Europe during the forecast period with biggest share owing to factors such as the growing consumption and demand for chocolates among consumers in this region. Further, the second position is likely to be held by North America. With the escalating demand from customers, production of chocolate has been increased by the prominent players in this region. To cite, Mars, Inc., in October 2018, planned to invest about USD 20 million by 2022 in Mexico to boost its production capability to correspond to the chocolate demand in the country. Even Asia Pacific is expected to witness considerable market demand with developing countries like China and India being the key growth contributors. There has been an increase in number of cocoa nibs market merchants in these countries thereby fueling the regional market expansion.
The prominent players active in the global cocoa nibs market consist of Sunfood Corporation Adam Vacon, Navitas Organics, Viva Naturals, and Edica Naturals Ltd, among others.
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