GVR Report cover Cocoa Based Polyphenols Market Size, Share & Trends Report

Cocoa Based Polyphenols Market Size, Share & Trends Analysis Report By Application (Functional Foods, Functional Beverages, Dietary Supplements), By Region, And Segment Forecasts, 2022 - 2030

  • Report ID: GVR-4-68039-946-7
  • Number of Pages: 150
  • Format: Electronic (PDF)

Report Overview

The global cocoa based polyphenols market size was estimated at USD 82.4 million in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 5.8% from 2022 to 2030. Polyphenols are phytochemicals and micronutrients with antioxidant properties. These products offer several health benefits associated with the prevention of cardiovascular diseases, cancer, diabetes, neurodegenerative conditions, aging, and skin-related problems. Polyphenols also have an important prebiotic effect; they increase the ratio of beneficial bacteria in the gut, which is important for overall good health, weight management, and disease prevention.

U.S. cocoa based polyphenols market size, by application, 2020 - 2030 (USD Million)

Polyphenols are anticipated to grow primarily in the functional food market. They can be considered functional foods as they provide various health benefits beyond basic traditional nutrition. Growing consumer awareness regarding the health benefits associated with polyphenol consumption are projected to positively influence industry growth. Consumers are preferring drinks that are fortified with vitamins, minerals, probiotics, and other immunity-boosting ingredients. These beverages frequently boast the immune-boosting properties of ingredients such as ginger and turmeric in order to gain the attention of consumers. These factors have been driving demand for functional foods and beverages that aid in boosting immunity.

Recent innovations in the industry have proven the benefits of cocoa in dietary supplements owing to the presence of high content of polyphenols in it. The consumption of cocoa based polyphenol-infused supplements helps in lowering blood pressure and improving insulin sensitivity among users. This, in turn, contributed to the surged demand for cocoa based polyphenols for use in nutritional food or supplements over the past few years. The COVID-19 pandemic has resulted in an immediate concern among consumers regarding overall health and wellbeing and prompted people to look for healthy alternatives in food and beverages in order to boost immunity. Functional beverages offer high nutrient value, which helped boost their demand during the pandemic. Since the outbreak of the COVID-19 pandemic, people have become more focused on their health and well-being than ever before.

Application Insights

The functional beverages segment dominated the market for cocoa based polyphenols and accounted for the largest revenue share of 32.7% in 2021. This is attributable to the notable surge in beverages companies that is designed specifically for cardiovascular protection. Growth in the global functional beverage industry is a major factor driving the market as they provide overall nutrition and well-being to consumers. Functional food products are usually sold at higher prices and offer larger profit margins than conventional food products, thus making them attractive for several manufacturers. Moreover, the retail prices of functional food products are generally 30% more than conventional food products. For emerging economies of Asia Pacific and Central and South America, opportunities in the functional foods sector are expected to result from flourishing domestic markets and increasing export possibilities to developed economies of North America and Europe, as well as Japan.

Functional food offers particular health benefits such as strengthening of the immune system, improved mental energy, improved heart health, improved bone health, cholesterol management, and other benefits related with ophthalmology, among others. Owing to the hectic lifestyles of people and rising awareness of health benefits for these nutrient-enriched foods, is projected to drive the market for cocoa based polyphenols. Several government bodies have favorably regulated the functional food products in different regions, resulting in lucrative opportunities for their production and distribution. Brazil and China have progressive regulatory frameworks for the authorization of functional food products and their promotion. Russia has announced agriculture and rural development regulations, while India and Peru are still to frame these regulations.

Technology update and progression in product adoption has propelled functional beverage manufacturers to formulate application specific products. The development of various new ingredients to cover the unpleasant taste of specific omega-3 fatty acids and amino acids has revolutionized the functional beverages industry. The growth of this industry is expected to drive the growth of market for cocoa based polyphenols during the forecast period. Dietary supplements have become increasingly popular among consumers seeking natural solutions to various health ailments. Natural supplements, are the preferred way of treating a variety of gut health issues and gastrointestinal conditions, along with strengthening the immunity of consumers.

Regional Insights

Asia Pacific dominated the cocoa based polyphenols market and accounted for the largest revenue share of 35.4% in 2021. This is attributed to the surging demand for plant-based food products owing to the rising awareness regarding their health benefits among consumers. This is a key factor that is expected to pave the way for cocoa based polyphenols, in terms of value sales, in the Asia Pacific region, especially in India, China, Australia, and Indonesia, during the forecasted years.

Global cocoa based polyphenols market share, by region, 2021 (%)

There is a growing, commercial interest in functional food products among European consumers, which could be tapped by local as well as regional players, especially regional and national suppliers of ingredients and other food products. This is further expected to boost the European functional foods market, which will, in turn, contribute to the demand for cocoa based polyphenols. The increasing number of health-conscious consumers, who are opting for dietary supplements and food products rich in functional and nutritional ingredients is expected to fuel the demand for cocoa based polyphenols in North America. Moreover, the presence of large companies such as Sabinsa Corporation and ADM, who are actively exploring their potential in the functional food products and beverages arena, is also anticipated to lead to the growth of market for cocoa based polyphenols in North America over the forecast period.

In some countries of Central and South America, though the importance is given to efficacy and safety aspects of diet, it’s functional and health benefit claims are required to undergo scientific validation as well. This has led to any manufacturers of functional food products and beverages and dietary supplements, thereby generating considerable awareness toward these products in the region. The aforementioned factors are thus, anticipated to provide ample opportunities for the growth of market for cocoa based polyphenols in Central and South America in the long run.

The Middle Eastern region has been emerging as a pool of high-spending customers due to its rising middle-class population and industrial growth. Being a largely unorganized and fragmented market, the region is offering immense growth opportunities to both domestic as well as international food processing companies. A rapid transition, in terms of nutrition, has been observed in the region, marked by a shift away from a traditional, more varied, and more seasonal diet rich in fruits, vegetables, and whole grains, toward a westernized diet high in animal protein, refined carbs, and other foods.

Key Companies & Market Share Insights

The market for cocoa based polyphenols is competitive in nature; wherein the competition is highly dependent upon the strategies applied by key market players to gain a competitive edge over others. Key players are engaged in constant development and expansion of their manufacturing units and processes to meet the growing demand for products containing a high concentration of polyphenols. Industry participants have undertaken various strategic initiatives such as production capacity expansion, diversified product portfolio, mergers and acquisitions, and disinvestments to mark their presence in the market. The market is characterized by the presence of a few big players such as ADM, Sabinsa Corporation, Naturex, and Berkem. These players are among the top manufacturers of polyphenols and cater to the growing demand from various end-use industries such as food and beverage, healthcare, personal care products, pharmaceutical, and nutraceuticals. Some of the prominent players in the cocoa based polyphenols market include:

  • ADM

  • Barry Callebaut

  • Kemin Industries

  • Mars, Incorporated

  • Naturex S.A

  • Nutra Ingredients Limited

  • Polyphenols AS

  • Ajinomoto NaturalSpecialities

  • Sabinsa, BERKEM

  • Diana Food

Cocoa Based Polyphenols Market Report Scope

Report Attribute

Details

Market size value in 2022

USD 87.0 million

Revenue forecast in 2030

USD 136.8 million

Growth Rate

CAGR of 5.8% from 2022 to 2030 in terms of revenue

Base year for estimation

2021

Historical data

2018 - 2020

Forecast period

2022 - 2030

Quantitative units

Volume in tons, revenue in USD thousand, and CAGR from 2022 to 2030

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

 Application, region

Regional scope

North America; Europe; Asia Pacific; Central & South America; Middle East & Africa

Country Scope

U.S.; Canada; Mexico; Germany; France; U.K.; Italy; China; Japan; India

Key companies profiled

ADM; Barry Callebaut; Kemin Industries; Mars Incorporated; Naturex S.A; Nutra Ingredients Limited; Polyphenols AS; Ajinomoto NaturalSpecialities; Sabinsa; BERKEM; Diana Food

Customization scope

Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.

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Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For the purpose of this study, Grand View Research has segmented the global cocoa based polyphenols market report based on application and region:

  • Application Outlook (Volume, Tons; Revenue, USD Thousand, 2018 - 2030)

    • Functional Foods

    • Functional Beverages

    • Dietary Supplements

    • Others

  • Regional Outlook (Volume, Tons; Revenue, USD Thousand, 2018 - 2030)

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • France

      • U.K.

      • Italy

    • Asia Pacific

      • China

      • Japan

      • India

    • Central & South America

    • Middle East & Africa

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