Cocoa Nibs Market Size, Share & Trends Report

Cocoa Nibs Market Size, Share & Trends Analysis Report By Product (Conventional, Organic), By Application (Commercial, Household), By Region (North America, Europe, APAC, Central & South America, MEA), And Segment Forecasts, 2020 - 2027

  • Published Date: Aug, 2020
  • Base Year for Estimate: 2019
  • Report ID: GVR-4-68038-943-2
  • Format: Electronic (PDF)
  • Historical Data: 2016 - 2018
  • Number of Pages: 80

Report Overview

The global cocoa nibs market size was valued at USD 1.08 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 7.9% from 2020 to 2027. The growing application of cocoa nibs in the food and beverage sector owing to their raw, nutty, and rich chocolate flavor is projected to be a key factor for the market growth. Moreover, these crushed and roasted cocoa beans are a rich source of various minerals, fiber, proteins, and healthy fats, which help in reducing the occurrences of various chronic disorders, such as diabetes and cardiovascular diseases. These associated health benefits are expected to promote the utility of cocoa nibs as a healthy functional ingredient. Cocoa nibs are dried, roasted, fermented, and crushed cocoa beans, which not only find application in making premium chocolates, but also in the bakery and beverage sectors.

U.S. cocoa nibs market size

These roasted and crushed cocoa beans are naturally low in sugar and are a rich source of fibers, healthy fats, proteins, antioxidants, and minerals, such as iron, phosphorus, magnesium, and zinc. These nutritional properties are expected to attract buyers to maintain a healthy lifestyle. These crushed cocoa beans are loaded with potent plant compounds, including flavonoid antioxidants, such as procyanidins, catechin, and epicatechin. These flavonoids are associated with several health benefits as they reduce the risk of cardiovascular diseases and carcinogenic disorders. It has anti-inflammatory properties, controls the blood sugar, and helps to improve the immune response of the body.

Consumers are adding these nibs in the form of chocolates, frozen desserts, smoothies, oatmeal, and topping. Moreover, bakery manufacturers are using it in making bread and muffins and the food and beverage manufacturers are using it in making snacks, barbecue sauces, nut butter, flavored milk, lattes, and cappuccinos. These market trends are fueling the demand for healthy and delicious cocoa nibs at the global level.

Since the starting of the year 2020, the world is undergoing COVID-19 pandemic. In order to stop the spread of this deadly infectious disease, governments across the globe have imposed a strict lockdown in their respective countries in which people are not allowed to go outside their houses, even for shopping food. This has drastically surged the demand for nutritional products, which help in boosting the immunity of the human body. Such factors are expected to promote the scope of cocoa nibs as functional ingredients in various dishes and other nutritional items in the near future.

Product Insights

Conventional cocoa nibs held the largest share of more than 70.0% in 2019 and is anticipated to maintain the lead over the forecast period owing to an extensive range of products available at the global level. Moreover, its wide application lies in the commercial sector, where bakers and coffee shops largely use it in several products across the globe.

The organic cocoa nibs segment is expected to witness the fastest growth with a CAGR of 8.2% from 2020 to 2027 owing to the higher adoption of organic and natural foods among consumers across the globe. Consumers across the globe are increasingly adopting a healthy lifestyle, which is changing the food and beverages preference to low-sugar products with high nutritional as well as meditational values.

Application Insights

The commercial application segment held the largest share of more than 65.0% in 2019 and is expected to maintain the lead over the forecast period. The confectionery sector is the largest consumer of cocoa nibs while the bakery and beverage industries are among the fastest-growing segments in terms of usage. Manufacturers are actively introducing these nibs in various bakery products, including muffins, cookies, cupcakes, and bread, in order to enhance the flavor as well as bring out the rich chocolate flavor.

Global cocoa nibs market share

The household application segment is expected to register the fastest CAGR of 8.1% from 2020 to 2027. With the shifting consumers’ preference for a healthy lifestyle, nutritious and rich flavored products are increasingly adopted by the consumers. Over the past few years, people are using cocoa nibs for making smoothies, flavored milk, cakes, cookies, and they are also simply consumed as snacks. It adds a nutty and chocolatey note in food. Moreover, it is loaded with nutritional properties, which is opening a new scope in the household segment.

Regional Insights

North America was the largest regional market for cocoa nibs with a share of more than 30.0% in 2019. The U.S. is one of the largest consumers of chocolate in the North American market. An estimated 2.8 billion pounds of chocolate is consumed every year by the U.S. population. Manufacturers are increasing their chocolate production in the region owing to the increasing demand among consumers. For instance, in October 2018, Mars, Incorporated strategized to invest around USD 20 million in Mexico by 2022 to increase its production capacity in order to keep up with the demand for chocolate in the country.

Asia Pacific is anticipated to be the fastest-growing regional market with a CAGR of 8.6% from 2020 to 2027. The consumption of various types of chocolate is continuously increasing in the region owing to shifting consumers’ food preferences, improving lifestyles, and increasing disposable income in the region. With the presence of a large young population, chocolate and its related products are gaining traction in the region, which is further anticipated to open new avenues for the regional market over the forecast period.

Key Companies & Market Share Insights

The market is slightly fragmented owing to the presence of domestic as well as international players with a large product portfolio and wide customer reach across the globe. These manufacturers hold a significant market share in Europe, North America, and some parts of Asia. Over the past few years, the market for cocoa nibs has been increasing its foothold in emerging economies of Asia Pacific. Shifting retail models, along with changing consumer preferences, compel manufacturers to continuously adopt new strategies to combat the challenges they face. To retain and increase their customer base, manufacturers have been focusing on improving production techniques and constant product innovation to expand their product line that is more suitable for consumers looking to adopt a healthier lifestyle. Some of the prominent players in the cocoa nibs market include:

  • Barry Callebaut AG

  • Cocoa Family Farms

  • United Cocoa Processor, Inc.

  • Navitas Organics

  • Fine Cocoa Products Corporation

  • Sunfood

  • Viva Naturals

  • NOW Foods

  • Urban Platter

  • BMV International

Cocoa Nibs Market Report Scope

Report Attribute

Details

Market size value in 2020

USD 1.16 billion

Revenue forecast in 2027

USD 1.99 billion

Growth Rate

CAGR of 7.9% from 2020 to 2027

Base year for estimation

2019

Historical data

2016 - 2018

Forecast period

2020 - 2027

Quantitative units

Revenue in USD million and CAGR from 2020 to 2027

Report coverage

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

Segments covered

Product, application, region

Regional scope

North America; Europe; Asia Pacific; Central & South America; MEA

Country scope

U.S.; U.K.; Germany; France; China; India; Brazil

Key companies profiled

Barry Callebaut AG; Cocoa Family Farms; United Cocoa Processor, Inc.; Navitas Organics; Fine Cocoa Products Corporation; Sunfood; Viva Naturals; NOW Foods; Urban Platter; BMV International

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Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2016 to 2027. For the purpose of this study, Grand View Research has segmented the global cocoa nibs market report on the basis of product, application, and region:

  • Product Outlook (Revenue, USD Million, 2016 - 2027)

    • Conventional

    • Organic

  • Application Outlook (Revenue, USD Million, 2016 - 2027)

    • Commercial

    • Household

  • Regional Outlook (Revenue, USD Million, 2016 - 2027)

    • North America

      • The U.S.

    • Europe

      • The U.K.

      • Germany

      • France

    • Asia Pacific

      • China

      • India

    • Central & South America

      • Brazil

    • Middle East & Africa

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