The North America Alkalized Cocoa Powder Market would witness market growth of 3.3% CAGR during the forecast period (2023-2030). In the year 2019, the North America market's volume surged to 1,71,093.7 Tonnes, showcasing a growth of 3.7% (2019-2022).
The rising demand for cocoa-based products, including chocolates, beverages, and baked goods, is a significant driver for market growth. The increasing popularity of premium and artisanal chocolate products, as well as the expanding food and beverage industry in emerging markets, are also significant drivers contributing to the projected market growth. The remarkable increase in the global food and beverage industry, especially in emerging markets, holds great potential for driving market growth.
Emerging markets are experiencing increased urbanization and rising disposable incomes, leading to shifts in dietary preferences towards premium and indulgent food products. This trend aligns with the attributes of alkalized cocoa powder, which is known for its ability to impart rich and intense cocoa flavours, deep colour, and smooth texture to various culinary creations.
The increasing consumer preference for premium and artisanal chocolate products has significant benefits driving market growth. Firstly, premium chocolates place a strong emphasis on using high-quality ingredients, and cocoa powder is a primary ingredient that greatly influences the flavour and quality of the end product. This focus on quality elevates the demand for superior cocoa powder, particularly alkalized varieties known for their enhanced flavour profiles.
North America has a robust and growing chocolate industry, including chocolate bars, truffles, candies, and chocolate-coated snacks. The bakery and pastry industry in North America has seen a surge in demand for high-quality chocolate-flavoured products. This is used in the production of various baked goods. North America has rising in craft and artisanal chocolate makers who use this to create unique and distinctive chocolate products. The premium quality and rich flavour suit these niche and gourmet offerings. The above aspects will expand the market growth across the region in the upcoming years.
The US market dominated the North America Alkalized Cocoa Powder Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $612.2 million by 2030. The Canada market is experiencing a CAGR of 5.6% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 4.7% during (2023 - 2030).
Based on Source, the market is segmented into Conventional, and Organic. Based on Application, the market is segmented into Food & Beverages (Bakery & Confectionery, Beverages, Spreads, Dairy Products, Syrup, and Others), Cosmetics, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Alkalized Cocoa Powder Market is Predict to reach $3 Billion by 2030, at a CAGR of 3.7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include The Barry Callebaut Group, Olam Group Limited (Temasek Capital), INDCRE, S.A., ECOM Agroindustrial Corp. Limited, JB Foods Limited, Cargill, Incorporated, Ciranda, Inc., Moner Cocoa, S.A., Bunge Limited, and Archer Daniels Midland Company.
By Source (Volume, Tonnes, USD Billion, 2019 to 2030)
By Application (Volume, Tonnes, USD Billion, 2019 to 2030)
By Country(Volume, Tonnes, USD Billion, 2019 to 2030)
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