IMARC Group, a leading market research company, has recently releases report titled “Nigeria Cocoa Processing Market Report by Bean Type (Forastero, Criollo, Trinitario), Product Type (Cocoa Butter, Cocoa Liquor, Cocoa Powder, and Others), Application (Confectionary, Bakery, Beverages, Pharmaceuticals, and Others), 2023-2028.” The study provides a detailed analysis of the industry, including the Nigeria cocoa processing market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights
How big is the Nigeria cocoa processing market?
The Nigeria cocoa processing market is expected to exhibit a growth rate (CAGR) of 6.76% during 2023-2028.
What is cocoa processing?
Cocoa bean is a seed of the cocoa tree used to produce cocoa-based products through various methods, such as farming and pod storage. It can be dried using different drying methods to prevent deterioration from bacteria. It is crushed or chopped into pieces to prepare salad dressings and ice cream toppings. It reduces bitterness, helps produce chocolate flavor, and removes the mucilaginous coating to allow the cotyledons to expand. It is a rich source of magnesium, which assists in catalyzing protein synthesis and energy production. Cocoa bean also improves cognitive health, strengthens the immune system, reduces the side effects of radiation therapy, and lowers the risk of heart attack, stroke, and diabetes. It is converted into various forms, such as cocoa powder, cocoa butter, and cocoa liquor, via cocoa processing. Cocoa processing comprises cleaning, fermenting, drying, roasting, winnowing, nib grinding, alkalization, and liquor pressing of cacao beans. At present, it is widely utilized in the food and beverage (F&B), pharmaceutical, and cosmetics industries across Nigeria.
Request for a sample copy of this report: https://www.imarcgroup.com/nigeria-cocoa-processing-market/requestsample
What are the growth prospects and trends in the Nigeria cocoa processing industry?
Currently, the rising awareness of the benefits of cocoa among the population of Nigeria is a key factor contributing to market growth. These benefits include mood enhancement, improved glucose metabolism, increased protein synthesis and energy production, as well as iron transportation. Additionally, there is a growing demand for premium and high-quality cocoa in the country. This, along with the increased demand for cocoa-based products such as cakes, ice creams, shakes, and chocolates, contributes to a positive market outlook. Moreover, the adoption of cocoa for treating ailments such as diarrhea, asthma, bronchitis, lung congestion, liver, bladder, and kidney issues is also driving market growth in Nigeria.
Furthermore, the favorable climatic conditions in Nigeria have led to an increase in cocoa production, adding to the market's positive influence. Nigeria is a significant exporter of premium quality raw cocoa, known for its aromatic nature and smoother flavors. This, combined with the widespread availability of cocoa products through offline and online distribution channels, including the thriving e-commerce industry, has accelerated the demand for cocoa processing in the country. Additionally, the use of cocoa in skincare products such as face washes, creams, lotions, and lip balms has further strengthened market growth. Lastly, the escalating demand for cocoa butter in the production of soaps and cosmetic products is also contributing to the market's expansion.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Bean Type:
Forastero
Criollo
Trinitario
Breakup by Product Type:
Cocoa Butter
Cocoa Liquor
Cocoa Powder
Others
Breakup by Application:
Confectionary
Bakery
Beverages
Pharmaceuticals
Others
Note: If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC Group’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Contact US
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
USA: +1-631-791-1145 | Asia: +91-120-433-0800
Email: sales@imarcgroup.com
Follow us on Twitter: @imarcglobal