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.
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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.
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