Vertical: CFnBBase Year: 201811 Sections
Market Size (2018)
$950.70M
Projected (2025)
$1.31B
CAGR (2017–2025)
4.6%
Key Players
10+
The global cocoa nibs market has been growing at a significant rate over the past few years. The demand for the cocoa nibs is anticipated to be driven by the rising use in several applications as a topping. Moreover, cocoa offers several health benefits, which is expected to drive the growth of the cocoa nibs market at the global level. However, the fluctuating prices of cocoa beans are projected to restrict the growth of the global cocoa nibs market during the forecast period of 2019 to 2025.
The Cocoa Nibs Market market is projected to grow at a CAGR of 4.6% from 2017 to 2025.
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View Subscription PlansCocoa nibs are crushed cocoa beans having a bitter, chocolatey flavor. They are produced through the Theobroma cacao tree, also called cocoa tree. Cocoa nibs are loaded with antioxidants and offer several health benefits. The antioxidants help in increasing immunity, controlling blood sugar level, and improving heart health.
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View Subscription PlansResearch Process
Wantstats analysis is based on interviews with industry experts who offer insight into the market structure, market segmentation, technology assessment, competitive landscape (CL), market penetration, as well as the emerging trends. Besides primary interviews (~80%) and secondary research (~20%), their analysis is based on years of professional expertise in their respective industries. Our analysts also predict where the market will be headed in the next five to 10 years, by analyzing historical trends and the current market position. Furthermore, the varying trends in segments and categories in each region are studied and estimated based on primary and secondary research.
Primary Research
Extensive primary research was conducted to gain a deeper insight into the market and the industry performance. For this particular report, we have conducted primary surveys (interviews) with the key level executives (VPs, CEOs, marketing directors, and business development managers, among others) of the major players active in the market. In addition to analyzing the current and historical trends, our analysts predict where the market is headed in the next five years.
Secondary Research
Secondary research was mainly used to collect and identify information useful for an extensive, technical, market-oriented, and commercial study of the global cocoa nibs market. It was also used to obtain key information about major players, market classification and segmentation according to industry trends, geographical markets, and developments related to the market and technology. For this study, analysts have gathered information from various credible sources such as annual reports, SEC filings, journals, white papers, corporate presentations, company websites, international organizations, and paid databases.
Market Size Estimation
Both, top-down and bottom-up approaches were used to estimate and validate the size of the market and to estimate the size of various other dependent submarkets of the global cocoa nibs market. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research. This entire procedure included the study of the annual and financial reports of top market players and extensive interviews for key insights with industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources. All the possible parameters that affect the market have been covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. This data has been consolidated and added with detailed inputs and analysis from Wantstats and has been presented in this report.
Base Year
2018
Historical Period
2017 – 2017
Forecast Period
2019 – 2025
Primary Interviews
150+
Historical data (2017–2018) and forecast period (2018–2025)
Our research process spans primary interviews with industry stakeholders combined with comprehensive secondary data analysis, validated through triangulation across multiple independent sources.
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View Subscription PlansThe global cocoa nibs market is highly competitive with key industry players focusing on various strategies such as product launches, partnerships, and expansions to strengthen their market positions. Most companies in the market are focused on expanding operations across regions, augmenting their capabilities, and building strong partner relations. The growth of the market players is dependent on market conditions, government support, and industry development. Thus, the vendors should focus on expanding geographically and improving product quality. Barry Callebaut AG, Cocoa Family Farms, Santa Barbara Chocolate, NOW Health Group Inc., Fine Cocoa Products Corporation, Sunfood Corporation, Viva Naturals, Navitas LLC, Nutrisure Ltd, and United Cocoa Processor, Inc. are the major companies in this market, who compete based on market presence, quality, and price.
The key players are taking steps toward business expansions and market development, thereby expanding their customer base. The international players may strengthen their presence worldwide through acquisitions during the review period. It has also been forecast that improvements in the global economic scenario and the growing confectionery industry in emerging nations would drive market growth, making it an ideal time for players to launch new products and increase their global market shares.
THREAT OF NEW ENTRANTS
The global cocoa nibs market is expected to be lucrative owing to the rising demand for cocoa nibs in households. The manufacturing of cocoa nibs is mainly adopted as a secondary function by most of the prominent market players in the chocolate industry. The manufacturing of cocoa nibs does not require high investments as the equipment used is not very costly. Thus, new players do not hesitate to diversify their businesses to include cocoa nibs. However, the growing demand for cocoa nib substitutes and the implementation of stringent regulations across the globe are limiting the number of new entrants in the market.
Hence, the threat of new entrants in the global cocoa nibs market is expected to be moderate.
BARGAINING POWER OF SUPPLIERS
The major raw material for cocoa nibs is cocoa beans. Suppliers of cocoa beans have leverage due to the fluctuating raw material prices and gap in the supply and demand for cocoa beans. Additionally, region-specific cultivation of cocoa compels cocoa nibs manufacturers to rely on the import of cocoa beans, resulting in increased raw material prices. Market players enter into partnerships with farmers supplying cocoa in order to ensure a continuous supply; however, this has minimal impact on the bargaining power.
Hence, the bargaining power of suppliers in the global cocoa nibs market is expected to be high.
BARGAINING POWER OF BUYERS
The buyers are the major governing factor controlling the market. It is a perfect competition market with the presence of numerous market players and a large customer base. The switching costs for the buyers is very low in the market due to the availability of various substitutes. There is limited product differentiation in the global cocoa nibs market, enabling customers to switch from one brand to another, thus, lowering brand loyalty as well.
Hence, the bargaining power of buyers in the global cocoa nibs market is expected to be high.
THREAT OF SUBSTITUTES
There are several substitutes of cocoa nibs available in the global market such as chocolate liqueur, unsweetened baker’s chocolate, chocolate powder, and chocolate chips. Depending on the use and availability, consumers can substitute cocoa nibs with any of these products. Additionally, the high availability of these substitutes in the global market reduces the switching cost for consumers, thus, threatening the sale of cocoa nibs.
Hence, the threat of substitutes in the global cocoa nibs market is expected to be high.
INTENSITY OF RIVALRY
The global cocoa nibs market is marked by a high intensity of rivalry due to the presence of numerous local and global players. The established players in the market are targeting competitors in terms of quality, product packaging, and price, thus making the industry competitive. There is a high level of competition among market players as no single player is completely focused on cocoa nibs. Market players are focusing on strategic expansions to enter new markets and increase their customer base.
Hence, the intensity of rivalry in the global cocoa nibs market is expected to be high.
Market estimates by geography (2025)
InsightEurope leads with $503.80M by 2025, while Asia Pacific is projected to grow fastest at a 5.2% CAGR.
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View Subscription Plans| REGION | 2017 | 2018 | 2025 | CAGR | SHARE |
|---|---|---|---|---|---|
| Middle East and Africa | $44.20M | $52.40M | $62.60M | 4.4% | 5% |
| North America | $311.80M | $370.70M | $445.40M | 4.6% | 34% |
| Asia Pacific | $133.50M | $162.80M | $200.10M | 5.2% | 15% |
| Europe | $356.20M | $421.60M | $503.80M | 4.4% | 39% |
| South America | $64.80M | $77.70M | $94.30M | 4.8% | 7% |
| Total | $910.50M | $1.09B | $1.31B | 4.6% | 100% |
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View Subscription PlansTotal Market Size
$1.31B
| APPLICATION | REVENUE ($B) | GROWTH RATE | MARKET PENETRATION |
|---|---|---|---|
| Conventional | $1.01B | 4.5% | 77% |
| Organic | $299.80M | 4.9% | 23% |
* Revenue projections based on 2025 estimates. Growth rates represent CAGR 2024–2030. Market penetration indicates current adoption rate within addressable market segments.
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Analytical insights on Cocoa Nibs Market covering market dynamics, competitive landscape, and strategic outlook.
The Cocoa Nibs Market market is projected to reach $1.31B by 2025, growing at 4.6% CAGR. The Conventional segment holds the largest share.
The global cocoa nibs market is expected to register a notable growth rate during the forecast period. The rising consumption of cocoa nibs in various applications and the health benefits associated with cocoa are the major factors driving market growth. The increasing demand for cocoa nibs in emerging economies is expected to create new opportunities for the vendors active in the global market. However, the fluctuating raw material prices are restricting the growth of the market. Moreover, stringent regulations, especially in Europe, pose challenges for the market players.
The increasing spending capacity of consumers in developing countries in Asia-Pacific and Africa has led to a rise in demand for convenience, ready-to-eat, bakery, and dairy food products. Globalization and urbanization have contributed to changing food preferences. The growing demand for bakery and dairy products in emerging economies is expected to result in a demand for toppings and food decoration such as cocoa nibs in the coming years. Asia-Pacific is an attractive market for any industry owing to the rapid economic growth and population size. Urbanization and increasing per capita disposable incomes are driving the growth of the cocoa nibs market in developing countries in the region. Owing to the large population base and increasing adoption of Western trends, emerging economies in Asia-Pacific represent a potential market for cocoa nibs. The demand for cocoa nibs in different variants is rising among the youth, who also frequent the increasing number of cafés and beverage outlets. Thus, market players can avail of the opportunities in emerging economies by expanding their presence through product launches and marketing campaigns.
Cocoa is the key raw material required for the production of cocoa nibs. Cocoa beans are one of the most highly traded commodities in the world and the prices of the same are volatile. The consumption of cocoa is rising rapidly in cocoa-producing and non-producing countries. However, there are growing concerns regarding the lack of supply for the increasing demand. The price of cocoa affects the production cost and retail price of cocoa nibs. The price of cocoa beans has been fluctuating over the past five years. Average cocoa prices have increased for two consecutive years from USD 2.44 per kg in 2013 to USD 3.14 per kg in 2015. However, since 2015, the prices have declined with a sharp reduction of 30% in 2017 over 2016. The price of cocoa beans is volatile as production is greatly affected by weather conditions and most growers are concentrated in certain regions of the world. Moreover, there are numerous cocoa suppliers in the market, which adds to the volatility and affects the production of cocoa products, including cocoa nibs. The fluctuating raw material prices have led to the increased cost of production, thereby affecting profit margins and creating an environment of uncertainty for the manufacturers of cocoa nibs. This is expected to restrain the growth of the market to an extent during the forecast period.
Cocoa is a widely traded commodity globally with trade and quality highly regulated, especially in Europe. The Regulation (EC) No. 2006/1881, which came into effect on 1 January 2019, lays down the maximum permissible levels of cadmium in certain foods. The regulation is applicable to cocoa beans growers and cocoa product manufacturers.
Cadmium enters cocoa beans through the soil, pesticides, and chemical fertilizers. Growers in Latin America are most affected by this regulation as the soil in the region is high in cadmium due to volcanic activity. This restricts the trade of cocoa from Latin America to Europe, thereby creating hurdles in the supply of raw materials to cocoa nibs producers.
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Profiles of 107 companies operating in the Cocoa Nibs Market market, including revenue, employee count, and market positioning where available.
Showing 107 of 107 companies
Company Headquarters: England, UK Founded: 2006 Workforce: ~22 Company Working: Nutrisure Ltd sells superfoods across Europe. The company distributes superfoods, a line of ayurvedic herbs, and cocoa nibs through wholesalers under the Naturya brand. The company also offers cocoa nibs through a subsidiary brand Supernutrients across Europe.
Company Headquarters: California, US Founded: 2003 Workforce: ~50 Company Working: Navitas LLC (Navitas Organics) is a premium organic superfood company. It offers plant-based food rich in antioxidants, omegas, and proteins. The company promotes sustainability and offers only organic and non-GMO products. Navitas Organics sells its products through retail stores and online channels in North America and some parts of South America.
Company Headquarters: Toronto, Canada Founded: 2011 Workforce: ~61 Company Working: Viva Naturals offers supplements, health foods, and natural oils that are labeled all-natural, clinically proven, third-party tested, certified organic, non-GMO, and free of fillers. The company has collaborated with local growers and producers around the world to source ingredients and raw materials.
Company Headquarters: California, US Founded: 1995 Workforce: ~137 Company Working: Sunfood Corporation is a family-run company that is involved in the storage, testing, blending, packaging, and shipping of superfoods, supplements, skincare, and snacks through its on-site production facility in the US. The company has partner farms located across the globe, from South America to the Middle East.
Company Headquarters: New York, US Founded: 2003 Workforce: ~23 Company Working: Fine Cocoa Products Corporation operates in the cocoa nibs market through its brand CocoaSupply. The company offers organic confectionery products that are imported from its processing facility in Ecuador. Fine Cocoa Products Corporation’s products come with claims such as gluten- and nut-free, non-GMO, limited processing, and kosher certified. The company’s product line includes a wide variety of baking products and ingredients for household use, food manufacturers, restaurants, and bakeries. It distributes its products through retail as well as large orders in the wholesale market.
Company Headquarters: California, US Founded: 1992 Workforce: ~58 Company Working: Santa Barbara Chocolate offers premium professional chocolate and sells in bulk through wholesale to households, chefs, and bakers across the world. The product line of the company includes organic chocolate couverture, pure cacao, cocoa powder, chocolate chips, and gourmet drinking chocolate. Santa Barbara Chocolate offers cocoa products in accordance with European food standards. The company has distribution centers across the world.
12 interactive charts drawn from the Cocoa Nibs Market dataset — market size, regional splits and each segment breakdown. Open one to read its full data table and download it.
Global Cocoa Nibs Market Argentina, Brazil, Chile, Colombia, PERU and Rest Of South America
Global Cocoa Nibs Market Germany, Spain, France, United Kingdom, Italy, Netherlands and Rest Of Europe By Country
Global Cocoa Nibs Market China, India, Japan, Rest Of Asia Pacific and Australia And New Zealand Of Asia Pacific By Country
Global Cocoa Nibs Market United States, Canada and Mexico Of North America By Country
Global Cocoa Nibs Market South Africa, Rest Of Middle East And Africa, Saudi Arabia and UAE Of Middle East And Africa
Global Cocoa Nibs Market By Region
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Historical performance and future projections (2020–2030, USD Billion)
Market Size (USD Mn)
