Without investment in sustainable production, the future of the global cocoa industry is uncertain, according to new research by Euromonitor.
New figures reveal that the value of sales of cocoa products featuring either Rainforest Alliance certification or a sustainable trade or farming label is set to be valued at $8.9bn this year.
Between 2015 and 2010 this value is forecast to grow by 1.3%, with products featuring the Rainforest Alliance label performing the strongest.
Euromonitor contributing analyst Helen Reavell said: “The use of certification schemes builds consumer confidence in cocoa-related products.
“Unsurprisingly, it is chocolate confectionery products that are contributing most to the total value sales of products featuring these labels, as these labels are closely linked to sustainable certification schemes for cocoa.
“However, with the usage of cocoa ingredients prevalent across a wide range of categories, the use of certified cocoa is still valid across more than just chocolate confectionery.”
Western Europe is forecast to remain the largest region for cocoa ingredients, despite a predicted fall in share from 31% of global consumption in 2015 to 29% by 2020. This reduction is driven by growth in other regions, most notably Asia Pacific.
Meanwhile North America is likely to remain weak, with an estimated annual growth rate of less than 1% between 2015 and 2020.
Euromonitor believes this is due to a fall in demand for chocolate confectionery, as consumers switch to other snack foods, particularly healthier snacks.
Eastern Europe is also set to remain a weak market, and is unlikely to see much growth in consumption over the forecast period.
Reavell continued: “Sustainability continues to be a key issue across the cocoa industry. Indeed, the sustainable production of cocoa is paramount if producing countries are to continue to maintain supply, which for many is vital to their economies.
“Therefore, it is in the interest of those involved in the cocoa industry to take an active role in managing a sustainable supply. This ranges from the cocoa grinders to the food manufacturers buying the cocoa ingredients.”
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