Cocoa Products Market size was at USD 24.5 billion in 2019 and is anticipated to reach over USD 30.2 billion by the end of the assessment period. The Cocoa Products Market is estimated to experience reasonable growth to record a CAGR of 3.1% throughout the foreseen period 2021-2026.
Cocoa products are derived from cocoa beans or fermented seeds of a cocoa tree. Some of the main cocoa products include cocoa powder, chocolate, cocoa butter, cocoa liquor, etc. Many cocoa products are nowadays becoming pivotal in different industries, such as chocolates, cosmetics and pharmaceuticals, alcohol and so on. Cocoa products like cocoa powder have been shown to regulate blood pressure and prevent the development of hypertension, reduce the risk of heart attack and stroke, and promote healthy skin and teeth.
Coronavirus pandemic had its worst impact on the food & beverages sector, including all its associated industries like cocoa products. The shutdown of production units, disruption in supply chains, and closure of sales channels as a part of lockdown conditions in several developed and developing nations have led to the declined sales of cocoa products. The Cocoa Products Market is likely to take some time to recuperate as consumers are turning towards organic and herbal products to boost their immunity during this COVID-19 period.
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REPORT METRIC |
DETAILS |
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Market Size Available |
2021 – 2026 |
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Base Year |
2020 |
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Forecast Period |
2020 - 2026 |
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CAGR |
X.X% |
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Segments Covered |
By Type, By Application, and By Region |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
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Market Leaders Profiled |
United Cocoa Processor, Cargill, Tradin Organic, Puratos Group, Touton S.A, Guan Chong Berhad (GCB), The Hershey Company, Ciranda, and FUJI OIL CO. |
Cocoa Products Market size is projected to reach USD USD 30.2 billion, with growth at a CAGR of 3.1% during the forecast period 2020-2025.
Cocoa Products Market Drivers and Restraints:
The growing demand for chocolates and related products such as dark chocolates, milk chocolates, etc., has led to an increase in demand for cocoa products. Manufacturers carry out increased per capita chocolate consumption and aggressive advertising and promotional campaigns to attract buyers, which is likely to stimulate demand for cocoa products. Also, the use of cocoa butter in the formulation of various cosmetic and personal care products due to its therapeutic properties is expected to further increase the demand for cocoa products during the forecast period. The demand for organic cocoa products has augmented rapidly as consumers are increasingly concerned about food safety and the impact of cocoa plantations on the environment. This is attributed to the increasing popularity of cocoa products, including cocoa beverages and other products, associated with increasing disposable income among the middle-class population, which is expected to boost cocoa bean sales. Furthermore, factors such as changing consumer demand, changing taste, and increasing health awareness among consumers are supposed to increase market demand for cocoa products. Furthermore, increased government efforts to provide modern agricultural techniques to farmers are supposed to create positive prospects for cocoa beans, which will ultimately drive the growth of the cocoa product market. However, the threat to the sustainability of cocoa production, endemic fertilizer use, low soil fertility and climate change are likely to affect the production of cocoa products during the forecast period.
The Global Cocoa Products market is segmented based on Application and type.
By type, the market is separated into cocoa beans, cocoa butter, cocoa powder and cakes, paste and cocoa liquor and chocolate. Depending on the application, the market is divided into confectionery, food and beverage, cosmetics and pharmaceuticals. Of the available types, the cocoa beans segment contributed the largest share to the cocoa products market. The increased demand for cocoa beans to make a variety of foods and beverages primarily drives their sales. However, the cocoa powder category was the fastest growing in 2019.
According to the application, the confectionery segment has been the main contributor to the cocoa products market share in 2019 and is expected to dominate the market throughout the foreseen period. This is attributed to the growing affinity of people around the world for packaged foods and sweets. In addition, the increase in disposable income coupled with the frequent snacking habit of consumers around the world has helped boost the confectionery segment. However, the cosmetics category is anticipated to grow at the fastest CAGR during the conjecture period.
The global Cocoa Products market has been divided on the basis of geography into the areas of North America, Asia Pacific, Europe, Latin America, and the Middle East, and Africa.
In the global Cocoa Products market, the European region provided the largest share, followed by North America, Asia-Pacific, and others. In Europe, Germany occupies the largest market share due to the high consumption of cocoa products in industrial applications, for example, Mondelez International, Nestlé, and Lindt & Sprüngli, one of the main players in confectionery, consumes mainly cocoa-based products for the elaboration of chocolates incorporated with roasted cocoa bean products.
In North America, the United States occupied the largest market share due to the consumption of cocoa beans and butter applied in the food and beverage industry and the preference for tasty coffee, which has made its preferences among American consumers. In the Asia-Pacific region, the Japanese market is leading growth due to the high consumption of cocoa liquors and cocoa butter in the food and pharmaceutical sector and has led its growth.
Cargill had the largest share of the Global Cocoa Products Market in terms of sales and revenue in 2019.
Key players in the Global Cocoa Products Market include United Cocoa Processor, Cargill, Tradin Organic, Puratos Group, Touton S.A, Guan Chong Berhad (GCB), The Hershey Company, Ciranda, and FUJI OIL CO.
1. Introduction
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.1.1 Drivers
4.1.2 Restaints
4.1.3 Opportunities
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.2 Products/Service
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Cocoa Products Market, By Product Type
6.1.1 Chocolate
6.1.2 Cocoa Paste & Liquor
6.1.3 Cocoa Powder & Cake
6.1.4 Cocoa Butter
6.1.5 Cocoa Beans
6.1.6 Market Size Estimations & Forecasts (2019-2024)
6.1.7 Y-o-Y Growth Rate Analysis
6.1.8 Market Attractiveness Index
6.2 Cocoa Products Market, By Application
6.2.1 Cosmetics & Pharmaceutical
6.2.2 Food & Beverages
6.2.3 Confectionery
6.2.4 Market Size Estimations & Forecasts (2019-2024)
6.2.5 Y-o-Y Growth Rate Analysis
6.2.6 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Identity Governance and Administration Market, by Region
7.2 North America - Market Analysis (2018 - 2024)
7.2.1 By Country
7.2.1.1 USA
7.2.1.2 Canada
7.2.2 By Product Type
7.2.3 By Application
7.3 Europe
7.3.1 By Country
7.3.1.1 UK
7.3.1.2 France
7.3.1.3 Germany
7.3.1.4 Spain
7.3.1.5 Italy
7.3.1.6 Rest of Europe
7.3.2 By Product Type
7.3.3 By Application
7.4 Asia Pacific
7.4.1 By Country
7.4.1.1 China
7.4.1.2 India
7.4.1.3 Japan
7.4.1.4 South Korea
7.4.1.5 South East Asia
7.4.1.6 Australia & NZ
7.4.1.7 Rest of Asia-Pacific
7.4.2 By Product Type
7.4.3 By Application
7.5 Latin America
7.5.1 By Country
7.5.1.1 Brazil
7.5.1.2 Argentina
7.5.1.3 Mexico
7.5.1.4 Rest of Latin America
7.5.2 By Product Type
7.5.3 By Application
7.6 Middle East and Africa
7.6.1 By Country
7.6.1.1 Middle East
7.6.1.2 Africa
7.6.2 By Product Type
7.6.3 By Application
8. Key Player Analysis
8.1 Cargill Inc
8.1.1 Business Description
8.1.2 Products/Service
8.1.3 Financials
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 United Cocoa Processor
8.3 Tradin Organic
8.4 Puratos Group
8.5 Touton S.A
8.6 Guan Chong Berhad (GCB)
8.7 The Hershey Company
8.8 Ciranda
8.9 FUJI OIL CO
9. Market Outlook & Investment Opportunities
Appendix
List of Tables
List of Figures
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