Cocoa is a product derived by processing the cacao seeds obtained from the cacao tree. Cocoa has its origin in Latin America, however, today is cultivated in almost all tropical regions, from West and Central Africa to Asia and Oceania. There are numerous products produced from cocoa seeds such as cocoa liquor, cocoa butter, and cocoa powder. Cocoa powder is predominantly used to manufacture chocolate confectionaries and cocoa paste, which is used to produce desserts. Cocoa butter is extensively used in pharmaceutical and cosmetic industries to manufacture skin care products. Cocoa liquor can be used as a product on its own or can be mixed with other products to make confectioneries. The popularity of cocoa can be attributed to the health benefits it provides.
The rise in awareness of health benefits regarding the consumption of cocoa-rich products drives the growth of the cocoa products market. The health benefits to the human body include decreased hypertension, reduced chronic fatigue syndrome, protection against sunburn, and others. These factors drive the growth of the cocoa products market. Increase in demand for chocolate and its related products such as milk chocolate, sweet chocolate, and dark chocolate along with aggressive advertisements by manufacturers for brand recognition majorly drive the growth of the cocoa products market. However, volatile prices and limited production of cocoa hinder the growth of this market. On the contrary, improvements in commercial farming techniques to manufacture cocoa are expected to increase the supply of this product thereby, improving chances of growth in future.
The cocoa products market is segmented based on product type, application, and region. By product type, it is classified into cocoa beans, cocoa butter, cocoa powder & cake, cocoa paste & liquor and chocolate. Based on application, it is categorized into application, confectionery, food & beverages, cosmetics and pharmaceutical. Based on region, it is analyzed across North America that includes the U.S., Canada, and Mexico; Europe that includes the UK, the Netherlands, Germany, France, Spain, Italy, Turkey, and rest of Europe; Asia-Pacific which includes Malaysia, Indonesia, Singapore, Japan, China, India, and rest of Asia-Pacific; LAMEA which comprises Brazil, C??te d’Ivoire, and rest of LAMEA.
Players in the cocoa products industry have utilized business expansion and product launch to improve their product portfolio and enhance their market share. The key players profiled in the cocoa products market include Cargill, Ciranda, FUJI OIL CO., LTD., Guan Chong Berhad (GCB), Puratos Group, The Hershey Company, Touton S.A, Tradin Organic, and United Cocoa Processor.
KEY BENEFITS FOR STAKEHOLDERS
- The report provides a quantitative analysis of the current cocoa products market trends, estimations, and dynamics of the market size from 2019 to 2026 to identify the prevailing cocoa products market opportunities.
- The key countries in all the major regions are mapped based on their Cocoa Products market share.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
- In-depth analysis and the cocoa products market size and segmentation assists in determining the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global cocoa products industry.
- Market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players.
By Product Type
KEY MARKET SEGMENTS
- ·Cocoa Beans
- ·Cocoa Butter
- ·Cocoa Powder & Cake
- ·Cocoa Paste & Liquor
- ·Food & Beverages
- Rest of Europe
- Rest of Asia-Pacific
- C??te d’Ivoire
- Rest of LAMEA.