Global Cocoa Products Market is valued approximately USD XXX billion in 2021 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2022-2029. Chocolate is made from the fatty seed of the cacao tree, which is dried and partly fermented. The dry powder produced from grinding cocoa seeds and separating the cocoa butter from the dark, bitter cocoa powder is called cocoa, and it is also referred to as cocoa. Although there are many labels for bean products cocoa is thought of as the solid portion of the cacao seed (bean), cocoa butter as the fat component, and chocolate as the combination of the solid and the fat. Products made from cocoa are used in many foods in the modern world. The market for cocoa products is growing as a result of rising health awareness regarding the use of products rich in cocoa. Chocolate is produced from the cocoa plant. Roasted cocoa kernels (seeds) are compressed between heated rollers to create the bitter chocolate. The fat (cocoa butter) from bitter chocolate is drained out and the remaining substance is ground into cocoa powder. In addition, people frequently use cocoa to address high blood pressure and heart disease. Also, the rising demand for cocoa products in food and cosmetics industry is create the lucrative demand for the market.
However, the rising food and beverages industry globally is creating the lucrative demand for the coco products market. According to Statista, in 2019 the convenience food market is valued USD 8.24 billion; in 2022 the number reached USD 20.28 billion, and it is anticipated to reach USD 39.81 billion by 2025. Additionally, the advancements in commercial farming techniques are anticipated to create the lucrative opportunity for the market during forecast period. However, the limited production of cocoa stifles market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Cocoa Products Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the dominating region across the world in terms of market share, owing to the presence of key market players, growing food and beverages industry and rising awareness about health benefits of cocoa. Whereas, Asia Pacific is also anticipated to exhibit highest growth rate over the forecast period, owing to factors such as growing cosmetics industry and rise in disposable income in the region would create lucrative growth prospects for the Cocoa Products market across Asia Pacific region.
Major market player included in this report are:
Barry Callebaut AG
FUJI OIL CO., LTD.
Guan Chong Berhad (GCB)
The Hershey Company
Tradin Organic Agriculture B.V. (SunOpta Inc.)
United Cocoa Processor, Inc. (UCP)
Recent Developments in the Market:
- In June 2021, Barry Callebaut AG had declared to acquire Europe Chocolate Company (ECC). It is a privately held B2B producer of chocolate decorations and specialties in Belgium. A wide variety of industrial specialty chocolate and decorations, such as batons, curls, chunks, leaves, and shavings, are produced by the ECC.
Global Cocoa Products Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Product Type, Application, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product Type:
Cocoa Powder & Cake
Cocoa Paste & Liquor
Food & Beverages
Rest of the World