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2019
Cocoa Products Market

Cocoa Products Market

by Product Type (Cocoa Beans, Cocoa Butter, Cocoa Powder & Cake, Cocoa Paste & Liquor, and Chocolate) and Application (Confectionery, Food & Beverages, Cosmetics & Pharmaceutical): Global Opportunity Analysis and Industry Forecast, 2019-2026
Update Available On-Demand

Report Code: A03084
Pages: 200
Jun 2019 | 23076 Views
Author(s) : Sumesh K
Tables: 103
Charts: 61
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Cocoa Products Market Outlook - 2026

The global cocoa products market size was valued at $24.5 billion in 2019 and is projected to grow at a CAGR of 3.1% to reach a value of $30.2 billion in 2026. Based on product type, the cocoa beans segment accounted for the highest contribution in the cocoa products market and is expected to continue the lead throughout the forecast period. Cocoa is a product that can be derived by processing the seeds of the cacao tree. Cocoa has its origin in Latin America, however today it is cultivated in almost all tropical regions from West and Central Africa to Asia and Oceania. There are numerous products manufactured 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.

Cocoa Products Market

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. Cocoa is also rich in polyphenols that help in protecting the body's tissues against oxidative stress and associated pathologies such as cancers, and inflammation. These factors also 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 the cocoa hinders the growth of this market. On the contrary, improvements in commercial farming techniques are used to manufacture cocoa, which is expected to increase the supply of this product thereby, improving chances for growth in the coming future

Cocoa Products Market

The cocoa products market opportunity, size and trend have been analyzed in the report. The report has been segmented based on product type, application, and region. By 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 that includes Malaysia, Indonesia, Singapore, Japan, China, India, and rest of Asia-Pacific; and LAMEA that comprises Brazil, Côte d'Ivoire, and rest of LAMEA.

Cocoa Products Market

According to the cocoa products market analysis, Based on product type, the cocoa beans segment contributed the largest share in the cocoa products market. Rise in demand for cocoa beans to manufacture variety of food and beverages majorly drives its sales. However, the cocoa paste category was the fastest growing segment in 2019. This is attributed to growing popularity of cocoa-based products including cocoa beverages and other products coupled with rising disposable income among middle class population is anticipated to boost the sales of cocoa beans. Moreover, factors such as changing consumer demand, evolving taste, and rising health consciousness among consumers are expected to increase the cocoa products market demand. Furthermore, increasing government efforts to provide modern farming techniques for farmers is anticipated to create positive outlook for cocoa beans that is expected to eventually drive the cocoa products market growth.

Cocoa Products Market

Based on application, the confectionary segment was the highest contributor to the cocoa products market share in 2019 and is expected to dominate the market through the forecast period. This is attributed to increasing affinity of people around the world toward packaged food and confectioneries. Moreover, rise in the disposable income coupled with frequent snacking habit of consumers worldwide has helped boost the confectionery segment. However, the cosmetics category is projected to grow at the fastest CAGR throughout the forecasted period. This is due to the health benefits provided by cocoa powder.

According to the cocoa products market forecast, based on region, Europe was the dominant market in 2019. This is due to Europe being a mature market where the retail infrastructure has remained quite steady over the years. This is attributed to the rising consumption of consumer goods and beverages, owing to increase in spending power of the people living in the region. 

Players in the cocoa products industry have utilized business expansion and product launch to improve their product portfolio and improve 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 Cocoa Products Market:

  • The report provides a quantitative analysis of the current cocoa products market trends, estimations, and dynamics of the market size from 2017 to 2025 to identify the prevailing opportunities.
  • The key countries in all the major regions are mapped based on their market share in the cocoa products market.
  • 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 of 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.

Cocoa Products Market Report Highlights

Aspects Details
By Product Type
  • Cocoa Beans
  • Cocoa Butter
  • Cocoa Powder & Cake
  • Cocoa Paste & Liquor
  • Chocolate
By Application
  • Confectionery
  • Food & Beverages
  • Cosmetics
  • Pharmaceutical
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (Germany, France, UK, Italy, Spain, Netherlands, Rest of Europe)
  • Asia-Pacific  (Japan, China, India, Indonesia, Singapore, Malaysia, Rest of Asia-Pacific)
  • LAMEA  (Brazil, Rest of LAMEA, Ivory Coast, Ghana, Cameroon)
Key Market Players Barry Callebaut AG, Cargill Inc., Ciranda, Inc., FUJI OIL CO., LTD., Guan Chong Berhad (GCB), Puratos Group, The Hershey Company, Touton S.A., Tradin Organic Agriculture B.V. (SunOpta Inc.), United Cocoa Processor, Inc. (UCP)
 

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The cocoa products market size in 2019 was valued at $24.5 billion in 2019 and is predicted to reach $30.2 billion in 2026 growing at a CAGR of 3.1% from 2019 to 2026.

Cocoa is a product derived by processing the cacao seeds obtained from the cacao plant. 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. Based on the interviews of various top-level CXOs of leading companies, the rise in awareness of health benefits regarding the consumption of cocoa-rich products. Moreover, the growth of the cocoa products market is also supplemented by increase in application of cocoa products in the pharmaceutical industry.

However, volatile prices and limited production of the cocoa hamper the growth of this market. On the contrary, improvements in commercial farming techniques used to manufacture cocoa are expected to increase the supply of this product thereby, improving chances for growth in future.

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