Global Cocoa Market - 2023-2030
The Global Cocoa Market will be US$ 12.5 billion in 2022 and is projected to witness lucrative growth by reaching up to US$ 18.02 billion by 2030. The market is growing at a CAGR of 4.7% during the forecast period 2023-2030.
Consumers are increasingly aware of cocoa production's environmental and social impact and seek sustainably sourced products. This has led to a growing demand for cocoa products that are certified as sustainable, such as those produced under the Rainforest Alliance or Fairtrade standards.
The confectionery industry is the largest cocoa consumer, using it to make a wide range of products, including chocolate bars, truffles, and pralines. Cocoa is used in various beverages, including hot chocolate, cocoa-based drinks, and coffee blends.
Cocoa contains flavanols; antioxidants believed to protect against cell damage and reduce the risk of certain diseases. Cocoa contains anti-inflammatory compounds that may help reduce inflammation in the body and reduce the risk of chronic diseases.
Market Dynamics
Growing Demand for Sustainable and Ethically Sourced Cocoa is Expected to Fuel the Cocoa Market
Consumers are becoming increasingly aware of the social and environmental impact of cocoa production and are seeking out products that are sustainably and ethically sourced. According to a survey by GlobeScan, 72% of consumers in the US and UK said they would be willing to pay more for p ethically and sustainably produced products.
The cocoa industry is taking steps to promote sustainable and ethical practices. For example, the World Cocoa Foundation's CocoaAction initiative aims to promote sustainable cocoa production and improve the livelihoods of cocoa farmers.
COVID-19 Impact Analysis
The COVID-19 Analysis includes Pre-COVID Scenario, COVID Scenario, and Post-COVID Scenario along with Pricing Dynamics (Including pricing change during and post-pandemic comparing it to pre-COVID scenarios), Demand-Supply Spectrum (Shift in demand and supply owing to trading restrictions, lockdown, and subsequent issues), Government Initiatives (Initiatives to revive market, sector or Industry by Government Bodies) and Manufacturers Strategic Initiatives (What manufacturers did to mitigate the COVID issues will be covered here).
Segment Analysis
The global cocoa market is segmented based on type, form, application, and region.
The Cocoa Butter Segment will Boost the Demand for Cocoa Market
Cocoa butter is a versatile ingredient in various products, including chocolate, cosmetics, and pharmaceuticals. It is a critical ingredient in chocolate, providing the unique texture and flavor that consumers love.
The demand for chocolate is growing worldwide, particularly in emerging markets such as China and India. This has increased demand for cocoa butter, as chocolate manufacturers require large quantities of ingredients to produce their products. Cocoa butter is a high-value ingredient, with prices significantly higher than those of cocoa powder.
Geographical Analysis
Asia Pacific is the Fastest-Growing Market in the Cocoa Industry
The demand for chocolate proliferates in Asia, driven by rising disposable incomes, changing consumer tastes, and the increasing availability of high-quality chocolate products.
Some countries in the Asia Pacific region, such as Indonesia and Malaysia, have been increasing their cocoa production in recent years to meet the growing demand for cocoa products. According to Statista, cocoa bean production in Indonesia amounted to approximately 739.5 thousand tons in 2020.
Competitive Landscape
The major global players include the Cocoa market Barry Callebaut, PLOT Enterprise Ghana Limited, Cocoa Processing Co. Ltd., Cargill, Inc., BD Associates Ghana Ltd., ECOM Agro-industrial Corporation, Touton S.A., Olam International, Niche Cocoa Industry Ltd., Fuji Oil Company Ltd.
Why Purchase the Report?
• To visualize the global cocoa market segmentation based on form, type, and application to understand vital commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of cocoa market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of critical products of all the major players.
The Global Cocoa Market Report Would Provide Approximately 61 Tables, 60 Figures and 200 Pages.
Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies
- 1. Methodology and Scope
- 1.1. Research Methodology
- 1.2. Research Objective and Scope of the Report
- 2. Definition and Overview
- 3. Executive Summary
- 3.1. Snippet by Type
- 3.2. Snippet by Form
- 3.3. Snippet by Application
- 3.4. Snippet by Region
- 4. Dynamics
- 4.1. Impacting Factors
- 4.1.1. Drivers
- 4.1.2. Restraints
- 4.1.3. Opportunity
- 4.1.4. Impact Analysis
- 5. Industry Analysis
- 5.1. Porter's Five Force Analysis
- 5.2. Supply Chain Analysis
- 5.3. Pricing Analysis
- 5.4. Regulatory Analysis
- 6. COVID-19 Analysis
- 6.1. Analysis of COVID-19
- 6.1.1. Scenario Before COVID-19
- 6.1.2. Scenario During COVID-19
- 6.1.3. Post COVID-19 and Future Scenario
- 6.2. Pricing Dynamics Amid COVID-19
- 6.3. Demand-Supply Spectrum
- 6.4. Government Initiatives Related to the Market During the Pandemic
- 6.5. Manufacturers’ Strategic Initiatives
- 6.6. Conclusion
- 7. By Type
- 7.1. Introduction
- 7.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 7.1.2. Market Attractiveness Index, By Type
- 7.2. Dutch-Processed*
- 7.2.1. Introduction
- 7.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 7.3. Natural
- 8. By Form
- 8.1. Introduction
- 8.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Form
- 8.1.2. Market Attractiveness Index, By Form
- 8.2. Cocoa Powder*
- 8.2.1. Introduction
- 8.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 8.3. Cocoa Beans
- 8.4. Cocoa Liquor
- 8.5. Cocoa Butter
- 8.6. Others
- 9. By Application
- 9.1. Introduction
- 9.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 9.1.2. Market Attractiveness Index, By Application
- 9.2. Cosmetics*
- 9.2.1. Introduction
- 9.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 9.3. Pharmaceuticals
- 9.4. Food & Beverages
- 9.5. Confectionery
- 9.6. Others
- 10. By Region
- 10.1. Introduction
- 10.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Region
- 10.1.2. Market Attractiveness Index, By Region
- 10.2. North America
- 10.2.1. Introduction
- 10.2.2. Key Region-Specific Dynamics
- 10.2.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 10.2.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Form
- 10.2.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 10.2.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 10.2.6.1. The U.S.
- 10.2.6.2. Canada
- 10.2.6.3. Mexico
- 10.3. Europe
- 10.3.1. Introduction
- 10.3.2. Key Region-Specific Dynamics
- 10.3.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 10.3.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Form
- 10.3.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 10.3.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 10.3.6.1. Germany
- 10.3.6.2. The UK
- 10.3.6.3. France
- 10.3.6.4. Italy
- 10.3.6.5. Spain
- 10.3.6.6. Rest of Europe
- 10.4. South America
- 10.4.1. Introduction
- 10.4.2. Key Region-Specific Dynamics
- 10.4.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 10.4.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Form
- 10.4.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 10.4.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 10.4.6.1. Brazil
- 10.4.6.2. Argentina
- 10.4.6.3. Rest of South America
- 10.5. Asia-Pacific
- 10.5.1. Introduction
- 10.5.2. Key Region-Specific Dynamics
- 10.5.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 10.5.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Form
- 10.5.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 10.5.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 10.5.6.1. China
- 10.5.6.2. India
- 10.5.6.3. Japan
- 10.5.6.4. Australia
- 10.5.6.5. Rest of Asia-Pacific
- 10.6. Middle East and Africa
- 10.6.1. Introduction
- 10.6.2. Key Region-Specific Dynamics
- 10.6.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 10.6.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Form
- 10.6.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 11. Competitive Landscape
- 11.1. Competitive Scenario
- 11.2. Market Positioning/Share Analysis
- 11.3. Mergers and Acquisitions Analysis
- 12. Company Profiles
- 12.1. Barry Callebaut*
- 12.1.1. Company Overview
- 12.1.2. Product Portfolio and Description
- 12.1.3. Financial Overview
- 12.1.4. Key Developments
- 12.2. PLOT Enterprise Ghana Limited
- 12.3. Cocoa Processing Co. Ltd.
- 12.4. Cargill, Inc.
- 12.5. BD Associates Ghana Ltd.
- 12.6. ECOM Agroindustrial Corporation
- 12.7. Touton S.A.
- 12.8. Olam International
- 12.9. Niche Cocoa Industry Ltd.
- 12.10. Fuji Oil Company Ltd.
- LIST NOT EXHAUSTIVE
- 13. Appendix
- 13.1. About Us and Services
- 13.2. Contact Us
Research Assistance
Download our eBook: How to Succeed Using Market Research
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook