Cocoa and Chocolate Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Cocoa and Chocolate Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032



Growth Factors of Cocoa and Chocolate Market

The cocoa and chocolate market size was valued at USD 46.61 billion in 2021, and the market is now projected to grow from USD 48.29 billion in 2022 to USD 67.88 billion by 2029, exhibiting a CAGR of 4.98% during the forecast period of 2021-2029.

COVID-19 pandemic has extensively impacted the food and beverage processing industry, negatively impacting intake patterns and affecting cocoa manufacturing. Restrictions caused losses for cocoa farmers, main to a decline in cocoa rates. Lockdowns closed distribution destinations, affecting chocolate sales. Darker chocolates received recognition because of fitness benefits and decrease calorie content material. The trend inside the route of low-sugar and sugar-loose products is expected to create possibilities for manufacturers, as customers opt for more healthy alternatives.

The global chocolate confectionery market is specifically driven via the increasing popularity of chocolate confectionery. Emerging economies are experiencing a fine trend due to growing patron spending on indulgent confectionery merchandise. In evolved markets, the demand for molded and count line chocolates is expected to positively impact the market. Key producers are including new chocolate types like dark and ruby chocolate, and the fashion of gifting goodies at some stage in festive seasons is anticipated to make contributions to the increase of the cocoa and chocolate market growth.

Consumers' perception in the prevalence of single-origin and bean-to-bar sweets is riding market players to invest in this trend. The demand for strong point chocolate products and premiumized services has grown, leading to improvements in cocoa powder, liquor, and butter. The call for certified and traceable cocoa and chocolate products is likewise riding producers to adopt sustainability packages. In April 2021, Olam Food Ingredients partnered with Mondelez International to construct the sector's largest sustainable business cocoa processing farm in Indonesia.

Comprehensive Analysis of Cocoa and Chocolate Market

The chocolate confectionery segment is experiencing higher sales due to the growing popularity of flavored chocolates. Filled chocolates are gaining market share due to premiumized chocolate trends and are becoming popular as indulgent gifts. The cocoa substances segment is expected to develop faster due to their applications in various merchandise, which includes ice cream, confectionery, non-alcoholic liquids, indulgent baked goods, and dietary drinks. The International Cocoa Organization predicts a 10% boom in world cocoa manufacturing inside the next decade. New product developments inside the food enterprise also make a contribution to the boom of the cocoa section. The food & beverage sector is flourishing globally, providing opportunities for the industry. Chocolate remains a leading flavour in new launches in beverages, bakery, and confectionery items. The global foodservice industry is also boosting gourmet and specialty cocoa-based offerings, with foodservice giants demanding greater customization and value-added solutions. Cocoa butter has full-size applications in the cosmetics and pharmaceutical industries, with its excessive antioxidant content and capability advantages for the immune system, coronary heart health, and constipation.

The Europe region lead the cocoa and chocolate market share by benefitting a market size of USD 19.95 billion in 2021 due to location is the most vital manufacturer and purchaser of chocolate and chocolate products, with diverse cocoa markets. Europe is the biggest importer of cocoa beans, accounting for 61% of world imports. In 2020, European imports from cocoa-generating countries multiplied through 1.4%. The call for sustainably produced chocolate has prolonged due to increased consumer cognizance approximately sustainable cocoa production, and the place's sustainability structures are participating to enhance transparency.

Global cocoa and chocolate market players are specializing in new product launches and growth to bolster their market presence. Barry Callebaut AG, a main player, is investing in increasing its product portfolio by using introducing contemporary consumer-friendly products In February 2020, the company introduced a dairy-free chocolate in its plant crafts range. The market is highly consolidated, with key players like Olam International, Cargill, Nestle, and Barry Callebaut AG focusing on strategic mergers, acquisitions, and partnerships to further consolidate their position.

Barry Callebaut has extended its manufacturing unit in Campbellfield, Melbourne, Australia, aiming to enlarge its Asia Pacific presence and provide secure, extraordinary merchandise to the whole Australian food sector, along with worldwide and nearby manufacturers, artisanal chocolate customers, and professional chocolate users.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2018-2029

Base Year 2021

Estimated Year 2022

Forecast Period 2022-2029

Historical Period 2018-2020

Unit Value (USD billion)

By Type Cocoa Ingredients

Cocoa Butter

Cocoa Liquor

Cocoa Powder

Chocolate

Dark

Milk

White

Filled

By Application Food & Beverage

Confectionery

Dairy

Bakery

Others

Cosmetics

Pharmaceuticals

Others

By Geography North America (By Type, Application, and Country)

U.S. (By Application)

Canada (By Application)

Mexico (By Application)

Europe (By Type, Application, and Country)

U.K. (By Application)

Germany (By Application)

France (By Application)

Italy (By Application)

Spain (By Application)

Belgium (By Application)

Russia (By Application)

Rest of Europe (By Application)

Asia Pacific (By Type, Application, and Country)

Japan (By Application)

China (By Application)

India (By Application)

South Korea (By Application)

Australia (By Application)

Rest of Asia Pacific (By Application)

South America (By Type, Application, and Country)

Brazil (By Application)

Argentina (By Application)

Rest of South America (By Application)

Middle East & Africa (By Type, Application, and Country)

South Africa (By Application)

UAE (By Application)

Rest of ME&A (By Application)

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1. Introduction
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
3.4. Emerging Trends
4. Key Insights
4.1. Overview of the Parent/Related Market
4.2. Supply Chain and Regulatory Analysis
4.3. Recent Industry Developments - Policies, Partnerships, New Source Launches, and Mergers & Acquisitions
4.4. Cocoa Price & Trade Analysis
4.5. Qualitative Analysis (In relation to COVID-19)
4.5.1. Impact of COVID-19
4.5.2. Supply Chain Challenges
4.5.3. Potential Opportunities due to COVID-19
5. Global Cocoa and Chocolate Market Analysis, Insights and Forecast, 2018-2029
5.1. Key Findings / Summary
5.2. Market Size Estimates and Forecast
5.2.1. By Type
5.2.1.1. Cocoa Ingredients
5.2.1.1.1. Cocoa Butter
5.2.1.1.2. Cocoa Liquor
5.2.1.1.3. Cocoa Powder
5.2.1.2. Chocolate
5.2.1.2.1. Dark
5.2.1.2.2. White
5.2.1.2.3. Milk
5.2.1.2.4. Filled
5.2.2. By Application
5.2.2.1. Food & Beverages
5.2.2.1.1. Confectionery
5.2.2.1.2. Bakery
5.2.2.1.3. Dairy
5.2.2.1.4. Others
5.2.2.2. Cosmetics
5.2.2.3. Pharmaceuticals
5.2.2.4. Others
5.2.3. By Region
5.2.3.1. North America
5.2.3.2. Europe
5.2.3.3. Asia Pacific
5.2.3.4. South America
5.2.3.5. Middle East & Africa
6. North America Cocoa and Chocolate Market Analysis, Insights and Forecast, 2018-2029
6.1. Key Findings / Summary
6.2. Market Size Estimates and Forecast
6.2.1. By Type
6.2.1.1. Cocoa Ingredients
6.2.1.1.1. Cocoa Butter
6.2.1.1.2. Cocoa Liquor
6.2.1.1.3. Cocoa Powder
6.2.1.2. Chocolate
6.2.1.2.1. Dark
6.2.1.2.2. White
6.2.1.2.3. Milk
6.2.1.2.4. Filled
6.2.2. By Application
6.2.2.1. Food & Beverages
6.2.2.1.1. Confectionery
6.2.2.1.2. Bakery
6.2.2.1.3. Dairy
6.2.2.1.4. Others
6.2.2.2. Cosmetics
6.2.2.3. Pharmaceuticals
6.2.2.4. Others
6.2.3. By Country (Value)
6.2.3.1. U.S
6.2.3.1.1. By Application (Value)
6.2.3.1.1.1. Food & Beverages
6.2.3.1.1.1.1. Confectionery
6.2.3.1.1.1.2. Bakery
6.2.3.1.1.1.3. Dairy
6.2.3.1.1.1.4. Others
6.2.3.1.1.2. Cosmetics
6.2.3.1.1.3. Pharmaceuticals
6.2.3.1.1.4. Others
6.2.3.2. Canada
6.2.3.2.1. By Application (Value)
6.2.3.2.1.1. Food & Beverages
6.2.3.2.1.1.1. Confectionery
6.2.3.2.1.1.2. Bakery
6.2.3.2.1.1.3. Dairy
6.2.3.2.1.1.4. Others
6.2.3.2.1.2. Cosmetics
6.2.3.2.1.3. Pharmaceuticals
6.2.3.2.1.4. Others
6.2.3.3. Mexico
6.2.3.3.1. By Application (Value)
6.2.3.3.1.1. Food & Beverages
6.2.3.3.1.1.1. Confectionery
6.2.3.3.1.1.2. Bakery
6.2.3.3.1.1.3. Dairy
6.2.3.3.1.1.4. Others
6.2.3.3.1.2. Cosmetics
6.2.3.3.1.3. Pharmaceuticals
6.2.3.3.1.4. Others
7. Europe Cocoa and Chocolate Market Analysis, Insights and Forecast, 2018-2029
7.1. Key Findings / Summary
7.2. Market Size Estimates and Forecast
7.2.1. By Type
7.2.1.1. Cocoa Ingredients
7.2.1.1.1. Cocoa Butter
7.2.1.1.2. Cocoa Liquor
7.2.1.1.3. Cocoa Powder
7.2.1.2. Chocolate
7.2.1.2.1. Dark
7.2.1.2.2. White
7.2.1.2.3. Milk
7.2.1.2.4. Filled
7.2.2. By Application
7.2.2.1. Food & Beverages
7.2.2.1.1. Confectionery
7.2.2.1.2. Bakery
7.2.2.1.3. Dairy
7.2.2.1.4. Others
7.2.2.2. Cosmetics
7.2.2.3. Pharmaceuticals
7.2.2.4. Others
7.2.3. By Country (Value)
7.2.3.1. Germany
7.2.3.1.1. By Application (Value)
7.2.3.1.1.1. Food & Beverages
7.2.3.1.1.1.1. Confectionery
7.2.3.1.1.1.2. Bakery
7.2.3.1.1.1.3. Dairy
7.2.3.1.1.1.4. Others
7.2.3.1.1.2. Cosmetics
7.2.3.1.1.3. Pharmaceuticals
7.2.3.1.1.4. Others
7.2.3.2. France
7.2.3.2.1. By Application (Value)
7.2.3.2.1.1. Food & Beverages
7.2.3.2.1.1.1. Confectionery
7.2.3.2.1.1.2. Bakery
7.2.3.2.1.1.3. Dairy
7.2.3.2.1.1.4. Others
7.2.3.2.1.2. Cosmetics
7.2.3.2.1.3. Pharmaceuticals
7.2.3.2.1.4. Others
7.2.3.3. Italy
7.2.3.3.1. By Application (Value)
7.2.3.3.1.1. Food & Beverages
7.2.3.3.1.1.1. Confectionery
7.2.3.3.1.1.2. Bakery
7.2.3.3.1.1.3. Dairy
7.2.3.3.1.1.4. Others
7.2.3.3.1.2. Cosmetics
7.2.3.3.1.3. Pharmaceuticals
7.2.3.3.1.4. Others
7.2.3.4. U.K.
7.2.3.4.1. By Application (Value)
7.2.3.4.1.1. Food & Beverages
7.2.3.4.1.1.1. Confectionery
7.2.3.4.1.1.2. Bakery
7.2.3.4.1.1.3. Dairy
7.2.3.4.1.1.4. Others
7.2.3.4.1.2. Cosmetics
7.2.3.4.1.3. Pharmaceuticals
7.2.3.4.1.4. Others
7.2.3.5. Spain
7.2.3.5.1. By Application (Value)
7.2.3.5.1.1. Food & Beverages
7.2.3.5.1.1.1. Confectionery
7.2.3.5.1.1.2. Bakery
7.2.3.5.1.1.3. Dairy
7.2.3.5.1.1.4. Others
7.2.3.5.1.2. Cosmetics
7.2.3.5.1.3. Pharmaceuticals
7.2.3.5.1.4. Others
7.2.3.6. Belgium
7.2.3.6.1. By Application (Value)
7.2.3.6.1.1. Food & Beverages
7.2.3.6.1.1.1. Confectionery
7.2.3.6.1.1.2. Bakery
7.2.3.6.1.1.3. Dairy
7.2.3.6.1.1.4. Others
7.2.3.6.1.2. Cosmetics
7.2.3.6.1.3. Pharmaceuticals
7.2.3.6.1.4. Others
7.2.3.7. Russia
7.2.3.7.1. By Application (Value)
7.2.3.7.1.1. Food & Beverages
7.2.3.7.1.1.1. Confectionery
7.2.3.7.1.1.2. Bakery
7.2.3.7.1.1.3. Dairy
7.2.3.7.1.1.4. Others
7.2.3.7.1.2. Cosmetics
7.2.3.7.1.3. Pharmaceuticals
7.2.3.7.1.4. Others
7.2.3.8. Rest of Europe
7.2.3.8.1. By Application (Value)
7.2.3.8.1.1. Food & Beverages
7.2.3.8.1.1.1. Confectionery
7.2.3.8.1.1.2. Bakery
7.2.3.8.1.1.3. Dairy
7.2.3.8.1.1.4. Others
7.2.3.8.1.2. Cosmetics
7.2.3.8.1.3. Pharmaceuticals
7.2.3.8.1.4. Others
8. Asia Pacific Cocoa and Chocolate Market Analysis, Insights and Forecast, 2018-2029
8.1. Key Findings / Summary
8.2. Market Size Estimates and Forecast
8.2.1. By Type
8.2.1.1. Cocoa Ingredients
8.2.1.1.1. Cocoa Butter
8.2.1.1.2. Cocoa Liquor
8.2.1.1.3. Cocoa Powder
8.2.1.2. Chocolate
8.2.1.2.1. Dark
8.2.1.2.2. White
8.2.1.2.3. Milk
8.2.1.2.4. Filled
8.2.2. By Application
8.2.2.1. Food & Beverages
8.2.2.1.1. Confectionery
8.2.2.1.2. Bakery
8.2.2.1.3. Dairy
8.2.2.1.4. Others
8.2.2.2. Cosmetics
8.2.2.3. Pharmaceuticals
8.2.2.4. Others
8.2.3. By Country (Value)
8.2.3.1. China
8.2.3.1.1. By Application (Value)
8.2.3.1.1.1. Food & Beverages
8.2.3.1.1.1.1. Confectionery
8.2.3.1.1.1.2. Bakery
8.2.3.1.1.1.3. Dairy
8.2.3.1.1.1.4. Others
8.2.3.1.1.2. Cosmetics
8.2.3.1.1.3. Pharmaceuticals
8.2.3.1.1.4. Others
8.2.3.2. India
8.2.3.2.1. By Application (Value)
8.2.3.2.1.1. Food & Beverages
8.2.3.2.1.1.1. Confectionery
8.2.3.2.1.1.2. Bakery
8.2.3.2.1.1.3. Dairy
8.2.3.2.1.1.4. Others
8.2.3.2.1.2. Cosmetics
8.2.3.2.1.3. Pharmaceuticals
8.2.3.2.1.4. Others
8.2.3.3. Japan
8.2.3.3.1. By Application (Value)
8.2.3.3.1.1. Food & Beverages
8.2.3.3.1.1.1. Confectionery
8.2.3.3.1.1.2. Bakery
8.2.3.3.1.1.3. Dairy
8.2.3.3.1.1.4. Others
8.2.3.3.1.2. Cosmetics
8.2.3.3.1.3. Pharmaceuticals
8.2.3.3.1.4. Others
8.2.3.4. Australia
8.2.3.4.1. By Application (Value)
8.2.3.4.1.1. Food & Beverages
8.2.3.4.1.1.1. Confectionery
8.2.3.4.1.1.2. Bakery
8.2.3.4.1.1.3. Dairy
8.2.3.4.1.1.4. Others
8.2.3.4.1.2. Cosmetics
8.2.3.4.1.3. Pharmaceuticals
8.2.3.4.1.4. Others
8.2.3.5. South Korea
8.2.3.5.1. By Application (Value)
8.2.3.5.1.1. Food & Beverages
8.2.3.5.1.1.1. Confectionery
8.2.3.5.1.1.2. Bakery
8.2.3.5.1.1.3. Dairy
8.2.3.5.1.1.4. Others
8.2.3.5.1.2. Cosmetics
8.2.3.5.1.3. Pharmaceuticals
8.2.3.5.1.4. Others
8.2.3.6. South East Asia
8.2.3.6.1. By Application (Value)
8.2.3.6.1.1. Food & Beverages
8.2.3.6.1.1.1. Confectionery
8.2.3.6.1.1.2. Bakery
8.2.3.6.1.1.3. Dairy
8.2.3.6.1.1.4. Others
8.2.3.6.1.2. Cosmetics
8.2.3.6.1.3. Pharmaceuticals
8.2.3.6.1.4. Others
8.2.3.7. Rest of Asia Pacific
8.2.3.7.1. By Application (Value)
8.2.3.7.1.1. Food & Beverages
8.2.3.7.1.1.1. Confectionery
8.2.3.7.1.1.2. Bakery
8.2.3.7.1.1.3. Dairy
8.2.3.7.1.1.4. Others
8.2.3.7.1.2. Cosmetics
8.2.3.7.1.3. Pharmaceuticals
8.2.3.7.1.4. Others
9. South America Cocoa and Chocolate Market Analysis, Insights and Forecast, 2018-2029
9.1. Key Findings / Summary
9.2. Market Size Estimates and Forecast
9.2.1. By Type
9.2.1.1. Cocoa Ingredients
9.2.1.1.1. Cocoa Butter
9.2.1.1.2. Cocoa Liquor
9.2.1.1.3. Cocoa Powder
9.2.1.2. Chocolate
9.2.1.2.1. Dark
9.2.1.2.2. White
9.2.1.2.3. Milk
9.2.1.2.4. Filled
9.2.2. By Application
9.2.2.1. Food & Beverages
9.2.2.1.1. Confectionery
9.2.2.1.2. Bakery
9.2.2.1.3. Dairy
9.2.2.1.4. Others
9.2.2.2. Cosmetics
9.2.2.3. Pharmaceuticals
9.2.2.4. Others
9.2.3. By Country (Value)
9.2.3.1. Brazil
9.2.3.1.1. By Application (Value)
9.2.3.1.1.1. Food & Beverages
9.2.3.1.1.1.1. Confectionery
9.2.3.1.1.1.2. Bakery
9.2.3.1.1.1.3. Dairy
9.2.3.1.1.1.4. Others
9.2.3.1.1.2. Cosmetics
9.2.3.1.1.3. Pharmaceuticals
9.2.3.1.1.4. Others
9.2.3.2. Argentina
9.2.3.2.1. By Application (Value)
9.2.3.2.1.1. Food & Beverages
9.2.3.2.1.1.1. Confectionery
9.2.3.2.1.1.2. Bakery
9.2.3.2.1.1.3. Dairy
9.2.3.2.1.1.4. Others
9.2.3.2.1.2. Cosmetics
9.2.3.2.1.3. Pharmaceuticals
9.2.3.2.1.4. Others
9.2.3.3. Rest of South America
9.2.3.3.1. By Application (Value)
9.2.3.3.1.1. Food & Beverages
9.2.3.3.1.1.1. Confectionery
9.2.3.3.1.1.2. Bakery
9.2.3.3.1.1.3. Dairy
9.2.3.3.1.1.4. Others
9.2.3.3.1.2. Cosmetics
9.2.3.3.1.3. Pharmaceuticals
9.2.3.3.1.4. Others
10. Middle East and Africa Cocoa & Chocolate Market Analysis, Insights and Forecast, 2018-2029
10.1. Key Findings / Summary
10.2. Market Size Estimates and Forecast
10.2.1. By Type
10.2.1.1. Cocoa Ingredients
10.2.1.1.1. Cocoa Butter
10.2.1.1.2. Cocoa Liquor
10.2.1.1.3. Cocoa Powder
10.2.1.2. Chocolate
10.2.1.2.1. Dark
10.2.1.2.2. White
10.2.1.2.3. Milk
10.2.1.2.4. Filled
10.2.2. By Application
10.2.2.1. Food & Beverages
10.2.2.1.1. Confectionery
10.2.2.1.2. Bakery
10.2.2.1.3. Dairy
10.2.2.1.4. Others
10.2.2.2. Cosmetics
10.2.2.3. Pharmaceuticals
10.2.2.4. Others
10.2.3. By Country (Value)
10.2.3.1. South Africa
10.2.3.1.1. By Application (Value)
10.2.3.1.1.1. Food & Beverages
10.2.3.1.1.1.1. Confectionery
10.2.3.1.1.1.2. Bakery
10.2.3.1.1.1.3. Dairy
10.2.3.1.1.1.4. Others
10.2.3.1.1.2. Cosmetics
10.2.3.1.1.3. Pharmaceuticals
10.2.3.1.1.4. Others
10.2.3.2. UAE
10.2.3.2.1. By Application (Value)
10.2.3.2.1.1. Food & Beverages
10.2.3.2.1.1.1. Confectionery
10.2.3.2.1.1.2. Bakery
10.2.3.2.1.1.3. Dairy
10.2.3.2.1.1.4. Others
10.2.3.2.1.2. Cosmetics
10.2.3.2.1.3. Pharmaceuticals
10.2.3.2.1.4. Others
10.2.3.3. Rest of Middle East & Africa
10.2.3.3.1. By Application (Value)
10.2.3.3.1.1. Food & Beverages
10.2.3.3.1.1.1. Confectionery
10.2.3.3.1.1.2. Bakery
10.2.3.3.1.1.3. Dairy
10.2.3.3.1.1.4. Others
10.2.3.3.1.2. Cosmetics
10.2.3.3.1.3. Pharmaceuticals
10.2.3.3.1.4. Others
11. Competitive Matrix
11.1. Business Strategies Adopted by Leading Players
11.2. Global Cocoa & Chocolate Market Revenue Share/Ranking Analysis, By Key Manufacturer, 2021
12. Company Profiles
12.1. Berry Callebaut AG
12.1.1. Overview
12.1.2. Description
12.1.3. Source Portfolio
12.1.4. Financials (Data as available in public domain and/or on paid databases)
12.1.5. Recent Developments
12.2. Cargill, Incorporated
12.2.1. Overview
12.2.2. Description
12.2.3. Source Portfolio
12.2.4. Financials (Data as available in public domain and/or on paid databases)
12.2.5. Recent Developments
12.3. Olam International
12.3.1. Overview
12.3.2. Description
12.3.3. Source Portfolio
12.3.4. Financials (Data as available in public domain and/or on paid databases)
12.3.5. Recent Developments
12.4. Fuji Oil Co. Ltd.
12.4.1. Overview
12.4.2. Description
12.4.3. Source Portfolio
12.4.4. Financials (Data as available in public domain and/or on paid databases)
12.4.5. Recent Developments
12.5. ECOM Agroindustrial Corporation Ltd.
12.5.1. Overview
12.5.2. Description
12.5.3. Source Portfolio
12.5.4. Financials (Data as available in public domain and/or on paid databases)
12.5.5. Recent Developments
12.6. Cocoa Processing Co. Ltd.
12.6.1. Overview
12.6.2. Description
12.6.3. Source Portfolio
12.6.4. Financials (Data as available in public domain and/or on paid databases)
12.6.5. Recent Developments
12.7. Touton S.A.
12.7.1. Overview
12.7.2. Description
12.7.3. Source Portfolio
12.7.4. Financials (Data as available in public domain and/or on paid databases)
12.7.5. Recent Developments
12.8. Niche Cocoa Industry Ltd.
12.8.1. Overview
12.8.2. Description
12.8.3. Source Portfolio
12.8.4. Financials (Data as available in public domain and/or on paid databases)
12.8.5. Recent Developments
12.9. BD Associates Ghana Ltd.
12.9.1. Overview
12.9.2. Description
12.9.3. Source Portfolio
12.9.4. Financials (Data as available in public domain and/or on paid databases)
12.9.5. Recent Developments
12.10. Plot Enterprise Ghana Ltd.
12.10.1. Overview
12.10.2. Description
12.10.3. Source Portfolio
12.10.4. Financials (Data as available in public domain and/or on paid databases)
12.10.5. Recent Developments
13. Appendix

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