Global Cocoa Market Size, Share & Trends Analysis Report By Application, By Product Type (Cocoa Beans, Cocoa Powder & Cake, Cocoa Butter, Chocolate, and Others), By Regional Outlook and Forecast, 2023 - 2030

Global Cocoa Market Size, Share & Trends Analysis Report By Application, By Product Type (Cocoa Beans, Cocoa Powder & Cake, Cocoa Butter, Chocolate, and Others), By Regional Outlook and Forecast, 2023 - 2030


The Global Cocoa Market size is expected to reach $38.3 billion by 2030, rising at a market growth of 4.8% CAGR during the forecast period. In the year 2022, the market attained a volume of 3,563.6 Kilo Tonnes, experiencing a growth of 4.8% (2019-2022).

Cocoa powder & cake is rich in antioxidants, including flavonoids, associated with various health benefits. Therefore, the powder & cake segment captured $6,635.2 million revenue in the market in 2022. As consumers become more health-conscious, the demand for such products with potential nutritional advantages continues to rise. This powder & cake serves as a natural colorant in food and beverage products.

Premium and artisanal chocolates prioritize high-quality cocoa content. Consumers are willing to pay a premium for products that use fine cocoa beans, contributing to a market segment that values the authenticity and richness of the product used in the chocolate-making process. Artisanal chocolates are often crafted using traditional, hands-on techniques. Therefore, the market is expanding significantly due to the expansion of premiumization and artisanal products.

Additionally, integrating agroforestry into its cultivation involves planting shade trees alongside these trees. This provides a natural habitat for biodiversity, improves soil health, reduces erosion, enhances water retention, and promotes sustainable land management. Thus, because of the growth of climate-smart agriculture, the market is anticipated to increase significantly.

However, Small farmers may face difficulties accessing the financial resources needed for initial investments in its cultivation. High entry barriers, including the cost of inputs, land, and equipment, can constrain the ability of small farmers to establish or expand their farms. Thus, high entry barriers for small farmers can slow down the growth of the market.

By Application Analysis

Based on application, the market is classified into confectionery, food & beverages, cosmetics, and pharmaceuticals. The food & beverages segment acquired 32.9% revenue share in the market in 2022. This powder and cocoa-based ingredients produce chocolate-flavored ice creams, frozen yogurts, and other desserts. The inclusion of this enhances the taste and texture of these treats.

By Product Type Analysis

By product type, the market is categorized into cocoa beans, cocoa butter, cocoa powder & cake, chocolate, and others. In 2022, the cocoa beans segment held 35.2% revenue share in the market. A common ingredient in baking and cooking, cocoa powder improves the flavor of many recipes, such as cakes, brownies, cookies, and savory dishes. Its rich, chocolaty flavor enhances sweet and savory culinary creations.

By Regional Analysis

Region-wise, the market is analysed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the Europe region led the market by generating 35.4% revenue share. Europe has a rich tradition and culture of chocolate consumption. Chocolate has long been a part of European culinary heritage, and the appreciation for high-quality cocoa and chocolate products continues to drive the industry forward.

Recent Strategies Deployed in the Market
  • Sep-2023: Cargill, Incorporated came into partnership with Nestlé S.A., a Swiss multinational food and drink processing conglomerate corporation. Through this partnership, Cargill, Incorporated would transform cocoa shells into a fertilizer with low carbon content.
  • Aug-2023: Meiji Holdings Co., Ltd. Introduced "inedible cacao brand". The Cacao brand has launched eight products, including accessory cases, paper cup holders, and flower vases, through collaborations with various manufacturers and entities.
  • May-2023: The Barry Callebaut Group came into partnership with Maersk, a Danish shipping and logistics company. Through this partnership, The Barry Callebaut Group would construct and manage a newly designed cocoa bean storage and distribution facility in Malaysia.
  • Jan-2023: Cargill, Incorporated came into partnership with Blendtek Ingredients, a leading supplier of ingredients, proprietary blends, functional formulas, and development solutions for food manufacturers. Through this partnership, Cargill, Incorporated would enhance its distribution network across Canada with Blendtek’s locally stocked distribution capabilities.
  • Aug-2021: Cargill, Incorporated took over Aalst Chocolate Pte Ltd., a food and beverage manufacturing company. Through this acquisition, Cargill, Incorporated would notably increase Cargill's presence in the Asia-Pacific region by incorporating chocolate into its existing range of cocoa products, which are already distributed across the area.
List of Key Companies Profiled
  • The Barry Callebaut Group
  • JB Foods Limited
  • Archer Daniels Midland Company
  • Cargill, Incorporated
  • Ciranda, Inc.
  • Nestle S.A
  • Mars, Inc. (Kind LLC)
  • Meiji Holdings Co., Ltd.
  • Olam International Limited
  • The Hershey Company (Hershey Trust Company)
Global Cocoa Market Report Segmentation

By Application (Volume, Kilo Tonnes, USD Billion, 2019-2030)
  • Confectionery
  • Food & Beverages
  • Cosmetics
  • Pharmaceutical
By Product Type (Volume, Kilo Tonnes, USD Billion, 2019-2030)
  • Cocoa Beans
  • Cocoa Powder & Cake
  • Cocoa Butter
  • Chocolate
  • Others
By Geography (Volume, Kilo Tonnes, USD Billion, 2019-2030)
  • North America
  • US
  • Canada
  • Mexico
  • Rest of North America
  • Europe
  • Germany
  • UK
  • France
  • Russia
  • Spain
  • Italy
  • Rest of Europe
  • Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Malaysia
  • Rest of Asia Pacific
  • LAMEA
  • Brazil
  • Argentina
  • UAE
  • Saudi Arabia
  • South Africa
  • Nigeria
  • Rest of LAMEA


Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Global Cocoa Market, by Application
1.4.2 Global Cocoa Market, by Product Type
1.4.3 Global Cocoa Market, by Geography
1.5 Methodology for the research
Chapter 2. Market at a Glance
2.1 Key Highlights
Chapter 3. Market Overview
3.1 Introduction
3.1.1 Overview
3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
3.2.1 Market Drivers
3.2.2 Market Opportunities
3.2.3 Market Restraints
3.2.4 Market Challenges
3.3 Porter Five Forces Analysis
Chapter 4. Strategies Deployed in Cocoa Market.
Chapter 5. Global Cocoa Market, by Application
5.1 Global Confectionery Market, by Region
5.2 Global Food & Beverages Market, by Region
5.3 Global Cosmetics Market, by Region
5.4 Global Pharmaceutical Market, by Region
Chapter 6. Global Cocoa Market, by Product Type
6.1 Global Cocoa Beans Market, by Region
6.2 Global Cocoa Powder & Cake Market, by Region
6.3 Global Cocoa Butter Market, by Region
6.4 Global Chocolate Market, by Region
6.5 Global Others Market, by Region
Chapter 7. Global Cocoa Market, by Region
7.1 North America Cocoa Market
7.1.1 North America Cocoa Market, by Application
7.1.1.1 North America Confectionery Market, by Country
7.1.1.2 North America Food & Beverages Market, by Country
7.1.1.3 North America Cosmetics Market, by Country
7.1.1.4 North America Pharmaceutical Market, by Country
7.1.2 North America Cocoa Market, by Product Type
7.1.2.1 North America Cocoa Beans Market, by Country
7.1.2.2 North America Cocoa Powder & Cake Market, by Country
7.1.2.3 North America Cocoa Butter Market, by Country
7.1.2.4 North America Chocolate Market, by Country
7.1.2.5 North America Others Market, by Country
7.1.3 North America Cocoa Market, by Country
7.1.3.1 US Cocoa Market
7.1.3.1.1 US Cocoa Market, by Application
7.1.3.1.2 US Cocoa Market, by Product Type
7.1.3.2 Canada Cocoa Market
7.1.3.2.1 Canada Cocoa Market, by Application
7.1.3.2.2 Canada Cocoa Market, by Product Type
7.1.3.3 Mexico Cocoa Market
7.1.3.3.1 Mexico Cocoa Market, by Application
7.1.3.3.2 Mexico Cocoa Market, by Product Type
7.1.3.4 Rest of North America Cocoa Market
7.1.3.4.1 Rest of North America Cocoa Market, by Application
7.1.3.4.2 Rest of North America Cocoa Market, by Product Type
7.2 Europe Cocoa Market
7.2.1 Europe Cocoa Market, by Application
7.2.1.1 Europe Confectionery Market, by Country
7.2.1.2 Europe Food & Beverages Market, by Country
7.2.1.3 Europe Cosmetics Market, by Country
7.2.1.4 Europe Pharmaceutical Market, by Country
7.2.2 Europe Cocoa Market, by Product Type
7.2.2.1 Europe Cocoa Beans Market, by Country
7.2.2.2 Europe Cocoa Powder & Cake Market, by Country
7.2.2.3 Europe Cocoa Butter Market, by Country
7.2.2.4 Europe Chocolate Market, by Country
7.2.2.5 Europe Others Market, by Country
7.2.3 Europe Cocoa Market, by Country
7.2.3.1 Germany Cocoa Market
7.2.3.1.1 Germany Cocoa Market, by Application
7.2.3.1.2 Germany Cocoa Market, by Product Type
7.2.3.2 UK Cocoa Market
7.2.3.2.1 UK Cocoa Market, by Application
7.2.3.2.2 UK Cocoa Market, by Product Type
7.2.3.3 France Cocoa Market
7.2.3.3.1 France Cocoa Market, by Application
7.2.3.3.2 France Cocoa Market, by Product Type
7.2.3.4 Russia Cocoa Market
7.2.3.4.1 Russia Cocoa Market, by Application
7.2.3.4.2 Russia Cocoa Market, by Product Type
7.2.3.5 Spain Cocoa Market
7.2.3.5.1 Spain Cocoa Market, by Application
7.2.3.5.2 Spain Cocoa Market, by Product Type
7.2.3.6 Italy Cocoa Market
7.2.3.6.1 Italy Cocoa Market, by Application
7.2.3.6.2 Italy Cocoa Market, by Product Type
7.2.3.7 Rest of Europe Cocoa Market
7.2.3.7.1 Rest of Europe Cocoa Market, by Application
7.2.3.7.2 Rest of Europe Cocoa Market, by Product Type
7.3 Asia Pacific Cocoa Market
7.3.1 Asia Pacific Cocoa Market, by Application
7.3.1.1 Asia Pacific Confectionery Market, by Country
7.3.1.2 Asia Pacific Food & Beverages Market, by Country
7.3.1.3 Asia Pacific Cosmetics Market, by Country
7.3.1.4 Asia Pacific Pharmaceutical Market, by Country
7.3.2 Asia Pacific Cocoa Market, by Product Type
7.3.2.1 Asia Pacific Cocoa Beans Market, by Country
7.3.2.2 Asia Pacific Cocoa Powder & Cake Market, by Country
7.3.2.3 Asia Pacific Cocoa Butter Market, by Country
7.3.2.4 Asia Pacific Chocolate Market, by Country
7.3.2.5 Asia Pacific Others Market, by Country
7.3.3 Asia Pacific Cocoa Market, by Country
7.3.3.1 China Cocoa Market
7.3.3.1.1 China Cocoa Market, by Application
7.3.3.1.2 China Cocoa Market, by Product Type
7.3.3.2 Japan Cocoa Market
7.3.3.2.1 Japan Cocoa Market, by Application
7.3.3.2.2 Japan Cocoa Market, by Product Type
7.3.3.3 India Cocoa Market
7.3.3.3.1 India Cocoa Market, by Application
7.3.3.3.2 India Cocoa Market, by Product Type
7.3.3.4 South Korea Cocoa Market
7.3.3.4.1 South Korea Cocoa Market, by Application
7.3.3.4.2 South Korea Cocoa Market, by Product Type
7.3.3.5 Australia Cocoa Market
7.3.3.5.1 Australia Cocoa Market, by Application
7.3.3.5.2 Australia Cocoa Market, by Product Type
7.3.3.6 Malaysia Cocoa Market
7.3.3.6.1 Malaysia Cocoa Market, by Application
7.3.3.6.2 Malaysia Cocoa Market, by Product Type
7.3.3.7 Rest of Asia Pacific Cocoa Market
7.3.3.7.1 Rest of Asia Pacific Cocoa Market, by Application
7.3.3.7.2 Rest of Asia Pacific Cocoa Market, by Product Type
7.4 LAMEA Cocoa Market
7.4.1 LAMEA Cocoa Market, by Application
7.4.1.1 LAMEA Confectionery Market, by Country
7.4.1.2 LAMEA Food & Beverages Market, by Country
7.4.1.3 LAMEA Cosmetics Market, by Country
7.4.1.4 LAMEA Pharmaceutical Market, by Country
7.4.2 LAMEA Cocoa Market, by Product Type
7.4.2.1 LAMEA Cocoa Beans Market, by Country
7.4.2.2 LAMEA Cocoa Powder & Cake Market, by Country
7.4.2.3 LAMEA Cocoa Butter Market, by Country
7.4.2.4 LAMEA Chocolate Market, by Country
7.4.2.5 LAMEA Others Market, by Country
7.4.3 LAMEA Cocoa Market, by Country
7.4.3.1 Brazil Cocoa Market
7.4.3.1.1 Brazil Cocoa Market, by Application
7.4.3.1.2 Brazil Cocoa Market, by Product Type
7.4.3.2 Argentina Cocoa Market
7.4.3.2.1 Argentina Cocoa Market, by Application
7.4.3.2.2 Argentina Cocoa Market, by Product Type
7.4.3.3 UAE Cocoa Market
7.4.3.3.1 UAE Cocoa Market, by Application
7.4.3.3.2 UAE Cocoa Market, by Product Type
7.4.3.4 Saudi Arabia Cocoa Market
7.4.3.4.1 Saudi Arabia Cocoa Market, by Application
7.4.3.4.2 Saudi Arabia Cocoa Market, by Product Type
7.4.3.5 South Africa Cocoa Market
7.4.3.5.1 South Africa Cocoa Market, by Application
7.4.3.5.2 South Africa Cocoa Market, by Product Type
7.4.3.6 Nigeria Cocoa Market
7.4.3.6.1 Nigeria Cocoa Market, by Application
7.4.3.6.2 Nigeria Cocoa Market, by Product Type
7.4.3.7 Rest of LAMEA Cocoa Market
7.4.3.7.1 Rest of LAMEA Cocoa Market, by Application
7.4.3.7.2 Rest of LAMEA Cocoa Market, by Product Type
Chapter 8. Company Profiles
8.1 The Barry Callebaut Group
8.1.1 Company Overview
8.1.2 Financial Analysis
8.1.3 Segmental and Regional Analysis
8.1.4 Research & Development Expense
8.1.5 Recent strategies and developments:
8.1.5.1 Partnerships, Collaborations, and Agreements:
8.1.6 SWOT Analysis
8.2 JB Foods Limited
8.2.1 Company Overview
8.2.2 Financial Analysis
8.2.3 Regional Analysis
8.2.4 SWOT Analysis
8.3 Archer Daniels Midland Company
8.3.1 Company Overview
8.3.2 Financial Analysis
8.3.3 Segmental and Regional Analysis
8.3.4 Research & Development Expense
8.4 Cargill, Incorporated
8.4.1 Company Overview
8.4.2 Recent strategies and developments:
8.4.2.1 Partnerships, Collaborations, and Agreements:
8.4.2.2 Acquisition and Mergers:
8.4.3 SWOT Analysis
8.5 Ciranda, Inc.
8.5.1 Company Overview
8.5.2 SWOT Analysis
8.6 Nestle S.A
8.6.1 Company Overview
8.6.2 Financial Analysis
8.6.3 Segmental and Regional Analysis
8.6.4 Research & Development Expenses
8.6.5 SWOT Analysis
8.7 Mars, Inc. (Kind LLC)
8.7.1 Company Overview
8.7.2 SWOT Analysis
8.8 Meiji Holdings Co., Ltd.
8.8.1 Company Overview
8.8.2 Financial Analysis
8.8.3 Segmental Analysis
8.8.4 Research & Development Expense
8.8.5 Recent strategies and developments:
8.8.5.1 Product Launches and Product Expansions:
8.8.6 SWOT Analysis
8.9 Olam International Limited
8.9.1 Company Overview
8.9.2 Financial Analysis
8.9.3 Segmental and Regional Analysis
8.9.4 SWOT Analysis
8.10. The Hershey Company (Hershey Trust Company)
8.10.1 Company overview
8.10.2 Financial Analysis
8.10.3 Segmental and Regional Analysis
8.10.4 SWOT Analysis
Chapter 9. Winning Imperatives for Cocoa Market

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