Middle East & Africa Cocoa Derivatives Market Forecast to 2028- Regional Analysis- by Type (Cocoa Butter, Cocoa Beans, Cocoa Powder, and Others), Category (Organic and Conventional), and Application [Food and Beverages (Bakery and Confectionery, Dairy and Frozen Desserts, Beverages, and Other Food and Beverages), Personal Care, and Other]
The Middle East & Africa Cocoa Derivatives Market is expected to grow from US$ 919.43 million in 2022 to US$ 1,287.80 million by 2028. It is estimated to grow at a CAGR of 5.8% from 2022 to 2028.
Improvement Rising Demand for Cocoa-Based Confectioneries Drive Middle East & Africa Cocoa Derivatives Market
Cocoa is increasingly being used in formulating different beverages and confectionery products, such as milkshakes, cakes, croissants, and hot cocoa. The influx of cocoa-based confectioneries has increased tremendously in developed and developing economies in the last several years due to growing consumer spending on various indulgent confectioneries, particularly chocolate-based products, and the surging popularity of molded and countline chocolates. Moreover, key manufacturers are adding new chocolate types, such as dark chocolate and ruby chocolate, to their portfolio. In February 2022, Hershey's created the limited-edition Celebrate SHE cocoa-based bars to commemorate all women and girls. The brand highlighted “SHE” in the center of the milk cocoa-based bar. The launch of such innovative cocoa-based confectioneries would further accelerate the Middle East & Africa cocoa derivatives market growth. Moreover, acceptance of chocolates, consistency in quality, attractive packaging, rising urban influence on youth, high disposable incomes, and sweet tooth together are the other prominent aspects that bolster the popularity of cocoa-based confectioneries. The flourishing trend of gifting chocolates during festivities also favors the demand for cocoa derivatives. Thus, the overall increase in demand for cocoa-based confectioneries drives the growth of the Middle East & Africa cocoa derivatives market.
Middle East & Africa Cocoa Derivatives Market Overview
The Middle East & Africa cocoa derivatives market is segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. According to a report by the International Cocoa Organization (ICCO), production of cocoa beans is projected to increase by ~11.1% to reach 3.975 million tons in Africa, and Ghana reported the purchase of 1.03 million tons of cocoa beans on August 19, 2021, representing the country's all times highest crop size. Hence, due to increased cocoa production in Africa, by 2022, processing activities are anticipated to expand by 0.5% to 1.001 million tons. The western influence on snack preferences, particularly with the increasing popularity of French snacks such as pastries and cakes, has inspired chefs in the Middle East & Africa to develop innovative and creative baking methods and unique recipes. The UAE has experienced a surge in the number of French bakeries, including La Patisserie des Rêves, Aubaine, Pierre Hermé, and Dalloyau, as well as pastry chef schools such as Richemont Masterbaker, Dubai. These developments are likely to create a high demand for cocoa derivatives in the region in the future. Female consumers in Saudi Arabia are highly aware of organic cosmetics. According to a report published by Kacey Cullinay in January 2021, 81.8% of the population in the Middle East & Africa strongly agree that cosmetics containing organic ingredients are better for the environment, and 56.4% would prefer to use organic cosmetics in the future. Therefore, increasing awareness regarding cosmetics products incorporated with organic ingredients is likely to accelerate the growth of the Middle East & Africa cocoa derivatives market in the Middle East & Africa in the coming years.
Middle East & Africa Cocoa Derivatives Market Revenue and Forecast to 2028 (US$ Million)
Middle East & Africa Cocoa Derivatives Market Segmentation
The Middle East & Africa Cocoa Derivatives Market is segmented into type, category, application, and country.
Based on type, the Middle East & Africa Cocoa Derivatives Market is segmented into cocoa butter, cocoa beans, cocoa powder, and others. In 2022, the cocoa beans segment registered a largest share in the Middle East & Africa cocoa derivatives market.
Based on category, the Middle East & Africa Cocoa Derivatives Market is bifurcated into organic and conventional. In 2022, the conventional segment registered a larger share in the Middle East & Africa cocoa derivatives market.
Based on application, the Middle East & Africa Cocoa Derivatives Market is segmented into food and beverages, personal care, and other. In 2022, the food and beverages segment registered a largest share in the Middle East & Africa cocoa derivatives market. The food and beverages segment is further segmented into bakery and confectionery, dairy and frozen desserts, beverages, and other food and beverages.
Based on country, the Middle East & Africa Cocoa Derivatives Market is segmented into Saudi Arabia, the UAE, South Africa, and the Rest of Middle East and Africa. In 2022, the Rest of Middle East & Africa segment registered a largest share in the Middle East & Africa cocoa derivatives market.
Altınmarka Gıda San ve Tic AS, Barry Callebaut AG, Cargill, Inc, Indcre SA, JB Foods Ltd, MONERA COCOA SA, Natra SA, and Olam Groupe Ltd are the leading companies operating in the Middle East & Africa cocoa derivatives market.
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Scrutinize in-depth Middle East & Africa market trends and outlook coupled with the factors driving the cocoa derivative market, as well as those hindering it
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- 1. Introduction
- 1.1 Study Scope
- 1.2 The Insight Partners Research Report Guidance
- 1.3 Market Segmentation
- 1.3.1 Middle East & Africa Cocoa Derivatives Market, by Type
- 1.3.2 Middle East & Africa Cocoa Derivatives Market, by Category
- 1.3.3 Middle East & Africa Cocoa Derivatives Market, by Application
- 1.3.4 Middle East & Africa Cocoa Derivatives Market, by Country
- 2. Key Takeaways
- 3. Research Methodology
- 3.1 Scope of the Study
- 3.2 Research Methodology
- 3.2.1 Data Collection:
- 3.2.2 Primary Interviews:
- 3.2.3 Hypothesis formulation:
- 3.2.4 Macro-economic factor analysis:
- 3.2.5 Developing base number:
- 3.2.6 Data Triangulation:
- 3.2.7 Country level data:
- 4. Middle East & Africa Cocoa Derivatives Market Landscape
- 4.1 Market Overview
- 4.2 Porter's Five Forces Analysis
- 4.2.1 Bargaining Power of Suppliers
- 4.2.2 Bargaining Power of Buyers
- 4.2.3 Threat of New Entrants
- 4.2.4 Intensity of Competitive Rivalry
- 4.2.5 Threat of Substitutes
- 4.3 Ecosystem Analysis
- 4.3.1 Raw Material Suppliers:
- 4.3.2 Manufacturers:
- 4.3.3 Distributors or Suppliers:
- 4.3.4 End Use Industry:
- 4.4 Expert Opinion
- 5. Middle East & Africa Cocoa Derivatives Market — Key Market Dynamics
- 5.1 Market Drivers
- 5.1.1 Improvement Rising Demand for Cocoa-Based Confectioneries
- 5.1.2 Utilization of Cocoa as Sustainable Beauty Ingredient in Cosmetics Industry
- 5.2 Market Restraints
- 5.2.1 Fluctuations in Prices of Cocoa
- 5.3 Opportunities
- 5.3.1 Demand for Organic and Fairtrade Cocoa Derivatives
- 5.4 Future Trends
- 5.4.1 Clean-Label Products
- 5.5 Impact Analysis
- 6. Cocoa Derivatives – Middle East & Africa Market Analysis
- 6.1 Middle East & Africa Cocoa Derivatives Market –Revenue and Forecast to 2028 (US$ Million)
- 7. Middle East & Africa Cocoa Derivatives Market Analysis – By Type
- 7.1 Overview
- 7.2 Middle East & Africa Cocoa Derivatives Market, By Type (2021 and 2028)
- 7.3 Cocoa Butter
- 7.3.1 Overview
- 7.3.2 Cocoa Butter: Middle East & Africa Cocoa Derivatives Market – Revenue and Forecast to 2028 (US$ Million)
- 7.4 Cocoa Beans
- 7.4.1 Overview
- 7.4.2 Cocoa Beans: Middle East & Africa Cocoa Derivatives Market – Revenue and Forecast to 2028 (US$ Million)
- 7.5 Cocoa Powder
- 7.5.1 Overview
- 7.5.2 Cocoa Powder: Middle East & Africa Cocoa Derivatives Market – Revenue and Forecast to 2028 (US$ Million)
- 7.6 Others
- 7.6.1 Overview
- 7.6.2 Others: Middle East & Africa Cocoa Derivatives Market – Revenue and Forecast to 2028 (US$ Million)
- 8. Middle East & Africa Cocoa Derivatives Market Analysis – By Category
- 8.1 Overview
- 8.2 Middle East & Africa Cocoa Derivatives Market, By Category (2021 and 2028)
- 8.3 Organic
- 8.3.1 Overview
- 8.3.2 Organic: Middle East & Africa Cocoa Derivatives Market – Revenue and Forecast to 2028 (US$ Million)
- 8.4 Conventional
- 8.4.1 Overview
- 8.4.2 Conventional: Middle East & Africa Cocoa Derivatives Market – Revenue and Forecast to 2028 (US$ Million)
- 9. Middle East & Africa Cocoa Derivatives Market Analysis – By Application
- 9.1 Overview
- 9.2 Middle East & Africa Cocoa Derivatives Market, By Application (2021 and 2028)
- 9.3 Food and Beverages
- 9.3.1 Overview
- 9.3.2 Food and Beverages: Middle East & Africa Cocoa Derivatives Market – Revenue and Forecast to 2028 (US$ Million)
- 9.3.3 Bakery & Confectionery
- 9.3.3.1 Overview
- 9.3.4 Dairy & Frozen Desserts
- 9.3.4.1 Overview
- 9.3.5 Beverages
- 9.3.5.1 Overview
- 9.3.6 Others
- 9.3.6.1 Overview
- 9.4 Personal Care
- 9.4.1 Overview
- 9.4.2 Personal Care: Middle East & Africa Cocoa Derivatives Market – Revenue and Forecast to 2028 (US$ Million)
- 9.5 Others
- 9.5.1 Overview
- 9.5.2 Others: Middle East & Africa Cocoa Derivatives Market – Revenue and Forecast to 2028 (US$ Million)
- 10. Middle East & Africa Cocoa Derivatives Market – Country Analysis
- 10.1 Overview
- 10.1.1 Middle East & Africa: Cocoa Derivatives Market, by Key Country
- 10.1.1.1 Saudi Arabia: Cocoa Derivatives Market –Revenue and Forecast to 2028 (US$ Million)
- 10.1.1.1.1 Saudi Arabia: Cocoa Derivatives Market, By Type
- 10.1.1.1.2 Saudi Arabia: Cocoa Derivatives Market, by Category
- 10.1.1.1.3 Saudi Arabia: Cocoa Derivatives Market, by Application
- 10.1.1.2 UAE: Cocoa Derivatives Market –Revenue and Forecast to 2028 (US$ Million)
- 10.1.1.2.1 UAE: Cocoa Derivatives Market, By Type
- 10.1.1.2.2 UAE: Cocoa Derivatives Market, by Category
- 10.1.1.2.3 UAE: Cocoa Derivatives Market, by Application
- 10.1.1.3 South Africa: Cocoa Derivatives Market –Revenue and Forecast to 2028 (US$ Million)
- 10.1.1.3.1 South Africa: Cocoa Derivatives Market, By Type
- 10.1.1.3.2 South Africa: Cocoa Derivatives Market, by Category
- 10.1.1.3.3 South Africa: Cocoa Derivatives Market, by Application
- 10.1.1.4 Rest of Middle East & Africa: Cocoa Derivatives Market –Revenue and Forecast to 2028 (US$ Million)
- 10.1.1.4.1 Rest of Middle East & Africa: Cocoa Derivatives Market, by Type
- 10.1.1.4.2 Rest of Middle East & Africa: Cocoa Derivatives Market, by Category
- 10.1.1.4.3 Rest of Middle East & Africa: Cocoa Derivatives Market, by Application
- 11. Industry Landscape
- 11.1 Product launch
- 11.2 Expansion
- 12. Company Profiles
- 12.1 Olam Group Ltd
- 12.1.1 Key Facts
- 12.1.2 Business Description
- 12.1.3 Products and Services
- 12.1.4 Financial Overview
- 12.1.5 SWOT Analysis
- 12.1.6 Key Developments
- 12.2 Indcre SA
- 12.2.1 Key Facts
- 12.2.2 Business Description
- 12.2.3 Products and Services
- 12.2.4 Financial Overview
- 12.2.5 SWOT Analysis
- 12.2.6 Key Developments
- 12.3 Cargill Inc
- 12.3.1 Key Facts
- 12.3.2 Business Description
- 12.3.3 Products and Services
- 12.3.4 Financial Overview
- 12.3.5 SWOT Analysis
- 12.3.6 Key Developments
- 12.4 Natra SA
- 12.4.1 Key Facts
- 12.4.2 Business Description
- 12.4.3 Products and Services
- 12.4.4 Financial Overview
- 12.4.5 Analysis
- 12.4.6 Key Developments
- 12.5 JB Foods Ltd
- 12.5.1 Key Facts
- 12.5.2 Business Description
- 12.5.3 Products and Services
- 12.5.4 Financial Overview
- 12.5.5 SWOT Analysis
- 12.5.6 Key Developments
- 12.6 Barry Callebaut AG
- 12.6.1 Key Facts
- 12.6.2 Business Description
- 12.6.3 Products and Services
- 12.6.4 Financial Overview
- 12.6.5 SWOT Analysis
- 12.6.6 Key Developments
- 12.7 Moner Cocoa SA
- 12.7.1 Key Facts
- 12.7.2 Business Description
- 12.7.3 Products and Services
- 12.7.4 Financial Overview
- 12.7.5 SWOT Analysis
- 12.7.6 Key Developments
- 12.8 Altınmarka Gıda San ve Tic AS
- 12.8.1 Key Facts
- 12.8.2 Business Description
- 12.8.3 Products and Services
- 12.8.4 Financial Overview
- 12.8.5 SWOT Analysis
- 12.8.6 Key Developments
- 13. Appendix
- 13.1 About The Insight Partners
- 13.2 Glossary of Terms
- LIST OF TABLES
- Table 1. Middle East & Africa Cocoa Derivatives Market –Revenue and Forecast to 2028 (US$ Million)
- Table 2. Saudi Arabia Cocoa Derivatives Market, By Type – Revenue and Forecast to 2028 (US$ Million)
- Table 3. Saudi Arabia Cocoa Derivatives Market, by Category – Revenue and Forecast to 2028 (US$ Million)
- Table 4. Saudi Arabia Cocoa Derivatives Market, by Application – Revenue and Forecast to 2028 (US$ Million)
- Table 5. Saudi Arabia Cocoa Derivatives market, by Food and Beverages – Revenue and Forecast to 2028 (USD Million)
- Table 6. UAE Cocoa Derivatives Market, By Type – Revenue and Forecast to 2028 (US$ Million)
- Table 7. UAE Cocoa Derivatives Market, by Category – Revenue and Forecast to 2028 (US$ Million)
- Table 8. UAE Cocoa Derivatives Market, by Application – Revenue and Forecast to 2028 (US$ Million)
- Table 9. United Arab Emirates Cocoa Derivatives market, by Food and Beverages – Revenue and Forecast to 2028 (USD Million)
- Table 10. South Africa Cocoa Derivatives Market, By Type – Revenue and Forecast to 2028 (US$ Million)
- Table 11. South Africa Cocoa Derivatives Market, by Category – Revenue and Forecast to 2028 (US$ Million)
- Table 12. South Africa Cocoa Derivatives Market, by Application – Revenue and Forecast to 2028 (US$ Million)
- Table 13. South Africa Cocoa Derivatives market, by Food and Beverages – Revenue and Forecast to 2028 (USD Million)
- Table 14. Rest of Middle East & Africa Cocoa Derivatives Market, by Type – Revenue and Forecast to 2028 (US$ Million)
- Table 15. Rest of Middle East & Africa Cocoa Derivatives Market, by Category – Revenue and Forecast to 2028 (US$ Million)
- Table 16. Rest of Middle East & Africa Cocoa Derivatives Market, by Application – Revenue and Forecast to 2028 (US$ Million)
- Table 17. Rest of Middle East and Africa Cocoa Derivatives market, by Food and Beverages – Revenue and Forecast to 2028 (USD Million)
- Table 18. Glossary of Terms, Middle East & Africa Cocoa Derivatives Market
- LIST OF FIGURES
- Figure 1. Middle East & Africa Cocoa Derivatives Market Segmentation
- Figure 2. Middle East & Africa Cocoa Derivatives Market Segmentation: By Country
- Figure 3. Middle East & Africa Cocoa Derivatives Market Overview
- Figure 4. Middle East & Africa Cocoa Derivatives Market, By Category
- Figure 5. Middle East & Africa Cocoa Derivatives Market, by Country
- Figure 6. Porter's Five Forces Analysis
- Figure 7. Ecosystem: Middle East & Africa Cocoa Derivatives Market
- Figure 8. Expert Opinion
- Figure 9. Middle East & Africa Cocoa Derivatives Market Impact Analysis of Drivers and Restraints
- Figure 10. Middle East & Africa Cocoa Derivatives Market – Revenue and Forecast to 2028 (US$ Million)
- Figure 11. Middle East & Africa Cocoa Derivatives Market Revenue Share, By Type (2021 and 2028)
- Figure 12. Cocoa Butter: Middle East & Africa Cocoa Derivatives Market – Revenue and Forecast To 2028 (US$ Million)
- Figure 13. Cocoa Beans: Middle East & Africa Cocoa Derivatives Market – Revenue and Forecast To 2028 (US$ Million)
- Figure 14. Cocoa Powder: Middle East & Africa Cocoa Derivatives Market – Revenue and Forecast To 2028 (US$ Million)
- Figure 15. Others: Middle East & Africa Cocoa Derivatives Market – Revenue and Forecast To 2028 (US$ Million)
- Figure 16. Middle East & Africa Cocoa Derivatives Market Revenue Share, By Category (2021 and 2028)
- Figure 17. Organic: Middle East & Africa Cocoa Derivatives Market – Revenue and Forecast To 2028 (US$ Million)
- Figure 18. Conventional: Middle East & Africa Cocoa Derivatives Market – Revenue and Forecast To 2028 (US$ Million)
- Figure 19. Middle East & Africa Cocoa Derivatives Market Revenue Share, By Application (2021 and 2028)
- Figure 20. Food and Beverages: Middle East & Africa Cocoa Derivatives Market – Revenue and Forecast To 2028 (US$ Million)
- Figure 21. Personal Care: Middle East & Africa Cocoa Derivatives Market – Revenue and Forecast To 2028 (US$ Million)
- Figure 22. Others: Middle East & Africa Cocoa Derivatives Market – Revenue and Forecast To 2028 (US$ Million)
- Figure 23. Middle East & Africa: Cocoa Derivatives Market, By key Country – Revenue (2021) (US$ Million)
- Figure 24. Middle East & Africa: Cocoa Derivatives Market Revenue Share, by Key Country (2021 and 2028)
- Figure 25. Saudi Arabia: Cocoa Derivatives Market –Revenue and Forecast to 2028 (US$ Million)
- Figure 26. UAE: Cocoa Derivatives Market –Revenue and Forecast to 2028 (US$ Million)
- Figure 27. South Africa: Cocoa Derivatives Market –Revenue and Forecast to 2028 (US$ Million)
- Figure 28. Rest of Middle East & Africa: Cocoa Derivatives Market –Revenue and Forecast to 2028 (US$ Million)
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