Cocoa Products Market – Global Industry Analysis and Forecast (2023-2029)

TheCocoa Products Market reached a value of US$ 27.05 Bn. in 2022. The market is expected to grow at a CAGR of 3.5% during the forecast period. The market is expected to reach a value of US$ 34.42 Bn. by 2029.
Cocoa Products Market Overview:
Cocoa ammunitions are one of the by-products of cocoa beans acquired in the chocolate business. Dried and fermented cocoa beans are the main raw material for producing all sorts of cocoa goods, and cocoa shells are one of the by-products of cocoa beans obtained in the chocolate industry. There are three types of co-products produced when cocoa is processed: cocoa pod husk, cocoa bean shells, and cocoa mucilage.

Furthermore, increased disposable income, enhanced retail distribution channels, the expanding availability of foreign brands, and the usage of cocoa in snack food categories such as sweet biscuits and others are expected to contribute significantly to the market's growth. The demand for cocoa in the manufacture of scrubs, ointments, creams, facial masks, face toners, and lotions is likely to stay high.

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Cocoa Products Market Dynamics:
Market expansion will be fueled by high demand for chocolate confectionery:

Alter Eco chocolate is organic and fair-trade. They feature a large selection of dark chocolate bars. Their Dark Blackout bar, which contains 85% cocoa, is their richest chocolate. There is no sugar in this chocolate liquor, which comprises 50-58% cocoa butter (and 42-50% cocoa solids). Cacao trees are native to Central and South America, and their fruit is used to make chocolate. Pods are the fruits, and each pod contains about 40 cacao beans. To make cocoa beans, the beans are dehydrated and cooked.

However, increasing demand for products in a diversity of industrial applications, such as confectioneries and beverages, is fueling the market's development. The health assistances of cocoa products, such as blood pressure reduction, diabetes control, and the anticipation of heart disease, have augmented the use of cocoa components in dark chocolates.

The high sugar content in most cocoa-based goods has raised health concerns that are hampering the growth of the market:

Chocolate contains a lot of sugar as well as saturated fat. It's a high-energy (calorie) item, and eating too much of it might lead to weight gain, which is a risk factor for cardiovascular disease. Beans, lentils, fruit, and vegetables are all good sources of polyphenols. Minerals abound in cacao products such as unsweetened cocoa powder, nibs, and dark chocolate. Raw cacao goods that have been minimally treated contain little or no added sugar and are higher in antioxidants than those that have been substantially processed which is hampering the growth of the market.

Emphasis on organic cocoa and its nutritional value give a huge opportunity for the market:

Theobromine, found in cocoa powder, helps to reduce inflammation and protects against diseases like heart disease, cancer, and diabetes. Because cocoa is high in phytonutrients while being low in fat and sugar, the calories get from cocoa powder are full of beneficial compounds. Raw products are often less processed and healthier, as they are created from agitated, dried, unroasted cacao beans. Nonetheless, typical dark chocolate comprising at least 70% cacao is a good source of antioxidants and minerals which gives a huge opportunity for the market.

The market faces a big problem as demand for chocolate substitutes and equivalents grows:

A major market driver is a growing customer desire to know the provenance of all the components used in chocolates. The demand for dark and sugar-free chocolates has surged as a result of the growing trend of clean-label and organic products to preserve overall health and wellness. 1-ounce unsweetened baking chocolate can be replaced with the following chocolate such as 1 tablespoon vegetable oil, canola oil, or butter 3 tablespoons natural, unsweetened cocoa powder or carob powder, these substitute of chocolate is giving major challenge for the market.
Cocoa Products Market Segment Analysis:
By Product, the market is segmented into Cocoa Beans, Cocoa Butter, Cocoa Powder & Cake, Cocoa Paste & Liquor, and Cocoa Chocolate. The Cocoa Beans segment is expected to hold the highest market share in terms of revenue by 2029. The increased demand for cocoa beans to make a range of foods and beverages is the primary driver of its sales. Cocoa beans are eaten as candy and are used to flavour and cover a variety of confections and pastry products. It's high in carbohydrates and includes trace amounts of the stimulating alkaloids theobromine and caffeine, making it a great source of fast energy.

However, the Cocoa Paste & Liquor segment is expected to grow at a CAGR of 5.4% during the forecast period.  The Cocoa liquor is often referred to as cocoa paste. Cocoa liquor is also known as a cocoa mass which is a mixture of cocoa butter and cocoa solids after the grinding of cocoa nibs. Cocoa solids are the non-fat solids confined in chocolate liquor, but the term can also denote the total cocoa content.

By Application, the market is segmented into Confectionery, Food & Beverages, Cosmetics and Pharmaceuticals. The Cosmetics segment is expected to hold 42.5% of the overall market share in terms of revenue by 2029. Antioxidants in cocoa powder aid in the removal of harmful free radicals and the restoration of skin. Simply combine a tablespoon of organic cocoa powder, a tablespoon of ground oatmeal, and two teaspoons of yoghurt in a mixing bowl. It should be whisked and applied directly to clean skin which is a major factor for driving the growth of this segment.

However, the Confectionary segment is expected to grow at a CAGR of 6.6% through the forecast period. Any product intended to be enjoyed as a sweet snack and containing chocolate as stated in other ingredients is referred to as chocolate confectionery which is highly consumed by the consumers in cocoa products.
Cocoa Products Market Regional Insights:
The European region accounted for the largest market share in 2022 for the market. Due to the widespread use of products in industrial applications, Germany has the largest market share in Europe. For example, Mondelez International, Nestle, and Lindt & Sprüngli, three of the world's largest confectionery companies, use products to make chocolates with roasted cocoa beans. Apart from this, the growth is because Europe is a mature market where the retail infrastructure has remained relatively stable over time. This is due to an increase in the region's population's purchasing power, which has resulted in increased consumption of consumer goods and beverages.

However, the North American region is expected to grow at a CAGR of 7.9% during the forecast period. The United States has the largest market share due to the consumption of cocoa beans and butter in the food and beverage industry, as well as the desire for coffee flavours among American consumers.

The objective of the report is to present a comprehensive analysis of the market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The reports also help in understanding the market dynamics, structure by analyzing the market segments and projecting the market size. Clear representation of competitive analysis of key players by Technology, price, financial position, product portfolio, growth strategies, and regional presence in the market makes the report investor's guide.
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Cocoa Products Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 27.05 Bn.


Forecast Period 2023 to 2029 CAGR:
3.5%
Market Size in 2029:
US $ 34.42 Bn.


 Segments Covered:
by Product
Cocoa Beans
Butter
Powder & Cake
Paste & Liquor
Chocolate


by Application
Confectionary
Food & Beverages
Cosmetics
Pharmaceuticals


by Type of Cocoa
Forastero
Trinitario
Criollo cocoa



Cocoa Products Market by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (razil, Argentina Rest of South America)
Cocoa Products Market Key Players are:
1 Kraft Foods Group
2 Blommer Chocolate Company
3 Tradin Organic Agriculture
4 Touton
5 Ciranda
6 Artisan Confections
7 PASCHA Chocolate
8 Internatural Foods
9 NORD COCOA
10 Wilbur Chocolate Company Inc.
11 Petra Foods Limited
12 Belcolade NV
13 Dutch Cocoa B.V
14 Cargill Cocoa & Chocolate
15 Ferrero S.P.A.

Frequently Asked Questions:

1] What segments are covered in the  Market report?
Ans. The segments covered in the Market report are based on Product and Application.

2] Which region is expected to hold the highest share in the Market?
Ans. The European region is expected to hold the highest share in the Market.

3] What is the market size of the Market by 2029?
Ans. The market size of the Market is expected to be 34.42 Bn. by 2029.

4] What is the forecast period for the Market?
Ans. The forecast period for the  Market is 2023-2029.

5] What was the market size of the market in 2022?
Ans. The market size of the Cocoa Products market in 2022 was US$ 34.42 Bn.