DUBLIN, Jun 14, 2021--(BUSINESS WIRE)--The "Cocoa Market by Product Type, Process, Nature, Quality and Application: Global Opportunity Analysis and Industry Forecast 2021-2027" report has been added to ResearchAndMarkets.com's offering.
The global cocoa market size was valued at $12,874.0 million in 2019, and is estimated to reach $15,501.1 million by 2027, registering a CAGR of 4.3% from 2021 to 2027.
Cocoa is obtained from a tropical plant called Theobroma cacao or cacao tree. The major cocoa producing nations include Cote d'Ivoire, Ghana, Nigeria, Ecuador, and Cameroon. The cocoa bean is dried and fermented to produce cocoa liquor or chocolate liquor. It is the key raw material for producing chocolates. The growing consumption of chocolates is boosting the demand for cocoa in the global market. Chocolate is perceived to be a premium luxury since ancient times, due to its sweet taste and aroma. It also offers various health benefits such as reduction of cholesterol levels and reducing the risk of cardiovascular problems. Chocolate is a rich source of antioxidants and minerals. It also helps in maintaining body weight. These factors are boosting the demand for chocolate globally and ultimately fueling the growth of the global cocoa market during the forecast period.
Cocoa butter and cocoa powder are produced from cocoa liquor. The cocoa powder and cocoa butter are now increasingly used in various industries such as pharmaceuticals, bakery, food & beverages, nutraceuticals, and cosmetics as flavoring and coloring agent. It is also used to make toiletries due to its flavor and aroma. Therefore, the growing application of cocoa in different industries is expected to boost the global cocoa market in the forthcoming years.
Moreover, the growing demand for cocoa in emerging nations is propelling the global cocoa market. The Asia-Pacific region is expected to be the fastest-growing region because of the growing usage of cocoa in confectioneries, bakery, and food & beverages industries. Furthermore, rising disposable income and consumer awareness regarding health benefits of chocolate consumption is boosting the cocoa market in Asia-Pacific region.
According to the cocoa market analysis, the cocoa market is segmented into product type, process, nature, quality, application, and region. On the basis of product type, the global cocoa market is categorized into cocoa butter, cocoa liquor, and cocoa powder. By process, it is segregated into Dutch process and natural process. On the basis of nature, it is segmented into organic and conventional. Based on the quality, it is segmented into bulk, specialty, and fine flavor. Based on application, it is segmented into confectionery, food & beverages, bakery, and others. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (the Netherlands, Germany, Belgium, France, the UK, Italy, Spain, Switzerland, and rest of Europe), Asia-Pacific (China, Japan, India, Malaysia, Indonesia, Singapore, and rest of Asia-Pacific), and LAMEA (Brazil, Iran, United Arab Emirates, and rest of LAMEA).
The report provides a quantitative analysis of the current market trends, estimations, and dynamics of the market size from 2019 to 2027 to identify the prevailing opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis and the market size and segmentation assist to determine the prevailing cocoa market opportunities.
The major countries in each region are mapped according to their revenue contribution to the market.
The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the cocoa industry.
Growing demand for chocolates across the globe is boosting the cocoa market
Europe and Asia-Pacific are driving the cocoa market
VSS-compliant production is boosting the demand for the sustainable cocoa
Availability of substitutes of cocoa may hinder the market growth
Dynamic price fluctuations of cocoa beans may hinder the market growth
Growing demand for specialty cocoa is offering new opportunities in Europe
Storytelling is the trending marketing strategy in the cocoa market
Barry Callebaut AG
Blommer Chocolate Company
Guan Chong Cocoa Manufacturer Sdn. Bhd.
Olam International Limited
The Hershey Company
United Cocoa Processor, Inc.
VJ Jindal Cocoa Private Limited
For more information about this report visit https://www.researchandmarkets.com/r/gytrep
View source version on businesswire.com: https://www.businesswire.com/news/home/20210614005387/en/
Laura Wood, Senior Press Manager
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