Global Cocoa Products Market By Type of Cocoa (Forastero Cocoa, Trinitario Cocoa, Criollo Cocoa), Product Type (Cocoa Beans, Cocoa Butter, Cocoa Powder & Cake, Cocoa Liquor & Paste, Cocoa Nibs, Others), Source (Inorganic, Organic), Application (Food & Beverages, Personal Care & Cosmetics, Dietary Supplements, Others), Distribution Channel (Direct, Indirect), Country (U.S., Canada, Mexico, Germany, Italy, France, Switzerland, Russia, Spain, U.K., Belgium, Netherlands, Poland, Turkey, Sweden, Denmark and Rest of Europe, China, Australia, Vietnam, Japan, India, New Zealand, Malaysia, South Korea, Singapore, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, Oman, U.A.E., Qatar, Kuwait, Rest of Middle East and Africa) Industry Trends and Forecast to 2027
Market Analysis and Insights: Global Cocoa Products Market
Cocoa products market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses that the market is growing with the CAGR of 5.3% in the forecast period of 2020 to 2027 and is expected to reach USD 25,249.67 million by 2027.
Rising demand for cocoa products in wide industrial applications such as confectioneries, beverages are accelerating the use of cocoa products boosting the growth of the market. The health benefits associated with the cocoa products such as lowering in blood pressure, diabetes management and maintains of cardiac related diseases accelerating the utilization of cocoa ingredients in dark chocolates.
This cocoa products market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographical expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Global Cocoa Products Market Scope and Market Size
Cocoa products market is categorized into five notable segments which are based on the basis of type of cocoa, product type, source, application and distribution channel. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of type of cocoa, the market is segmented into forastero cocoa, trinitario cocoa and criollo cocoa. In 2020, forastero cocoa segment is dominating the market as they are majorly referred as the bulk cocoa produced in the major producing countries such as Ghana, Côte d'Ivoire, and Nigeria among others. Forastero cocoa unlike other cocoa is not susceptible to any crop diseases which make their farming convenient to growers
- On the basis of product type, the market is segmented into cocoa beans, cocoa butter, cocoa powder & cake, cocoa liquor & paste, cocoa nibs and others. In 2020, cocoa beans segment is dominating the market as majority of cocoa beans is roasted and raw are utilized industrial application in dark chocolate production.
- On the basis of source, the market is segmented into inorganic and organic. In 2020, the inorganic segment have comprised the highest market share as majority of the cocoa beans are produced using conventional method due to their cost effectiveness to small growers in Africa and Indonesian country
- On the basis of application, the market is segmented into food & beverages, personal care & cosmetics, dietary supplements and others. In 2020, the food and beverages segment is dominating the market as the high demand of the cocoa products are majorly used in industrial application of chocolates as dark chocolate composition is contains approximately 90% cocoa ingredients in form of butter and beans.
- On the basis of distribution channel, the market is segmented into direct and indirect. In 2020, direct segment is dominating the market, as direct distribution are tendered by large industrialists of food manufacturers and bulk requirement of the cocoa products and their wide presence have led their growth.
Cocoa Products Market Country Level Analysis
Cocoa products market is categorized into five notable segments which are based on the basis of type of cocoa, product type, source, application and distribution channel as referenced above.
The countries covered in cocoa products market report are the U.S., Canada, Mexico, Germany, Italy, France, Switzerland, Russia, Spain, U.K., Belgium, Netherlands, Poland, Turkey, Sweden, Denmark and Rest of Europe, China, Australia, Vietnam, Japan, India, New Zealand, Malaysia, South Korea, Singapore, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, Oman, U.A.E., Qatar, Kuwait, Rest of Middle East and Africa.
In global cocoa products market, the European region has facilitated the highest market share followed by North America, Asia-Pacific, Middle East and Africa and South America region. In Europe, Germany have occupied the highest market share due to the wide consumption of cocoa products in the industrial application for instance Mondelez International, Nestle and Lindt & Sprüngli one of the top players of confectionery majorly consume the cocoa products for production of chocolates incorporated with roasted cocoa beans products. However, in North America, the U.S. have occupied the highest market share due to the consumption of cocoa beans and butter applied in food and beverages sector and the preference of coffee flavour have made their preferences among American consumers. In Asia-Pacific region, Japan market is leading the growth due to the high consumption cocoa liquors and cocoa butters products in food and pharmaceutical sector and has led their growth.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory actsand import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Rising Demand of Cocoa Products in Confectionery Industry
Cocoa products market also provides you with detailed market analysis for every country growth in industry with sales, components sales, impact of technological development in cocoa products and changes in regulatory scenarios with their support for the cocoa products market. The data is available for historic period 2010 to 2018.
Competitive Landscape and Cocoa Products Market Share Analysis
Cocoa products market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the companies’ focus related to global cocoa products market.
The major players covered in the report are Olam International, Cargill, Incorporated, Barry Callebaut, NATRA, TOUTON S.A., Kuruvilla & Sons, Nestle, JBCOCOA Sdn. Bhd., Ecuakao Group Ltd, ALTINMARKA, MONER COCOA, S.A., Indcre S.A., PURATOS, Blommer Chocolate Company, Guan Chong Berhad (GCB), UNITED COCOA PROCESSOR, INC., ciranda, inc., TRADIN ORGANIC AGRICULTURE B.V., Huyser Möller, Sucden, Plot Enterprise Ghana Ltd, Ecom Dutch Cocoa, FTN Cocoa Processors PLC, Jindal Cocoa among others.
Many product developments are also initiated by the companies worldwide which are also accelerating the growth of cocoa products market.
- In March 2020, Olam International has decided to enter into partnership with John Lewisto inspire next generation of Colombia’s coffee farmers. This development will help the company to increase the production capacity and foot prints globally.
- In December 2019, Sucden become the member of the International Cocoa Initiative (ICI) for the protection of the child labor. This development helped the company to increase goodwill and revenue in near future.
Partnership, joint ventures and other strategies enhances the company market share with increased coverage and presence. It also provides the benefit for organisation to improve their offering for cocoa products through expanded range of size.
Customization Available: Global Cocoa Products Market
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