Middle East and Africa 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 (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: Middle East and Africa 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 a CAGR of 3.1% in the forecast period of 2020 to 2027and is expected to reach USD 822.16 million by 2027.
Rising demand for cocoa products in wide industrial applications such as confectioneries, beverages are accelerating the use of cocoa products accelerated the growth of the market. The health benefits associated with the cocoa products are it helps lowering in blood pressure, it also helps in diabetes management and also maintains cardiac related diseases, which is 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, geographic 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.
Middle East and Africa Cocoa Products Market Scope and Market Size
Cocoa products market is segmented on the basis of 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 Middle East and Africa cocoa products market is segmented into forastero cocoa, trinitario cocoa and criollo cocoa. In 2020, forastero cocoa segment is dominating as Forastero cocoa unlike other cocoa is not susceptible to any crop disease which makes their farming convenient to growers, which led their production by the growers and food industrialists.
- On the basis of product type, the Middle East and Africa cocoa products 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 are preferred in the production of ready to drink coffee and dark chocolates.
- On the basis of source, the Middle East and Africa cocoa products 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 as the growth of the crops by conventional process requires less capital investment by the local farmers.
- On the basis of application, the Middle East and Africa cocoa products 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 applications such as ready to drink coffee and chocolate consumption have accelerated their market growth.
- On the basis of distribution channel, the Middle East and Africa cocoa products market is segmented into direct and indirect. In 2020, the 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 analysed and market size information is provided by country, type of cocoa, product type, source, application and distribution channel
The countries covered in Cocoa products market report are the South Africa, Saudi Arabia, Oman, U.A.E., Qatar, Kuwait, Rest of Middle East and Africa.
- In Middle East and Africa cocoa products market, South Africa dominates the market as almost 30% cocoa is produced in Ghana of total world cocoa production and their demand in industrial applications such as food and beverages, skin care and hair care products in South Africa accelerated 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 Middle East and Africa 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, Middle East and Africa 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 Middle East and Africa cocoa products market.
The major players covered in the report are Olam International, Cargill, Incorporated, Barry Callebaut, Nestle, ALTINMARKA, MONER COCOA, S.A., PURATOS, Huyser Möller, Sucden, Plot Enterprise Ghana Ltd and Ecom Dutch Cocoa, among others domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many product developments are also initiated by the companies worldwide which are also accelerating the growth of cocoa products market.
For instance,
- In December 2019, Sucden company 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.
- In October 2016, Touton SA. has launched a climate smart Cocoa supports and complements the Forestry Commission’s objectives in the implementation of the Ghana Cocoa. This helped the company to maintain robust climate smart cocoa approach which made a healthy cocoa cultivation.
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.
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