The ‘Global Cocoa and Chocolate Market Growth, Size, Share, Price, Trends, Analysis, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global cocoa and chocolate market, assessing the market on the basis of its segments like ingredients, applications, type, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analyzes the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
Cocoa and Chocolate Market Share, Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR for Cocoa (2023-2028): 4.6%
• Forecast CAGR for Chocolate (2023-2028): 5.2%
The market for chocolates is surging with ever-increasing demand owing to its multiple health benefits. Minerals and antioxidants are abundant in cocoa-based chocolate. Due to its high-calorie content, moderate consumption of chocolate aids with weight maintenance. Chocolate consumption can provide significant assistance in decreasing cholesterol levels and the risk of cardiovascular issues.
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Additionally, because of its scent and flavour, chocolate has been regarded as a luxury or premium good since ancient times. With the rising demand for chocolate, the demand for cocoa will also experience a rise and owing to the multiple benefits the market is likely to go through significant developments.
Cocoa and Chocolate Industry Definition and Major Segments
Cocoa is found as seeds of the cacao tree. The seed is used to make cocoa butter, which is subsequently utilised to make chocolate since it is high in fat. Cocoa is most widely recognised as a grounded powder product. The primary ingredient in commercial chocolate is cocoa beans.
Chocolate is a food product which is made from fermented and roasted beans obtained from tropical cacao trees. The main raw ingredient for manufacturing chocolate is cocoa liquor.
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The cocoa market, by ingredient, is bifurcated into:
• Cocoa Butter
• Cocoa Liquor
• Cocoa Powder
The market for cocoa, based on application, includes:
• Food and Beverages
o Confectionery
o Dairy
o Bakery
o Others
• Cosmetics and Pharmaceuticals
• Others
The chocolate market, by type, is divided into:
• Dark
• Milk
• White
• Others
Based on regions, the cocoa and chocolate market can be divided into:
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• Latin America
Cocoa and Chocolate Market Trends
The market for cocoa and chocolates is expected to go through major shifts and new expansions as consumer preference changes, inclining towards healthier food options. The market is experiencing a shift of preference toward dark chocolates, and this can present new development opportunities for market players.
Market players are anticipated to increase investments made in the trend of single-origin and bean-to-bar chocolates as customers believe the products to be excellent in quality. Due to the growing emphasis on the bean-to-bar concept in recent years, the demand for speciality chocolate products and premium offers has increased significantly, which is predicted to propel market growth in the forecast period.
The single-origin cocoa craze is still driving new product development and innovations. The demand for premium cocoa powder, cocoa liquor, and cocoa butter has increased as a result of this.
Key Market Players
The major players in the cocoa and chocolate market report are
- Barry Callebaut AG
- Cargill Incorporated
- Nestlé S.A.
- Olam Food Ingredients (ofi)
- Cocoa Processing Company Limited (CPC)
- Mondelez International, Inc.
- Meiji Holdings Co., Ltd.
- Others
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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