Global Cocoa Products Market to be Driven by Increased Awareness of Health Benefits of Cocoa Products during the forecast period 2021-2026

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Expert Market Research’s new report titled ‘Global Cocoa Products Market Report and Forecast 2021-2026’, gives an in-depth analysis of the global Cocoa Products market, assessing the market based on its segments such as Product, Application and Major Regions. The report tracks the latest industry trends and studies their impact on the overall market. It also assesses market dynamics, covering key demand and price indicators, as well as market analysis based on SWOT and Porter’s Five Forces models.

Note 1: For an overview of primary and secondary market data (2016-2026), along with business strategies and detailed market segmentation, please click on the sample demand report. The sample report will be delivered to you within 24 hours.

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Key highlights of the report include:

Market Overview (2016-2026)

  • Historical market size (2020): 27.5 billion USD
  • Forecast CAGR (2021-2026): 6%
  • Forecasted market size (2026): 39 billion USD

Rising demand for cocoa products in various industrial applications, such as confectionery and beverages, is accelerating the use of cocoa products and driving the market growth. The health benefits of cocoa products, such as lowering blood pressure, managing diabetes, and keeping heart disease at bay, are accelerating the use of cocoa ingredients in dark chocolates. Cocoa is also rich in polyphenols, which help protect body tissues against oxidative stress and related conditions like cancer and inflammation. These factors are also driving the expansion of the market for cocoa products. The increase in demand for cocoa beans for making various foods and beverages mainly boosts its sales. The confectionery segment is expected to lead the market over the forecast period due to the increased affinity of people across the globe towards packaged foods and confectionery. Major trends driving the cocoa products industry include heavy focus on organic cocoa and its nutritional benefits driven by global consumer preferences, thereby driving the growth of the market.

Industry definition and major segments

Cocoa is a fatty bean derived from Theobroma cocoa that is dried and fermented before being processed to extract cocoa powder, cocoa oil, cocoa butter, cocoa liquor and liquor and other solids . The demand for cocoa is increasing mainly due to its use in chocolate. Criollo, trinitario and forastero are the three most common plants from which cocoa is derived.

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The market, based on the product, can be divided into:

  • cocoa beans
  • cocoa butter
  • Cocoa powder and cake
  • Cocoa paste and liquor
  • Chocolate

The industry can be broadly classified on the basis of its application into:

Based on region, the industry is divided into:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Market trends

Increased demand for chocolate and related products such as milk chocolate, sweet chocolate, and dark chocolate, along with aggressive advertising by manufacturers to increase brand recognition, is driving the growth of the cocoa products market . Improved commercial farming techniques are being used to produce cocoa, which is expected to increase supply and therefore improve growth prospects in the future. Increased efforts by the government to provide farmers with modern agricultural techniques are expected to create a positive outlook for cocoa beans, which will ultimately lead to the growth of the market for cocoa products. Additionally, factors such as changing consumer demand, changing taste, and increasing consumer health awareness are expected to increase the market demand for cocoa products.

Main market players

Major players in the market are The Barry Callebaut Group, The Hershey Company (NYSE: HSY), Cargill Incorporated, Fuji Oil Co., Ltd., United Cocoa Processor, and Jindal Cocoa.

The report covers market shares, capacities, plant rotations, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.

Note 2: As the novel coronavirus (COVID-19) continues to spread across the globe, our analysts are continuously monitoring the impact of this rapidly evolving situation on markets and consumer buying behaviors. Thus, our latest estimates and analysis on current market trends and forecasts will comprehensively reflect the effects of this emerging pandemic.

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* At Expert Market Research, we always strive to give you the latest information. The figures in the article are only indicative and may differ from the actual report.


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