Leading cocoa manufacturers are focusing on sustainable cocoa products to solidify their presence in the market. Various national and international initiatives such as German Initiative on Sustainable Cocoa (GIDCO) and the Swiss Platform for Sustainable Cocoa (SWISSCO) are also being launched to support sustainable cocoa production.
NEWARK, Del: According to Future Market Insights (FMI), the global cocoa market is estimated to reach US$ 15,156.7 million in 2023 and further accelerate at 4.7% CAGR throughout the assessment period. By 2033, the market size is set to attain a valuation of US$ 23,981.1 million.
Growing applications of cocoa across thriving confectionery industry is a key factor driving the global cocoa market forward. Subsequently, growing demand for chocolate and chocolate-based products will boost cocoa sales during the forecast period.
Most of the cocoa produced globally is utilized in confectionery industries for making various chocolate and chocolate-based items. Rising demand for cocoa products such as cocoa powder, cocoa liquor, and cocoa butter from chocolate manufacturing companies is expected to the boost market.
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The availability of a wide variety of chocolate flavors and chocolate types is resulting in an increasing consumer base. Different types of chocolates such as dark chocolate and milk chocolate are in high demand due to their various health benefits.
Rising awareness about the potential health benefits of cocoa coupled with increasing usage across functional food and pharmaceutical industries is expected to propel cocoa demand.
Cocoa contains high concentrations of flavanols which have potent anti-inflammatory and antioxidant effects. Consumption of cocoa and cocoa-based products, therefore, improves immunity and reduces the risk of disease development.
Similarly, increasing usage of cocoa products in cosmetics and toiletries is expected to create lucrative growth opportunities for cocoa manufacturers during the projection period.
Key Takeaways from the Report:
- The cocoa market is forecast to reach US$ 23,981.1 million by 2033
- In terms of product type, the cocoa liquor segment accounts for 2% of the total market share in 2023.
- By application, confectionary segment currently holds a significant share of 7% of the total cocoa market.
- The USA cocoa market is forecast to reach a valuation of US$ 1,010.0 million by 2033.
- The United Kingdom cocoa market is poised to accelerate at a CAGR of 7% during the assessment period during the assessment period
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Who is Winning?
Leading players in cocoa market include The Barry Callebaut, Cocoa Processing Company, ADM, Dutch Cocoa BV, JB Foods, Cemoi, Blommer Chocolate, Cargill, Inc., Mars, Inc., Meiji Holdings, Carlyle Cocoa, United Cocoa Processor, Inc., Jindal Cocoa, Olam International Ltd., Nestle, Puratos Group, and Others.
Get Valuable Insights into Cocoa Market
FMI, in its new offering, provides an unbiased analysis of the cocoa market presenting historical demand data (2018 to 2022) and forecast statistics for the period from (2023 to 2033). The study divulges compelling insights on the demand for cocoa market based on Product Type (Cocoa Powder, Cocoa Butter, Cocoa Liquor), Process (Natural, Dutch), Nature (Organic, Conventional), and Application (Confectionery, Cosmetics, Functional Food, Beverages, Pharmaceuticals) across several regions.
About the Food & Beverage Division at Future Market Insights
Expert analysis, actionable insights, and strategic recommendations – the Food & Beverage team at Future Market Insights helps clients from all over the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analyzed the food & beverage industry lucidly in 50+ countries for over a decade. The team provides end-to-end research and consulting services; reach out to explore how we can help.
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Cocoa Industry by Category
- Cocoa Powder
- Cocoa Butter
- Cocoa Liquor
- Functional Food
- North America
- Latin America
- Middle East and Africa
- East Asia
- South Asia
Table of Content
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Technology Roadmap
1.5. Analysis and Recommendations
- Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition
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Explore FMI’s related ongoing Coverage on Food and Beverage Domain
Cocoa Powder Market Size: The cocoa powder market is predicted to grow at a moderate CAGR of 2.9% during the forecast period of 2022 to 2032.
Cocoa Butter Market Share: Cocoa butter market is expected to be valued at US$ 10201.8 million in 2032, and as on 2022 the market valuation is US$ 8548.6 million.
Cocoa Liquor Market Trends: The cocoa liquor market value is expected to total US$ 6,317.37 Mn in 2021, according to Future Market Insights (FMI). The overall market value is expected to reach US$ 8,656.3 Mn by 2031, growing at a CAGR of 3.2% for 2021-31.
Chocolate Powdered Drinks Market Value: Chocolate powdered drinks can be mixed with water or milk to prepare instant chocolate drinks.
About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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