Global Cocoa Market Research report presents an in-depth analysis of the Cocoa Market size, growth, share, segments, manufacturers, forecast, competition landscape, and growth opportunity. This report also focuses on key trends, market drivers, challenges, standardization, deployment models, future roadmap, revenue, and forecast. Moreover, this research report categorizes the global Market by companies, region, type, and end-user industry.
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Cocoa is extracted from Theobroma tree or cacao tree. The cocoa or cocoa beans are dried and fermented to produce cocoa liquor and by processing the cocoa liquor, cocoa butter and cocoa powder is extracted. The growing demand for chocolate is the key factor propelling the global cocoa market. Cocoa liquor is the major ingredient used to manufacture chocolate.
The players operating in the global cocoa market have adopted various developmental strategies to expand their market share, exploit the cocoa market opportunity, and increase in profitability in the market. The key players profiled in this report include Cargill, Inc., Olam International Ltd., Toutan S.A., Barry Callebaut AG, The Hershey Company, Guan Chong Cocoa Manufacturer SDN. BHD, Ciranda, Inc., United Cocoa Processor, Inc., Bloomer Chocolate Company, and VJ Jindal Cocoa Private Limited.
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Key finding of the study
The cocoa market was valued at $12,874.0 million in 2019, and is estimated to reach $15,501.1 million by 2027, growing at a CAGR of 4.3% during the forecast period.
By product type, the cocoa liquor segment is estimated to witness the fastest growth, registering a CAGR of 4.4% during the forecast period.
In 2019, depending on the process, the Dutch process segment was valued at $9,675.2 million, accounting for 75.1% of the global cocoa market share.
In 2019, the Netherlands was the most prominent market in Europe, and is projected to reach $1,636.5 million by 2027, growing at a CAGR of 4.5% during the forecast period.
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Region-wise, North America garnered a significant gluten free snacks market share in 2021, and is expected to maintain its market share throughout gluten-free snacks market forecast period. The North America market for gluten free snacks is driven by an increase in the consumption of convenience foods such as snacks and rise in concerns about health and fitness. Moreover, North America has a developed retail structure that allows consumers to conveniently purchase food and groceries. This easy availability helps with the overall sale of convenient goods such as the gluten free snacks.
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