Growth of Cocoa and Chocolate Market Attributed to Thriving Confectionery Industries
Cocoa butter is widely used to produce chocolates, cosmetics, soft drinks, and alcohol. The rising demand for cocoa in Eastern Europe as well as in countries such as Brazil, India, and China are influencing the production of cocoa and an additional demand of 1 million tons is anticipated by 2020. A latest report from IndustryARC evaluates that the global cocoa market and chocolate market collectively offered opportunities worth $49.7 billion in 2017, and estimates it to grow at a CAGR of 4.40% over the forecast period of 2019-2025. Though the major consumption of cocoa comes from chocolate, the cocoa market demand is expected to grow due to its organic uses too.
The IndustryARC report is titled
Cocoa & Chocolate Market: By Type (Coca, Chocolate); By Application
(Confectionary, Food and Beverages, Cosmetics, Pharmaceuticals, Others); By
Distribution Channel (Sales Channel, Distributor, Traders, and Dealers); &
By Geography Forecast (2019-2025).” The report presents a detailed analysis of
global cocoa and chocolate market based on different metrics and trends
relevant to the industry.
Global Cocoa Market: Leading Segments
The chocolate market, or the cocoa market as a whole, is feeding off well-established confectionery producers across North America, Africa, and Europe, with Europe serving the largest revenue share of 41.70% as per 2018. Modern facilities combined with innovation is leading to numerous products in this segment and luring customers. Manufacturers are coming up with advanced lab testing facilities and sophisticated equipment to the delight consumer experience. Different ingredient combinations are developed and tested by specialists of the field.
Between 2019 and 2025, in the cocoa market and chocolate market, the confectionaries segment is estimated to grow at a CAGR of 5.47%. In addition to the confectionaries, cocoa is widely used at food and beverages, cosmetics, and pharmaceutical industries.
Global Chocolate Market: Trends
o Fine chocolate hits the spot for many chocoholics and food lovers. Millennials and other curious consumers look out for unique flavors, compelling chocolate molds, which is often considered as a luxury indulgence.
o Planned or unplanned, chocolates are the most common snacks taken by a large population. When taken in adequate amounts, chocolates can be enjoyed as a part of a healthy and balanced life. The quest to combine health and taste is driving the demand for confectionery market.
o Consumers are highly interested in the ingredients of a product. 69% of consumers’ behavior is affected by reading labels of a product. The demand for the organic cocoa market is growing at a steady pace, as the health concern and environmental awareness of consumers are growing.
Global Cocoa and Chocolate Market: Competitive Landscape
Mars Inc., Mondelez International Inc, Nestle SA, Hershey Foods Corp, Yildiz Holding, Kellogg Co, Ezaki Glico Co Ltd, Ferrero Group, Chocoladenfabriken Lindt & Sprüngli AG, August Storck KG, Meiji Co Ltd are few potential manufacturers and predominant producers of confectioneries. These players are operating with a larger market share in the global cocoa and chocolate market.
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Nigerian Cocoa Market
What can you expect from the report?
The cocoa and chocolate market is prepared with the main agenda to cover the following 20 points:
1. Market Size by Product Categories & Application 11. Demand Analysis (Revenue & Volume)
2. Market trends & Relevant Market Data 12. Country level Analysis
3. Manufacturer Landscape 13. Competitor Analysis
4. Distributor Landscape 14. Market Shares Analysis
5. Pricing Analysis 15. Value Chain Analysis
6. Top 10 End user Analysis 16. Supply Chain Analysis
7. Product Benchmarking 17. Strategic Analysis
8. Product Developments 18. Current & Future Market Landscape Analysis
9. Mergers & Acquisition Analysis 19. Opportunity Analysis
10. Patent Analysis 20. Revenue and Volume Analysis
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