Cocoa Market - Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth And Forecast 2021 - 2026

Report Code: FBR 50924 Report Format: PDF + Excel

Cocoa Market Overview

Cocoa Market size is estimated at $26.6 billion in 2020, projected to grow at a CAGR of 3.8% during the forecast period 2021-2026. Cocoa is a highly concentrated powder created from a paste made from the cacao tree's cocoa beans, which is used in beverages and as a flavouring ingredient. It is dried and fermented. Cocoa gives products taste, texture, and colour. The cocoa bean like Criollo, forastero, in particular, has been identified as a significant source of flavonoids, primarily flavanols in the form of epicatechin and catechin. In addition, it has properties that are anti-oxidative, anti-inflammatory and anti-depressant. Cocoa helps to control symptoms of severe fatigue syndrome, protects against sunburn, decreases hypertension and improves heart. Cocoa powder is primarily used for the processing of chocolate sweets and cocoa paste, which is used to make desserts. Cocoa butter is used widely for the production of skin care products in the pharmaceutical and cosmetic industries. The growth of the market is driven by the rising demand of chocolate and chocolate coatings globally. Moreover, in order to improve the texture, mouthfeel and stability of the product hydrocolloids are used as the gelling agent, thickening agent and stabilizers in Cocoa. Increased demand for sugar-free products as a result of rising consumer health consciousness has compelled Cocoa manufacturers to research and develop new Cocoa - Criollo, forastero products, which has aided the Cocoa industry's development. Furthermore, the increasing preference for natural ingredients among Cocoa manufacturers has provided an advantageous demand for Cocoa suppliers.

Report Coverage

The report: Cocoa Market Forecast (2021-2026)”, by Industry ARC, covers an in-depth analysis of the following segments of the Cocoa Market.

By Type: Cocoa Butter, Cocoa Beans, Cocoa Powder and Others.
By Source: Organic and Conventional.
By Application: Bakery & Confectionery, Beverages, Dairy & Frozen Products, Convenience Foods and Others.
By End Use Industry: Food & Beverages, Cosmetics, Pharmaceuticals and Others.
By Geography: North America (U.S, Canada and Mexico), Europe (Germany, UK, France, Italy, Spain, Russia and Rest of Europe), Asia Pacific (China, Japan India, South Korea, Australia & New Zealand, and Rest of Asia Pacific), South America (Brazil, Argentina and Rest of South America) and RoW (Middle East and Africa).

Key Takeaways

  • Cocoa Market growth is being driven by an increase in demand for non-carbonated products owing to the increasing demand for gluten-free, clean, low-calorie, and low-carbon products.
  • Geographically, Europe Cocoa Market held the largest revenue share of 36% in 2020 owing to the growing customer preference for various applications in the region. The scope of the Cocoa Market for various regions will be provided in the final report.
  • The increasing demand for sugar free and ready-to-eat products are driving the Cocoa Industry.
  • The demand for items such as bread, cake, and cookies is rising rapidly, and the Cocoa market is expected to rise as a result.
  • The growing government effort to provide farmers with modern farming techniques is accelerating the Cocoa demand over the forecast years 2021-2026.
  • The growth of cocoa bean Criollo, forastero products is mainly driven by increased demand for chocolate and its associated products such as milk chocolate, sweet chocolate, and dark chocolate, along with brand awareness advertising by manufacturers.
  • However, regulations for the use of Cocoa products in order to maintain international quality standards, volatile cocoa costs, and uncertainty about use due to health concerns are all holding the industry back.


Cocoa Market: Market Share (%) by Region, 2020

Cocoa Market Share
For More Details on This Report - Request for Sample

Cocoa Market Segment Analysis – By Type:

Based on Type, Cocoa Butter segment accounted for the largest revenue market share in 2020. This is majorly attributed to its diverse applications, not just on confectionery but also in baking like cookies, food processing and food technology. Owing to growing worries about the detrimental effects of synthetic products, demand for butter cocoa beans (Criollo, forastero) as a functional component is predicted to rise due to the growing popularity of natural cosmetics around the world. It is used in the making of chocolates and toiletries. It contains a high proportion of both monounsaturated and unsaturated oleic acid and fats. Cocoa butter is considered to be among the most stable fats, so it has an excellent shelf life abetting towards the growth of the Cocoa market. Cocoa Powder predicted to grow with the fastest CAGR of 3.9% in the forecast period 2021-2026. Cocoa Powder is used as an ingredient in chocolate syrup, cookies, chocolate confectionery, and biscuit formulations. Owing to its ability to minimise acidity and increase solubility, the growing value of alkalized cocoa powder as a flavour enhancer in chocolate products is projected to remain a favorable factor for the market thereby, drives the Cocoa Industry.

Cocoa Market Segment Analysis – By End Use Industry:

Based on End Use Industry, Food & Beverage segment has accounted for largest revenue market share in the year 2020 owing to rising disposable income, frequent snacking habits of consumers, and expanding demand for Criollo & Forastero cocoa beans. The popularity of coated fruits, nuts and other varieties is steadily growing, especially in developed countries, thus giving a boost to the cocoa market. In addition, ready-to-bake or ready-to-thaw means less wastage of produce, as stores can bake depending on demand while holding frozen and stored residual items. In addition, prolonged self-life provides advantages such as ease of availability during seasonal fluctuations whenever needed and secure stocks. In addition, the growing demand for convenience food goods is also driving market growth in order to save both consumers time and effort, considering their hectic timetables. Pharmaceutical is anticipated to grow with the fastest CAGR of 4.2% in the forecast period 2021-2026 as it raises the immune system, increases the stability of the heart, and relieves constipation, which in turn drive the segment growth.

Cocoa Market Segment Analysis – By Geography:

Based on Geography, Europe Cocoa Market accounted for the 36% revenue share in 2020. This is majorly attributed to the established industries in this region, moreover it offers top quality of Cocoa globally. According to the Ministry of Foreign Affairs, Europe is a very diverse market for cocoa, which makes it very interesting. It has a thriving chocolate processing and manufacturing industry that needs large quantities of cocoa beans like Criollo, forastero. Although the industry processes a lot of bulk cocoa, demand for specialty cocoa is on the rise. The freezing technique has substantially asserted its place in the European Frozen Bakery industry through natural self-like promotion without the use of any preservatives. In September 2019, Pladis and Starfrost underwent a merger to update their spiral cooling system by precise temperature reduction to reform their McVitie's Hobnob Chocolate Flapjacks. The cooling system allows manufacturers build space within their bakery to introduce a completely new segment without compromising their production ability and improving the product quality aids to the market’s growth. North America is predicted to be the fastest growing region during the forecast period 2021- 2026 owing towards the high adoption of cocoa butter for the production of toiletries, ointments, and others in the region. Ease of business and wide range of application are also prominent factors in the North America economy which drive demand for Cocoa Industry.

Cocoa Market Drivers

Rising Demand For Organic and Gluten Free Products

Rising incidences of lifestyle health illnesses have led consumers in their purchasing of food items to become health conscious and proactive. Demand for organic cocoa beans like Criollo, forastero is gaining momentum, with customers trying to prevent toxic chemicals from being consumed. Gluten-free food products are widely sought after by not only susceptible customers, but also health-conscious consumers as the diagnosis of gluten allergy rises across the globe. Furthermore, the cocoa industry is projected to attract health-conscious customers by producing cocoa products with non-GMO materials. As cocoa manufacturers dip their toes into novel production methods of organic and gluten-free products, the growing incidence of consumers leaving chocolate consumption drives the Cocoa market growth.

Cocoa Market Challenges

High Product Cost:

Owing to weed accumulation, farmers have faced challenges relating to yield and profitability, which increases the risk of crop damage. Most cocoa bean (Criollo & forastero) farmers have also transferred their attention to the cultivation of other high-yield crops. It is anticipated that these problems would have a negative effect on the supply dynamics, thereby hindering business development. Also, chocolate producers have encountered supply problems that caused cocoa prices to move higher owing to COVID -19 restraining the market growth.

Cocoa Market Landscape:

The Cocoa Market's main strategies include product launches, mergers and acquisitions, joint ventures, and regional expansion. Cocoa Market top 10 companies are Barry Callebaut, Artisan Confection Company, Bloomer Chocolate Company, Cargill Inc., Ciranda Inc., Internatural Food Llc., Kraft Food Group Inc., Nestlè, Pascha Chocolate, Touton SA and Tradin Organic Agriculture BV.

Acquisitions/Product Launches:

  • In June 2020, Cargill Inc., launched first chocolate manufacturing operation in India. In order to better meet the needs of local Indian customers as well as multinational customers in the region, the opening of a chocolate production operation in India enabled the company to increase regional footprint and capabilities in Asia
  • In January 2019, Barry Callebaut, one of the world’s leading manufacturer of the high quality cocoa products has acquired Inforum, one of the leading Russian B2B manufacturer of chocolate, fillings, compound coatings.

Related Reports

Report Code: FBR 54131

Report Code: FBR 0407

For more Food and Beverage Market reports, please click here

1. Cocoa Market - Overview
    1.1 Definitions and Scope
2. Cocoa Market - Executive Summary
    2.1 Market Revenue, Market Size and Key Trends
    2.2 Key trends by Type
    2.3 Key trends by End Use Industry
    2.4 Key trends by Geography
3. Cocoa Market - Comparative Analysis
    3.1 Company Benchmarking
    3.2 Financial Analysis– Key Companies
    3.3 Market Share Analysis
    3.4 Patent Analysis
    3.5 Pricing Analysis- Average Price
4. Cocoa Market - Startup Companies Scenario Premium
    4.1 Key Startup Company Analysis by
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Venture Capital and Funding Scenario
5. Cocoa Market – Industry Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing Business Index
    5.3 Case Studies of Successful Ventures
6. Cocoa Market - Forces
    6.1 Market Drivers
    6.2 Market Constraints/Challenges
    6.3 Porters Five Force Model
        6.3.1 Bargaining power of suppliers
        6.3.2 Bargaining powers of customers
        6.3.3 Threat of new entrants
        6.3.4 Rivalry among existing players
        6.3.5 Threat of substitutes
7. Cocoa Market – Strategic Analysis
    7.1 Value Chain Analysis
    7.2 Opportunities Analysis
    7.3 Market Life Cycle
8. Cocoa Market – By Type (Market Size –$Million/$Billion)
    8.1 Cocoa Butter
    8.2 Cocoa Beans
    8.3 Cocoa Powder
    8.4 Others
9. Cocoa Market – By Source (Market Size –$Million/$Billion)
    9.1 Organic
    9.2 Conventional
10. Cocoa Market – By Application (Market Size –$Million/$Billion)
    10.1 Bakery & Confectionery
    10.2 Beverages
    10.3 Dairy & Frozen Products
    10.4 Convenience Foods
    10.5 Others
11. Cocoa Market – By End Use Industry (Market Size –$Million/$Billion)
    11.1 Food & Beverages
    11.2 Cosmetics
    11.3 Pharmaceuticals
    11.4 Others
12. Cocoa Market - By Geography (Market Size –$Million/$Billion)
    12.1 North America
        12.1.1 U.S.
        12.1.2 Canada
        12.1.3 Mexico
    12.2 Europe
        12.2.1 U.K.
        12.2.2 Germany
        12.2.3 France
        12.2.4 Italy
        12.2.5 Spain
        12.2.6 Russia
        12.2.7 Rest of Europe
    12.3 Asia-Pacific
        12.3.1 China
        12.3.2 India
        12.3.3 Japan
        12.3.4 South Korea
        12.3.5 Australia & New Zealand
        12.3.6 Rest of Asia-Pacific
    12.4 South America
        12.4.1 Brazil
        12.4.2 Argentina
        12.4.3 Rest of South America
    12.5 Rest of the World
        12.5.1 Middle East
        12.5.2 Africa
13. Cocoa Market - Entropy
14. Cocoa Market – Industry/Segment Competition Landscape Premium 
    14.1 Market Share Analysis
        14.1.1 Global Market Share – Key Companies
        14.1.2 Market Share by Region – Key companies
        14.1.3 Market Share by Countries – Key Companies
        14.1.4 Competition Matrix
        14.1.5 Best Practices for Companies
15. Cocoa Market – Key Company List by Country Premium Premium
16. Cocoa Market - Company Analysis
    16.1 Company 1
    16.2 Company 2
    16.3 Company 3
    16.4 Company 4
    16.5 Company 5
    16.6 Company 6
    16.7 Company 7
    16.8 Company 8
    16.9 Company 9
    16.10 Company 10
"*Financials for private companies would be provided on a best efforts basis”.

LIST OF TABLES

1.Global Organic Cocoa Market Analysis and Forecast, By Nature Market 2019-2024 ($M)
1.1 By Nature Market 2019-2024 ($M) - Global Industry Research
1.1.1 Organic Market 2019-2024 ($M)
1.1.2 Conventional Market 2019-2024 ($M)
1.2 Prominent Trends Market 2019-2024 ($M) - Global Industry Research
2.Global Organic Cocoa Market Analysis and Forecast, By Process type Market 2019-2024 ($M)
2.1 By Process type Market 2019-2024 ($M) - Global Industry Research
2.1.1 Natural Market 2019-2024 ($M)
2.1.2 Dutch Market 2019-2024 ($M)
2.2 Prominent Trends Market 2019-2024 ($M) - Global Industry Research
3.Global Organic Cocoa Market Analysis and Forecast, By Product type Market 2019-2024 ($M)
3.1 By Product type Market 2019-2024 ($M) - Global Industry Research
3.1.1 Cocoa Powder Market 2019-2024 ($M)
3.1.2 Cocoa Butter Market 2019-2024 ($M)
3.1.3 Cocoa Liquor Market 2019-2024 ($M)
3.1.4 Cocoa Beans Market 2019-2024 ($M)
3.2 Prominent Trends Market 2019-2024 ($M) - Global Industry Research
4.Global Competition Landscape Market 2019-2024 ($M)
5.Global Organic Cocoa Market Analysis and Forecast, By Nature Market 2019-2024 (Volume/Units)
5.1 By Nature Market 2019-2024 (Volume/Units) - Global Industry Research
5.1.1 Organic Market 2019-2024 (Volume/Units)
5.1.2 Conventional Market 2019-2024 (Volume/Units)
5.2 Prominent Trends Market 2019-2024 (Volume/Units) - Global Industry Research
6.Global Organic Cocoa Market Analysis and Forecast, By Process type Market 2019-2024 (Volume/Units)
6.1 By Process type Market 2019-2024 (Volume/Units) - Global Industry Research
6.1.1 Natural Market 2019-2024 (Volume/Units)
6.1.2 Dutch Market 2019-2024 (Volume/Units)
6.2 Prominent Trends Market 2019-2024 (Volume/Units) - Global Industry Research
7.Global Organic Cocoa Market Analysis and Forecast, By Product type Market 2019-2024 (Volume/Units)
7.1 By Product type Market 2019-2024 (Volume/Units) - Global Industry Research
7.1.1 Cocoa Powder Market 2019-2024 (Volume/Units)
7.1.2 Cocoa Butter Market 2019-2024 (Volume/Units)
7.1.3 Cocoa Liquor Market 2019-2024 (Volume/Units)
7.1.4 Cocoa Beans Market 2019-2024 (Volume/Units)
7.2 Prominent Trends Market 2019-2024 (Volume/Units) - Global Industry Research
8.Global Competition Landscape Market 2019-2024 (Volume/Units)
9.North America Organic Cocoa Market Analysis and Forecast, By Nature Market 2019-2024 ($M)
9.1 By Nature Market 2019-2024 ($M) - Regional Industry Research
9.1.1 Organic Market 2019-2024 ($M)
9.1.2 Conventional Market 2019-2024 ($M)
9.2 Prominent Trends Market 2019-2024 ($M) - Regional Industry Research
10.North America Organic Cocoa Market Analysis and Forecast, By Process type Market 2019-2024 ($M)
10.1 By Process type Market 2019-2024 ($M) - Regional Industry Research
10.1.1 Natural Market 2019-2024 ($M)
10.1.2 Dutch Market 2019-2024 ($M)
10.2 Prominent Trends Market 2019-2024 ($M) - Regional Industry Research
11.North America Organic Cocoa Market Analysis and Forecast, By Product type Market 2019-2024 ($M)
11.1 By Product type Market 2019-2024 ($M) - Regional Industry Research
11.1.1 Cocoa Powder Market 2019-2024 ($M)
11.1.2 Cocoa Butter Market 2019-2024 ($M)
11.1.3 Cocoa Liquor Market 2019-2024 ($M)
11.1.4 Cocoa Beans Market 2019-2024 ($M)
11.2 Prominent Trends Market 2019-2024 ($M) - Regional Industry Research
12.North America Competition Landscape Market 2019-2024 ($M)
13.South America Organic Cocoa Market Analysis and Forecast, By Nature Market 2019-2024 ($M)
13.1 By Nature Market 2019-2024 ($M) - Regional Industry Research
13.1.1 Organic Market 2019-2024 ($M)
13.1.2 Conventional Market 2019-2024 ($M)
13.2 Prominent Trends Market 2019-2024 ($M) - Regional Industry Research
14.South America Organic Cocoa Market Analysis and Forecast, By Process type Market 2019-2024 ($M)
14.1 By Process type Market 2019-2024 ($M) - Regional Industry Research
14.1.1 Natural Market 2019-2024 ($M)
14.1.2 Dutch Market 2019-2024 ($M)
14.2 Prominent Trends Market 2019-2024 ($M) - Regional Industry Research
15.South America Organic Cocoa Market Analysis and Forecast, By Product type Market 2019-2024 ($M)
15.1 By Product type Market 2019-2024 ($M) - Regional Industry Research
15.1.1 Cocoa Powder Market 2019-2024 ($M)
15.1.2 Cocoa Butter Market 2019-2024 ($M)
15.1.3 Cocoa Liquor Market 2019-2024 ($M)
15.1.4 Cocoa Beans Market 2019-2024 ($M)
15.2 Prominent Trends Market 2019-2024 ($M) - Regional Industry Research
16.South America Competition Landscape Market 2019-2024 ($M)
17.Europe Organic Cocoa Market Analysis and Forecast, By Nature Market 2019-2024 ($M)
17.1 By Nature Market 2019-2024 ($M) - Regional Industry Research
17.1.1 Organic Market 2019-2024 ($M)
17.1.2 Conventional Market 2019-2024 ($M)
17.2 Prominent Trends Market 2019-2024 ($M) - Regional Industry Research
18.Europe Organic Cocoa Market Analysis and Forecast, By Process type Market 2019-2024 ($M)
18.1 By Process type Market 2019-2024 ($M) - Regional Industry Research
18.1.1 Natural Market 2019-2024 ($M)
18.1.2 Dutch Market 2019-2024 ($M)
18.2 Prominent Trends Market 2019-2024 ($M) - Regional Industry Research
19.Europe Organic Cocoa Market Analysis and Forecast, By Product type Market 2019-2024 ($M)
19.1 By Product type Market 2019-2024 ($M) - Regional Industry Research
19.1.1 Cocoa Powder Market 2019-2024 ($M)
19.1.2 Cocoa Butter Market 2019-2024 ($M)
19.1.3 Cocoa Liquor Market 2019-2024 ($M)
19.1.4 Cocoa Beans Market 2019-2024 ($M)
19.2 Prominent Trends Market 2019-2024 ($M) - Regional Industry Research
20.Europe Competition Landscape Market 2019-2024 ($M)
21.APAC Organic Cocoa Market Analysis and Forecast, By Nature Market 2019-2024 ($M)
21.1 By Nature Market 2019-2024 ($M) - Regional Industry Research
21.1.1 Organic Market 2019-2024 ($M)
21.1.2 Conventional Market 2019-2024 ($M)
21.2 Prominent Trends Market 2019-2024 ($M) - Regional Industry Research
22.APAC Organic Cocoa Market Analysis and Forecast, By Process type Market 2019-2024 ($M)
22.1 By Process type Market 2019-2024 ($M) - Regional Industry Research
22.1.1 Natural Market 2019-2024 ($M)
22.1.2 Dutch Market 2019-2024 ($M)
22.2 Prominent Trends Market 2019-2024 ($M) - Regional Industry Research
23.APAC Organic Cocoa Market Analysis and Forecast, By Product type Market 2019-2024 ($M)
23.1 By Product type Market 2019-2024 ($M) - Regional Industry Research
23.1.1 Cocoa Powder Market 2019-2024 ($M)
23.1.2 Cocoa Butter Market 2019-2024 ($M)
23.1.3 Cocoa Liquor Market 2019-2024 ($M)
23.1.4 Cocoa Beans Market 2019-2024 ($M)
23.2 Prominent Trends Market 2019-2024 ($M) - Regional Industry Research
24.APAC Competition Landscape Market 2019-2024 ($M)
25.MENA Organic Cocoa Market Analysis and Forecast, By Nature Market 2019-2024 ($M)
25.1 By Nature Market 2019-2024 ($M) - Regional Industry Research
25.1.1 Organic Market 2019-2024 ($M)
25.1.2 Conventional Market 2019-2024 ($M)
25.2 Prominent Trends Market 2019-2024 ($M) - Regional Industry Research
26.MENA Organic Cocoa Market Analysis and Forecast, By Process type Market 2019-2024 ($M)
26.1 By Process type Market 2019-2024 ($M) - Regional Industry Research
26.1.1 Natural Market 2019-2024 ($M)
26.1.2 Dutch Market 2019-2024 ($M)
26.2 Prominent Trends Market 2019-2024 ($M) - Regional Industry Research
27.MENA Organic Cocoa Market Analysis and Forecast, By Product type Market 2019-2024 ($M)
27.1 By Product type Market 2019-2024 ($M) - Regional Industry Research
27.1.1 Cocoa Powder Market 2019-2024 ($M)
27.1.2 Cocoa Butter Market 2019-2024 ($M)
27.1.3 Cocoa Liquor Market 2019-2024 ($M)
27.1.4 Cocoa Beans Market 2019-2024 ($M)
27.2 Prominent Trends Market 2019-2024 ($M) - Regional Industry Research
28.MENA Competition Landscape Market 2019-2024 ($M)

LIST OF FIGURES

1.US Cocoa Market Revenue, 2019-2024 ($M)
2.Canada Cocoa Market Revenue, 2019-2024 ($M)
3.Mexico Cocoa Market Revenue, 2019-2024 ($M)
4.Brazil Cocoa Market Revenue, 2019-2024 ($M)
5.Argentina Cocoa Market Revenue, 2019-2024 ($M)
6.Peru Cocoa Market Revenue, 2019-2024 ($M)
7.Colombia Cocoa Market Revenue, 2019-2024 ($M)
8.Chile Cocoa Market Revenue, 2019-2024 ($M)
9.Rest of South America Cocoa Market Revenue, 2019-2024 ($M)
10.UK Cocoa Market Revenue, 2019-2024 ($M)
11.Germany Cocoa Market Revenue, 2019-2024 ($M)
12.France Cocoa Market Revenue, 2019-2024 ($M)
13.Italy Cocoa Market Revenue, 2019-2024 ($M)
14.Spain Cocoa Market Revenue, 2019-2024 ($M)
15.Rest of Europe Cocoa Market Revenue, 2019-2024 ($M)
16.China Cocoa Market Revenue, 2019-2024 ($M)
17.India Cocoa Market Revenue, 2019-2024 ($M)
18.Japan Cocoa Market Revenue, 2019-2024 ($M)
19.South Korea Cocoa Market Revenue, 2019-2024 ($M)
20.South Africa Cocoa Market Revenue, 2019-2024 ($M)
21.North America Cocoa By Application
22.South America Cocoa By Application
23.Europe Cocoa By Application
24.APAC Cocoa By Application
25.MENA Cocoa By Application