Global Cacao Bean
Market Report
2024
Delivery Includes:- Market Timeline 2019 till 2031, Market Size, Revenue/Volume Share, Forecast and CAGR, Competitor Analysis, Regional Analysis, Country Analysis, Segment Analysis, Market Trends, Drivers, Opportunities, Restraints, ESG Analysis, Porters Analysis, PESTEL Analysis, Market Attractiveness, Patent Analysis, Technological Trend, SWOT Analysis, COVID-19 Analysis, Consumer Behavior Analysis, etc.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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• According to Cognitive Market Research, the Cacao Beans market Size will be USD XX Billion in 2023 and is set to achieve a market size of USD XX Billion by the end of 2031 growing at a CAGR of XX% from 2024 to 2031.Around the world, there has been an increase in demand for chocolate variations and thus the demand for cacao beans.
• Growing demand for cocoa based products due to awareness about benefits of cocoa beans and Increase of Cacao beans in Confectionery Industry, Food and beverage industry and Cosmetic Industry are the main drivers.
• Problem of child labour and slavery in the Chocolate Industry. Profit margins can be impacted by weather-related price fluctuations, disease outbreaks, and political unrest.
• Europe is the primary producer and exporter of chocolate but North America is expected to be the fastest growing market.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Market Size | 121212 |
Country Market Size | 121212 |
North Americ Market Size | 121212 |
Europe Market Size | 121212 |
Asia Pacific Market Size | 121212 |
South America Market Size | 121212 |
Middle East and Africa Market Size | 121212 |
Market Split by Type |
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Market Split by Application |
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Market Split by Product |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Key Qualitative Information Covered |
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According to Cognitive Market Research, the Cacao Beans market Size will be USD XX Billion in 2023 and is set to achieve a market size of USD XX Billion by the end of 2031 growing at a CAGR of XX% from 2024 to 2031. Cacao is the seed from the cacao tree, which is used to make cocoa and cocoa butter, the main ingredients in chocolate. The beans can also be crushed or chopped into nibs for various culinary uses, like adding them to salad dressing or ice cream toppings.Around the world, there has been an increase in demand for chocolate variations and thus the demand for cacao beans. For example, Cote d'Ivoire is the world's largest producer, with 2.2 million metric tons of cocoa beans produced annually accounting for 38% of global cocoa bean production. Ghana, Indonesia, and Nigeria follow in second and third place, respectively.(Source:https://www.visualcapitalist.com/worlds-top-cocoa-producing-countries/#:~:text=With%202.2%20million%20tonnes%20of,and%20earn%20%241.20%20each%20day.)The price of cocoa has a significant impact on the country's economy, and the export of cocoa beans accounts for the majority of export revenue. Growing demand for cocoa-based products due to awareness about the benefits of cocoa beans and the Increase of Cacao beans in the Confectionery Industry, Food and beverage industry, and Cosmetic Industry are the main drivers.
The market for cocoa beans is expanding as people become more aware of the advantages eating beans high in cocoa has for their health. Among its many health advantages for humans, cocoa helps lower blood pressure, prevent sunburn, and treat chronic fatigue syndrome. Polyphenols, which are abundant in cocoa, aid in shielding the body's tissues from oxidative stress and associated diseases like cancer and inflammation. For Instance, Two Swedish Studies found by A comprehensive analysis of nine studies involving 157,809 individuals revealed that increased chocolate intake was linked to a markedly decreased risk of heart disease, stroke, and mortality. At doses of up to one serving of 0.7–1.1 ounces (19–30 grams) of chocolate per day, eating chocolate is associated with a lower rate of heart failure; however, the effect was not observed when consuming higher amounts. (Source:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC5172457/)These findings imply that regularly consuming tiny amounts of chocolate with a high cocoa content may have heart-protective advantages.Some of the major trends in the chocolate product industry that have been noticed in the market for cacao beans are sugar replacement and reduction. The sugar derived from cacao pulp is assisting producers in growing their vegan clientele. But refined sugar and sugar made from cacao pulp have almost equal amounts of calories. Therefore, sugar derived from plant-based sources, like cacao, is easily metabolized by the body and meets the needs of health-conscious consumers. Innovations in plant-based chocolate are drawing customers' attention more and more. For Instance, Nestlé S.A., a multinational food and drink processing conglomerate corporation based in Switzerland, recently announced the introduction of their unique Kitkat Chocolatory Cacao Fruit Chocolate in Japan. The product is said to be made solely of cacao beans and pulp. (Source:https://www.nestle.com/media/news/nestle-japan-launches-kitkat-cocoa-fruit-chocolate) As silica, businesses in the market for cacao beans are modeling themselves after leading industry participants to use dried fruit sugar made from cacao pulp in place of refined sugar in chocolate
All age groups enjoy consuming chocolate in large quantities. It contains high levels of polyphenols, fat, proteins, carbs, and other bioactive substances. The primary ingredient used to make chocolate is cocoa beans. Fermentation, drying, roasting, grinding cocoa beans, combining all ingredients (cocoa mass, sugar, cocoa butter, emulsifiers, scent, and milk components if necessary), conching, and tempering are the steps involved in making chocolate. The processes of fermentation, drying, roasting cocoa beans, and conching chocolate mass involve significant chemical reactions. The most crucial reactions for the development of flavor and aroma are these.Additionally, confectioners use it to coat candy bars and bulk or boxed chocolates; bakers and manufacturers of bakery products use it to coat a variety of cakes and cookies; ice cream companies use it to coat frozen novelty items. Large quantities of cocoa powder, chocolate liquor, and blends of the two are used to flavor a wide range of food items and to supply flavors for "chocolate" goods like syrups, toppings, chocolate milk, prepared cake mixes, and medications.The anti-inflammatory qualities of cocoa butter can help lessen the redness and irritation that come with eczema and psoriasis, among other conditions. Additionally, because cocoa butter can rehydrate the skin by penetrating deeply into the layers, it can be used to soothe sunburns.Because of its hydrating and shielding qualities, cocoa butter is a common component in many skincare products. It lessens the appearance of wrinkles, lessens skin dryness, and keeps skin from chapping and cracking. Antioxidants, which are abundant in cocoa butter, aid in shielding the skin from harm from the environment. For example, Himalaya Wellness Company's most recent campaign was introduced in December 2022. "#Dry SkinFeelsBetterWithHimalayaCocoaButter" is the hashtag for it. The company's well-liked winter-care line includes the campaign. It highlights how important cocoa butter, wheat germ oil, and plant-based glycerine are for soothing and moisturizing the skin. (Source:https://www.afaqs.com/news/advertising/himalaya-cocoa-butter-intensive-body-lotion-launches-new-campaign)
Limited cocoa production and unstable cocoa prices hinder the market's expansion. Mineral content is high in cacao beans, which are used to make dark chocolate, nibs, and unsweetened cocoa powder. The company that owns the Cadbury brand, Mondelez, stated last month that one of the challenges it would face in the coming year was the rising cost of ingredients.Farmers have experienced difficulties with profitability and productivity as a result of the weed accumulation, which raises the possibility of crop damage. The majority of cocoa bean growers (Criollo & Forastero) have also shifted their focus to cultivating other crops with high yields. It is anticipated that these issues will negatively affect supply dynamics, impeding the expansion of businesses. For Instance, Hershey released its financial results for the three months ended December 31 concurrently with the remarks. According to the data, sales decreased by 6.6% as consumers, who were negatively impacted by inflation, spent less on chocolateA UK consumer group called Which claimed in December that the cost of some holiday chocolate boxes had increased by at least 50% in the previous year. Although the overall rate of inflation for food and drink in UK supermarkets decreased to 8.3% in November, the rate of increase for chocolate prices was much higher at 15.3%. (Source:https://www.bbc.com/news/business-68248145)
The chocolate industry bears the colonial legacy of the European chocolate companies who brought cocoa to Western Africa in the first place, hoping to grow it where labor was cheap or free. Cheap cocoa has become more and more in demand over time, along with the growth of the chocolate industry. The majority of cocoa farmers make less than $1 a day, which is below the federal poverty threshold Because of this, they frequently turn to using child labor to maintain their competitive prices. For Instance, About 2.1 million kids labor in Ghana and the Ivory Coast. It is possible that the kids won't see their families again for years or even decades after being transported to the cocoa farms. A child who has been trafficked will probably not be permitted to return home if they wish to because the trafficker has sold them to work on the cocoa farms for a set period.Reporters have discovered children as young as five years old, but the majority of children working on cocoa farms are between the ages of twelve and sixteen. Furthermore, girls make up 40% of these kids, and some of them continue to work on cocoa farms as adults.The Ivory Coast enacted laws in 2015 prohibiting child labor under 16 and mandating school attendance until the age of 16, but these laws have not had much of an effect on children who are trafficked to work on cocoa farms. For example, Traore, a cocoa laborer, told a reporter during a Washington Post investigation that he was 19 years old, but when the farmer in charge of him wasn't looking, Abou disclosed that he was 15 years old. (Source:https://foodispower.org/human-labor-slavery/slavery-chocolate/)
The lockdown made it more difficult to buy expensive and seasonal goods. As a result, the sale of cocoa products during Easter produced disappointing results. The interruption of the supply chain in nations that produce cocoa will result in a significant scarcity of the commodity, which worries producers of organic cocoa.
Additionally, because of the worldwide quarantine and travel restrictions, retail sales of confectionery have stopped.In addition, because COVID-19 has impeded market expansion, chocolate producers are facing supply constraints that drive up cocoa prices. Unfavorable weather affects the yield and quality of cocoa beans, making it one of the main factors limiting the market for cocoa bean extract. Consumer behavior changed in the market on the demand side. During lockdowns, there was a temporary decline in the demand for non-essential cocoa-based products and premium chocolates, but there was a surge in demand for essential food products. The decline in foot traffic in retail establishments and the challenges faced by the hospitality sector affected the consumption of cocoa derivatives, especially in premium segments.
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Numerous mid-sized and small competitors have caused the market to be fragmented for a considerable amount of time. Major players prioritize product innovation, production capacity expansion, and mergers and acquisitions. Furthermore, intense competition in the market encourages high levels of product innovation in terms of types, quick testing kits, marketing, and other areas. For Instance, The global cocoa bean market's competitive landscape has been completely turned upside down by Barry Callebaut. The company recently unveiled the first chocolate made exclusively from cacao fruit. This factor is expected to drive demand in the global cocoa bean market in the next years. (Source:https://economictimes.indiatimes.com/small-biz/trade/exports/insights/cocoas-relentless-rally-is-pushing-the-market-to-breaking-point/articleshow/108866836.cms?from=mdr)
There are opportunities as well as challenges in this competitive environment. Profit margins can be impacted by weather-related price fluctuations, disease outbreaks, and political unrest. In a similar vein, the market for luxury chocolate influences sourcing tactics and prices by increasing competition for superior beans.
Another challenge is ethical labor practices, as the sector is under investigation for using child labor and paying unfair wages. But these issues are lso being resolved. For Instance, October 2022: To help Ivory Coast address child labor and deforestation associated with cocoa production, the European Union and its allies intend to raise 450 million euros (USD 442 million). (Source:https://www.bnnbloomberg.ca/eu-pledges-funds-to-help-end-child-labor-in-top-cocoa-producer-1.1835214)
Top Companies Market Share in Cacao Bean Industry: (In no particular order of Rank)
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Europe is the primary producer and exporter of chocolate. The European cocoa market is quite diverse because consumers there purchase cocoa beans of different quality and origin to satisfy the demands of the cocoa and chocolate industries. For Instance, Each person in Europe consumes 5.0 kg of chocolate on average. As a result of the coating's growing significance in the flavor-enhancing processing of fruits, vegetables, and cereals, product demand is predicted to rise. In order to meet the demands of a complex market that includes demands for quality and taste from consumers as well as cost-effectiveness, food safety, and efficiency, multiple types of cacao beans are required. (Source:https://www.cbi.eu/market-information/cocoa/what-demand
Cacao Beans must create healthful goods that adhere to international food safety regulations as well as European law. It is impossible to overestimate the significance of maintaining a consistently high standard for cacao beans as the source of their distinct flavor and nutritional value. In a market that is extremely competitive, chocolate sales depend heavily on value and quality.
• The Netherlands is expected to hold the largest market share of cacao beans in Europe in coming years. For Instance, in partnership with Singapore-listed Olam, Archer Daniels Midland (ADM) has purchased Usicam, one of Cameroon's largest facilities for the warehousing, cleaning, drying, and other associated operations of cacao. (Source:https://www.reuters.com/article/idUSKCN0SA24S/)This indicates the strength of the maket's future growth.
The current report Scope analyzes Cacao Bean Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only.
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Global Cacao Bean Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Cacao Bean Industry growth. Cacao Bean market has been segmented with the help of its Type, Application Product, and others. Cacao Bean market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
The cacao plant comes in four main varieties: forastero, criollo, trinitario, and nacional. The world's chocolate production is still dominated by the Forastero variety. Farmers found forastero to be an easy choice due to its high-yielding plants, in fact, until the middle of the 20th century, growers substituted the low-quality forastero crop for the criollo crop. Owing to their delicate nature, vulnerability to illness, and poor yield, criollo plants currently account for less than 1% to 5% (expert opinions vary on this percentage) of global crop production. Craft chocolatiers highly prize the heirloom varieties of criollo beans because of their distinctive and complex flavor, which is partly responsible for their rarity.Trinitario beans account for less than 10% of the world's cacao production, despite not being as uncommon as criollo beans.. Nacional is the fourth and least well-known variety of cacao. It wasn't until 2011 that this bean variety was found again in Peru. It's considered the world's rarest cacao in its purest form.(Source:https://barandcocoa.com/pages/varieties-of-cocoa-beans)
• Criollo Cocoa Beans
• Forastero Cocoa Beans
• Trinitario Cocoa Beans
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Food and beverage applications are anticipated to lead the market. The food and confectionery industries in Europe have a strong demand for products made from cacao. Bars, chocolate tablets, pralines, candies, and spreads all contain cacao. The production of these goods in Europe stayed largely consistent. Germany was Europe's top producer of chocolate goods in 2021. German chocolate products are regularly imported by American chocolate shops to be sold alongside American brands.Strong growth in the dark chocolate market is expected to continue to be driven by rising purchasing power in emerging economies like China and India. . The product has a significant pharmacological role since it lowers the risk of cardiovascular disease (CVD), maintains cholesterol levels, and protects cell membranes. Eating chocolate bars enhanced with cocoa powder in moderation lowers insulin sensitivity and blood pressure. A significant portion of flavonoids, which lower the risk of cancer and other cancer-related disorders, are also present in cocoa. Demand for products in this market is predicted to increase due to a favourable outlook for the health and wellness sector among working adults in developed economies through accessibility initiatives.
• Cosmetics
• Confectionery
• Pharmaceuticals
• Functional Food
• Beverages
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There are three types of product, Cocoa butter,powder and liqor. Cocao powder has the largest segment in the market and liqor has the least. One kind of fat derived from cocoa beans is called cocoa butter. The larger cacao plant's beans are removed in order to produce cocoa butter. After that, they are stripped, roasted, and pressed to extract the cocoa butter, which is the fat. After that, the leftovers are turned into cocoa powder. Phytochemicals are naturally occurring plant compounds that are abundant in cocoa butter. These compounds can prevent damage from the sun's harmful UV rays, which can improve blood flow to the skin and slow down the aging process.
Despite what its name might imply, cocoa liquor is unrelated to alcohol.
In actuality, it's an essential step in the production of chocolate.
Cocoa liquor, sometimes referred to as cocoa mass or unsweetened chocolate, is the purest chocolate—it contains no milk, sugar, or other additives.
Both cocoa butter and cocoa solids, which give this cocoa liquor its smooth, melt-in-your-mouth texture and unique chocolate flavor, are present.
For Instance, Cocoa liquor is used in some classic drinks, like the Mexican "Champurrado," because of its rich flavor. It is combined with spices, piloncillo, and masa to make a warming, rich drink. (Source:https://www.whitakerschocolates.com/blog/what-is-cocoa-liquor/#:~:text=Beverages%3A%20Certain%20traditional%20drinks%2C%20such,finds%20use%20in%20specialised%20confectionery.)
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Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global Cacao Bean Market is witnessing significant growth in the near future.
In 2023, the Criollo Cocoa Beans segment accounted for noticeable share of global Cacao Bean Market and is projected to experience significant growth in the near future.
The Cosmetics segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies Cargill, Olam International Limited and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Please note, we have not disclose, all the sources consulted/referred during a market study due to confidentiality and paid service concern. However, rest assured that upon purchasing the service or paid report version, we will release the comprehensive list of sources along with the complete report and we also provide the data support where you can intract with the team of analysts who worked on the report.
Disclaimer:
Type | Criollo Cocoa Beans, Forastero Cocoa Beans, Trinitario Cocoa Beans |
Application | Cosmetics, Confectionery, Pharmaceuticals, Functional Food, Beverages |
Product | Cocoa butter, Cocoa powder, Cocoa liquor |
List of Competitors | Cargill, Theobroma B.V., Olam International Limited, Ciranda Inc., Barry Callebaut AG, Dutch Cocoa B.V., Niche Cocoa Industry Ltd., PT. Danora Agro Prima, United Cocoa Processors Inc., Cocoa Processing Company |
This chapter will help you gain GLOBAL Market Analysis of Cacao Bean. Further deep in this chapter, you will be able to review Global Cacao Bean Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
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Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
Chapter 3 Europe Market Analysis
Chapter 4 Asia Pacific Market Analysis
Chapter 5 South America Market Analysis
Chapter 6 Middle East and Africa Market Analysis
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Chapter 7 Top 10 Countries Analysis (Only Available with Corporate User License)
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Type Analysis 2019 -2031, will provide market size split by Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Type Analysis 2019 -2031
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Chapter 11 Market Split by Application Analysis 2019 -2031
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Chapter 12 Market Split by Product Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Cacao Bean market
Chapter 13 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Criollo Cocoa Beans have a significant impact on Cacao Bean market? |
What are the key factors affecting the Criollo Cocoa Beans and Forastero Cocoa Beans of Cacao Bean Market? |
What is the CAGR/Growth Rate of Cosmetics during the forecast period? |
By type, which segment accounted for largest share of the global Cacao Bean Market? |
Which region is expected to dominate the global Cacao Bean Market within the forecast period? |
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