Global Cocoa And Chocolate
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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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 Chocolate Type |
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Market Split by coffee ingredient |
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Market Split by Application |
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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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Report scope is customizable as we have a huge database of Cocoa And Chocolate industry. We can deliver an exclusive report Edition/Consultation as per your data requirements. Request for your Free Sample Pages.
Cocoa And Chocolate Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
According to the Cognitive Market Research Report, the Cocoa and Chocolate Market size in 2023 was XX Million and is projected to have a compounded annual growth rate of XX% from 2024 to 2031.
Cocoa and chocolate are frequently used interchangeably; however, they refer to different phases and kinds of chocolate production. Cocoa is a raw or lightly processed cocoa bean-derived product. After fermentation and drying, the beans are crushed into cocoa mass, which is further refined to yield cocoa butter and cocoa powder. Cocoa powder's strong flavour makes it popular in baking, hot chocolate, and savoury foods. Cocoa butter, a creamy and fragrant fat derived from cocoa beans, is essential in chocolate production, lending it a rich texture and a glossy look. Its moisturizing and nourishing properties make it popular in cosmetics and skincare. Chocolate is the result of the cocoa transformation. It contains cocoa solids, cocoa butter, sweeteners, and, on occasion, other substances. Chocolate is refined into numerous variations, such as dark, milk, and white chocolate, using methods such as conching and tempering.
The benefits of cocoa and chocolate consumption are many. Chocolate is a product manufactured primarily from cocoa. Cocoa includes a lot of polyphenols, especially flavonoids. Many studies have shown that eating foods rich in flavonoids or antioxidants lowers the risk of cardiovascular disease. On the other side, chocolate consumption increases blood flow and lowers blood pressure. It also raises HDL and protects LDL from oxidation. Chocolate intake may lower the risk of heart disease and stroke while improving cognitive ability.
The key driver of this market is health benefits offered by cocoa and chocolates and the key opportunity is reaching out to untapped emerging economies.
Chocolate is a product made with cocoa as a main component. Cocoa contains many polyphenols, particularly flavonoids, which have a high antioxidant activity. According to reports, cocoa contains around 6 - 8% polyphenols by dry weight. The flavonoids are responsible for the health advantages of cocoa and chocolate. Moreover, Cocoa has more flavonoids than tea or red wine. A high concentration of flavonoids boosts advantages in a variety of health-related conditions, including heart disease, cancer, stroke, insulin-dependent disorders, vascular diseases, and many more. Cocoa beans, particularly cocoa powders, are high in flavonoids, a kind of polyphenol that exists naturally.
Many studies show that eating foods high in flavonoids or antioxidants reduces the incidence of cardiovascular diseases. Several studies show that consuming cocoa products is helpful to cardiovascular health. Cocoa's high polyphenol content gives it a broad range of disease prevention and health advantages. Aside from cardiovascular disease, cocoa is effective against a variety of other ailments like diabetes, and inflammatory illnesses.
On the other hand, intake of chocolate improves blood flow and reduces blood pressure. It also boosts HDL and shields LDL from oxidation. Chocolate consumption may reduce the risk of heart disease and stroke, as well as improve cognitive performance. However, further study is needed, and chocolate may have some detrimental health consequences. Regular intake of PS and CF chocolate bars as part of a low-fat diet may benefit cardiovascular health by decreasing cholesterol and improving blood pressure. Harvard Medical School researchers hypothesized that drinking two cups of hot chocolate per day might help maintain brain health and slow memory impairment in the elderly. The researchers discovered that hot chocolate improved blood flow to critical brain areas.
For instance, THEO Chocolate Sea Salt Organic Dark Chocolate Bar is one brand that provides health benefits. With 70% cacao, people can enjoy the delightful sea salt flavour while benefiting from the healthful antioxidants. The brand is also available in delightful flavours such as citrus and caramel bars. (Source: https://www.prevention.com/food-nutrition/healthy-eating/g25728973/healthy-chocolate-bars-snacks/#:~:text=THEO%20Chocolate%20Sea%20Salt%20Organic%20Dark%20Chocolate%20Bar,-%2449%20at%20Amazon&text=Clocking%20in%20at%2070%25%20cacao,like%20citrus%20and%20caramel%20bars.)
Cocoa prices are at all-time highs, indicating a difficult time ahead for firms that rely on this commodity. A variety of variables, including supply limits and bad weather conditions, are driving the spike, creating a challenging terrain for industry players to negotiate. Cocoa market prices have risen steadily since August 2022, despite significant supply constraints for purchasers. Cocoa prices in 2024 increased 3.7% and 33%, 11.8% month on month in January February, and March respectively, spurred by supply worries in key cocoa-producing countries.
End-use sectors, particularly the chocolate, confectionery, baking, and cosmetic industries, are losing money as high costs influence profitability. The worldwide chocolate business, worth over $120 billion, utilizes almost 40% of all cocoa production and is significantly affected by the rising cocoa prices. Moreover, there are continued labour shortages that hamper the production of cocoa.
Cocoa supply is expected to decrease by almost 11% year-on-year to 4.45 MMT. This is because of climate change, rising input prices, and the potential of pest and disease outbreaks in important cocoa-producing countries.
Africa produces over 74% of the world's cocoa, with Côte d'Ivoire, Ghana, Cameroon, and Nigeria being the top producers. This dominance in cocoa production exacerbates supply chain concerns since transitioning to alternate-producing regions is more difficult than for other commodities. This hampers the cocoa and chocolate market.
El Niño and climate change, namely Harmattan winds, are causing moisture stress in West Africa, affecting cocoa harvests in the long run.
Furthermore, El Niño is generating decreased dew points and higher temperatures in West Africa. This is creating drought stress, hurting pod development, and resulting in a worldwide cocoa shortfall of 400,000 MT from 2023-2024. Various pests and diseases pose substantial obstacles to cocoa production, resulting in estimated losses of 30-40% worldwide.
Furthermore, farmers in Ivory Coast, Ghana, and Nigeria have experienced black pod disease on their farms. This illness has destroyed around 500,000 hectares of farms in Ghana, resulting in a decrease in cocoa output to 600,000 MT from MY2022-MY2023. (Source: https://www.thesmartcube.com/resources/blog/cocoa-crunch-what-is-causing-the-recent-surge-in-cocoa-prices-and-what-does-it-mean-for-your-business/)
Exploring new markets is one such opportunity. As chocolate becomes more popular in previously untouched markets, Cocoa Industries’ dependable and efficient machinery helps chocolatiers build a strong presence and win over new customers.
The internet age has made e-commerce and digital marketing possible, allowing chocolatiers to access a larger audience. Companies can recognize the significance of this transformation and assist chocolatiers in exploiting Internet channels to increase their reach and sales. The company's equipment can enable businesses to easily create huge quantities of high-quality chocolates while meeting the needs of online sales and special requests.
Collaboration with other businesses opens up yet another path for growth in the chocolate industry. The Cocoa and chocolate production industries can recognize the potential synergies between coffee, craft beer, confectionery, and desserts. Chocolate makers may produce unique flavour combinations and product offers that appeal to a wide variety of tastes and preferences by collaborating with these industries. Companies' flexible machines, like as roasters and grinders, provide chocolatiers the freedom and ability to experiment with these combinations and produce exciting new creations.
Product variety and customization are becoming increasingly significant in the chocolate industry. Consumers want unique and personalized experiences, and industry machines help chocolatiers satisfy these expectations. Moreover, roasters, winnowers, grinders, refiners, and conch machines enable small-scale artists and large-scale producers to make a diverse range of chocolate products adapted to specific market segments. This level of customization not only improves the user experience but also opens up new possibilities and increases market share.
The COVID-19 epidemic has had a significant impact on the food and beverage processing sector. Socioeconomic conditions have had a detrimental impact on consumption patterns for specific items. COVID-19 limits resulted in losses for cocoa growers in minor but important cocoa-producing nations, as supply outpaced demand in the early months of the epidemic. This caused a considerable drop in cocoa prices According to the International Cocoa Organisation (ICCO) in New York, nearby cocoa contract prices averaged USD 2,528 per tonne in January 2021, down 6% from the previous crop year's average of USD 2,675 per tonne.
The COVID-19-related lockdowns effectively locked down many key distribution points for cocoa and chocolate-producing enterprises, including restaurants, hotels, and other food service establishments, resulting in lower chocolate sales across all application sectors. During COVID-19, the chocolate industry saw a shift towards darker chocolate kinds, which consumers favoured over other types due to superior health advantages and reduced calorie content. The current pandemic's trend of consuming low-sugar and sugar-free goods to preserve general health is expected to open up tremendous potential for producers.
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The competitive landscape analysis of the Cocoa and Chocolate market is primarily concerned with expanding the global growth of the cocoa and chocolate industries through new product innovation, business expansion, and the growing presence of a variety of manufacturers operating in the cocoa and chocolate sectors, which has resulted in increased market demand. Furthermore, the market provides a variety of goods in various applications to meet customer demand, which contributes to the industry's continued expansion.
For instance, The Niche Cocoa Industry announced in November 2022 that it will expand its production facilities in Franklin, Wisconsin. The expansion will also increase the company's direct presence in the United States by expanding its worldwide market footprint. (Source: https://wedc.org/blog/niche-cocoa-locates-first-north-american-manufacturing-facility-in-franklin-wisconsin/)
Top Companies Market Share in Cocoa And Chocolate Industry: (In no particular order of Rank)
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Europe dominates the global market, accounting for USD XX billion in 2023. Many of the world's main industrial chocolate makers are headquartered in Europe, including Belgium, the Netherlands, Germany, and Switzerland. The region is a major producer and consumer of chocolate and related items. The European cocoa market is quite diversified, with European purchasers sourcing cocoa beans of varying quality and origins to fulfill the demands of the cocoa and chocolate sectors. Europe along with North America is the world's largest importer of cocoa beans, accounting for 61% of all imports.
According to the Centre for the Promotion of Imports from Developing Countries (CBI), Europe's total cocoa bean imports in 2023 were anticipated to reach XX million tonnes. Furthermore, as consumer knowledge of sustainable cocoa production has grown, so has demand for chocolate made sustainably. The region's sustainability platforms are working more closely together to increase transparency.
The market's expansion is driven by consumers' growing choice for chocolates over other delicacies for celebrations and health-conscious consumption, as well as a growing trend of specialty chocolates such as single-origin bean-to-bar chocolates. This, along with the availability of a wide range of cocoa yields in Europe, has encouraged chocolate producers to enter the premium chocolate market and offer specialized goods.
The current report Scope analyzes Cocoa And Chocolate 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. To learn more about geographical trends request the free sample pages. Contact US!
Global Cocoa And Chocolate 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 Cocoa And Chocolate Industry growth. Cocoa And Chocolate market has been segmented with the help of its Chocolate Type, coffee ingredient Application, and others. Cocoa And Chocolate 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.
In 2023, filled chocolates held the biggest market share. The increased popularity of filled chocolates such as truffles and bonbons indicates that customers are seeking a novel way to enjoy their favourite indulgence making it a dominant chocolate type than others. The increasing indulgence of key demographics in multi-flavoured chocolate consumption, combined with market players experimenting with developing novel types of filled chocolates such as truffles and bonbons, is expected to meet the increase in demand for filled chocolate and drive segment growth. Moreover, filled chocolates are gaining appeal as sumptuous holiday presents.
For instance, in October 2022, Frankford Candy and Dunkin' Donuts announced the release of limited-edition chocolate sweets and bombs inspired by the Dunkin product line. The new product includes 12 individually wrapped donut-shaped chocolates with various fillings. The product introduction is designed to expand the company's consumer base and increase its market position in the chocolate industry. (Source: https://news.dunkindonuts.com/news/dunkin-frankford-holiday-2022)
Thus, new introductions to meet customers' increasing desire for filled chocolates are expected to fuel growth.
The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Cocoa And Chocolate Industry. Request a Free Sample PDF!
In 2023, butter held the biggest market share. The increased usage of cocoa butter in the cosmetic sector for the creation of skincare and food items, together with a rising desire for natural cosmetics among key consumers, is expected to increase demand for cocoa butter. This, together with leading industry players producing personal care products to satisfy customers seeking natural alternatives to standard cosmetics, is likely to drive market growth. Palmer, for example, debuted a new line of cocoa butter-based body care goods in November 2021, which included lotions and other everyday skincare items. Cocoa butter-based lotions provide significant benefits to customers, such as enhanced skin moisturization and nutrition through added vitamins, which encourage their use.
As a result, the primary benefits of cocoa butter-based body care cosmetics, as well as the growing acceptance of cocoa-based products among target customers, are expected to boost the cocoa butter market. Furthermore, cocoa butter-based products are seen as luxury goods by customers, changing their preferences away from traditional cosmetics and encouraging the segment's growth.
The above Graph is for representation purposes only. This chart does not depict actual Market share. Please purchase the Cocoa And Chocolate market report 2024 Edition by contacting our team.
The food and beverage sector holds a dominant share in the cocoa and chocolate market. Rising consumer health awareness, along with increased consumption of bakery items such as chocolate-infused cookies, doughnuts, cupcakes, rolls, sweet rolls, cakes, pies, and coffee cakes, is expected to drive demand for cocoa and chocolate.
Furthermore, the increasing demand in the beverage industry is likely to drive market development. Consumers' preference for beverage selection, which is determined by the flavour profile of the beverage, drives demand. Various product offers, such as chocolate-infused alcoholic beverages and chocolate syrups, are improving the market availability of cocoa-based drinks, hence promoting sector growth. This, paired with decreasing a beverage's sugar content by increasing the quantity of cocoa, allows new customer groups to choose chocolate beverages over artificially sweetened alternatives.
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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 Cocoa And Chocolate Market is witnessing significant growth in the near future.
In 2023, the Dark segment accounted for noticeable share of global Cocoa And Chocolate Market and is projected to experience significant growth in the near future.
The Butter segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies Barry Callebaut, Nestle SA and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Disclaimer:
Chocolate Type | Dark, Milk, White, Filled |
coffee ingredient | Butter, Liquor, Powder |
Application | Food & Beverage, Cosmetics, Pharmaceuticals, Others |
List of Competitors | Barry Callebaut, Cargill, Nestle SA, Mars, Hershey, Blommer Chocolate, FUJI OIL, Puratos, Cmoi, Irca, Foley's Candies LP, Olam, Kerry, Guittard, Ferrero, Ghirardelli, Alpezzi Chocolate, Valrhona, Republica Del Cacao, TCHO, Others |
This chapter will help you gain GLOBAL Market Analysis of Cocoa And Chocolate. Further deep in this chapter, you will be able to review Global Cocoa And Chocolate 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.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
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Qualitative Analysis for the North America Market: North America Cocoa And Chocolate Market Trends North America Cocoa And Chocolate Technological Road Map North America Cocoa And Chocolate Market Drivers North America Cocoa And Chocolate Market Restraints North America Cocoa And Chocolate Market Opportunity Market Attractiveness Analysis COVID – 19 Impact Analysis PESTEL Analysis Porter’s Five Forces Analysis Product Life Cycle Industrial Chain Analysis
You can purchase only the Executive Summary North America Market (2019 vs 2024 vs 2031)
Chapter 3 Europe Market Analysis
You can purchase only the Executive Summary Europe Market (2019 vs 2024 vs 2031)
Chapter 4 Asia-Pacific Market Analysis
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Chapter 5 South America Market Analysis
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Chapter 6 Middle East and Africa Market Analysis
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Only Available with Corporate User License
Chapter 7 Top 10 Countries Analysis
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.
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.
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 Chocolate Type Analysis 2019 -2031, will provide market size split by Chocolate 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 Chocolate Type Analysis 2019 -2031
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 11 Market Split by coffee ingredient Analysis 2019 -2031
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Chapter 12 Market Split by Application Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Cocoa And Chocolate 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 Dark have a significant impact on Cocoa And Chocolate market? |
What are the key factors affecting the Dark and Milk of Cocoa And Chocolate Market? |
What is the CAGR/Growth Rate of Butter during the forecast period? |
By type, which segment accounted for largest share of the global Cocoa And Chocolate Market? |
Which region is expected to dominate the global Cocoa And Chocolate Market within the forecast period? |
Segmentation Level Customization |
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Region level Data Customization |
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Country level Data Customization |
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Company Level |
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Additional Data Analysis |
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Additional Qualitative Data |
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Additional Quantitative Data |
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