Cocoa Beans Market Report 2024 (Global Edition)

Global Cocoa Beans Market Report 2024 Market Size Split by Cocoa Bean Type (Criollo Cocoa Beans, ForasteroCocoa Beans, Trinitario Cocoa Beans), by Application (Confectionery, Functional Food & Beverag...

Cocoa Beans Market Report Description

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Competitive Landscape of the Cocoa Beans market

The competitive landscape of the generators market is characterized by the presence of several global and regional players vying for market share. Major companies in the industry include Cummins Inc., Caterpillar Inc., Generac Holdings Inc., Kohler Co., and Atlas Copco AB, among others.

Cocoa Beans Industry News

In June 2021, In Divo, a town known for its significant cocoa production, the Ivory Coast is collaborating with the US Trade and Development Agency to develop a biomass plant fueled by cocoa waste.

(Source:https://www.foodbusinessafrica.com/ivory-coast-to-add-value-to-cocoa-waste-invests-us244m-in-cocoa-powered-bio-diesel-plant/)

In March 2017, CÉMOI Group purchased Chris Candies, a private label and contract manufacturing company located in Pittsburgh, Pennsylvania. Chris Candies specializes in premium, organic, and low-sugar products.

(Source:https://www.snackandbakery.com/articles/102091-cemoi-group-acquires-pittsburgh-based-chris-candies)

Top Companies Market Share in Cocoa Beans Industry: (In no particular order of Rank)

• Mars Inc.
• Barry Callebaut AG
• Cargill
• Archer-Daniels-Midland (ADM)
• Blommer Chocolate Company
• Olam International
• JB Foods Ltd (JB Cacao)
• BT Cacao
• Ecom Agro industrial Corp. Ltd
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Regional analysis of the Cocoa Beans Market

Which Region Dominates the Cocoa Beans Market in 2024?

According to Cognitive Market Research, North America dominated the market in 2024 and accounted for around 40% of the global revenue. North America dominates the Cocoa Beans market due to several strategic advantages that position the region at the forefront of the industry. The United States, in particular, is a major importer and processor of cocoa beans, with a strong presence of key chocolate manufacturers and confectionery companies. Moreover, North America benefits from a high consumption of chocolate and cocoa-based products, driving the demand for cocoa beans. Additionally, the region's advanced technology and processing capabilities enable efficient cocoa bean processing and chocolate production.

Which Region is Expanding at the Fastest CAGR?

Asia Pacific emerges as the fastest-growing region in the Cocoa Beans market due to several dynamic factors propelling its rapid expansion. The region encompasses countries experiencing rapid urbanization and a rising middle class, such as China, India, and Southeast Asian nations, leading to an increasing demand for chocolate and cocoa-based products. Moreover, Asia Pacific benefits from a growing awareness of the health benefits of cocoa, driving consumer demand for premium and specialty chocolates. Furthermore, the growing food and beverage sector in the area, along with shifting consumer tastes and an increasing desire for Western sweets, continues to drive the need for cocoa beans.

The current report Scope analyzes Cocoa Beans 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

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Cocoa Beans Market

According to Cognitive Market Research, the global Cocoa Beans market size was estimated at USD 13814.2 Million out of which North America held the major market of more than 40% of the global revenue with a market size of USD 5525.68 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.2% from 2024 to 2031. In North America, the cocoa beans market exhibits a steady growth trajectory driven by factors such as the high consumption of chocolate products, growing demand for premium and artisanal chocolates, and increasing awareness of the health benefits associated with cocoa consumption. The market segmentation analysis reveals a diverse range of applications for cocoa beans, including confectionery, functional food and beverage, pharmaceuticals, cosmetics, and others. Confectionery remains the dominant segment, fueled by the popularity of chocolate products among consumers. North America boasts a well-established distribution network, encompassing both online and offline channels, which ensures widespread availability of cocoa beans to consumers across the region. In conclusion, the North America cocoa beans market presents lucrative opportunities for manufacturers, retailers, and suppliers due to the region's robust chocolate consumption, growing interest in functional foods, and well-developed distribution infrastructure.

• According to Cognitive Market Research, the US had a major share in the Cocoa Beans market with a market size of USD 4359.76 million in 2024 and is projected to grow at a CAGR of 5.0% during the forecast period. The demand is amplified by the growing demand for premium and artisanal chocolates propel consistent growth. 
• The Canada Cocoa Beans market had a market share of USD 663.08 million in 2024 and is projected to grow at a CAGR of 6.0% during the forecast period. Canada's increasing awareness of the health benefits associated with cocoa consumption to increased usage of Cocoa Beans.
• The Mexico Cocoa Beans market is projected to witness growth at a CAGR of 5.7% during the forecast period with a market size of USD 502.84 million in 2024.

Europe Cocoa Beans Market

According to Cognitive Market Research, the global Cocoa Beans market size was estimated at USD 13814.2 Million out of which Europe market of more than 30% of the global revenue with a market size of USD 4144.26 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.5% from 2024 to 2031.The cocoa beans market reflects a mature yet dynamic landscape driven by the region's rich tradition of chocolate consumption and the growing demand for sustainable and high-quality cocoa products. Regional analysis reveals that Europe is one of the largest consumers and importers of cocoa beans globally, with countries like Switzerland, Belgium, and Germany renowned for their chocolate manufacturing prowess. The segmentation analysis of the market showcases diverse applications of cocoa beans, including confectionery, functional food and beverages, pharmaceuticals, cosmetics, and others. In conclusion, the Europe cocoa beans market presents both challenges and opportunities for stakeholders. While the region's mature market poses stiff competition, there is growing demand for premium and sustainable cocoa products.

• The United Kingdom Cocoa Beans market had a market share of USD 696.24 million in 2024 and is projected to grow at a CAGR of 6.3% during the forecast period. In the UK, Cocoa Beans sales witness an upswing due to the region's rich tradition of chocolate consumption and the growing demand for sustainable and high-quality cocoa products.
• The France Cocoa Beans market is projected to witness growth at a CAGR of 4.7% during the forecast period with a market size of USD 381.27million in 2024.
• According to Cognitive Market Research, the Germany Cocoa Beans market size was valued at USD 820.56million in 2024 and is projected to grow at a CAGR of 5.7% during the forecast period. In Germany, Cocoa Beans sales surge due to the growing demand for sustainable and high-quality cocoa products. 
• The Italy Cocoa Beans market is projected to witness growth at a CAGR of 4.9% during the forecast period with a market size of USD 356.41million in 2024.
• The Russia Cocoa Beans market is projected to witness growth at a CAGR of 4.5% during the forecast period with a market size of USD 642.36 million in 2024.
• The Spain Cocoa Beans market is projected to witness growth at a CAGR of 4.6%during the forecast period with a market size of USD 339.83 million in 2024.
• The Luxembourg Cocoa Beans market is projected to witness growth at a CAGR of 5.6% during the forecast period with a market size of USD 128.47 million in 2024.
• The Portugal Cocoa Beans market is projected to witness growth at a CAGR of 5.3% during the forecast period with a market size of USD 87.03 million in 2024.
• The Greece Cocoa Beans market is projected to witness growth at a CAGR of 5.8% during the forecast period with a market size of USD 49.73 million in 2024.
• Rest of Europe Cocoa Beans market is projected to witness growth at a CAGR of 4.2% during the forecast period with a market size of USD 642.36 million in 2024.

Asia Pacific Cocoa Beans Market

According to Cognitive Market Research, the global Cocoa Beans market size was estimated at USD 13814.2Million out of which Asia Pacific is the fastest growing market ofaround 23% of the global revenue with a market size of USD 3177.27 million in 2024 and will grow at a compound annual growth rate (CAGR) of 9.0%from 2024 to 2031.The cocoa beans market is experiencing rapid growth driven by factors such as increasing disposable incomes, changing consumer preferences, and rising awareness of the health benefits of cocoa consumption. Regional analysis indicates a shift in consumption patterns, with countries like China, India, and Japan emerging as key players in the cocoa market. Segmentation analysis reveals a diverse range of applications for cocoa beans in the Asia-Pacific region, including confectionery, functional food and beverages, pharmaceuticals, cosmetics, and others. In conclusion, the Asia-Pacific cocoa beans market presents immense growth potential for industry stakeholders. As consumer awareness of cocoa's health benefits increases and preferences evolve towards premium and ethically sourced products, there is a growing need for innovation and sustainability initiatives within the industry.

• According to Cognitive Market Research, the China Cocoa Beans market size was valued at USD 1429.77million in 2024 and is projected to grow at a CAGR of 8.5%during the forecast period. Cocoa Beans sales surge in China due to the increasing disposable incomes.
• The Japan Cocoa Beans market is projected to witness growth at a CAGR of 7.5%during the forecast period with a market size of USD 438.46 million in 2024.
• The India Cocoa Beans market had a market share of USD 381.27million in 2024 and is projected to grow at a CAGR of 10.8%during the forecast period. The demand is growing demand for sustainable and high-quality cocoa products.
• The South Korea Cocoa Beans market is projected to witness growth at a CAGR of 8.1%during the forecast period with a market size of USD 317.73 million in 2024.
• The Australia Cocoa Beans market is projected to witness growth at a CAGR of 8.7%during the forecast period with a market size of USD 165.22 million in 2024.
• The South East Asia Cocoa Beans market is projected to witness growth at a CAGR of 10.0%during the forecast period with a market size of USD 219.23 million in 2024.
• The Rest of Asia Pacific Cocoa Beans market is projected to witness growth at a CAGR of 8.8%during the forecast period with a market size of USD 225.59million in 2024.

South America Cocoa Beans Market

According to Cognitive Market Research, the global Cocoa Beans market size was estimated at USD 13814.2Million out of which Latin America market of more than 5% of the global revenue with a market size of USD 690.71 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.4% from 2024 to 2031.Segmentation analysis reveals a diverse range of applications for cocoa beans in Latin America, including confectionery, functional food and beverages, pharmaceuticals, cosmetics, and others. In conclusion, the Latin America cocoa beans market presents both opportunities and challenges for industry stakeholders. While the region boasts abundant cocoa resources and a rich cultural heritage in chocolate production, there are also issues such as aging cocoa trees, low productivity, and socioeconomic challenges faced by cocoa farmers.

• According to Cognitive Market Research, the Brazil Cocoa Beans market size was valued at USD 295.62 million in 2024 and is projected to grow at a CAGR of 7.0% during the forecast period. Cocoa Beans sales flourish in Brazil due to the region boasts abundant cocoa resources and a rich cultural heritage in chocolate production.
• The Argentina Cocoa Beans market had a market share of USD 116.04million in 2024 and is projected to grow at a CAGR of 7.3% during the forecast period. The demand is augmented by Argentina's commitment to sustainable farming practices, where Cocoa Beans play a crucial role in enhancing crop yields.
• The Colombia Cocoa Beans market is projected to witness growth at a CAGR of 6.2% during the forecast period with a market size of USD 61.47million in 2024.
• The Peru Cocoa Beans market is projected to witness growth at a CAGR of 6.6% during the forecast period with a market size of USD 56.64 million in 2024.
• The Chile Cocoa Beans market is projected to witness growth at a CAGR of 6.7% during the forecast period with a market size of USD 49.73 million in 2024.
• The Rest of Latin America Cocoa Beans market is projected to witness growth at a CAGR of 5.5% during the forecast period with a market size of USD 111.20 million in 2024.

Middle East and Africa Cocoa Beans Market

According to Cognitive Market Research, the global Cocoa Beans market size was estimated at USD 13814.2Million out of which Middle East and Africa market ofaround 2% of the global revenue with a market size of USD 276.28 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.7%from 2024 to 2031.The cocoa beans market presents a unique landscape shaped by both historical and contemporary factors. Regional analysis reveals that while cocoa production in the MEA region is limited compared to other parts of the world, countries like Ivory Coast, Ghana, and Nigeria are key players in global cocoa supply. Segmentation analysis indicates a diverse range of applications for cocoa beans in the MEA region, including confectionery, functional food and beverages, pharmaceuticals, cosmetics, and others. In conclusion, the MEA cocoa beans market offers both opportunities and challenges for industry stakeholders. While the region's cocoa production capabilities are substantial, there are also issues such as fluctuating weather patterns, political instability, and socioeconomic challenges that can impact cocoa farming and trade.

• According to Cognitive Market Research, the GCC Countries Cocoa Beans market size was valued at USD 118.25million in 2024 and is projected to grow at a CAGR of 7.5% during the forecast period. Cocoa Beans sales flourish in the GCC Countries due to the increasing awareness of the health benefits.
• The Egypt Cocoa Beans market is projected to witness growth at a CAGR of 7.0% during the forecast period with a market size of USD 29.01million in 2024.
• The South Africa Cocoa Beans market is projected to witness growth at a CAGR of 7.7% during the forecast period with a market size of USD 43.65 million in 2024.Cocoa Beans sales flourish in the South Africa due to the consumer awareness of cocoa's health benefits increases and preferences evolve towards premium and ethically sourced products.
• The Turkey Cocoa Beans market is projected to witness growth at a CAGR of 6.2% during the forecast period with a market size of USD 23.76 million in 2024.
• The Nigeria Cocoa Beans market is projected to witness growth at a CAGR of 5.8% during the forecast period with a market size of USD 29.01million in 2024.
• The Rest of MEA Cocoa Beans market is projected to witness growth at a CAGR of 5.7% during the forecast period with a market size of USD 32.60 million in 2024.

Cocoa Beans Market Analysis

Cocoa Bean Type Segment Analysis

According to Cognitive Market Research, Forastero cocoa beans dominate as the most prevalent type. Forastero beans account for the majority of global cocoa production due to their high yield, disease resistance, and suitability for mass production. These beans are known for their robust flavour profile, making them ideal for use in a wide range of chocolate products, including bulk chocolates and cocoa powder. Additionally, Forastero beans are cultivated in various regions, particularly West Africa, which is the largest cocoa-producing area globally, further contributing to their dominance in the market.

Trinitario cocoa beans represent the fastest-growing category in the cocoa beans market. Trinitario beans are a hybrid variety resulting from the crossbreeding of Criollo and Forastero beans. They are highly prized for their unique flavour profiles, which combine the desirable characteristics of both parent varieties. Trinitario beans are increasingly sought after by chocolate manufacturers and connoisseurs for their aromatic notes and complex flavours, leading to a growing demand for these premium beans in the market. Additionally, efforts to diversify cocoa production and meet consumer demand for high-quality chocolate products further drive the growth of Trinitario cocoa beans in the market.

• Criollo Cocoa Beans
• ForasteroCocoa Beans
• Trinitario Cocoa Beans

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 Beans Industry. Request a Free Sample PDF!

Cocoa Beans Market Application Segment Analysis

According to Cognitive Market Research, the dominating category is confectionery applications. Confectionery remains the largest consumer of cocoa beans globally, accounting for a significant portion of cocoa bean utilization. This dominance can be attributed to the enduring popularity of chocolate products among consumers worldwide. From traditional chocolate bars to gourmet truffles and artisanal creations, the confectionery industry relies heavily on cocoa beans for their rich flavor and versatility in chocolate production.

The fastest-growing category in the cocoa beans market is functional food and beverage applications. With the increasing consumer focus on health and wellness, there has been a surge in demand for functional food and beverage products fortified with cocoa compounds such as flavonoids and antioxidants. These bioactive compounds are associated with various health benefits, including improved cardiovascular health, cognitive function, and mood enhancement. As a result, manufacturers are incorporating cocoa beans and cocoa-derived ingredients into a wide range of functional food and beverage products, driving the growth of this segment in the cocoa beans market.

• Confectionery
• Functional Food & Beverage
• Pharmaceuticals
• Cosmetics
• Others

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Cocoa Beans Product Type Segment Analysis

According to Cognitive Market Research, cocoa powder stands out as the dominating category. Cocoa powder is widely utilized in various food and beverage applications, including baking, confectionery, and beverage manufacturing. Its versatility and ability to impart rich chocolate flavor make it a staple ingredient in many recipes. Additionally, cocoa powder is often used as a key ingredient in chocolate-flavoured products, such as cakes, cookies, and hot chocolate mixes, further driving its dominance in the market.

Cocoa beverages represent the fastest-growing category in the cocoa beans market. With the rising demand for indulgent yet health-conscious beverage options, cocoa beverages have gained popularity among consumers seeking flavorful and nutritious alternatives. Cocoa beverages encompass a wide range of products, including hot cocoa drinks, chocolate milk, and ready-to-drink chocolate beverages. Manufacturers are innovating with new flavours, formulations, and packaging formats to cater to evolving consumer preferences, driving the rapid growth of cocoa beverages in the market. Moreover, the growing trend towards premium and functional beverages further accelerates the expansion of this segment.

• Cocoa Powder
• Cocoa Butter
• Cocoa Beverages
• Others

Cocoa Beans Distribution Channel Segment Analysis

According to Cognitive Market Research, the dominating category is offline distribution channels. Offline channels, such as supermarkets, specialty stores, and wholesale markets, have historically been the primary means of distributing cocoa beans to consumers and businesses. These channels offer direct access to physical stores where customers can browse and purchase cocoa beans, providing convenience and immediate availability. Additionally, offline channels allow for personal interactions between customers and sales representatives, facilitating product demonstrations, recommendations, and brand engagement, which can enhance customer loyalty and satisfaction.

The fastest-growing category in the cocoa beans market is online distribution channels. With the increasing prevalence of e-commerce and digitalization, online platforms have emerged as a popular and convenient way for consumers to purchase cocoa beans. Online channels offer a wide selection of products, competitive pricing, and the convenience of shopping from anywhere at any time. Moreover, online platforms provide access to a global marketplace, enabling cocoa bean suppliers to reach a broader audience and expand their customer base beyond traditional geographic boundaries. As consumers increasingly embrace online shopping due to its convenience and accessibility, the online distribution of cocoa beans is expected to continue growing rapidly in the coming years.

• Online
• Offline

Author's Detail

Sneha Mali

Research Analyst at Cognitive Market Research

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I am a research analyst working in various domains including the Consumer Goods domain, and my primary responsibility is to conduct thorough research on various subjects and provide valuable insights to support client requirements. I have knowledge of research methodologies, and data mining which enables me to analyze large data sets, draw meaningful conclusions, and communicate them effectively. I stay up-to-date with the latest research trends, methodologies, and technologies to ensure that my research is accurate, relevant, and impactful.

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