Global Cocoa Processing
Market Report
2024
The Global Cocoa Processing market was USD 15.1 billion in 2022 and will grow at a compound annual growth rate (CAGR) of 1.50% from 2023 to 2030.
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 global cocoa processing market was USD 15.1 billion in 2022 and will grow at a compound annual growth rate (CAGR) of 1.50% from 2023 to 2030.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Cocoa Processing Market Sales Revenue 2022 | $ 15.1 Billion |
Global Cocoa Processing Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 1.5% |
Market Split by Bean Type |
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Market Split by Application |
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Market Split by Product Type |
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Market Split by Chocolate |
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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 Processing industry. We can deliver an exclusive report Edition/Consultation as per your data requirements. Request for your Free Sample Pages.
Cocoa Processing Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
Cocoa processing is the method of transforming cocoa beans into a variety of products, including cocoa butter, cocoa powder, and chocolate. It involves several steps: sorting, roasting, winnowing, grinding, refining, and conching. The rising cocoa consumption leads to increased product adoption across the food and beverage industry. Additionally, cocoa powder is also widely used in preparing numerous food items, such as hot chocolate drinks, cakes, and other baked goods, which is acting as a growth-inducing factor.
These developments empower businesses to offer better-tailored solutions and services, which, in turn, contribute to the growth of the cocoa processing industry.
For instance, Cargill has made a deal to purchase Aalst Chocolate Pte. Ltd., a top-notch chocolate manufacturer based in Singapore. Once it receives regulatory approval and meets closing requirements, this acquisition will greatly enhance Cargill's presence in the Asia-Pacific region. It will also enable Cargill to offer chocolate in addition to its current range of cocoa products, which are already being sold throughout the area.
(Source:www.cargill.com/2021/cargill-to-acquire-aalst-leading-asian-chocolate-supplier)
Chocolate consumption has been on the rise due to its strong source of antioxidants and ability to lower cholesterol levels, reducing the risk of cardiovascular problems. Moreover, the ingestion of chocolate aids in preventing cognitive decline by improving blood flow and reducing blood pressure, ultimately enhancing brain function.
Cargill, Continental Grain Company, and Sanderson Farms, Inc. have announced their definitive agreement for a joint effort between Cargill and Continental Grain to acquire Sanderson Farms.
This surge in chocolate consumption has also resulted in a higher need for different types of chocolate products, including dark chocolate, milk chocolate, and white chocolate. Consequently, manufacturers are investing in expanding their production capacity and refining their processing techniques to meet the increasing market demands. Furthermore, installing more chocolate processing equipment will not only meet the rising demand but also contribute to the economic growth of the global chocolate industry.
Improving standard of living and increasing disposable income to drive market growth
The availability of substitutes presents a significant challenge and restraint for the industry. Cocoa is a primary ingredient in various food and beverage products, including chocolates, confectioneries, and beverages. However, the rising demand for healthier alternatives and changing consumer preferences have led to the developing and promotion of substitutes for cocoa-based products. Carob, for example, is often used as a cocoa substitute due to its similar appearance and flavor profile. Additionally, manufacturers are exploring other ingredients, such as cacao alternatives and synthetic flavors, to replicate the taste of cocoa. These substitutes cater to health-conscious consumers, those with dietary restrictions, and individuals looking to reduce their sugar and fat intake. Therefore, the availability of cocoa substitutes creates competition for the traditional cocoa industry, forcing companies to innovate and adapt their products to meet changing consumer preferences and manage their businesses.
The cocoa processing market has been adversely affected by the COVID-19 pandemic. Since the onset of the global health crisis, there has been a decrease in demand for cocoa products, resulting in a reduced need for cocoa beans, the primary ingredient in these products. Due to this decline in cocoa demand, coffee prices have dropped, leading to decreased margins for cocoa processing. Furthermore, the pandemic has forced the closure or reduction of operations for numerous cocoa processing facilities, as governments worldwide have implemented lockdowns and social distancing measures. As a result, there has been a shortage in cocoa processing capacity, making it challenging for manufacturers to meet the demand for cocoa products.
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The competitive climate in the cocoa processing sector is quite vibrant and diverse. It comprises various cocoa processing companies, from large global enterprises to smaller specialized businesses. Due to globalization and technological advancement, there is intense rivalry among firms to offer cutting-edge solutions, qualified translation, interpreting, and cocoa processing services.
May 2022: Mondel?z International, Inc. announced that it has completed the acquisition of Chipita Global S.A., a growing leader in croissants and baked snacks in Central and Eastern Europe.
August 2022: Nestlé Health Science announced the completion of its acquisition of The Bountiful Co.'s primary brands, which notably include Nature's Bounty. This strategic move further strengthens Nestlé's position as a dominant force within the nutritional supplements industry.
(Source:www.naturalproductsinsider.com/supplements/nestl-completes-bountiful-co-acquisition)
Top Companies Market Share in Cocoa Processing Industry: (In no particular order of Rank)
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.
According to Cognitive Market Research, North America dominates the Cocoa Processing Market, with the USA being the dominant country due to several key factors. The USA holds a significant position in the global cocoa processing industry as it is a major consumer of cocoa-based products, including chocolates, confectioneries, and beverages. The well-established food and beverage industry in the USA drives the demand for various cocoa-derived products, leading to a robust market for cocoa processing. Additionally, the USA has a strong and efficient supply chain network that facilitates the import of cocoa beans and the distribution processed cocoa products. The country's advanced technological infrastructure, research and development capabilities, and favorable trade policies further contribute to its dominance in the cocoa processing market. Moreover, the USA's diverse consumer preferences and innovative product offerings have fueled the demand for cocoa-based products in various forms, leading to sustained growth in the cocoa processing sector.
The Asia-Pacific region is experiencing rapid growth in the cocoa processing market due to demographic, economic, and cultural factors. As the region's population grows and urbanizes, there is an increasing demand for various food and beverage products, including chocolates and cocoa-based confectioneries. Rising disposable incomes, changing consumer lifestyles, and a growing middle-class population in countries like China, India, and Southeast Asian nations have contributed to the escalating demand for cocoa products. Additionally, the Westernization of diets and the adoption of global food trends have led to a surge in the consumption of cocoa-based products in the Asia-Pacific region. Furthermore, the expansion of international chocolate brands and the establishing of local chocolate manufacturers have bolstered the market's growth.
The current report Scope analyzes Cocoa Processing 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 Cocoa Processing 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 Processing Industry growth. Cocoa Processing market has been segmented with the help of its Bean Type, Application Product Type, and others. Cocoa Processing 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.
According to Cognitive Market Research, the forastero bean type segment dominates the market due to its widespread cultivation, higher yield, and disease resistance. Forastero beans are known for their robust flavor and durability, making them suitable for mass production and processing into various cocoa products. This bean type is commonly grown in West Africa, a major cocoa-producing region.
The criollo bean type is emerging as the fastest-growing segment due to its distinct flavor profile and increasing consumer demand for premium and artisanal chocolate products. Criollo beans are known for their delicate and fine flavor notes, often described as complex and aromatic. This unique taste makes them a favorite among chocolatiers and manufacturers aiming to create high-quality and specialty chocolates. As consumer preferences shift towards indulgent and unique chocolate experiences, the demand for premium chocolates made from Criollo beans has increased. Additionally, the growing interest in traceable and ethically sourced cocoa has led to increased cultivation and production of Criollo beans in various regions.
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 Processing Industry. Request a Free Sample PDF!
According to Cognitive Market Research, the confectionery segment is dominant and the fastest growing due to the widespread consumption of chocolate and other confectionery products. Chocolate, a primary product derived from cocoa processing, is a globally popular treat. The confectionery industry extensively utilizes cocoa products to create chocolates, candies, and sweets. The rich flavor and texture of cocoa enhance the appeal of confectionery products, making them favorites among consumers of all ages. Moreover, the increasing consumer demand for premium and gourmet chocolates, as well as innovative confectionery offerings, has further driven the growth of this segment.
The beverages segment is the fastest growing due to the increasing popularity of cocoa-based drinks and beverages. Cocoa is a key ingredient in various beverages, including hot chocolate, chocolate milk, and chocolate-flavored coffee. The rich and indulgent flavor of cocoa adds a comforting and satisfying element to these drinks, making them highly appealing to consumers. Additionally, the rising trend of health-conscious consumers seeking natural and functional ingredients has driven the growth of cocoa-based beverages.
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The cocoa powder segment is dominant and the fastest-growing due to its widespread usage in various food and beverage applications. Cocoa powder is versatile in many products, including chocolates, confectionery, bakery goods, beverages, and desserts. Its demand is driven by the popularity of these products among consumers worldwide. Additionally, the increasing awareness about the health benefits of cocoa, particularly its antioxidant properties, has led to the incorporation of cocoa powder in health-conscious and functional food products.
According to Cognitive Market Research, the cocoa butter segment is the fastest growing due to its expanding applications across various industries. Cocoa butter is a vital ingredient in producing chocolates, confectionery items, and bakery goods, contributing to its strong chocolate and sweets industry demand. Moreover, due to its moisturizing and nourishing properties, the cosmetic and personal care industry extensively utilizes cocoa butter in skincare products. The rising trend of using natural ingredients in cosmetics and skincare products has further boosted the demand for cocoa butter.
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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 Processing Market is witnessing significant growth in the near future.
In 2023, the Forastero segment accounted for noticeable share of global Cocoa Processing Market and is projected to experience significant growth in the near future.
The Confectionary segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies Cocoa Touton Processing Company Limited , Guan Chong Bhd 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:
Bean Type | Forastero, Criollo, Trinitario |
Application | Confectionary, Bakery, Beverages, Cosmetics, Pharmaceuticals, Others |
Product Type | Cocoa Butter, Cocoa Liquor, Cocoa Powder |
Chocolate | Dark Chocolate, Milk Chocolate, White Chocolate, Filled Chocolate |
List of Competitors | Cocoa Touton Processing Company Limited, Transmar Group, Guan Chong Bhd, Ecom Agroindustrial Corp Limited, Nestlé SA, Barry Callebaut Group, Blommer Chocolate Company, Mondelez International Inc, Cargill Incorporated, Olam International, Natra, Touton S.A., Kuruvilla & Sons, JB Cocoa, Ecuakao Group Ltd, ALTINMARKA, MONER COCOA S.A., Indcre S.A., Puratos, Others |
This chapter will help you gain GLOBAL Market Analysis of Cocoa Processing. Further deep in this chapter, you will be able to review Global Cocoa Processing 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
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
Only Available with Corporate User License
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.
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 Bean Type Analysis 2019 -2031, will provide market size split by Bean 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 Bean 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 Type Analysis 2019 -2031
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Chapter 13 Market Split by Chocolate Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Cocoa Processing market
Chapter 14 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 Forastero have a significant impact on Cocoa Processing market? |
What are the key factors affecting the Forastero and Criollo of Cocoa Processing Market? |
What is the CAGR/Growth Rate of Confectionary during the forecast period? |
By type, which segment accounted for largest share of the global Cocoa Processing Market? |
Which region is expected to dominate the global Cocoa Processing Market within the forecast period? |
Segmentation Level Customization |
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Global level Data 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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Service Level Customization |
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