Cocoa Market Set to Reach $15.5 Billion by 2027, Reveals Allied Market Research Report

According to a new report published by Allied Market Research, titled "Cocoa Market by Product Type, Process, Nature, Quality, and Application: Global Opportunity Analysis and Industry Forecast, 2021-2027," the global cocoa market size is expected to reach $15.5 billion by 2027 at a CAGR of 4.3% from 2021 to 2027.

𝐀𝐯𝐚𝐢𝐥𝐚𝐛𝐥𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 @ https://www.alliedmarketresearch.com/request-sample/11372

Cocoa is extracted from Theobroma tree or cacao tree. The cocoa or cocoa beans are dried and fermented to produce cocoa liquor and by processing the cocoa liquor, cocoa butter and cocoa powder is extracted. The growing demand for chocolate is the key factor propelling the global cocoa market. Cocoa liquor is the major ingredient used to manufacture chocolate. Cocoa is widely used as flavoring, coloring, filling, and as topping in food & beverage, confectionery, and bakery industries. The growing application of cocoa in these industries is fueling the growth of the global cocoa market.

Sustainability in the production of cocoa is one of the key factors consumers look for when buying cocoa products, especially European consumers. Storytelling is the new trend that cocoa and chocolate producers are using as a marketing tool. Consumers are very interested in knowing the story behind the products they purchase. Hence, storytelling has become a new strategy that cocoa and chocolate marketers are using lately in the global cocoa market.

There are a few factors that may hinder the growth of the global cocoa market. The most important restraint is the availability of cocoa substitutes such as carob powder, illipe, shea, sal, palm oil, and mango kernels. These substitutes are easy to manufacture and are available at a lower cost. Further, the cocoa market is subject to price fluctuations. According to the International Cocoa Organization, the production cap by West African countries and unfavorable weather conditions created a gap between the demand and supply of cocoa. This will lead to rising prices for cocoa, and as a result, chocolate producers may opt for cocoa substitutes. This is the constraining factor for the global cocoa market.

𝐆𝐞𝐭 𝐘𝐨𝐮𝐫 𝐑𝐞𝐩𝐨𝐫𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 @ https://www.alliedmarketresearch.com/request-for-customization/11372

According to the cocoa market analysis, the market is segmented into product type, process, nature, quality, application, and region. On the basis of product type, the global cocoa market is categorized into cocoa butter, cocoa liquor, and cocoa powder. By process, it is segregated into Dutch process and natural process. On the basis of nature, it is segmented into organic and conventional. Based on the quality, it is segmented into bulk, specialty, and fine flavors. Based on application, it is segmented into confectionery, food & beverages, bakery, pharma, animal feed, and others. Region-wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (the Netherlands, Germany, Belgium, France, the UK, Italy, Spain, Switzerland, and rest of Europe), Asia-Pacific (China, Japan, India, Malaysia, Indonesia, Singapore, and rest of Asia-Pacific), and LAMEA (Brazil, Iran, United Arab Emirates, and rest of LAMEA).

According to the cocoa market forecast, on the basis of product type, the cocoa liquor segment was the highest contributor to the market, with $4,837.1 million in 2019, and is expected to sustain its significance during the forecast period. Cocoa liquor, also known as chocolate liquor, is an essential item required to produce raw chocolate. Cocoa butter and cocoa powder are also produced from cocoa liquor.

Therefore, rise in demand for chocolates and growth in use of cocoa liquor in confectionery, food & beverage, bakery, cosmetics, and pharmaceutical sector will boost the demand for cocoa liquor.

𝐌𝐚𝐤𝐞 𝐚 𝐃𝐢𝐫𝐞𝐜𝐭 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 @ https://www.alliedmarketresearch.com/checkout-final/7328d871e9e4b288173547194866268b

On the basis of quality, the bulk is the dominant segment because it is the most commonly produced and traded cocoa. The availability of bulk cocoa at cheap prices is the main reason for its high demand. Around 90% of the global cocoa produced is bulk cocoa.

Based on application, confectionery is the leading segment in the global cocoa market because a major part of the global cocoa is used by the confectionery industry for making chocolates and chocolate products.

Region-wise, Europe is the leading market for cocoa. Europe is the largest cocoa and chocolate-consuming region. In 2019, the Netherlands accounted for the highest imports of cocoa in terms of volume and value. Switzerland is the top chocolate-consuming country in Europe. The various nations, such as Germany, France, and the UK, are among the top chocolate and cocoa-consuming nations.

The players operating in the global cocoa market have adopted various developmental strategies to expand their market share, exploit the cocoa market opportunity, and increase profitability in the market. The key players profiled in this report include Cargill, Inc., Olam International Ltd., Toutan S.A., Barry Callebaut AG, The Hershey Company, Guan Chong Cocoa Manufacturer SDN. BHD, Ciranda, Inc., United Cocoa Processor, Inc., Bloomer Chocolate Company, and VJ Jindal Cocoa Private Limited.

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 @ https://www.alliedmarketresearch.com/purchase-enquiry/11372

𝐊𝐞𝐲 𝐟𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐬𝐭𝐮𝐝𝐲

📍 The cocoa market was valued at $12,874.0 million in 2019 and is estimated to reach $15,501.1 million by 2027, growing at a CAGR of 4.3% during the forecast period.

📍 By product type, the cocoa liquor segment is estimated to witness the fastest growth, registering a CAGR of 4.4% during the forecast period.

📍 In 2019, depending on the process, the Dutch process segment was valued at $9,675.2 million, accounting for 75.1% of the global cocoa market share.

📍 In 2019, the Netherlands was the most prominent market in Europe and is projected to reach $1,636.5 million by 2027, growing at a CAGR of 4.5% during the forecast period.

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view of providing business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We have professional corporate relations with various companies and this helps us dig out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every piece of data presented in the reports published by us is extracted through primary interviews with top officials from leading companies in domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view of providing business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domain.

We have professional corporate relations with various companies and this helps us dig out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high-quality of data and help clients in every way possible to achieve success. Each and every piece of data presented in the reports published by us is extracted through primary interviews with top officials from leading companies in domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

This release was published on openPR.