Cocoa Products Market Analysis with Key Players, Applications, Trends and Forecasts to 2026 | Guan Chong Berhad (GCB), Puratos Group, The Hershey Company

Cocoa Products Market garnered $24.5 billion in 2019 and is projected to reach $30.2 billion in 2026, growing at a CAGR of 3.1% from 2019 to 2026. The report provides a comprehensive analysis of the changing market dynamics, top investment pockets, key segments, value chain, and competitive scenario.

Multiple health benefits associated with cocoa such as reduced hypertension, protection against sunburn, and decreased chronic fatigue along with protection of tissues against oxidative stress and related pathologies including cancer and inflammation drive the growth of the global cocoa product market. On the other hand, variations in prices and limited availability of cocoa impede the growth of the market. Nevertheless, development of better commercial farming techniques utilized for manufacturing cocoa would create new opportunities in the industry.

In-depth analysis of the COVID-19 impact on the cocoa products Market@ https://www.alliedmarketresearch.com/request-sample/3424

Covid-19 Scenario-
• During the initial phase of the lockdown, the disrupted supply chain affected the market immensely.
• Lack of workforce and stringent regulations imposed by government bodies have further created challenges for the market players.
• Nevertheless, the governments in various regions are easing off the regulations, owing to economic benefits, thereby allowing the manufacturers to resume their procedures.

The report has been segmented based on product type, end user, application, and region. Based on product type, the cocoa beans segment held the major share in 2018, contributing nearly three-fifths of the total share, and is estimated to maintain its lead position throughout the forecast period. This segment is expected to grow at the fastest CAGR of 3.3% from 2019 to 2026. It is a lucrative segment, owing to surge in prominence of cocoa beverages along with increase in consumption of confectioneries and snacks. Moreover, evolving taste, changes in consumer demand, and increase in health consciousness would supplement the growth. The report also analyzes cocoa butter, cocoa powder & cake, cocoa paste & liquor, and chocolate.

Based on end user, the confectionery segment contributed the highest revenue in 2018, accounting for more than two-fifths of the total market share, and is projected to maintain its dominance by 2026. This is due to innovations in product offerings, formulations, processing, and packaging along with expansion of retail market and economic growth of emerging countries. However, the cosmetics segment would register the highest growth rate, with a CAGR of 4.7% from 2019 to 2026, owing to changing lifestyle preferences, rise in demand for skin care products, and inclination toward natural and organic beauty products.

Based on application, the confectionery segment held the highest revenue in 2018, accounting for more than two-fifths of the total market share, and is projected to maintain its dominance by 2026. However, the cosmetics segment would register the highest growth rate, with a CAGR of 4.7% from 2019 to 2026.The report also includes food & beverages and pharmaceutical segments.

Based on region, the market is analyzed across regions including Asia-Pacific, LAMEA, Europe, and North America. Europe accounted for the highest market share in 2018, contributing more than one-third of the total share, and will maintain its leadership status by 2026. On the other hand, Asia-Pacific is estimated to register the fastest CAGR of 3.9% from 2019 to 2026.

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Leading market players analyzed in the research are Guan Chong Berhad (GCB), Puratos Group, The Hershey Company, Touton S.A, Tradin Organic, Cargill, Ciranda, FUJI OIL CO., LTD., and United Cocoa Processor.

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