The Global Cocoa Market Deemed to Acquire $16.70 Billion in Revenue by 2028

A recent study by Triton Market Research titled 'Global Cocoa Market' entails the Global Analysis and Forecasts by End-user (Confectionery, Food & Beverages, Bakery, Other End-users), Product (Cocoa Liquor, Cocoa Butter, Cocoa Powder), Type (Organic, Conventional), Quality (Specialty, Fine Flavor, Bulk), Process (Dutch-Process, Natural Process), and by Geography (Asia-Pacific, North America, Middle East and Africa, Latin America, Europe).

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Triton's report predicts the global cocoa market to surge at a CAGR of 4.11% through the years 2021-2028. It is further estimated to attain revenue at $16.70 billion by 2028.

Cocoa beans are sourced from tropical regions to produce various products, such as cocoa powder, liquor, and chocolates.

Over the years, the change in lifestyles, rising awareness relating to chocolates, and implications in health has encouraged luxury chocolate brands to update their offering in the market. Here, the rising focus of consumers on health and fitness has increased the consumption rate of dark chocolates, which have high cocoa content. Hence, the rise in awareness about the benefits of cocoa are supplementing the growth of the cocoa market. However, in contrast, low productivity and fluctuations in the price of cocoa are significant factors restricting the overall progression of the cocoa market.

The cocoa market is sectioned into end-user, product, type, quality, and process. The end-user section includes confectionery, food & beverages, bakery, and other end-users. Based on product, it is branched into cocoa liquor, cocoa butter, and cocoa powder. In terms of type, it is bifurcated into organic and conventional. The quality segment comprises specialty, fine flavor, and bulk. Lastly, in terms of process, it is divided into Dutch-process and natural process.

Globally, Europe dominates the cocoa market and is likely to continue its stronghold till 2028. Big industrial chocolate production companies, such as Mars, Ferrero, and Hershey's, represent the majority of the market in the region. Furthermore, the specialty chocolate segment is gaining significant traction in the region, influencing the demand for cocoa beans. Besides, chocolate is widely consumed across the region, with numerous consumers shifting towards chocolates with higher cocoa content. Thus, such developments are likely to fuel the growth of the cocoa market.

Olam International Limited, Natra SA, Lindt and Sprüngli AG, Mondelez International, Touton SA, Ferrero Group, Archer Daniels Midland, The Hershey Company, Nestle SA, Meiji Holdings Co Ltd, Puratos Group, Blommer Chocolate Company, Cargill Incorporated, Guan Chong Berhad, and Barry Callebaut AG are leading companies in the cocoa market.

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Question & Answer: Cocoa Market

Question 1: What elements are supplementing the growth of the cocoa market?
Answer: Over the years, the change in lifestyles, rising awareness relating to chocolates, and implications in health has encouraged luxury chocolate brands to update their offering in the market. Here, the rising focus of consumers on health and fitness has increased the consumption rate of dark chocolates, which have high cocoa content. Hence, the rise in awareness about the benefit of cocoa are supplementing the growth of the cocoa market.

Question 2: What factors are restricting the overall progression of the cocoa market?
Answer: The low productivity and fluctuations in the price of cocoa are significant factors restricting the overall progression of the cocoa market.

Question 3: Which region dominates the cocoa market?
Answer: Globally, Europe dominates the cocoa market and is likely to continue its stronghold till 2028. Big industrial chocolate production companies, such as Mars, Ferrero, and Hershey's, represent the majority of the market in the region. Furthermore, the specialty chocolate segment is gaining significant traction in the region, influencing the demand for cocoa beans. Besides, chocolate is widely consumed across the region, with numerous consumers shifting towards chocolates with higher cocoa content. Thus, such developments are likely to fuel the growth of the cocoa market.

Question 4: Which are the leading companies in the cocoa market?
Answer: Olam International Limited, Natra SA, Lindt and Sprüngli AG, Mondelez International, Touton SA, Ferrero Group, Archer Daniels Midland, The Hershey Company, Nestle SA, Meiji Holdings Co Ltd, Puratos Group, Blommer Chocolate Company, Cargill Incorporated, Guan Chong Berhad, and Barry Callebaut AG are leading companies in the cocoa market.

Related Report:
Global Fermented Food and Ingredients Market - https://www.tritonmarketresearch.com/reports/global-fermented-food-and-ingredients-market

The global fermented food and ingredients market is estimated to grow in its revenue during 2019-2027 at a CAGR of 4.26%.

Fermented food and beverages are produced by controlling microbial and enzymatic conversion's growth. The fermentation method helps process and preserve food items, enhancing their nutritional profiles.

Factors such as growing awareness about healthy living, increasing demand for food preservation, and changing dietary habits are driving the studied market's progress.

Additionally, the development of region-specific products can open several avenues for the fermented food and beverages market.

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