Cocoa Products Market is Anticipated to Reach at a Value of USD 39640.68 mn, at a CAGR of 5.8% | Demand, Size, Share and Trends by 2029

The Cocoa Products Market was worth USD 25,249.67 million in 2021 and is anticipated to reach USD 39640.68 million by 2029, growing at a CAGR of 5.8% from 2022 to 2029.

Cocoa beans are used to make cocoa. It is a highly concentrated powder that is used to flavour beverages. It is the main ingredient in baked goods and chocolate confections. Cocoa powders, chocolate liquor, and blends are the commercial forms of cocoa that are used to flavour a wide range of food products, including syrups, toppings, chocolate milk, prepared cake mixes, medications, and cookies.

To make cocoa, the seeds of the cacao tree are processed. Although it was initially planted in Latin America, cocoa is now grown almost everywhere in the tropics, from Asia to Africa.

Some of the major players operating in the cocoa products market are:

Cemoi Chocolatier (France)
Republica del Cacao (Ecuador)
Nestlé S.A. (Switzerland)
Mars Incorporated (U.S.)
Fuji Oil Holdings Inc. (Japan)
Guittard Chocolate Company (U.S.)
Ghirardelli Chocolate Company (U.S.)
Valrhona (France)

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Cocoa Products Market Dynamics

Drivers

Growing awareness about benefits of cocoa products

The growing awareness of the health benefits of consuming cocoa-rich products drives the growth of the cocoa products market. Cocoa helps reduce hypertension, chronic fatigue syndrome, protection against sunburn, and other health benefits to the human body. Cocoa is also high in polyphenols, which help to protect the body's tissues from oxidative stress and related pathologies like cancer and inflammation. These factors are also driving the expansion of the cocoa products market.

Post COVID-19 Impact on Cocoa Products Market

Low sales volumes due to the COVID-19 pandemic and supply-side issues related to quality and certification impacted the cocoa market. In terms of exports, the Fine Cacao and Chocolate Institute (FCCI) surveyed the impact of the COVID-19 pandemic, which yielded some troubling results. According to reports in the Dominican Republic, the drastic lockdown imposed prevented producers and agricultural workers from going to the plantations for several weeks until the authorities granted exceptions.

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Global Cocoa Products Market Scope

Type of Cocoa

Forastero cocoa
Trinitario cocoa
Criollo cocoa

Product type

Cocoa beans
Cocoa butter
Cocoa powder & cake
Cocoa liquor & paste
Cocoa nibs
Others

Application

Inorganic
Organic

Application

Food & beverages
Personal care & cosmetics
Dietary supplements
Others

Distribution channel

Direct
Indirect

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Cocoa Products Market Regional Analysis/Insights

The European region has the largest market share in the global cocoa products market, followed by North America, Asia-Pacific, the Middle East and Africa, and South America. In Europe, Germany has the largest market share due to the widespread use of cocoa products in industrial applications. For example, Mondelez International, Nestle, and Lindt & Sprüngli, three of the world's largest confectionery companies, use cocoa products to make roasted chocolate.

Competitive Landscape and Cocoa Products Market Share Analysis

The cocoa products market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to cocoa products market.

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