Cocoa Products Market Is Likely to Experience a Tremendous Growth by 2026

Cocoa products are derived from the cocoa seed of the cocoa tree. There are different types of products obtained from cocoa seeds such as cocoa powder, cocoa paste, cocoa butter, and cocoa liquor which are commonly available across the globe. Cocoa powder is mostly used to produce chocolate & chocolate confectionaries and cocoa paste is used to manufacture ice cream and sweet desserts. Cocoa butter has been widely used in the pharmaceuticals industry to reduce or prevent stretch marks. Furthermore, cocoa liquor is used in bakeries, drinks, desserts, ice creams, and coatings. Rise in use of cocoa products by confectionery industries driving the cocoa products market growth.

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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.

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.

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The report has been segmented based on product type, application, and region. Based on product type, the report further segments the market into cocoa beans, cocoa butter, cocoa powder & cake, cocoa paste & liquor and chocolate. The cocoa beans segment held the largest share in 2018, accounting for nearly three-fifths of the total share, and is estimated to maintain its lead position throughout the forecast period. In addition, this segment is also anticipated to manifest the fastest CAGR of 3.3% from 2019 to 2026.

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.

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

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 to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging 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 data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of 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.