Cocoa Market : Global Opportunity Analysis and Industry Forecast 2021-2027

The global cocoa market size was valued at US$ 12874.0 million in 2019 and is projected to reach US$ 15501.1 million by 2027 registering a CAGR of 4.3% from 2021 to 2027. Key drivers of the cocoa market include the growing application of cocoa in a wide variety of industries such as cosmetics, healthcare, pharmaceuticals, food and beverages etc. Other factors contributing to the growth of the cocoa market are increasing chocolate consumption including dark chocolate and usage of different variants of cocoa.

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Further growing cases of lifestyle diseases such as high blood pressure, diabetes, cancer, and heart disease have contributed to a shift towards natural food products and cocoa is rich in antioxidants which can help alleviate these health conditions. Hence rising preference for low fat cocoa powder and cocoa from organic sources is fueling the market growth.

Trends Influencing the growth of the Cocoa Market
Increasing chocolate consumption
Chocolate is the main driver for the growth of the cocoa market. As cocoa is a key ingredient for making chocolates the rising chocolate consumption is driving the growth of the market. Due to growing disposable incomes, the demand for chocolates, bakery and icecreams are rising exponentially over the last few years. Cocoa butter, cocoa powder, and cocoa liquor are being extensively used to meet the rising consumption levels in the food and beverages industry. Moreover, with consumers experimenting with newer variants of chocolates especially dark chocolate the demand for the cocoa market is expected to grow further during the forecast period and will continue to boom in the coming years.

Health Benefits of cocoa will create lucrative opportunities for growth
The rising incidences of lifestyle diseases such as high blood pressure, diabetes and heart diseases are prompting consumers to shift to healthy alternatives and become proactive in their choices for food products. As the demand for organic and gluten-free products rises manufacturers are shifting their focus on targeting health-conscious consumers by producing innovative and healthy variants of cocoa with low fat and lesser sugar content. Thus growing lifestyle diseases, an increase in consumer base for avoiding harmful chemicals, and rising product innovations by manufacturers will propel the growth of the market during the forecast period.

Widespread usage of cocoa in a variety of industries

Cocoa as an ingredient finds application in a variety of industries driving the growth of the market. It is used as a key mixture for making chocolates, icecreams, bakeries in the food and beverages industry, in the cosmetics and pharmaceuticals industry as a coloring agent, and also used in making toiletries for the aroma and flavor. Hence the widespread application of cocoa will increase further leading to a huge growth of the cocoa market during the forecast period.

Cocoa Market Segmentation
Cocoa Market By Product Type
Cocoa butter
Cocoa liquor
Cocoa powder

Cocoa Market By Process
Dutch process
Natural process

Cocoa Market By Nature
Organic
Conventional

Cocoa Market By Quality
Bulk
Specialty
Fine flavor

Cocoa Market By Application
Confectionery
Food & beverages
Bakery
Others

Cocoa Market By Region
North America
U.S.
Canada
Mexico
Europe
The Netherlands
Germany
Belgium
France
UK
Italy
Spain
Switzerland
Rest of Europe
Asia-Pacific
China
Japan
India
Malaysia
Indonesia
Singapore
Rest of Asia-Pacific
LAMEA
Brazil
Iran
UAE
Rest of LAMEA

SIMILAR REPORT

https://reports.valuates.com/market-reports/ALLI-Auto-3Y396/cocoa-products

https://reports.valuates.com/market-reports/QYRE-Auto-16Z8889/global-organic-cocoa

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This release was published on openPR.