Cocoa Industry is Expected to Reach $ 18.02 Billion by 2031 - Barry Callebaut, PLOT Enterprise Ghana Limited, Cocoa Processing Co. Ltd., Cargill, Inc.

The Global Cocoa Market will be USD 12.5 billion by 2022 and will witness lucrative growth by reaching up to USD 18.02 billion by 2031. The market is growing at a CAGR of 4.7% during the forecast period 2024-2031.
Cocoa, essential for chocolate and confections, is central to the Global Cocoa Market, which examines market size, trends, and competitive dynamics. The market's growth is fueled by rising demand for chocolate, increased consumer awareness of cocoa's health benefits, and supportive government policies. Significant growth is noted in the Asia Pacific region. Major players include Barry Callebaut AG, Cargill, Incorporated, and Nestlé S.A.

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Key Developments:

• In May 2022, Bloomer Chocolate Company and DouxMatok partnered to introduce new chocolate and confectionery coatings.

• In March 2020, Mars, Incorporated, renowned for its confectionery brands, unveiled CO2COA, a sustainability-focused chocolate addition to its lineup, which includes M&M'S, SNICKERS, SKITTLES, and EXTRA Gum.

• In September 2021, Lindt & Sprüngli Group completed the integration of Caffarel S.p.A, enhancing synergies between the two entities while preserving their distinct local identities and robust business strategies.

Market Trends:

The high demand for confectionery products is significantly driving the growth of the cocoa market. The International Cocoa Organization (ICCO) reports that global demand for cocoa beans grew by an average of 2.5% annually from 2010 to 2020, largely due to the increasing popularity of chocolate confections. The chocolate confectionery market is expected to keep expanding in the coming years. For instance, premium chocolate sales in the United States surged by 12.5% in 2020, as noted by the National Confectioners Association, highlighting the growing impact of confectionery demand on the cocoa market.

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Segment Covered in the Cocoa Market:

By Type: Dutch-processed, Natural

By Form: Cocoa powder, Cocoa beans, Cocoa liquor, Cocoa butter, Others

By Application: Cosmetics, Food & Beverages, Pharmaceuticals, Confectionery, Others

Major Key Players:

• Barry Callebaut
• PLOT Enterprise Ghana Limited
• Cocoa Processing Co. Ltd.
• Cargill, Inc.
• BD Associates Ghana Ltd.
• ECOM Agroindustrial Corporation
• Touton S.A.
• Olam International
• Niche Cocoa Industry Ltd.
• Fuji Oil Company Ltd.

*Note:

Additionally, I wanted to highlight that the full version of the report includes an in-depth analysis of emerging players and startups, which will provide valuable insights into the evolving market landscape and key strategies being adopted.

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Cocoa Liquor Market: https://www.datamintelligence.com/research-report/cocoa-liquor-market

Cocoa Nibs Market: https://www.datamintelligence.com/research-report/cocoa-nibs-market

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