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Global Cocoa Solids Market to Reach About USD 5.07 Billion by 2027, Aided by the Growing Use of Cocoa in Several End-Use Sectors

According to a new report by EMR titled, ‘Global Cocoa Solids Market Report and Forecast 2022-2027’, the market attained a value of about USD 3.95 billion in 2021. The market is further expected to grow at a CAGR of 4.70% in the forecast period of 2022-2027 to reach a value of nearly USD 5.07 billion by 2027.

The market for cocoa solids is being propelled by the growing utilisation of cocoa in various end-use sectors, such as cosmetics, food and beverages, among others. With the increasing consumption of chocolate, the demand for cocoa solids is witnessing healthy growth. The rising inclination toward chocolate confectionery products and the surging sales of premium chocolates due to the emerging middle-class population are also augmenting the market for cocoa solids.

 

The increasing demand for cocoa solids in various cosmetics and personal care products such as creams, lotions, and lip balms, among others, is fuelling the market growth. As the trend of do-it-yourself skincare is surging, consumers are increasingly utilising cocoa solids in skincare products. Further, the surging research and development (R&D) activities to determine the efficacy of cocoa solids to reduce oxidative stress, while decreasing skin damage and reducing ageing signs, is expected to boost their demand in the cosmetics and personal care sector in the forecast period.

 

Some of the leading companies in the market for cocoa solids are Olam International Limited (SGX: VC2) and Cargill Incorporated. The latter completed the USD 100 million expansion of its cocoa processing facilities in Yopougon, Côte d’Ivoire, in November 2021. This would boost the cocoa grinding capabilities of the company while making the plant the largest cocoa-grinding plant in Africa.

 

With the investment, the company upgraded its safety improvements and infrastructural enhancements to boost its production capacity by 50% and supply dark brown cocoa powders, which are in high demand. As the company installed a new technology at its Yopougon plant, it is ideal for serving various cocoa powders in the Middle Eastern, African, and Eastern Europe markets. Such expansions are bolstering the market for cocoa solids.

 

Market Analysis by Nature, End-Use Industry, and Region:

  • The market, on the basis of nature, can be divided into organic and conventional.
  • Based on end-use industry, the market can be divided into food and beverages, cosmetics and personal care, and pharmaceutical.
  • The regional markets for cocoa solids include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Key Findings of the Report:

  • The increasing use of cocoa solids in chocolate pastes and chocolate confectioneries is augmenting the market growth.
  • The market is being fuelled by the growing utilisation of cocoa solids in the cosmetics sector owing to its favourable properties.
  • As the awareness regarding the health benefits of cocoa solids to reduce hypertension, chronic fatigue syndrome, and protect against sunburn is increasing, the market is witnessing a healthy growth.
  • The surging popularity of artisanal bakeries and the robust growth of the bakery and confectionery sector are bolstering the market for cocoa solids.

 

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for cocoa solids for the periods (2017-2021) and (2022-2027).
  • The report also offers the historical (2017-2021) and forecast (2022-2027) markets for the natures, end-use industries, and major regions of cocoa solids.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

 

The major players in the global cocoa solids market are Cargill Incorporated, United Cocoa Processor, Inc., Guan Chong Berhad (GCB), Keliffs Nutrients Pvt Ltd, and Olam International Limited, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

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