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Canada Cocoa Market

Canada Cocoa Market Size, Share, Trends, Growth, Report: By Type: Cocoa Butter, Cocoa Powder, Cocoa Liquor; By Application: Food and Beverages, Cosmetics and Pharmaceuticals, Others; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand; Competitive Landscape; 2024-2032

Canada Cocoa Market Outlook

The Canada cocoa market size was valued at USD 458.32 million in 2023. The market is further projected to grow at a CAGR of 5.6% between 2024 and 2032, reaching a value of USD 753.40 million by 2032.

 

Key Takeaways

  • In 2019, Canadian households spent an average of USD 88 on chocolate bars. Newfoundland and Labrador led the way, spending USD 122 per household on chocolate bars, which positively impacted Canada cocoa market share.
  • As per industry reports, households spent an extra USD 11 on baking chocolate, cocoa, and chocolate substitutes.
  • In December 2021, 135 businesses nationwide were in the chocolate and chocolate confectionery manufacturing industry.
  • In 2021, there was a total availability of 1.41 kilograms of cocoa (green bean equivalent) per Canadian.

 

One of the key drivers of the cocoa market in Canada is the increasing demand for cocoa-based products. Cocoa is used in a wide range of products, including chocolate, cocoa powder, cocoa butter, and cocoa liquor, which are used in various applications in the food and beverage industry. In April 2022, the industry manufactured and shipped nearly USD 200 million worth of premium chocolate products to distributors, bakeries, and retailers.

 

The growing popularity of dark chocolate among health-conscious consumers due to its antioxidants and mineral rich nutrient profile is also propelling the Canada cocoa market growth. The demand for dark chocolate with at least 70% cacao is expected to grow significantly in the coming years, creating a huge market opportunity for cocoa producers. Moreover, the demand for dark chocolate bars with added functional ingredients, such as probiotics, is growing in Canada, driving the growth of the cocoa market.

 

The market is also being shaped by several trends, including the increasing demand for sustainable cocoa products, the growing popularity of single-origin cocoa, and the increasing demand for fair trade cocoa. Companies such as Camino, Divine Chocolate, and Green & Black's, which offer organic and fair-trade cocoa products, have gained popularity in Canada.

 

Meanwhile, single-origin cocoa is gaining popularity among consumers due to its unique flavour profile and sustainable production methods. For example, chocolate bars made with single-origin cocoa from countries such as Ecuador, Madagascar, and Venezuela are influencing Canada cocoa market development.

 

Canada Cocoa Market

 

Market Segmentation

Canada Cocoa Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

 

Market Breakup by Type

  • Cocoa Butter
  • Cocoa Powder
  • Cocoa Liquor

 

Market Breakup by Application

  • Food and Beverages
    • Confectionery 
    • Dairy 
    • Bakery 
    • Others
  • Cosmetics and Pharmaceuticals
  • Others

 

Market Breakup by Region

  • Northern Canada
  • British Columbia
  • Alberta
  • The Prairies 
  • Central Canada 
  • Atlantic Canada

 

Competitive Landscape

Market players are engaged in fair trade practises to ensure the delivery of fine quality cocoa to food & beverage industries to stay ahead in the competition.

 

  • Barry Callebaut AG 
  • Cargill, Incorporated 
  • Blommer Chocolate Company 
  • Canada Cacao Company Inc. 
  • Others

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Type
  • Application
  • Region
Breakup by Type
  • Cocoa Butter
  • Cocoa Powder
  • Cocoa Liquor
Breakup by Application
  • Food and Beverages
  • Cosmetics and Pharmaceuticals
  • Others
Breakup by Region
  • Northern Canada
  • British Columbia
  • Alberta
  • The Prairies 
  • Central Canada 
  • Atlantic Canada
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Barry Callebaut AG 
  • Cargill, Incorporated 
  • Blommer Chocolate Company 
  • Canada Cacao Company Inc. 
  • Others

 

*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.

1    Preface  
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers    
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Market Snapshot
7    Opportunities and Challenges in the Market
8    North America Cocoa Market Overview

    8.1    Key Industry Highlights
    8.2    North America Cocoa Historical Market (2018-2023) 
    8.3    North America Cocoa Market Forecast (2024-2032)
9    Canada Cocoa Market Overview
    9.1    Key Industry Highlights
    9.2    Canada Cocoa Historical Market (2018-2023) 
    9.3    Canada Cocoa Market Forecast (2024-2032)
10    Canada Cocoa Market by Type
    10.1    Cocoa Butter
        10.1.1    Historical Trend (2018-2023)
        10.1.2    Forecast Trend (2024-2032)
    10.2    Cocoa Powder
        10.2.1    Historical Trend (2018-2023)
        10.2.2    Forecast Trend (2024-2032)
    10.3    Cocoa Liquor
        10.3.1    Historical Trend (2018-2023)
        10.3.2    Forecast Trend (2024-2032)
11    Canada Cocoa Market by Application
    11.1    Food and Beverages
        11.1.1    Historical Trend (2018-2023)
        11.1.2    Forecast Trend (2024-2032) 
        11.1.3    Breakup By Type
            11.1.3.1    Confectionery 
            11.1.3.2    Dairy 
            11.1.3.3    Bakery 
            11.1.3.4    Others
    11.2    Cosmetics and Pharmaceuticals
        11.2.1    Historical Trend (2018-2023)
        11.2.2    Forecast Trend (2024-2032)
    11.3    Others
12    Canada Cocoa Market by Region
    12.1    Northern Canada
        12.1.1    Historical Trend (2018-2023)
        12.1.2    Forecast Trend (2024-2032)
    12.2    British Columbia
        12.2.1    Historical Trend (2018-2023)
        12.2.2    Forecast Trend (2024-2032)
    12.3    Alberta
        12.3.1    Historical Trend (2018-2023)
        12.3.2    Forecast Trend (2024-2032)
    12.4    The Prairies 
        12.4.1    Historical Trend (2018-2023)
        12.4.2    Forecast Trend (2024-2032)
    12.5    Central Canada 
        12.5.1    Historical Trend (2018-2023)
        12.5.2    Forecast Trend (2024-2032)
    12.6    Atlantic Canada
        12.6.1    Historical Trend (2018-2023)
        12.6.2    Forecast Trend (2024-2032)
13    Market Dynamics
    13.1    SWOT Analysis
        13.1.1    Strengths
        13.1.2    Weaknesses
        13.1.3    Opportunities
        13.1.4    Threats
    13.2    Porter’s Five Forces Analysis
        13.2.1    Supplier’s Power
        13.2.2    Buyer’s Power
        13.2.3    Threat of New Entrants
        13.2.4    Degree of Rivalry
        13.2.5    Threat of Substitutes
    13.3    Key Indicators for Demand
    13.4    Key Indicators for Price
14    Value Chain Analysis
15    Trade Data Analysis (HS Code – 1803, 1804, 1805)

    15.1    Major Importing Countries
        15.1.1    By Volume
        15.1.2    By Value
    15.2    Major Exporting Countries
        15.2.1    By Volume
        15.2.2    By Value
16    Price Analysis
17    Competitive Landscape

    17.1    Market Structure
    17.2    Company Profiles
        17.2.1    Barry Callebaut AG 
            17.2.1.1    Company Overview
            17.2.1.2    Product Portfolio
            17.2.1.3    Demographic Reach and Achievements
            17.2.1.4    Certifications
        17.2.2    Cargill, Incorporated 
            17.2.2.1    Company Overview
            17.2.2.2    Product Portfolio
            17.2.2.3    Demographic Reach and Achievements
            17.2.2.4    Certifications
        17.2.3    Blommer Chocolate Company 
            17.2.3.1    Company Overview
            17.2.3.2    Product Portfolio
            17.2.3.3    Demographic Reach and Achievements
            17.2.3.4    Certifications
        17.2.4    Canada Cacao Company Inc. 
            17.2.4.1    Company Overview
            17.2.4.2    Product Portfolio
            17.2.4.3    Demographic Reach and Achievements
            17.2.4.4    Certifications
        17.2.5    Others
18    Key Trends and Developments in the Market

 

List of Key Figures and Tables

1.    North America Cocoa Market: Key Industry Highlights, 2018 and 2032
2.    Canada Cocoa Market: Key Industry Highlights, 2018 and 2032
3.    Canada Cocoa Historical Market: Breakup by Type (USD Million), 2018-2023
4.    Canada Cocoa Market Forecast: Breakup by Type (USD Million), 2024-2032
5.    Canada Cocoa Historical Market: Breakup by Application (USD Million), 2018-2023
6.    Canada Cocoa Market Forecast: Breakup by Application (USD Million), 2024-2032
7.    Canada Cocoa Historical Market: Breakup by Region (USD Million), 2018-2023
8.    Canada Cocoa Market Forecast: Breakup by Region (USD Million), 2024-2032
9.    Major Importing Countries by Volume
10.    Major Exporting Countries by Volume
11.    Major Importing Countries by Value
12.    Major Exporting Countries by Value
13.    Canada Cocoa Market Structure

Key Questions Answered in the Report

In 2023, the market reached an approximate value of USD 458.32 million.

The market is expected to grow at a CAGR of 5.6% between 2024 and 2032.

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 753.40 million by 2032.

The market is being driven due to the increasing demand for cocoa-based products, the growing popularity of dark chocolate, and the rising health consciousness among consumers.

Key trends aiding the market expansion include the increasing demand for sustainable cocoa products, the growing popularity of single-origin cocoa, and the increasing demand for fair trade cocoa.

Regions considered in the market are Northern Canada, British Columbia, Alberta, The Prairies, Central Canada, and Atlantic Canada.

By application, the market can be segmented into food and beverages (confectionery, dairy, bakery, among others), cosmetics and pharmaceuticals, among others.

Based on type, the market segmentations include cocoa butter, cocoa powder, and cocoa liquor.

Key players in the market are Barry Callebaut AG, Cargill, Incorporated, Blommer Chocolate Company, and Canada Cacao Company Inc., among others.

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