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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.
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 Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Type
Market Breakup by Application
Market Breakup by Region
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.
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:
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Breakup by Type |
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Breakup by Application |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.
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
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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