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Global Cocoa and Chocolate Market: By Type: Cocoa Ingredients, Chocolate; By Application: Food and Beverages, Cosmetics, Pharmaceuticals, Others; Regional Analysis; Historical Market and Forecast (2017-2027); Market Dynamics: SWOT Analysis; Value Chain Analysis; Competitive Landscape; Industry Events and Developments

Global Cocoa and Chocolate Market Outlook

The global cocoa and chocolate market reached a value of about USD 43.8 billion in 2021. The market is further estimated to grow at a CAGR of 5.20% in the forecast period of 2022-2027 to reach a value of around USD 59.37 billion by 2027.

 

Rising Demand for Cocoa Powder Aiding the Market Growth of Cocoa and Chocolate

Cocoa powder is used in large quantities as a flavouring and colouring agent and is available in wide varieties. Based on type, the demand for cocoa powder in the preparation of baked goods and confectionery is witnessing a surge. This can be attributed to the ability of cocoa powder to deliver deep, dark chocolate flavour that is hard to beat. The addition of cocoa powder to food preparations considerably impacts the properties of the end product, like the nutritional values and shelf life of the product. Additionally, fine particles and the negative zeta-potential of cocoa powder have a substantial impact on the texture of certain food items. The increasing use of cocoa powder in preparing delicacies other than baked items, such as smoothies and yoghurt, along with other ingredients like dried fruits or fresh fruits, is aiding the market growth. Moreover, the increasing prevalence of diabetes is leading to the increased adoption of unsweetened cocoa powder that consists of polyphenols and antioxidants, which improves blood sugar and cholesterol levels. Also, theobromine found in cocoa powder helps reduce inflammation and eliminates the risk of heart disease, cancer, and diabetes. These factors have positively impacted the cocoa and chocolate market growth globally.

 

Market Segmentation

Cocoa ingredients are extracted, after multiple processes, from the cocoa bean or cocoa, which is the dried and fermented seed of Theobroma cacao. Cocoa ingredients are added to food products in order to enhance their flavour or taste. Chocolate is a processed food product made from roasted and ground cocoa seed kernels. Chocolates are used on their own and can also be used as an ingredient in desserts and beverages.

The market for cocoa and chocolate, by type, is divided into:

  • Cocoa Ingredients
    • Cocoa Butter
    • Cocoa Liquor
    • Cocoa Powder
  • Chocolate
    • Dark
    • Milk
    • White

Based on application, the market is segmented into:

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

The regional markets for cocoa and chocolate can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Growing Popularity of Chocolate Flavoured Products to Drive the Market Growth of Cocoa and Chocolate

The rising popularity of ready-to-eat foods and beverages with chocolate flavour is leading to the growth of the cocoa and chocolate market. The presence of chemicals like tryptophan in chocolates, which produces serotonin and offers happiness, is leading to their increased consumption. Additionally, cocoa butter is increasingly used in the cosmetic sector as a rich moisturiser as it contains fatty acids, which hydrate the skin deeply. Further, the rising inclination towards home baking and the expanding restaurant chains, bakeries, and confectionery shops are resulting in the increased demand for cocoa and chocolate. The availability of different types of cocoa ingredients and chocolates, like cocoa butter, cocoa liquor, black chocolate, white chocolate, and others, is contributing to the market expansion. Additionally, the expanding distribution channels and the emergence of e-commerce are enabling the easy accessibility of cocoa and chocolate-based products.

The government initiatives towards boosting the production of cocoa to enhance its availability as a raw material for various products are accelerating the market development. For instance, in 2020, the Cocoa & Forests Initiative by the governments of Cote d’Ivoire and Ghana, along with 35 leading cocoa and chocolate companies, focused on teaching farmers to grow more cocoa on less land and aimed at sustainable cocoa production.  Over the forecast period, the new product launches by the market players to expand their product portfolio are expected to further augment the market growth.

 

Key Players in the Global Market for Cocoa and Chocolate

The report gives a detailed analysis of the following key players in the global cocoa and chocolate market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • Barry Callebaut AG
  • Cargill Incorporated
  • Nestlé S.A.
  • Olam International Limited
  • Cocoa Processing Company Limited (CPC)
  • Mondelez International, Inc.
  • Meiji Holdings Co., Ltd.
  • Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2021
Historical Period 2017-2021
Forecast Period 2022-2027
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 Ingredients
    • Cocoa Butter
    • Cocoa Liquor
    • Cocoa Powder
  • Chocolate
    • Dark
    • Milk
    • White
Breakup by Application
  • Food and Beverages
    • Confectionery
    • Dairy
    • Bakery
    • Others
  • Cosmetics
  • Pharmaceuticals
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT
  • Porter's Five Forces
  • Key Indicators for Demand
  • Key Indicators for Price
Trade Data Analysis
  • Major Exporting Countries
    • By Value
    • By Volume
  • Major Importing Countries
    • By Value
    • By Volume
Price Analysis
  • Historical Price Trends
  • Forecast Price Trends
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Barry Callebaut AG
  • Cargill Incorporated
  • Nestlé S.A.
  • Olam International Limited
  • Cocoa Processing Company Limited (CPC)
  • Mondelez International, Inc.
  • Meiji Holdings Co., Ltd.
  • Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*We at Expert Market Research always strive to give you the latest information. The numbers in the article are only indicative and may be different from the actual 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
    6.1    Global
    6.2    Regional
7    Industry Opportunities and Challenges
8    Global Cocoa and Chocolate Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Cocoa and Chocolate Historical Market (2017-2021) 
    8.3    Global Cocoa and Chocolate Market Forecast (2022-2027)
    8.4    Global Cocoa and Chocolate Market by Type
        8.4.1    Cocoa Ingredients
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2017-2021)
            8.4.1.3    Forecast Trend (2022-2027)
            8.4.1.4    Breakup by Type
                8.4.1.4.1    Cocoa Butter
                8.4.1.4.2    Cocoa Liquor
                8.4.1.4.3    Cocoa Powder
        8.4.2    Chocolate
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2017-2021)
            8.4.2.3    Forecast Trend (2022-2027)
            8.4.2.4    Breakup by Type
                8.4.2.4.1    Dark
                8.4.2.4.2    Milk
                8.4.2.4.3    White
    8.5    Global Cocoa and Chocolate Market by Application
        8.5.1    Food and Beverages
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2017-2021)
            8.5.1.3    Forecast Trend (2022-2027)
            8.5.1.4    Breakup by Type
                8.5.1.4.1    Confectionery
                8.5.1.4.2    Dairy
                8.5.1.4.3    Bakery
                8.5.1.4.4    Others
        8.5.2    Cosmetics
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2017-2021)
            8.5.2.3    Forecast Trend (2022-2027)
        8.5.3    Pharmaceuticals
            8.5.3.1    Market Share
            8.5.3.2    Historical Trend (2017-2021)
            8.5.3.3    Forecast Trend (2022-2027)
        8.5.4    Others
    8.6    Global Cocoa and Chocolate Market by Region
        8.6.1    Market Share
            8.6.1.1    North America
            8.6.1.2    Europe
            8.6.1.3    Asia Pacific
            8.6.1.4    Latin America
            8.6.1.5    Middle East and Africa
9    Regional Analysis
    9.1    North America
        9.1.1    Historical Trend (2017-2021)
        9.1.2    Forecast Trend (2022-2027)
        9.1.3    Breakup by Country
            9.1.3.1    United States of America 
            9.1.3.2    Canada
    9.2    Europe
        9.2.1    Historical Trend (2017-2021)
        9.2.2    Forecast Trend (2022-2027)
        9.2.3    Breakup by Country 
            9.2.3.1    United Kingdom
            9.2.3.2    Germany
            9.2.3.3    France
            9.2.3.4    Italy
            9.2.3.5    Others
    9.3    Asia Pacific
        9.3.1    Historical Trend (2017-2021)
        9.3.2    Forecast Trend (2022-2027)
        9.3.3    Breakup by Country
            9.3.3.1    China
            9.3.3.2    Japan
            9.3.3.3    India
            9.3.3.4    ASEAN
            9.3.3.5    Australia
            9.3.3.6    Others
    9.4    Latin America
        9.4.1    Historical Trend (2017-2021)
        9.4.2    Forecast Trend (2022-2027)
        9.4.3    Breakup by Country
            9.4.3.1    Brazil
            9.4.3.2    Argentina
            9.4.3.3    Mexico
            9.4.3.4    Others
    9.5    Middle East and Africa
        9.5.1    Historical Trend (2017-2021)
        9.5.2    Forecast Trend (2022-2027)
        9.5.3    Breakup by Country
            9.5.3.1    Saudi Arabia
            9.5.3.2    United Arab Emirates
            9.5.3.3    Nigeria
            9.5.3.4    South Africa
            9.5.3.5    Others
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyer’s Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
    10.3    Key Indicators for Demand
    10.4    Key Indicators for Price
11    Value Chain Analysis
12    Trade Data Analysis

    12.1    Major Exporting Countries
        12.1.1    By Value
        12.1.2    By Volume
    12.2    Major Importing Countries
        12.2.1    By Value
        12.2.2    By Volume 
13    Price Analysis
    13.1    North America Historical Price Trends (2017-2021) and Forecast (2022-2027)
    13.2    Europe Historical Price Trends (2017-2021) and Forecast (2022-2027)
    13.3    Asia Pacific Historical Price Trends (2017-2021) and Forecast (2022-2027)
    13.4    Latin America Historical Price Trends (2017-2021) and Forecast (2022-2027)
    13.5    Middle East and Africa Historical Price Trends (2017-2021) and Forecast (2022-2027)
14    Competitive Landscape
    14.1    Market Structure
    14.2    Company Profiles
        14.2.1    Barry Callebaut AG
            14.2.1.1    Company Overview
            14.2.1.2    Product Portfolio
            14.2.1.3    Demographic Reach and Achievements
            14.2.1.4    Certifications
        14.2.2    Cargill Incorporated
            14.2.2.1    Company Overview
            14.2.2.2    Product Portfolio
            14.2.2.3    Demographic Reach and Achievements
            14.2.2.4    Certifications
        14.2.3    Nestlé S.A.
            14.2.3.1    Company Overview
            14.2.3.2    Product Portfolio
            14.2.3.3    Demographic Reach and Achievements
            14.2.3.4    Certifications
        14.2.4    Olam International Limited
            14.2.4.1    Company Overview
            14.2.4.2    Product Portfolio
            14.2.4.3    Demographic Reach and Achievements
            14.2.4.4    Certifications
        14.2.5    Cocoa Processing Company Limited (CPC)
            14.2.5.1    Company Overview
            14.2.5.2    Product Portfolio
            14.2.5.3    Demographic Reach and Achievements
            14.2.5.4    Certifications
        14.2.6    Mondelez International, Inc.
            14.2.6.1    Company Overview
            14.2.6.2    Product Portfolio
            14.2.6.3    Demographic Reach and Achievements
            14.2.6.4    Certifications
        14.2.7    Meiji Holdings Co., Ltd.
            14.2.7.1    Company Overview
            14.2.7.2    Product Portfolio
            14.2.7.3    Demographic Reach and Achievements
            14.2.7.4    Certifications
        14.2.8    Others
15    Industry Events and Developments

 

Additional Customisations Available

1    Manufacturing Process
    1.1    Overview
    1.2    Detailed Process Flow
    1.3    Operation Involved
2    Project Requirement and Cost Analysis
    2.1    Land, Location and Site Development
    2.2    Construction
    2.3    Plant Machinery
    2.4    Cost of Raw Material
    2.5    Packaging
    2.6    Transportation
    2.7    Utilities
    2.8    Manpower
    2.9    Other Capital Investment

 

List of Key Figures and Tables

1.    Global Cocoa and Chocolate Market: Key Industry Highlights, 2017 and 2027
2.    Global Cocoa and Chocolate Historical Market: Breakup by Type (USD Billion), 2017-2021
3.    Global Cocoa and Chocolate Market Forecast: Breakup by Type (USD Billion), 2022-2027
4.    Global Cocoa and Chocolate Historical Market: Breakup by Application (USD Billion), 2017-2021
5.    Global Cocoa and Chocolate Market Forecast: Breakup by Application (USD Billion), 2022-2027
6.    Global Cocoa and Chocolate Historical Market: Breakup by Region (USD Billion), 2017-2021
7.    Global Cocoa and Chocolate Market Forecast: Breakup by Region (USD Billion), 2022-2027
8.    North America Cocoa and Chocolate Historical Market: Breakup by Country (USD Billion), 2017-2021
9.    North America Cocoa and Chocolate Market Forecast: Breakup by Country (USD Billion), 2022-2027
10.    Europe Cocoa and Chocolate Historical Market: Breakup by Country (USD Billion), 2017-2021
11.    Europe Cocoa and Chocolate Market Forecast: Breakup by Country (USD Billion), 2022-2027
12.    Asia Pacific Cocoa and Chocolate Historical Market: Breakup by Country (USD Billion), 2017-2021
13.    Asia Pacific Cocoa and Chocolate Market Forecast: Breakup by Country (USD Billion), 2022-2027
14.    Latin America Cocoa and Chocolate Historical Market: Breakup by Country (USD Billion), 2017-2021
15.    Latin America Cocoa and Chocolate Market Forecast: Breakup by Country (USD Billion), 2022-2027
16.    Middle East and Africa Cocoa and Chocolate Historical Market: Breakup by Country (USD Billion), 2017-2021
17.    Middle East and Africa Cocoa and Chocolate Market Forecast: Breakup by Country (USD Billion), 2022-2027
18.    Major Exporting Countries by Value
19.    Major Importing Countries by Value
20.    Major Exporting Countries by Volume
21.    Major Importing Countries by Volume
22.    North America Historical Price Trends and Forecast 2017-2027
23.    Europe Historical Price Trends and Forecast 2017-2027
24.    Asia Pacific Historical Price Trends and Forecast 2017-2027
25.    Latin America Historical Price Trends and Forecast 2017-2027
26.    Middle East and Africa Historical Price Trends and Forecast 2017-2027
27.    Global Cocoa and Chocolate Market Structure

Key Questions Answered in the Report

In 2021, the global cocoa and chocolate market attained a value of nearly USD 43.8 billion.

The market is assessed to grow at a CAGR of 5.20% between 2022 and 2027.

The market is estimated to witness a healthy growth in the forecast period of 2022-2027 to reach almost USD 59.37 billion by 2027.

The major market drivers include the expanding distribution channels, availability of different types of cocoa and chocolate, expanding food and beverage sector, increasing use of unsweetened cocoa powder due to multiple health benefits, rising inclination towards ready-to-eat food items, government initiatives to boost cocoa production, and adoption of home baking.

The key trends guiding the growth of the market include the growing popularity of chocolate flavour, its wide adoption in various food products and beverages, emergence of e-commerce channels, and new product launches by market players.

The major regions are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The significant types of the product explored in the market report include cocoa ingredients and chocolate.

The various applications of cocoa and chocolate include food and beverages, cosmetics, and pharmaceuticals, among others.

The major players in the market are Barry Callebaut AG, Cargill Incorporated, Nestlé S.A., Olam International Limited, Cocoa Processing Company Limited (CPC), Mondelez International, Inc., and Meiji Holdings Co., Ltd., among others.

Analyst Review

The global cocoa and chocolate market attained a value of nearly USD 43.8 billion in 2021, driven by the growing popularity of chocolate flavour and its wide adoption in various food products and beverages. Aided by the new product launches by the market players, the market is expected to witness a further growth in the forecast period of 2022-2027, growing at a CAGR of 5.20%. The market is estimated to reach about USD 59.37 billion by 2027.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. The market for cocoa and chocolate, by type, is divided into cocoa ingredients and chocolate. Based on application, the market is segmented into food and beverages, cosmetics, and pharmaceuticals, among others. The major regional markets for cocoa and chocolate are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Barry Callebaut AG, Cargill Incorporated, Nestlé S.A., Olam International Limited, Cocoa Processing Company Limited (CPC), Mondelez International, Inc., and Meiji Holdings Co., Ltd., among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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