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Global Cocoa Market: By Derivative: Cocoa Butter, Cocoa Powder, Cocoa Liquor; By Application: Chocolate, Baby Food and Desserts, Others; By Region: North America, Europe, Asia Pacific, Latin America, Middle East & Africa; Historical Production and Consumption (2015-2019); Production and Consumption Forecast (2020-2025); SWOT Analysis; Value Chain Analysis; Competitive Landscape & Supplier Analysis; Events and Developments; Manufacturing Process; Production Cost Analysis and Project Economics; Procurement Strategy

Global Cocoa Market Key Insight:

 

  • Market Performance
  • Market Analysis and Outlook 2020-2025
  • Price Trends
  • Industry Opportunities
  • Breakup by Region
  • Cost Analysis
  • Competitive Landscape
  • Value Chain Analysis
  • Mergers and Acquisitions

 

Market Outlook

The global cocoa market attained a value of nearly USD 11 billion in 2019. The cocoa market is further expected to grow at a CAGR of 3.4% between 2020 and 2025 to attain a value of USD 13.52 billion.

The cocoa market is dominated by West African countries like Ivory Coast, Ghana, and Nigeria, owing to the favourable weather conditions in these regions for the production of the substance. The global supply grew by nearly 5% between 2017 and 2019, with Ivory Coast accounting for nearly 40% of the total global production. Indonesia is also a significant producer of cocoa beans. Ivory Coast, Ghana, Nigeria, and Indonesia together account for nearly three-fourths of the total global output of the product. Growing cocoa markets like Jamaica are receiving government aid to enhance their farming capabilities of the product, further propelling the cocoa market growth. Ivory Coast, Ghana, and Cameroon are the major exporters in the cocoa market. The Netherlands is the world's leading importers of the product, with Europe being its leading consumer market. The Netherlands imports nearly 25% of cocoa, followed by the United States and Germany.

The rapidly growing demand for organic or sustainable cocoa, along with higher nutritional content of the product, is expected to drive the cocoa market growth. The rising demand for derivatives of the product is further propelling the industry forward. The derivatives supply witnessed an increase of 6.5% between 2017 and 2019. Cocoa liquor, a leading derivative of the product, is expected to be the fastest growing derivative segment due to the diversification of its applications and its increasing preference in the production of chocolate.

Properties and Applications

Cocoa is derived from a tree called Theobroma cacao or cacao tree; a small evergreen tree usually found in the deep tropical areas of Mexico. The derivatives of the product can be divided into cocoa butter, powder, and liquor. Cocoa butter finds wide applications in the production of the following products:

  • Chocolate
  • Cosmetic and Pharmaceutical
  • Other

The application sectors of cocoa powder include the following:

  • Chocolate
  • Baby Food and Desserts
  • Other

Cocoa liquor has wide applications in the production of the following:

  • Chocolate
  • Drinks and Coatings
  • Others

The report also covers the regional cocoa markets like North America, Europe, the Middle East and Africa, Asia Pacific, and Latin America.

Market Analysis

Favourable weather conditions in Ghana is the major driving factor for the cocoa market growth. The introduction of a hand-pollination method by Ghana has led to increased production. The Asian markets are expected to show a fast-growing trend in chocolate consumption, which could be due to a rise in the disposable incomes of consumers, thus, aiding the growth of the cocoa market. The rising demand from consumer markets, such as China, India, the United States, and Europe, are driving the industry further. Chocolate production continues to be the main demand driver for the product with demand for cocoa butter expected to rise, especially in mature markets such as the United States and Europe, due to high consumer preferences. The primary driver for the rise in the grinding volume was the rising demand for cocoa powder from developing economies, like the Asia Pacific and Latin America.

With rising cases of heart disease, blood pressure, diabetes, and cancer, there is a sharp increase in the intake of natural food products that are effective in alleviating these conditions. Cocoa is rich in antioxidants and has been shown to decrease HDL, dilates blood vessels to relieve blood pressure, and increases insulin sensitivity. Also, the intake of dark chocolate is favoured as it contains minimal or no sugar. With the growing demand for clean label foods, the manufacturers of confectionery are switching to natural alternatives. Barry Callebaut has launched ‘Bensdorp Clean,’ a cocoa powder that is formulated using baking soda instead of alkalizing agents, making the brand suitable to be marked as clean. This is driving the growth of the overall cocoa market.

Price Analysis

The prices of the product experienced a surge in the 2018-2019 period due to unfavourable weather conditions leading to a supply deficit. However, the prices are expected to recover and witness an increase in the forecast period.

Competitive Landscape

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

  • Olam International
  • Cargill Inc.
  • Barry Callebaut AG
  • Cemoi Group
  • Cocoa Processing Company Limited
  • Choco Ivoire (SAF Group)

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

1    Preface
    1.1    Objectives of the Study
        1.1.1    Research Objective
        1.1.2    Key Findings of the Report
2    Research Methodology
    2.1    Data Extraction
    2.2    Data Corroboration
    2.3    Market Structure
    2.4    Assumptions
    2.5    Market Models
3    Introduction
    3.1    Market Outlook
    3.2    Market Scope and Segmentation
    3.3    Additional Insights
4    Executive Summary
    4.1    Key Market Developments
    4.2    Market Analysis
    4.3    Key Players
    4.4    Market Revenue and Growth
5    Market Dynamics
    5.1    Market Driver Analysis
    5.2    Market Restraint Analysis
    5.3    Industry Challenges
    5.4    Industry Opportunities
6    Global Cocoa Market Analysis
    6.1    Figure: Global Cocoa Historical Market (2015-2019) & Forecast (2020-2025)
    6.2    Chart: Global Cocoa Market Breakup by Derivative
        6.2.1    Cocoa Butter
        6.2.2    Cocoa Powder
        6.2.3    Cocoa Liquor
    6.3    Figure: Market Breakup by Derivative: Historical Market (2015-2019) & Forecast (2020-2025)
        6.3.1    Cocoa Butter
        6.3.2    Cocoa Powder
        6.3.3    Cocoa Liquor
    6.4    Chart: Global Cocoa Butter Market Breakup by Application
        6.4.1    Chocolate
        6.4.2    Cosmetic and Pharmaceutical
        6.4.3    Other
    6.5    Figure: Market Breakup by Application: Historical Market (2015-2019) & Forecast (2020-2025)
        6.5.1    Chocolate
        6.5.2    Cosmetic and Pharmaceutical
        6.5.3    Other
    6.6    Chart: Global Cocoa Powder Market Breakup by Application
        6.6.1    Chocolate
        6.6.2    Baby Food and Desserts
        6.6.3    Other
    6.7    Figure: Market Breakup by Application: Historical Market (2015-2019) & Forecast (2020-2025)
        6.7.1    Chocolate
        6.7.2    Baby Food and Desserts
        6.7.3    Other
    6.8    Chart: Global Cocoa Liquor Market Breakup by Application
        6.8.1    Chocolate
        6.8.2    Drinks and Coatings
        6.8.3    Others 
    6.9    Figure: Market Breakup by Application: Historical Market (2015-2019) & Forecast (2020-2025)
        6.9.1    Chocolate
        6.9.2    Drinks and Coatings
        6.9.3    Others 
    6.10    Chart: Global Cocoa Market Breakup by Region
        6.10.1    North America
            6.10.1.1    United States of America
            6.10.1.2    Canada
        6.10.2    Europe
            6.10.2.1    Germany
            6.10.2.2    France
            6.10.2.3    United Kingdom
            6.10.2.4    Italy
            6.10.2.5    Others
        6.10.3    Asia Pacific
            6.10.3.1    China
            6.10.3.2    Japan
            6.10.3.3    India
            6.10.3.4    ASEAN
            6.10.3.5    Others
        6.10.4    Latin America
            6.10.4.1    Brazil
            6.10.4.2    Argentina
            6.10.4.3    Mexico
            6.10.4.4    Others
        6.10.5    Middle East and Africa
            6.10.5.1    Saudi Arabia
            6.10.5.2    United Arab Emirates
            6.10.5.3    Nigeria
            6.10.5.4    South Africa
            6.10.5.5    Others
    6.11    Figure: Breakup by Region: Historical Market (2015-2019) & Forecast (2020-2025)
        6.11.1    North America
            6.11.1.1    United States of America
            6.11.1.2    Canada
        6.11.2    Europe
            6.11.2.1    Germany
            6.11.2.2    France
            6.11.2.3    United Kingdom
            6.11.2.4    Italy
            6.11.2.5    Others
        6.11.3    Asia Pacific
            6.11.3.1    China
            6.11.3.2    Japan
            6.11.3.3    India
            6.11.3.4    ASEAN
            6.11.3.5    Others
        6.11.4    Latin America
            6.11.4.1    Brazil
            6.11.4.2    Argentina
            6.11.4.3    Mexico
            6.11.4.4    Others
        6.11.5    Middle East and Africa
            6.11.5.1    Saudi Arabia
            6.11.5.2    United Arab Emirates
            6.11.5.3    Nigeria
            6.11.5.4    South Africa
            6.11.5.5    Others
7    Global Cocoa Beans Price Analysis
    7.1    North America Historical Price Trends (2015-2019) and Forecast (2020-2025)
    7.2    Europe Historical Price Trends (2015-2019) and Forecast (2020-2025)
    7.3    Asia Pacific Historical Price Trends (2015-2019) and Forecast (2020-2025)
    7.4    Latin America Historical Price Trends (2015-2019) and Forecast (2020-2025)
    7.5    Middle East and Africa Historical Price Trends (2015-2019) and Forecast (2020-2025)
8    Global (HS Code: 1801) Trade Analysis
    8.1    Major Exporting Countries: By Value and Volume
    8.2    Major Importing Countries: By Value and Volume
9    SWOT Analysis
    9.1    Overview
    9.2    Strengths
    9.3    Weaknesses
    9.4    Opportunities
    9.5    Threats
10    Porter’s Five Forces Analysis
    10.1    Overview
    10.2    Buyer’s Power
    10.3    Supplier’s Power
    10.4    New Entrants
    10.5    Degree of Rivalry
    10.6    Substitutes
11    Value Chain Analysis
12    EMR’s Key indicators for Demand
13    EMR’s Key Indicator for Price
14    Competitive Landscape & Supplier Analysis

    14.1    Olam International
        14.1.1    Company Overview
        14.1.2    Financial Analysis
    14.2    Cargill Inc.
        14.2.1    Company Overview
        14.2.2    Financial Analysis
    14.3    Barry Callebaut AG
        14.3.1    Company Overview
        14.3.2    Financial Analysis
    14.4    Cemoi Group
        14.4.1    Company Overview
        14.4.2    Financial Analysis
    14.5    Cocoa Processing Company Limited
        14.5.1    Company Overview
        14.5.2    Financial Analysis
    14.6    Choco Ivoire (SAF Group) 
        14.6.1    Company Overview
        14.6.2    Financial Analysis
15    Events and Developments

Additional Customisations Available:

16    Manufacturing Process
    16.1    Detailed Process Flow
    16.2    Operations Involved
    16.3    Mass Balance
17    Production Cost Analysis and Project Economics
    17.1    Land, Location and Site Development
    17.2    Construction
    17.3    Plant Machinery
    17.4    Cost of Raw Material
    17.5    Packaging
    17.6    Transportation
    17.7    Utilities
    17.8    Manpower
    17.9    Other Capital Investment
18    Procurement Strategy
    18.1    Contract Terms
    18.2    Buying and Sourcing Trends
    18.3    Storage and Warehousing
    18.4    Certifications and Regulations
    18.5    Risk Factors

The global cocoa market attained a value of nearly USD 11 billion in 2019. It is expected to witness a further growth in the forecast period of 2020-2025, growing at a CAGR of 3.4%. The cocoa market is projected to reach USD 13.52 billion by 2025.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its derivative, the global cocoa market can be segmented into cocoa butter,    powder, and liquor, with cocoa liquor expected to be the fastest growing segment. On the basis of application, the derivatives find their applications in chocolate, cosmetic and pharmaceutical, baby food and desserts, and drinks and coatings, among others. The major regional markets for the product are North America, the Asia Pacific, Europe, Latin America, and the Middle East and Africa. The key players in the above industry include Olam International, Cargill Inc., Barry Callebaut AG, Cemoi Group, Cocoa Processing Company Limited, and Choco Ivoire (SAF Group).

The major drivers of the industry such as rising disposable incomes, increasing population, healthy production growth, rising demand for the product in the Asia Pacific region, and an increasing awareness about the health benefits of the product and its derivatives are driving the growth of the cocoa market globally. 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 industry insights that are accurate, actionable, and help them remain ahead of their competition.

EMR’s approach gives their clients a comprehensive assessment of the prevailing and projected industry conditions through the collection, collation, and analysis of data from trusted sources. The key questions answered in the market study are:

  • How has the global cocoa market performed in the previous years (2015-2019)?
  • What is the forecast assessment of the cocoa market for 2020-2025?
  • What are the major industry drivers and constraints?
  • What are the major price and demand indicators of the global cocoa market?
  • What are the price trends of the product in the global industry?
  • Who are the key manufacturers of the product in the global cocoa market?
  • What is the degree of competition in the global cocoa market?
  • What are the import and export trends in the global cocoa market?
  • Who are the top importers and exporters of the product in the industry globally?

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