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Cocoa Products Market

Global Cocoa Products Market Size, Share, Forecast: By Product: Cocoa Beans, Cocoa Butter, Cocoa Powder and Cake, Cocoa Paste and Liquor, Chocolate; By Application: Confectionery, Food and Beverages, Cosmetics, Pharmaceutical, Others; Regional Analysis; Market Dynamics: SWOT Analysis; Competitive Landscape; 2024-2032

Global Cocoa Products Market Outlook

The global cocoa products market stood at a value of USD 34.24 billion in 2023 and is further projected to grow at a CAGR of 5.8% during the forecast period of 2024-2032 to reach a value of USD 56.94 billion by 2032.

 

Cocoa Products Market

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The cocoa beans segment, among its other product-types, represented the largest share in the market in 2020 and is further anticipated to dominate the market between 2021 and 2026.

 

Market Segmentation

Cocoa can be obtained from the seed processing of cocoa tree. Many products are made from cocoa seeds like cocoa butter, liquor, or powder. The cocoa products market can be divided on the basis of segments like product and application.

The market, based on its product-type, can be divided into cocoa beans, cocoa powder and cake, cocoa butter, cocoa paste and liquor, and chocolate. While cocoa powder is mainly used in the production of chocolate and baked goods, cocoa paste is used in the production of desserts. Cocoa butter is widely used to produce skincare products in the pharmaceutical and cosmetic sectors. The liquor form of cocoa can be used as a separate product or it can be blended to create confectioneries with other products.

 

Cocoa Products Market By Segments

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The industry can be broadly categorised on the basis of its application into:

  • Confectionery
  • Food and Beverages
  • Cosmetics
  • Pharmaceutical
  • Others

The EMR report looks into the regional cocoa products markets like North America, Latin America, Europe, the Middle East and Africa, and the Asia Pacific.

 

Market Analysis

The increasing awareness regarding the various health advantages of cocoa-based products is driving the growth of the global cocoa products industry. The health advantages include reduced hypertension, reduced syndrome of chronic fatigue, and sunburn protection. Cocoa is rich in polyphenols that help in the protection of the tissues of the body from oxidative stress and related pathologies like cancers and inflammation. These factors are driving the development of the market for cocoa products. The rising demand for chocolate and chocolate-based items such as dairy chocolate, sweet chocolate, and dark chocolate, along with aggressive brand-recognition campaigns by the producers, are driving the cocoa products market further. High prices and limited cocoa manufacturing plants, however, may hinder the cocoa products market growth.

 

Cocoa Products Market By Region

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Competitive Landscape

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

  • The Hershey Company (NYSE: HSY)
  • Barry Callebaut
  • Cargill, Incorporated
  • Fuji Oil Co., Ltd.
  • United Cocoa Processor, Inc.
  • Jindal Cocoa
  • Others

The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter’s five forces.

 

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

  • Product
  • Application
  • Region
Breakup by Product
  • Cocoa Beans
  • Cocoa Butter
  • Cocoa Powder and Cake
  • Cocoa Paste and Liquor
  • Chocolate
Breakup by Application
  • Confectionery
  • Food and Beverages
  • Cosmetics
  • Pharmaceutical
  • 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 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
  • The Hershey Company (NYSE: HSY)
  • Barry Callebaut
  • Cargill, Incorporated
  • Fuji Oil Co., Ltd.
  • United Cocoa Processor, Inc.
  • Jindal Cocoa
  • 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.

 

*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    Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Cocoa Beans Analysis

    8.1    Key Industry Highlights
    8.2    Global Cocoa Products Historical Market (2018-2023) 
    8.3    Global Cocoa Products Market Forecast (2024-2032)
    8.4    Global Cocoa Products Market by Product
        8.4.1    Cocoa Beans
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
        8.4.2    Cocoa Butter
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
        8.4.3    Cocoa Powder and Cake
            8.4.3.1    Historical Trend (2018-2023)
            8.4.3.2    Forecast Trend (2024-2032)
        8.4.4    Cocoa Paste and Liquor
            8.4.4.1    Historical Trend (2018-2023)
            8.4.4.2    Forecast Trend (2024-2032)
        8.4.5    Chocolate
            8.4.5.1    Historical Trend (2018-2023)
            8.4.5.2    Forecast Trend (2024-2032)
    8.5    Global Cocoa Products Market by Application
        8.5.1    Confectionery
            8.5.1.1    Historical Trend (2018-2023)
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    Food and Beverages
            8.5.2.1    Historical Trend (2018-2023)
            8.5.2.2    Forecast Trend (2024-2032)
        8.5.3    Cosmetics
            8.5.3.1    Historical Trend (2018-2023)
            8.5.3.2    Forecast Trend (2024-2032)
        8.5.4    Pharmaceutical
            8.5.4.1    Historical Trend (2018-2023)
            8.5.4.2    Forecast Trend (2024-2032)
        8.5.5    Others   
    8.6    Global Cocoa Products Market by Region
        8.6.1    North America
            8.6.1.1    Historical Trend (2018-2023) 
            8.6.1.2    Forecast Trend (2024-2032)
        8.6.2    Europe
            8.6.2.1    Historical Trend (2018-2023) 
            8.6.2.2    Forecast Trend (2024-2032)
        8.6.3    Asia Pacific
            8.6.3.1    Historical Trend (2018-2023) 
            8.6.3.2    Forecast Trend (2024-2032)
        8.6.4    Latin America
            8.6.4.1    Historical Trend (2018-2023) 
            8.6.4.2    Forecast Trend (2024-2032)
        8.6.5    Middle East and Africa
            8.6.5.1    Historical Trend (2018-2023) 
            8.6.5.2    Forecast Trend (2024-2032)
9    North America Cocoa Products Market Analysis
    9.1    United States of America 
        9.1.1    Historical Trend (2018-2023) 
        9.1.2    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Historical Trend (2018-2023) 
        9.2.2    Forecast Trend (2024-2032)
10    Europe Cocoa Products Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2023) 
        10.1.2    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Historical Trend (2018-2023) 
        10.2.2    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Historical Trend (2018-2023) 
        10.3.2    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Historical Trend (2018-2023) 
        10.4.2    Forecast Trend (2024-2032)
    10.5   Others
11    Asia Pacific Cocoa Products Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2023) 
        11.1.2    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Historical Trend (2018-2023) 
        11.2.2    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Historical Trend (2018-2023) 
        11.3.2    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2023) 
        11.4.2    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Historical Trend (2018-2023) 
        11.5.2    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America Cocoa Products Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2023) 
        12.1.2    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2023) 
        12.2.2    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2023) 
        12.3.2    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and Africa Cocoa Products Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2023) 
        13.1.2    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2023) 
        13.2.2    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2023) 
        13.3.2    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2023) 
        13.4.2    Forecast Trend (2024-2032)
    13.5    Others
14    Market  Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Competitive Landscape
    15.1    Market Structure
    15.2    Company Profiles
        15.2.1    The Hershey Company (NYSE: HSY)
            15.2.1.1    Company Overview
            15.2.1.2    Product Portfolio
            15.2.1.3    Demographic Reach and Achievements
            15.2.1.4    Certifications
        15.2.2    Barry Callebaut
            15.2.2.1    Company Overview
            15.2.2.2    Product Portfolio
            15.2.2.3    Demographic Reach and Achievements
            15.2.2.4    Certifications
        15.2.3    Cargill, Incorporated
            15.2.3.1    Company Overview
            15.2.3.2    Product Portfolio
            15.2.3.3    Demographic Reach and Achievements
            15.2.3.4    Certifications
        15.2.4    Fuji Oil Co., Ltd.
            15.2.4.1    Company Overview
            15.2.4.2    Product Portfolio
            15.2.4.3    Demographic Reach and Achievements
            15.2.4.4    Certifications
        15.2.5    United Cocoa Processor, Inc.
            15.2.5.1    Company Overview
            15.2.5.2    Product Portfolio
            15.2.5.3    Demographic Reach and Achievements
            15.2.5.4    Certifications
        15.2.6    Jindal Cocoa
            15.2.6.1    Company Overview
            15.2.6.2    Product Portfolio
            15.2.6.3    Demographic Reach and Achievements
            15.2.6.4    Certifications
        15.2.7    Others
16    Key Trends and Developments in the Market


List of Key Figures and Tables

1.    Global Cocoa Products Market: Key Industry Highlights, 2018 and 2032
2.    Global Cocoa Products Historical Market: Breakup by Product (USD Million), 2018-2023
3.    Global Cocoa Products Market Forecast: Breakup by Product (USD Million), 2024-2032
4.    Global Cocoa Products Historical Market: Breakup by Application (USD Million), 2018-2023
5.    Global Cocoa Products Market Forecast: Breakup by Application (USD Million), 2024-2032
6.    Global Cocoa Products Historical Market: Breakup by Region (USD Million), 2018-2023
7.    Global Cocoa Products Market Forecast: Breakup by Region (USD Million), 2024-2032
8.    North America Cocoa Products Historical Market: Breakup by Country (USD Million), 2018-2023
9.    North America Cocoa Products Market Forecast: Breakup by Country (USD Million), 2024-2032
10.    Europe Cocoa Products Historical Market: Breakup by Country (USD Million), 2018-2023
11.    Europe Cocoa Products Market Forecast: Breakup by Country (USD Million), 2024-2032
12.    Asia Pacific Cocoa Products Historical Market: Breakup by Country (USD Million), 2018-2023
13.    Asia Pacific Cocoa Products Market Forecast: Breakup by Country (USD Million), 2024-2032
14.    Latin America Cocoa Products Historical Market: Breakup by Country (USD Million), 2018-2023
15.    Latin America Cocoa Products Market Forecast: Breakup by Country (USD Million), 2024-2032
16.    Middle East and Africa Cocoa Products Historical Market: Breakup by Country (USD Million), 2018-2023
17.    Middle East and Africa Cocoa Products Market Forecast: Breakup by Country (USD Million), 2024-2032
18.    Global Cocoa Products Market Structure

Key Questions Answered in the Report

In 2023, the global cocoa products market attained a value of nearly USD 34.24 billion.

The market is projected to grow at a CAGR of 5.8% between 2024 and 2032.

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 56.94 billion by 2032. 

The major market drivers are rising food and beverage industry, growing demand from the bakery industry, and the increasing awareness regarding the various health advantages of cocoa-based products.

The key trends of the market include the increasing demand for chocolate and chocolate-based items and aggressive brand-recognition campaigns by the producers.

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

The dominant product type of cocoa in the global market is cocoa beans.

The major applications of cocoa products include confectionery, food and beverages, cosmetics, and pharmaceutical, among others.

The major players in the market are The Hershey Company (NYSE: HSY), Barry Callebaut, Cargill, Incorporated, Fuji Oil Co., Ltd., United Cocoa Processor, Inc., Jindal Cocoa, Others.

Analyst Review

The global cocoa products market attained a value of USD 34.24 billion in 2023, driven by the increasing awareness regarding the various health advantages of cocoa-based products. Aided by the aggressive brand-recognition campaigns by the producers, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 5.8%. The market is projected to reach USD 56.94 billion by 2032.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its product types, the cocoa products industry can be segmented cocoa beans, cocoa powder and cake, cocoa butter, cocoa paste and liquor, and chocolate, among others, with cocoa beans accounting for the largest market share. On the basis of applications, the confectionary sector accounts for the leading share in the industry. The major regional markets for cocoa products are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include The Hershey Company (NYSE: HSY), Barry Callebaut, Cargill, Incorporated, Fuji Oil Co., Ltd., United Cocoa Processor, Inc., Jindal Cocoa, 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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