A new market study, titled “Discover Global Cocoa & Chocolate Market Upcoming Trends, Growth Drivers and Challenges” has been featured on WiseGuyReports.
The global cocoa & chocolate market is expected to witness a healthy and robust growth in the coming years. In 2019, the cocoa and chocolate market was estimated at 43.13 billion dollars in 2017. By the end of 2025, the market will reach 67.22 billion dollars. The market is expected to register a CAGR of 5.7% between the years 2019 and 2024. The market is expected to increase because of the increasing use of chocolate & cocoa in the chocolate confectionery sector. The overall increase in the demand for cocoa & chocolate will also boost the growth of this sector.
Dark chocolate is considered to have several health benefits when consumed. Dark chocolate when consumed in the right amount can help in reducing heart diseases. Studies reveal that dark chocolate has compounds that may reduce the risk of atrial fibrillation which is a condition that can help to reduce stroke, heart failure and other heart diseases.
The rising consumer expenditure on confectionery products is leading to the expansion of the global cocoa & chocolate market. In addition, cocoa and chocolate are liked by people of all ages and therefore there is always a steady demand of these products in the market. This is one of the major reasons for the growth of the global market for these products.
Key Players of Global Cocoa & Chocolate Market =>
- Barry Callebaut
- Plot Ghana
- Dutch Cocoa
- Cocoa Processing Company Limited
- JB Foods Limited
- United Cocoa Processor Inc
- Euromar Commodities GmbH
- Dandelion Chocolate
- Fuji Oil
- Guittard Chocolate
- Wuxi Huadong
- Shanghai Golden Mongkey
- Changzhou Xianger
- Qingdao Jiana
- Shanghai Najia
- Shaoxing Qili Xingguang
- Jiangsu Linzhi Shangyang
The global cocoa & chocolate market is segmented broadly by Type and Application.
By Type, the global cocoa & chocolate market is split into cocoa powder and chocolate. Cocoa powder is expected to witness a growing demand with major demand coming from the chocolate sector. Also the adoption of fair-trade practices by cocoa farmers is giving the market the required boost to grow. In addition, the use of chocolate with higher cocoa content is further fuelling the growth of the market. Chocolate confectionery and bakery products dominate the market shares.
Cocoa & chocolate find application in confectionery, food and beverages, chemicals and pharmaceutical industries. The confectionery sector is the leading segment in the market whereas the use of cocoa and chocolate in foods and beverages and chemical industries is also increasing and contributing to the global market share.
The global cocoa and chocolate market has dominating multi-national companies that have an effective distribution network. These players use vertically-integrated business models, have a huge customer base, and strong brand loyalty enabling them to contribute to the global market in a significant manner. The global market has always remained consolidated and will continue to do so in the coming years.
North America and Europe are the dominating regions contributing the maximum share to the global cocoa &chocolate market. This is because of the large cocoa manufacturing base present in these countries. Regions like Middle East, Africa and Asia Pacific are also witnessing an increase in the global market share of cocoa and chocolate. This is mainly because of the increase in the per-capita consumption of cocoa & chocolate in these regions. Asia Pacific is expected to register CAGR of almost 8.13% in the coming years in this sector.
Increasing health awareness and the health benefits of consuming less sugar may slow down the market a bit but the key players are ensuring that they come up with new products so that the demand for cocoa & chocolate is not affected. In 2018, for instance, Cadbury announced the launch of low calorie chocolate bar to address the needs of health-aware people. Cadbury expects the sale of this low-calorie chocolate bar to sky-rocket.
Major Key Points of Global Cocoa & Chocolate Market
- Chapter 1 About the Cocoa & Chocolate Industry
- Chapter 2 World Market Competition Landscape
- Chapter 3 World Cocoa & Chocolate Market share
- Chapter 4 Supply Chain Analysis
- Chapter 5 Company Profiles
- Chapter 6 Globalisation & Trade
- Chapter 7 Distributors and Customers
- Chapter 8 Import, Export, Consumption and Consumption Value by Major Countries
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