Cocoa Market is estimated to be US$ 31.99 billion by 2030 with a CAGR of 3.0% during the forecast period

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Published Date: May 2023

Cocoa Market accounted for US$ 25.05 billion in 2020 and is estimated to be US$ 31.99 billion by 2030 and is anticipated to register a CAGR of 3.0%. Before being processed, cocoa beans are dried and fermented to extract butter, oil, powder, liquor, and various residual solids. Astero, criollo, and trinitario are three common plants from which cocoa is produced. Cocoa or cocoa powder is ordinary in baking, dairy, and even beverages. Cocoa powder is used in various industries, including syrups, toppings, confectionary, coloring agents, and drinks. Cocoa and chocolate are used in cuisine to offer taste, flavor, texture, and nutritional and physiological benefits. Cocoa butter makes chocolates melt on your tongue and makes them easier to remove from molds. Chocolate masks the disagreeable taste of pills, encouraging their use for therapeutic purposes.

The report " Global Cocoa Market, By Source (Conventional and Organic), By Process (Dutch Process and Natural Process), By Product (Cocoa Liquor, Cocoa Butter and Cocoa Powder), By Application (Bakery Items, Beverages, Confectionary, Cosmetics, Functional Foods, and Pharmaceuticals), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis, and Forecast till 2029.’’

Key Highlights:

In 2021, in time for Veganuary, German chocolate manufacturer Ritter Sport is releasing its first vegan milk chocolate bar, Without Moo, in the UK.

Analyst View:

The market for cocoa products is growing as people become more aware of the health benefits of eating cocoa-rich foods. Reduced hypertension, chronic fatigue syndrome, and sunburn protection are just a few health benefits to the human body. Cocoa is also high in polyphenols, which protect the body's tissues from oxidative stress and related diseases, including cancer and inflammation. These factors are also driving the market for cocoa products to increase. The expansion of the cocoa products market is primarily driven by an increase in demand for chocolate and related goods such as milk chocolate, sweet chocolate, and dark chocolate, as well as active advertising by producers for brand recognition. However, the market's growth is hampered by unpredictable prices and low cocoa production.

Browse 60 market data tables and 35 figures* through 140 slides and in-depth TOC on “*Global Cocoa Market, By Source (Conventional and Organic), By Process (Dutch Process and Natural Process), By Product (Cocoa Liquor, Cocoa Butter and Cocoa Powder), By Application (Bakery Items, Beverages, Confectionary, Cosmetics, functional Foods, and Pharmaceuticals), and By Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa) - Trends, Analysis, and Forecast till 2029”

Key Market Insights from the report:

Global Cocoa Market accounted for US$ 25.05 billion in 2020 and is estimated to be US$ 31.99 billion by 2030 and is anticipated to register a CAGR of 3.0%. Global cocoa market is segmented into source, process, product, application and region.

Based on Source, Global Cocoa Market is segmented into Conventional and Organic.
Based on Process, Global Cocoa Market is segmented into Dutch Process and Natural Process.
Based on Product, Global Cocoa Market is segmented into Cocoa Liquor, Cocoa Butter and Cocoa Powder.
Based on Application, Global Cocoa Market is segmented into Bakery Items, Beverages, Confectionary, Cosmetics, functional Foods, and Pharmaceuticals.
By Region, the Global Cocoa Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Competitive Landscape & their strategies of Global Cocoa Market:

The key players in the global cocoa market includes Barry Callebaut Group, Mars Incorporated, Cargill Inc., Carlyle Cocoa Co, Ltd., Archer Daniels Midland (ADM) corporation, Blommer Chocolate Company, Cocoa Processing Company, Newtown Foods Pvt. Ltd., Puratos Group, The Hershey Company Pvt. Ltd.

The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.

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Some Important Points Answered in this Market Report Are Given Below:

Explains an overview of the product portfolio, including product development, planning, and positioning
Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
Detailed analysis of the market revenue over the forecasted period.
Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST & SWOT Analysis.
Study on the segments that are anticipated to dominate the market.
Study on the regional analysis that is expected to register the highest growth over the forecast period