Registering a CAGR of 4.2% over the forecast period, the global cocoa & chocolate market is anticipated to reach the market value of US$ 74720 million in the year 2026 from US$ 55970 million in the year 2020
Cocoa & chocolate are used in order to provide flavor, texture and taste in addition to the functional and nutritional benefits. Cocoa powder, cocoa liquor and cocoa butter are some of the key elements used to manufacture chocolate. The favorable characteristics of cocoa butter provide a melt-in-the-mouth sensation and easy removal of chocolates from the molds. The chocolate also covers the bitter and unpleasant taste of tablets and encourages it to be used in medicinal purposes.
Key players in the market are Nestle SA, Blommer chocolate company, Barry Callebaut, Cargill, Mars etc. The top five manufacturers hold a combined share of 50%. Europe remains the largest market with a market share of 35% which is followed by North America and Southeast Asia with a share of 35%. In terms of product, with a share of around 70%, chocolate remains the largest segment and in terms of application, the largest application is confectionary followed by cosmetics, food & beverage and pharmaceuticals and more. The report also assesses the key opportunities in the Cocoa & Chocolate market and outlines the factors that are and will be driving the growth of the industry. Growth of the overall global Cocoa & Chocolate Market has also been forecasted for the period 2022-2027, taking into consideration the previous growth patterns, the growth drivers and the current and future trends.
Top Key Players in the Cocoa & Chocolate Market have been identified through secondary research, and their market shares have been determined through primary and secondary research. The global Cocoa & Chocolate Market is fragmented with a large number of small players operating worldwide. The companies referred in the market research report includes Barry Callebaut, Cargill, Nestle SA, Mars, Hershey, Blommer Chocolate, FUJI OIL, Puratos, Cémoi, Irca, Foley's Candies LP, Olam, Kerry, Guittard, Ferrero, Ghirardelli, Alpezzi Chocolate, Valrhona, Republica Del Cacao, TCHO and others.
Nestle unveilings dark chocolate bar made with cocoa fruit - Nestle has introduced Income, a 70% dark chocolate bar made completely with cocoa fruit, under its Les Recettes de L’Atelier brand. The launch brings cocoa pulp-sweetened chocolate to a wider audience across several countries. It will appear on shelves in retail in France and the Netherlands with other European markets to follow.
The market is segmented based on the type, applications, companies and regions.
By Type, the Cocoa & Chocolate Market has been segmented into
By Applications, the Cocoa & Chocolate Market has been segmented into
The cocoa & chocolate market has been growing at a fast pace. The strong demand from North America is fuelling the cocoa & chocolate market in the region. Cocoa provides flavor, texture, and color to products. Further, it has anti-oxidative, anti-inflammatory, and anti-depressant properties. The market for these ingredients is growing in developing economies such as China and India.
North America
The Cocoa & Chocolate Market describes the factors driving the global growth opportunities in upcoming years and highlights market channels. In addition, the report analyzes market size and share, trends, by geographic region, end-use type and segment. It focuses extensively on revealing a detailed regional analysis. The Global Cocoa & Chocolate Market report also conducted a PESTEL analysis of the industry to study the main influencing factors and entry barriers of the industry.
Report Attributes | Report Details |
Report Title | Cocoa & Chocolate Market - Global Growth, Trends and Forecast (2022 - 2027) By Types, By Application, By Regions and By Key Players Barry : Callebaut, Cargill, Nestle SA, Mars, Hershey, Blommer Chocolate |
Forecast Period 2022 to 2028 CAGR | CAGR of 2.5% over the forecast period (2022-2027) |
By Type |
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By Application |
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By Companies | DowDuPont, 3M, Solvay, Daikin, Asahi Glass and others. |
Regions Covered |
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Countries Covered |
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Base Year | 2022 |
Historical Year | 2017 to 2021 |
Forecast Year | 2022 to 2027 |
Number of Pages | 133 |
Customization Available | Yes, the report can be customized as per your needs |
Frequently Asked Questions
What is the study period of this market?
The Cocoa & Chocolate Market is studied from 2017 - 2027.
What is the growth rate of Cocoa & Chocolate Market?
The Cocoa & Chocolate Market is growing at a CAGR of 2.5% over the next 5 years.
Who are the key players in Cocoa & Chocolate Market?
Barry Callebaut, Cargill, Nestle SA, Mars, Hershey, Blommer Chocolate, FUJI OIL, Puratos, Cémoi, Irca, Foley's Candies LP, Olam, Kerry, Guittard, Ferrero, Ghirardelli, Alpezzi Chocolate, Valrhona, Republica Del Cacao, TCHO and others.
What regions does this Cocoa & Chocolate Market report covers?
North America (the United States, Canada, and Mexico)
Europe (Germany, France, UK, Russia, and Italy)
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)
What are the significant types of Cocoa & Chocolate Market?
Cocoa, Chocolate
What are the major end-use applications of the Cocoa & Chocolate Market?
Confectionery, Food & Beverage, Cosmetics, Pharmaceuticals
All our reports are customizable to your company needs to a certain extent, we do provide 5 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report to your needs.
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SECONDARY RESEARCH
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
PRIMARY RESEARCH
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
MARKET ENGINEERING
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
EXPERT VALIDATION
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.
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