The new report by Expert Market Research titled, ‘Global Cocoa Processing Market Trends, Size, Share, Growth, Analysis, Report and Forecast 2023-2028’, gives an in-depth analysis of the global cocoa processing market, assessing the market based on its segments like bean type, product type, application and major regions like North America, Europe, Asia Pacific, Latin America, Middle East and Africa.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2022): 4.58 million tons
- Forecast CAGR (2023-2028): 1.3%
- Forecast Market Size (2028): 4.95 million tons
Cocoa beans are strong in flavonoids, proanthocyanidins, and theobromines, and are recognised for their antioxidant, anti-inflammatory, and anti-aging qualities. Flavonosides are also linked to the risk of cardiovascular diseases such as arrythmia, cardiomyopathy, and cardiovascular disease. This has resulted in an increase in demand for cocoa-based goods among health-conscious consumers.
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Furthermore, cocoa remains an important raw material for the international chocolate industry, which accounts for a considerable portion of the global cocoa processing market. Apart from the chocolate industry, cocoa is used in a variety of applications, including bread, milk and beverage goods, cosmetics, and pharmaceutical.
Cocoa butter and other cocoa ingredients are used in over-the-counter personal care products such as lotions, lip balls, creams, and soap bars to moisturise the skin and treat chapped lips. They’re also employed as coating and flavouring compounds in a variety of vitamins and medications.
Cocoa Processing Industry Definition and Major Segments
The dried and fully fermented fatty seed of the cocoa tree, Theobroma cacao, is known as a cocoa bean or cacao bean. It’s mostly used to make cocoa solids or powder, and cocoa butter, which are then used to make chocolate, bakery goods, ice cream, and milk drinks, among many other items.
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Based on the bean type, the industry is divided into:
- Forastero
- Criollo
- Trinitario
- Others
Based on the product type, the industry is divided into:
- Cocoa Butter
- Cocoa Liquor
- Cocoa Powder
Based on the application, the industry is divided into:
- Confectionery
- Bakery
- Beverages
- Pharmaceuticals
- Others
The regional markets for cocoa processing include:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Cocoa Processing Market Trends
Geographically, Cote d’Ivoire and Ghana are currently the world’s two largest cocoa producers. Together, the two countries produce roughly 60% of all cocoa in the world. Indonesia, Nigeria, Ecuador, Brazil, and Cameroon are also major cocoa producers.
Africa currently produces more than 70% of all cocoa produced worldwide. Despite being the world’s greatest producer, Africa only accounts for about 21% of the worldwide cocoa processing industry. Europe is the world’s largest importer and processor of cocoa.
Processed cocoa products have applications in a variety of other industries. Cocoa powder, for instance, is used in chocolate milk, cookies, ice cream, cakes, and a variety of other foods and beverages. Cocoa butter is also commonly utilised in the manufacture of soaps, cosmetics, and pharmaceuticals.
Key Market Players
The major players in the market are Barry Callebaut, Cargill Inc., Nestlé S.A, Mondel?z International, among others.
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