About Cocoa & Chocolate -
Cocoa powder and chocolate are made from the dried seeds that are found in pods on the cacao tree. Cocoa & chocolate are useful in providing taste, flavor, & texture to food, in addition to nutritional as well as functional benefits. Cocoa powder, Cocoa butter, & cocoa liquor are the main ingredients used to manufacture chocolates. With the promising characteristics of cocoa butter such as melting point & contraction, it is widely used in chocolate manufacturing offering a delicious taste & easy removal of chocolates from the molds. Presently, there are many cocoa & chocolate producing companies present in the market. Various type of chocolates such as dark, white, milk, as well as filled chocolate are offered by the players in the market. Growing applications of cocoa & chocolate in confectionery, food & beverage, cosmetics, as well as pharmaceuticals are likely to impel the global cocoa & chocolate market growth over the coming years.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia-Pacific |
Unit | Value (USD Million) |
CAGR | 4.3% |
As of February 2019, Cargill, Incorporated plans to invest USD 20 million for set up a Greenfield premix plant in Kota, Rajasthan, India. As per the company, it strives to partner in Rajasthan’s growth by bringing its global expertise in food & agriculture production to the state. The plant will be built on 15 acres of land in Tathed Village of Kota District. It will include a monthly manufacturing capacity of 7,500 tons of animal nutrition products & supplement to serve customers in the state, entire North India as well as also export markets. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Cocoa & Chocolate - market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Cargill, Incorporated. (United States), Barry Callebaut (Switzerland), Nestle S.A (Switzerland), Blommer Chocolate Company (United States), CÉMOI Group (France), The Cocoa Processing Company Limited (Ghana), Mars, Incorporated (United States), Meiji Holdings Co. Ltd. (Japan), Olam International (Singapore) and The Hershey Company (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Valrhona (France), Ferrero International S.A. (Italy), Foley’s Candies LP (Canada) and Puratos Group (Belgium).
Segmentation Overview
AMA Research has segmented the market of Global Cocoa & Chocolate - market by , Application (Confectionery, Food & Beverage, Cosmetics and Pharmaceuticals) and Region.
On the basis of geography, the market of Cocoa & Chocolate - has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. Europe, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by Chocolate Type, the sub-segment i.e. Dark will boost the Cocoa & Chocolate - market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Cocoa Varieties, the sub-segment i.e. Criollo will boost the Cocoa & Chocolate - market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Cocoa Form, the sub-segment i.e. Cocoa Butter will boost the Cocoa & Chocolate - market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Growth Drivers:
Increasing Number of Cocoa & Chocolate Applications and Increasing Demand for Cocoa & Chocolate in Confectionery and Food & Beverage Industries
Challenges:
Unstable Economies in Cocoa-Production
Restraints:
Counterfeit Products and High Raw Material Prices
Opportunities:
Product Innovation In Terms Of Formulations, Processing, & Packaging of Chocolates and Growing Applications in Cosmetic and Pharmaceutical Industry
One of the key player in global Cocoa & Chocolate market, Barry Callebaut has introduced Ruby chocolate, a variety of chocolate in the market. Since 20014, it has been in development, and was unveiled in 2017. This is made from the ruby cocoa bean. These Ruby beans are current botanical cocoa bean varieties and are identified as having the right attributes to be treated into ruby chocolate.
Key Target Audience
Cocoa & Chocolate Manufacturers, Raw Materials Suppliers, Government and Research Organizations, Industry Associations, Food & Beverage Industry, Cosmetics Industry, Pharmaceuticals Industry, End Users and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.