Global Cocoa Market is Anticipated to Grow to Over US$ 40 Billion in 2022 From a Value of Just US$ 35 Billion in 2017

Posted on 2018-05-02 by Mark Hub in Food & Beverage // 0 Comments

ROCKVILLE, US, 2018-May-02 — /EPR Network/ — A freshly compiled business intelligent report, titled “Cocoa Market Forecast, Trend Analysis & Competition Tracking: Global Review 2017 to 2022” has been publicized to the vast archive of Fact.MR online repository. This _ page study delivers all the vital details and information required to know about “Cocoa” market current as well as future prospects. The analysts of the study have gone through extensive research methodologies in order to generate data and information that reflects the latest market undercurrents and industry trends. For a deeper understanding of the market, a sub-category level analysis has been elaborated, by which readers and investors of the report will able to know that where the market stands to gain.

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Cocoa, which is obtained from processed cocoa beans, is usually available in powdered or liquid form. Cocoa continues to be the key ingredient for chocolate production. The West African countries, including Cote d’Ivoire, Ghana, Nigeria and Cameroon are the leading producers of cocoa in the world.

There has been strong economic growth witnessed in emerging markets across the globe, particularly in the APEJ region led by China and India. Rising affluence and a greater disposable income has allowed people to indulge in commodities that were once considered ‘luxuries’ such as chocolates. While the per capita chocolate consumption in APEJ is still lower than that of developed countries, it is rising at a much higher rate which this will directly benefit the global cocoa market. With a CAGR of 3.3%, the global cocoa market is anticipated to grow to over US$ 40 billion in 2022 from a value of just US$ 35 billion in 2017.

Cocoa Liquor Most Lucrative Segment in Global Cocoa Market

Cocoa liquor has a revenue share of almost 45% of the product type segment in the cocoa market in 2017 and it is predicted to grow at a steady rate during the forecast period. By this time, Europe should contribute almost US$ 5 billion i.e. 30% of the cocoa market and key stakeholders are advised to devise appropriate strategies to target both this region and segment of the cocoa market.

Higher CAGR Seen in Cocoa Butter over Cocoa Powder in Cocoa Market

Cocoa butter is likely to grow at a moderate CAGR, but relatively higher than cocoa powder. In the case of cocoa butter, the market opportunity may grow to more than US$ 9 billion in 2022 from under US$ 7.7 billion in 2017. While Europe consists of 1/3^rd of the market by regional contribution, North America is close on its heels and is an equally lucrative opportunity in the cocoa market.

Competition Tracking

The report has profiled companies such as United Cocoa Processor, Meiji Holdings Company, Ltd., Blommer Chocolate Company, Mars, Incorporated, Cemoi Chocolatier SA, Puratos Group, Cargill Incorporated, Nestlé S.A., The Hershey Company, and The Barry Callebaut Group as key manufacturers of cocoa in the global market.

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Following excerpts from Fact.MR’s global cocoa market forecast will be ardent to the market’s future prospects

Cocoa liquor will continue to be the top selling cocoa product throughout the forecast period. In terms of revenue, cocoa liquor will account for over 44% share of the market by the end of 2017. Meanwhile, demand for cocoa powder is also likely to increase at significant pace over 2022.

Confectionary remains the largest application segment of the global cocoa market and is expected to account for over 28% revenue share of the market. Towards the end of assessment period, this segment is expected to reach a market valuation of US$ 10,423.9 Mn in 2022. Apart from food and beverage, cocoa also finds application in the cosmetic and pharmaceutical product.

In terms of revenue, Europe currently leads the global market for cocoa, and the trend is likely to continue throughout the forecast period. The region is expected to remain one of the most attractive market for cocoa products in 2017 and beyond. During the same period, North America in projected to retain its second spot in the global cocoa market.

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