Cocoa Market

Specialty cocoa is a special type of high quality cocoa that is of single origin and is produced by applying good pre and post-harvesting techniques.

PORTLAND, OR, US, November 1, 2023 /EINPresswire.com/ -- According to the report published by Allied Market Research, the global cocoa market generated $12.8 billion in 2019, and is projected to reach $15.5 billion by 2027, witnessing a CAGR of 4.3% from 2021 to 2027. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.

𝐀𝐬𝐤 𝐟𝐨𝐫 𝐬𝐚𝐦𝐩𝐥𝐞 𝐜𝐨𝐩𝐲 𝐨𝐟 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭 : https://www.alliedmarketresearch.com/request-sample/11372

Cocoa is extracted from Theobroma tree or cacao tree. The cocoa or cocoa beans are dried and fermented to produce cocoa liquor and by processing the cocoa liquor, cocoa butter and cocoa powder is extracted. The growing demand for chocolate is the key factor propelling the global cocoa market. Cocoa liquor is the major ingredient used to manufacture chocolate. Cocoa is widely used as flavoring, coloring, filling, and as topping in food & beverages, confectionery, and bakery industries. The growing application of cocoa in these industries is fueling the growth of the global cocoa market.

𝐓𝐨𝐩 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬:

The players operating in the global cocoa market have adopted various developmental strategies to expand their market share, exploit the cocoa market opportunity, and increase in profitability in the market. The key players profiled in this report include Cargill, Inc., Olam International Ltd., Toutan S.A., Barry Callebaut AG, The Hershey Company, Guan Chong Cocoa Manufacturer SDN. BHD, Ciranda, Inc., United Cocoa Processor, Inc., Bloomer Chocolate Company, and VJ Jindal Cocoa Private Limited.

Based on nature, the conventional segment held the highest market share in 2020, holding 91% of the total market share, and is expected to continue its leadership status during the forecast period. Moreover, the organic segment is estimated to register the highest CAGR of 5.0% from 2021 to 2027.

𝐁𝐮𝐲 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/checkout-final/79e5332e004c1e43a5ba5a434c82b9ad

According to the cocoa market forecast, on the basis of product type, the cocoa liquor segment was the highest contributor to the market, with $4,837.1 million in 2019, and is expected to sustain its significance during the forecast period. The cocoa liquor, also known as chocolate liquor is the essential item required to produce raw chocolate. Cocoa butter and cocoa powder are also produced from cocoa liquor.

Therefore, rise in demand for chocolates, and growth in use of cocoa liquor in confectionery, food & beverages, bakery, cosmetics, and pharmaceutical sector will boost the demand for the cocoa liquor.

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

Based on region, Europe contributed to the highest share in terms of revenue in 2020, holding more than two-fifths of the total market share, and is estimated to continue its dominant share by 2027. However, the Asia-Pacific region is projected to manifest the fastest CAGR of 4.6% during the forecast period.

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐢𝐧 𝐏𝐫𝐨𝐜𝐮𝐫𝐢𝐧𝐠 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐕𝐢𝐬𝐢𝐭 𝐇𝐞𝐫𝐞 : https://www.alliedmarketresearch.com/purchase-enquiry/11372

There are few factors that may hinder the growth of the global cocoa market. The most important restraint is the availability of cocoa substitutes such as carob powder, illipe, shea, sal, palm oil, and mango kernels. These substitutes are easy to manufacture and are available at lower cost. Further, the cocoa market is subject to price fluctuations. According to the International Cocoa Organization, the production cap by West African countries and unfavorable weather conditions created a gap between the demand and supply of cocoa. This will lead to rising prices of cocoa and as a result the chocolate producers may opt for cocoa substitutes. This is the constraining factor to the global cocoa market.

𝐊𝐞𝐲 𝐟𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐬𝐭𝐮𝐝𝐲

The cocoa market was valued at $12,874.0 million in 2019, and is estimated to reach $15,501.1 million by 2027, growing at a CAGR of 4.3% during the forecast period.

By product type, the cocoa liquor segment is estimated to witness the fastest growth, registering a CAGR of 4.4% during the forecast period.

In 2019, depending on the process, the Dutch process segment was valued at $9,675.2 million, accounting for 75.1% of the global cocoa market share.

In 2019, the Netherlands was the most prominent market in Europe, and is projected to reach $1,636.5 million by 2027, growing at a CAGR of 4.5% during the forecast period.

𝗧𝗿𝗲𝗻𝗱𝗶𝗻𝗴 𝗥𝗲𝗽𝗼𝗿𝘁𝘀 𝗶𝗻 𝗙𝗼𝗼𝗱 𝗮𝗻𝗱 𝗕𝗲𝘃𝗲𝗿𝗮𝗴𝗲𝘀 𝗜𝗻𝗱𝘂𝘀𝘁𝗿𝘆

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𝐀𝐛𝐨𝐮𝐭 𝐔𝐬

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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Allied Market Research
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