Cocoa Market Value with Status and Global Analysis 2022 | Future Plans and CAGR Forecast by 2026

Cocoa Market Value to Increase from US$ 10,149 Mn in 2015 to US$ 14,572 Mn by 2026 and expected to expand at a CAGR of 3.4% during the forecast period.

anshuma roy

a year ago | 2 min read

The latest market report published by Future Market Insightstitled “CocoaMarket: Global Industry Analysis 2012-2016 and Opportunity Assessment2017-2026’offers key insights on the cocoa market at a global level. In termsof value, the global cocoa market is expected to expand at a CAGR of3.4% during the forecast period.

The Cocoa Market is valued at over US$ 12.3 Billion in 2021.The market is likely to grow at a CAGR of 3.4% through 2026, reaching US$ 21.45Billion.

Increasing awareness about the health benefits associatedwith the consumption of cocoa-rich products, such as dark chocolates, isaffecting the market positively. Cocoa provides a large number of benefits. Forinstance, it decreases hypertension, reduces the indications of chronic fatiguesyndrome, provides protection against sunburn, promotes heart health etc. Thesebenefits associated with cocoa make one of the crucial drivers responsible forthe expansion and growth of the global cocoa market. Aggressive advertisementsand promotional activities by chocolate manufacturers for brand recognition isanother major driver in the cocoa market.

Chocolate producing companies are turning to advertisementsand publicity to incite people to endorse their products and thus, drive salesand improve their consumer base. Increased demand for cocoa from various foodapplications is also being witnessed. Availability of a wide variety ofchocolate flavours and different types of chocolates is resulting in growingconsumer base. These factor are contributing to overall revenue growth of thecocoa market. Manufacturers are developing and launching new and innovativevarieties, such as coated vegetables, fruits, nuts, cereals, etc., and thegrowing popularity of such varieties is increasing steadily, especially indeveloped countries.

The global cocoa market will witness high demand for organiccocoa. However, the demand for conventional cocoa will be higher during theforecast period. Difficulties faced by farmers in producing cocoa using organicfarming methods is also suppressing the production of organic cocoa. Organiccocoa worth approximately US$ 300 million will be used in a wide variety ofapplications globally by the end of 2026.

As per the report, the demand for organic cocoa butter andorganic cocoa liquor is expected to remain higher than the demand for organiccocoa powder. Naturally-processed organic cocoa will witness higher demand incomparison to Dutch processed organic cocoa. During the forecast period, amajor amount of organic cocoa produced around the globe is anticipated to beused up for the production of confectionery products, functional food products,beverages and cosmetics.

The global cocoa market for conventional cocoa will bemainly conquered by end uses, such as confectionary, functional foods,beverages and bakery items. The report also assesses that in 2016,approximately US$ 3.5 billion worth of revenue was generated from the sales ofconventional cocoa powder. Nevertheless, revenue derived from the sales ofconventional cocoa liquor will rise at the highest CAGR of 4.5%. By the end of2026, conventional cocoa products derived from Dutch processing techniques willdominate the cocoa market and bring in approximately US$ 10 billion to theglobal revenue.

Key Producers of Cocoa

Some of the major companies operating in the Cocoa marketspace are nited Cocoa Processor, Carlyle Cocoa, Blommer Chocolate Company, MarsIncorporated, Cargill Incorporated, The Hershey Company, Meiji HoldingsCompany, Ltd. and India’s Jindal Cocoa. The companies in Cocoa market arefocusing on expanding their market presence by establishing new processingfacilities to leverage their strength.

Key Segments Covered

By Nature