GLOBAL COCOA MARKET 2021-2028

Consumer Goods & Services | Food & Beverages

GLOBAL COCOA MARKET 2021-2028

Market by Process, Quality, Product, Type, End-user, and Geography | Forecast 2021-2028

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Cocoa is a major cash crop of the tropical region extensively used for its beans to manufacture chocolate. As per Triton Market Research, the global cocoa market was valued at $11.707 billion in 2020 and is expected to reach $16.709 billion by 2028, growing at a CAGR of 4.11% during the forecast period 2021-2028.


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Triton’s research report on the cocoa market provides an in-depth insight into the market. The detailed analysis of the market includes key insights, Porter’s five force analysis, market attractiveness index, vendor scorecard, key strategies, and impact of covid-19 on the market.

The market is driven by several factors, such as the rise in demand for chocolate and consumer awareness regarding the health benefits of chocolates. Here, the changing lifestyle of consumers is another factor driving the demand for cocoa products. Chocolates with high cocoa content are now considered healthy treats because of their nutritional benefits. The overall change in consumer food habits and increase in the intake of healthy ingredients increases demand for chocolates, especially dark chocolates.

Further, bean-to-bar chocolates are one of the major trends in the cocoa market. Different growth opportunities in the market include factors such as cocoa powder color trends, single-origin cocoa, and ruby cocoa chocolates. Moreover, the influence of western food plays an important role, creating affluent opportunities for the cocoa market.

Conversely, the market is negatively affected due to low productivity and price fluctuations of cocoa. Cocoa farming is labor intensive, with low productivity caused by poor farming techniques, economic and social issues, and lack of knowledge to improve production. Moreover, environmental and political issues also affect the overall cocoa production hindering the global market’s growth.



Key geographies covered in the global cocoa market are:

•           North America: United States and Canada

•           Europe: United Kingdom, France, Germany, Spain, Italy, Russia and Rest of Europe

•           Asia-Pacific: China, Japan, India, Australia & New Zealand, South Korea, ASEAN Countries and Rest of Asia-Pacific

•           Latin America: Brazil, Mexico, and Rest of Latin America

•           Middle East and Africa: Saudi Arabia, Turkey, United Arab Emirates, South Africa, and Rest of Middle East & Africa

The segmentation analysis of the cocoa market includes:

•           Process segment includes:

           o          Dutch-Process

           o          Natural Process

•           Quality segment includes:

           o          Bulk

           o          Specialty

           o          Fine Flavor

•           Product segment includes:

           o          Cocoa Liquor

           o          Cocoa Powder

           o          Cocoa Butter

•           Type segment includes:

           o          Conventional

           o          Organic

•           End-user segment includes:

           o          Confectionery

           o          Food & Beverages

           o          Bakery

           o          Other End-users

The key companies competing in the cocoa market include Meiji Holdings Co Ltd, Nestle SA, Guan Chong Berhad, The Hershey Company, Archer Daniels Midland, Cargill Incorporated, Barry Callebaut AG, Natra SA, Lindt and Sprüngli AG, Olam International Limited, Puratos Group, Ferrero Group, Blommer Chocolate Company, Touton SA, and Mondelez International.  

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Table of Content

1. GLOBAL COCOA MARKET - SUMMARY

2. INDUSTRY OUTLOOK

2.1. IMPACT OF COVID-19 ON COCOA MARKET

2.2. KEY INSIGHTS

2.2.1. INFLUENCE OF WESTERN FLAVORS

2.2.2. COCOA POWDER COLOR TRENDS

2.2.3. SINGLE-ORIGIN COCOA AND CHOCOLATES

2.3. PORTER’S FIVE FORCES ANALYSIS

2.3.1. THREAT OF NEW ENTRANTS

2.3.2. THREAT OF SUBSTITUTES

2.3.3. BARGAINING POWER OF BUYERS

2.3.4. BARGAINING POWER OF SUPPLIERS

2.3.5. THREAT OF COMPETITIVE RIVALRY

2.4. MARKET ATTRACTIVENESS INDEX

2.5. VENDOR SCORECARD

2.6. KEY MARKET STRATEGIES

2.6.1. ACQUISITIONS

2.6.2. PRODUCT DEVELOPMENTS

2.6.3. CONTRACTS & AGREEMENTS

2.6.4. INVESTMENT & EXPANSIONS

2.7. MARKET DRIVERS

2.7.1. RISE IN DEMAND FOR CHOCOLATE

2.7.2. HEALTH BENEFITS OF COCOA

2.8. MARKET CHALLENGES

2.8.1. LOW PRODUCTIVITY

2.8.2. PRICE FLUCTUATIONS OF COCOA

2.9. MARKET OPPORTUNITIES

2.9.1. RUBY COCOA BEANS

2.9.2. BEAN-TO-BAR CHOCOLATE

3. GLOBAL COCOA MARKET OUTLOOK - BY PROCESS

3.1. DUTCH-PROCESS

3.2. NATURAL PROCESS

4. GLOBAL COCOA MARKET OUTLOOK – BY QUALITY

4.1. BULK

4.2. SPECIALTY

4.3. FINE FLAVOR

5. GLOBAL COCOA MARKET OUTLOOK – BY PRODUCT

5.1. COCOA LIQUOR

5.2. COCOA POWDER

5.3. COCOA BUTTER

6. GLOBAL COCOA MARKET OUTLOOK – BY TYPE

6.1. CONVENTIONAL

6.2. ORGANIC

7. GLOBAL COCOA MARKET OUTLOOK – BY END-USER

7.1. CONFECTIONERY

7.2. FOOD & BEVERAGES

7.3. BAKERY

7.4. OTHER END-USERS

8. GLOBAL COCOA MARKET – REGIONAL OUTLOOK

8.1. NORTH AMERICA

8.1.1. MARKET BY PROCESS

8.1.2. MARKET BY QUALITY

8.1.3. MARKET BY PRODUCT

8.1.4. MARKET BY TYPE

8.1.5. MARKET BY END-USER

8.1.6. COUNTRY ANALYSIS

8.1.6.1. UNITED STATES

8.1.6.2. CANADA

8.2. EUROPE

8.2.1. MARKET BY PROCESS

8.2.2. MARKET BY QUALITY

8.2.3. MARKET BY PRODUCT

8.2.4. MARKET BY TYPE

8.2.5. MARKET BY END-USER

8.2.6. COUNTRY ANALYSIS

8.2.6.1. UNITED KINGDOM

8.2.6.2. GERMANY

8.2.6.3. FRANCE

8.2.6.4. SPAIN

8.2.6.5. ITALY

8.2.6.6. RUSSIA

8.2.6.7. REST OF EUROPE

8.3. ASIA-PACIFIC

8.3.1. MARKET BY PROCESS

8.3.2. MARKET BY QUALITY

8.3.3. MARKET BY PRODUCT

8.3.4. MARKET BY TYPE

8.3.5. MARKET BY END-USER

8.3.6. COUNTRY ANALYSIS

8.3.6.1. CHINA

8.3.6.2. JAPAN

8.3.6.3. INDIA

8.3.6.4. SOUTH KOREA

8.3.6.5. ASEAN COUNTRIES

8.3.6.6. AUSTRALIA & NEW ZEALAND

8.3.6.7. REST OF ASIA-PACIFIC

8.4. LATIN AMERICA

8.4.1. MARKET BY PROCESS

8.4.2. MARKET BY QUALITY

8.4.3. MARKET BY PRODUCT

8.4.4. MARKET BY TYPE

8.4.5. MARKET BY END-USER

8.4.6. COUNTRY ANALYSIS

8.4.6.1. BRAZIL

8.4.6.2. MEXICO

8.4.6.3. REST OF LATIN AMERICA

8.5. MIDDLE EAST AND AFRICA

8.5.1. MARKET BY PROCESS

8.5.2. MARKET BY QUALITY

8.5.3. MARKET BY PRODUCT

8.5.4. MARKET BY TYPE

8.5.5. MARKET BY END-USER

8.5.6. COUNTRY ANALYSIS

8.5.6.1. UNITED ARAB EMIRATES

8.5.6.2. SAUDI ARABIA

8.5.6.3. TURKEY

8.5.6.4. SOUTH AFRICA

8.5.6.5. REST OF MIDDLE EAST & AFRICA

9. COMPETITIVE LANDSCAPE

9.1. CARGILL INCORPORATED

9.2. MEIJI HOLDINGS CO LTD

9.3. NESTLE SA

9.4. PURATOS GROUP

9.5. OLAM INTERNATIONAL LIMITED

9.6. GUAN CHONG BERHAD

9.7. BARRY CALLEBAUT AG

9.8. NATRA SA

9.9. BLOMMER CHOCOLATE COMPANY

9.10. THE HERSHEY COMPANY

9.11. MONDELEZ INTERNATIONAL

9.12. FERRERO GROUP

9.13. LINDT AND SPRÜNGLI AG      

9.14. ARCHER DANIELS MIDLAND

9.15. TOUTON SA

10. RESEARCH METHODOLOGY & SCOPE

10.1. RESEARCH SCOPE & DELIVERABLES

10.2. SOURCES OF DATA

        10.3. RESEARCH METHODOLOGY

List of Tables

TABLE 1: GLOBAL COCOA MARKET, BY GEOGRAPHY, 2021-2028 (IN $ MILLION)

TABLE 2: VENDOR SCORECARD

TABLE 3: LIST OF ACQUISITIONS

TABLE 4: LIST OF PRODUCT DEVELOPMENTS

TABLE 5: LIST OF CONTRACTS & AGREEMENTS

TABLE 6: LIST OF INVESTMENT & EXPANSIONS

TABLE 7: THE TOP 10 COCOA PRODUCING COUNTRIES IN 2021

TABLE 8: GLOBAL COCOA MARKET, BY PROCESS, 2021-2028 (IN $ MILLION)

TABLE 9: GLOBAL COCOA MARKET, BY QUALITY, 2021-2028 (IN $ MILLION)

TABLE 10: GLOBAL COCOA MARKET, BY PRODUCT, 2021-2028 (IN $ MILLION)

TABLE 11: GLOBAL COCOA MARKET, BY TYPE, 2021-2028 (IN $ MILLION)

TABLE 12: GLOBAL COCOA MARKET, BY END-USER, 2021-2028 (IN $ MILLION)

TABLE 13: GLOBAL COCOA MARKET, BY GEOGRAPHY, 2021-2028 (IN $ MILLION)

TABLE 14: NORTH AMERICA COCOA MARKET, BY COUNTRY, 2021-2028 (IN $ MILLION)

TABLE 15: NORTH AMERICA COCOA MARKET, BY PROCESS, 2021-2028 (IN $ MILLION)

TABLE 16: NORTH AMERICA COCOA MARKET, BY QUALITY, 2021-2028 (IN $ MILLION)

TABLE 17: NORTH AMERICA COCOA MARKET, BY PRODUCT, 2021-2028 (IN $ MILLION)

TABLE 18: NORTH AMERICA COCOA MARKET, BY TYPE, 2021-2028 (IN $ MILLION)

TABLE 19: NORTH AMERICA COCOA MARKET, BY END-USER, 2021-2028 (IN $ MILLION)

TABLE 20: EUROPE COCOA MARKET, BY COUNTRY, 2021-2028 (IN $ MILLION)

TABLE 21: EUROPE COCOA MARKET, BY PROCESS, 2021-2028 (IN $ MILLION)

TABLE 22: EUROPE COCOA MARKET, BY QUALITY, 2021-2028 (IN $ MILLION)

TABLE 23: EUROPE COCOA MARKET, BY PRODUCT, 2021-2028 (IN $ MILLION)

TABLE 24: EUROPE COCOA MARKET, BY TYPE, 2021-2028 (IN $ MILLION)

TABLE 25: EUROPE COCOA MARKET, BY END-USER, 2021-2028 (IN $ MILLION)

TABLE 26: ASIA-PACIFIC COCOA MARKET, BY COUNTRY, 2021-2028 (IN $ MILLION)

TABLE 27: ASIA-PACIFIC COCOA MARKET, BY PROCESS, 2021-2028 (IN $ MILLION)

TABLE 28: ASIA-PACIFIC COCOA MARKET, BY QUALITY, 2021-2028 (IN $ MILLION)

TABLE 29: ASIA-PACIFIC COCOA MARKET, BY PRODUCT, 2021-2028 (IN $ MILLION)

TABLE 30: ASIA-PACIFIC COCOA MARKET, BY TYPE, 2021-2028 (IN $ MILLION)

TABLE 31: ASIA-PACIFIC COCOA MARKET, BY END-USER, 2021-2028 (IN $ MILLION)

TABLE 32: LATIN AMERICA COCOA MARKET, BY COUNTRY, 2021-2028 (IN $ MILLION)

TABLE 33: LATIN AMERICA COCOA MARKET, BY PROCESS, 2021-2028 (IN $ MILLION)

TABLE 34: LATIN AMERICA COCOA MARKET, BY QUALITY, 2021-2028 (IN $ MILLION)

TABLE 35: LATIN AMERICA COCOA MARKET, BY PRODUCT, 2021-2028 (IN $ MILLION)

TABLE 36: LATIN AMERICA COCOA MARKET, BY TYPE, 2021-2028 (IN $ MILLION)

TABLE 37: LATIN AMERICA COCOA MARKET, BY END-USER, 2021-2028 (IN $ MILLION)

TABLE 38: MIDDLE EAST AND AFRICA COCOA MARKET, BY COUNTRY, 2021-2028 (IN $ MILLION)

TABLE 39: MIDDLE EAST AND AFRICA COCOA MARKET, BY PROCESS, 2021-2028 (IN $ MILLION)

TABLE 40: MIDDLE EAST AND AFRICA COCOA MARKET, BY QUALITY, 2021-2028 (IN $ MILLION)

TABLE 41: MIDDLE EAST AND AFRICA COCOA MARKET, BY PRODUCT, 2021-2028 (IN $ MILLION)

TABLE 42: MIDDLE EAST AND AFRICA COCOA MARKET, BY TYPE, 2021-2028 (IN $ MILLION)

TABLE 43: MIDDLE EAST AND AFRICA COCOA MARKET, BY END-USER, 2021-2028 (IN $ MILLION)

List of Figures

FIGURE 1: MARKET ATTRACTIVENESS INDEX

FIGURE 2: GLOBAL COCOA MARKET, BY PROCESS, 2020 & 2028 (IN %)

FIGURE 3: GLOBAL COCOA MARKET, BY DUTCH-PROCESS, 2021-2028 (IN $ MILLION)

FIGURE 4: GLOBAL COCOA MARKET, BY NATURAL PROCESS, 2021-2028 (IN $ MILLION)

FIGURE 5: GLOBAL COCOA MARKET, BY QUALITY, 2020 & 2028 (IN %)

FIGURE 6: GLOBAL COCOA MARKET, BY BULK, 2021-2028 (IN $ MILLION)

FIGURE 7: GLOBAL COCOA MARKET, BY SPECIALTY, 2021-2028 (IN $ MILLION)

FIGURE 8: GLOBAL COCOA MARKET, BY FINE FLAVOR, 2021-2028 (IN $ MILLION)

FIGURE 9: GLOBAL COCOA MARKET, BY PRODUCT, 2020 & 2028 (IN %)

FIGURE 10: GLOBAL COCOA MARKET, BY COCOA LIQUOR, 2021-2028 (IN $ MILLION)

FIGURE 11: GLOBAL COCOA MARKET, BY COCOA POWDER, 2021-2028 (IN $ MILLION)

FIGURE 12: GLOBAL COCOA MARKET, BY COCOA BUTTER, 2021-2028 (IN $ MILLION)

FIGURE 13: GLOBAL COCOA MARKET, BY TYPE, 2020 & 2028 (IN %)

FIGURE 14: GLOBAL COCOA MARKET, BY CONVENTIONAL, 2021-2028 (IN $ MILLION)

FIGURE 15: GLOBAL COCOA MARKET, BY ORGANIC, 2021-2028 (IN $ MILLION)

FIGURE 16: GLOBAL COCOA MARKET, BY END-USER, 2020 & 2028 (IN %)

FIGURE 17: GLOBAL COCOA MARKET, BY CONFECTIONERY, 2021-2028 (IN $ MILLION)

FIGURE 18: GLOBAL COCOA MARKET, BY FOOD & BEVERAGES, 2021-2028 (IN $ MILLION)

FIGURE 19: GLOBAL COCOA MARKET, BY BAKERY, 2021-2028 (IN $ MILLION)

FIGURE 20: GLOBAL COCOA MARKET, BY OTHER END-USERS, 2021-2028 (IN $ MILLION)

FIGURE 21: GLOBAL COCOA MARKET, REGIONAL OUTLOOK, 2020 & 2028 (IN %)

FIGURE 22: UNITED STATES COCOA MARKET 2021-2028 (IN $ MILLION)

FIGURE 23: CANADA COCOA MARKET 2021-2028 (IN $ MILLION)

FIGURE 24: UNITED KINGDOM COCOA MARKET 2021-2028 (IN $ MILLION)

FIGURE 25: GERMANY COCOA MARKET 2021-2028 (IN $ MILLION)

FIGURE 26: FRANCE COCOA MARKET 2021-2028 (IN $ MILLION)

FIGURE 27: SPAIN COCOA MARKET 2021-2028 (IN $ MILLION)

FIGURE 28: ITALY COCOA MARKET 2021-2028 (IN $ MILLION)

FIGURE 29: RUSSIA COCOA MARKET 2021-2028 (IN $ MILLION)

FIGURE 30: REST OF EUROPE COCOA MARKET 2021-2028 (IN $ MILLION)

FIGURE 31: CHINA COCOA MARKET 2021-2028 (IN $ MILLION)

FIGURE 32: JAPAN COCOA MARKET 2021-2028 (IN $ MILLION)

FIGURE 33: INDIA COCOA MARKET 2021-2028 (IN $ MILLION)

FIGURE 34: SOUTH KOREA COCOA MARKET 2021-2028 (IN $ MILLION)

FIGURE 35: ASEAN COUNTRIES COCOA MARKET 2021-2028 (IN $ MILLION)

FIGURE 36: AUSTRALIA & NEW ZEALAND COCOA MARKET 2021-2028 (IN $ MILLION)

FIGURE 37: REST OF ASIA-PACIFIC COCOA MARKET 2021-2028 (IN $ MILLION)

FIGURE 38: BRAZIL COCOA MARKET 2021-2028 (IN $ MILLION)

FIGURE 39: MEXICO COCOA MARKET 2021-2028 (IN $ MILLION)

FIGURE 40: REST OF LATIN AMERICA COCOA MARKET 2021-2028 (IN $ MILLION)

FIGURE 41: UNITED ARAB EMIRATES COCOA MARKET 2021-2028 (IN $ MILLION)

FIGURE 42: SAUDI ARABIA COCOA MARKET 2021-2028 (IN $ MILLION)

FIGURE 43: TURKEY COCOA MARKET 2021-2028 (IN $ MILLION)

FIGURE 44: SOUTH AFRICA COCOA MARKET 2021-2028 (IN $ MILLION)

FIGURE 45: REST OF MIDDLE EAST & AFRICA COCOA MARKET 2021-2028 (IN $ MILLION)

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