The Global Cocoa and Chocolate Market was worth 3.32 billion in 2016 and estimated to be growing at a CAGR of 2.28%, to reach 8.03 billion by 2021. The market is showcasing huge potential in the mentioned forecasting period. Chocolate is mainly classified by the amount of cocoa it contains. Chocolate is considered as “dark chocolate” if it contains more than 60% cocoa. Milk chocolates account for about 50% of all chocolate consumption but they, in general, contain as little as 10% cocoa.
Global Cocoa and Chocolate Market will reach USD 138.03 billion by 2021
Powerful local and global growth in demand is unevenly matched against an unpredictable and unstable supply. But chocolate consumers happen to be quite price insensitive. Except in very rare circumstances consumers are willing to purchase cocoa product at any given prices. The huge demand for chocolate and cocoa in confectionery and food and beverage industries majorly drives the market. The health benefits of cocoa and chocolate in pharmaceuticals and cosmetics has enough evidence to back manufacturers to consider using such ingredients.
Europe is the leading consumer of cocoa, followed by North America. Also, Europe is a major processor of cocoa in the global market and is forecasted to grow at the highest rate. However, the overall cocoa and chocolate industry in the European region has become stagnant and saturated over the last few years. Consumer awareness pertaining to health benefits of cocoa has led to some of the important innovations in the North American cocoa and chocolate industry.
Some of the major companies dominating the market, by their products and services include ADM, Cargill, Bunge, Barry Callebaut, Indcresa, Blommer and JB Foods Limited, Plot Ghana, Dutch Cocoa and Cocoa Processing Company Limited.
Global Cocoa and Chocolate Market Segmentation:
By Chocolate Type: Dark Chocolate, Milk Chocolate, White Chocolate and Filled Chocolate
By Cocoa Type: Cocoa Butter, Cocoa Liquor and Cocoa Powder
By Application: Cosmetics, Pharmaceuticals, Food & Beverage and Confectionery
By Geography: North America, Europe, APAC, Latin America and Middle East & Africa
Key Players: ADM, Cargill, Bunge, Barry Callebaut, Indcresa, Blommer and JB Foods Limited, Plot Ghana, Dutch Cocoa and Cocoa Processing Company Limited.
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Scope of the report:
Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development
A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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rohan Joined: September 20th, 2017 Articles Posted: 1,346