Cocoa is presently grown in practically every tropical location, from West and Central Africa to Asia and Oceania. It originated in Latin America. Cocoa seeds are widely used to manufacture cocoa butter, cocoa liquor, and cocoa powder, among many other things. The increasing consciousness of health benefits associated with the utilization of cocoa-rich products pushes the growth of the cocoa products market. It has been witnessed that Cote d'Ivoire is the largest of the cocoa-producing regions that produces just more than 30 % of the world's cocoa. It is followed by Ghana and Indonesia which altogether supply just under 35 % of the global cocoa output.
According to Data Bridge Market Research the Europe Cocoa Products Market was valued at USD 11369.44 million in 2021 and is expected to reach the value of USD 18258.38 million by 2029, at a CAGR of 6.1% during the forecast period of 2022 to 2029.
“Growing Awareness about Benefits of Cocoa Products”
The market for cocoa products is increasing as people are becoming more aware of the health benefits of eating cocoa-rich foods. Cocoa helps in the reduction of hypertension, the increasing cases of chronic fatigue syndrome, the prevention of sunburn, and a number of other health benefits to the human body. Polyphenols in cocoa help to protect the body's tissues against oxidative stress and associated diseases, including cancer and inflammation. These reasons are also boosting the market for cocoa products to grow.
What restraints the growth of Europe Cocoa Products Market?
“Side Effects of Cocoa”
Cocoa is made up of caffeine and associated chemicals. Thus, eating large amounts might lead to caffeine-related side effects such as a fast heartbeat, nervousness, increased urination, and sleeplessness. Furthermore, cocoa can also cause allergic skin reactions, and constipation and also instigate migraine headaches. It can also lead to digestive complaints, including intestinal discomfort, nausea, and other stomach-associated issues that act as a major hindrance and reduce the growth of the cocoa products market.
Segmentation: Europe Cocoa Products Market
The Europe cocoa products market is segmented on the basis of type of cocoa, product type, source, application and distribution channel.
- On the basis of type of cocoa, the Europe cocoa products market is segmented into forastero cocoa, trinitario cocoa, criollo cocoa.
- Based on product type, the Europe cocoa products market is segmented into cocoa beans, cocoa butter, cocoa powder & cake, cocoa liquor & paste, cocoa nibs, others.
- On the basis of source, the Europe cocoa products market is segmented into inorganic, organic.
- Based on application, the Europe cocoa products market is segmented into food & beverages, personal care & cosmetics, dietary supplements, others.
- On the basis of source, the Europe cocoa products market is segmented into direct, indirect
Regional Insights: Germany is expected to dominate the Europe Cocoa Products Market
- In Europe, Germany has the largest market share because of the extensive use of cocoa products in industrial applications. For instance, Mondelez International, Nestle, and Lindt & Sprüngli, three of the world's largest confectionery companies, widely use cocoa products to manufacture chocolates containing roasted cocoa beans.
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Recent Developments in Europe Cocoa Products Market
- In 2021, Barry Callebaut AG acquired Europe Chocolate Company (ECC). It is a Belgian privately-owned B2B manufacturer of chocolate specialties and decorations. The Europe Chocolate Company manufactures a huge range of industrial specialty chocolate and immense decorations in several taste and color variations, including curls, chunks, leaves, batons, and shavings.
- In 2019, Olam acquired BT Cocoa with the aim to capitalize on Asia’s trajectory to become the largest global consumer of cocoa powder. Additionally, it is Indonesia’s largest cocoa processor
- In 2015, the Hershey Company started sourcing cocoa certified by the Rainforest Alliance for four of its cocoa brands that uses cocoa as a primary ingredient.
The Prominent Key Players Operating in the Europe Cocoa Products Market Include:
- Cemoi Chocolatier (France)
- Nestlé S.A. (Switzerland)
- Mars Incorporated (U.S.)
- Fuji Oil Holdings Inc. (Japan)
- Guittard Chocolate Co. (U.S.)
- Ghirardelli Chocolate Co. (U.S.)
- Varihona Inc. (France)
- Barry Callebaut AG (Switzerland)
- Alpezzi Chocolate SA De CV (Mexico)
- Kerry Group Plc (Ireland)
- Olam International Ltd. (Singapore)
- Tcho Ventures Inc. (U.S.)
- The Hershey Company (U.S.)
- Cargill, Incorporated (U.S.)
- Blommer Chocolate Company (U.S.)
- Foley's Candies LP (Canada)
- Puratos Group Nv (Belgium)
- Ferrero International S.A. (Italy)
Above are the key players covered in the report, to know about more and exhaustive list of Europe cocoa products market companies contact, https://www.databridgemarketresearch.com/ar/contact
Research Methodology: Global Europe Cocoa Products Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
