Growing consumer interest in sustainably sourced and ethically produced cocoa products is increasingly shaping the global cocoa beans market. As awareness of environmental and social issues surrounding cocoa production rises, consumers are prioritizing products that reflect their values regarding sustainability, fair trade, and ethical sourcing. This shift is particularly pronounced among millennials and Gen Z, who are more inclined to support brands that demonstrate a commitment to ethical practices. Sustainable cocoa production focuses on minimizing environmental impact, preserving biodiversity, and ensuring the responsible use of natural resources. This includes implementing agroforestry practices, which enhance soil health and reduce deforestation. Consumers are increasingly favoring cocoa products certified by organizations such as fair trade and rainforest alliance, as these certifications guarantee adherence to ethical and environmental standards. As a result, brands that promote sustainability in their cocoa sourcing often experience increased consumer loyalty and market share.
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Data Bridge Market Research analyzes that the Global Cocoa Beans Market is expected to reach USD 21.82 billion by 2031 from USD 12.83 billion in 2023, growing with a substantial CAGR of 6.9% in the forecast period of 2024 to 2031.
Key Findings of the Study
Increasing Demand for Chocolate Products
The increasing demand for chocolate products is a significant driver for the cocoa beans market. As consumer preferences evolve, there is a noticeable shift towards indulgent and premium chocolate products, which directly fuels the demand for high-quality cocoa beans. This trend is particularly prominent in developed regions such as North America and Europe, where consumers are willing to pay a premium for gourmet and artisanal chocolates. Moreover, the rising awareness about the health benefits associated with dark chocolate has spurred its consumption. Dark chocolate is rich in antioxidants and flavonoids, which are believed to improve cardiovascular health and reduce inflammation. This health-conscious trend has led to an increased demand for cocoa beans with higher cocoa content, which are essential for manufacturing dark chocolate.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2024 to 2031
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Base Year
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2023
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Historic Years
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2022 (Customizable to 2016-2021)
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Quantitative Units
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Revenue in USD Billion
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Segments Covered
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Cocoa Bean Type (Forastero Cocoa Bean, Trinitario Cocoa Bean, and Criollo Cocoa Bean), Product Type (Roasted Cocoa Bean and Unroasted Cocoa Bean), Nature (Conventional and Organic) Application (Food, Beverages, Personal Care & Cosmetics, Dietary Supplements, Pharmaceutical, Sports Nutrition, and Others)
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Country Covered
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Germany, U.K., France, Italy, Spain, Russia, Turkey, Netherlands, Belgium, Switzerland, Rest of Europe, China, India, Japan, Australia, South Korea, Indonesia, Thailand, Malaysia, Philippines, Singapore, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, U.A.E, Kuwait, Rest of Middle East and Africa, U.S., Canada, and Mexico
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Market Players Covered
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Olam International Limited (Singapore), MABCO (Netherlands), Meridian Cacao Co (U.S.), Costa Esmeraldas Cacao Co. (U.S.), SUCDEN (U.K.), ECOM Agroindustrial Corp. Limited. (Switzerland), Cacaitos (Netherlands), Cocoabean (U.S.), Pappa's Heritage (Ghana), TWIN TRACK COCOA PRODUCTS INTERNATIONAL (Ghana) among others
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, pricing analysis, brand share analysis, consumer survey, demography analysis, supply chain analysis, value chain analysis, raw material/consumables overview, vendor selection criteria, PESTLE Analysis, Porter Analysis, and regulatory framework.
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Segment Analysis
The global cocoa beans market is segmented into four notable segments based on cocoa bean type, product type, nature, and application.
- On the basis of cocoa bean type, the market is segmented into forastero cocoa bean, trinitario cocoa bean, and criollo cocoa bean
In 2024, the forastero cocoa bean segment is expected to dominate the global cocoa beans market
In 2024, the forastero cocoa bean segment is expected to dominate the market with a market share of 80.48% due to their higher yield, disease resistance, and cost-effectiveness, making them the preferred choice for mass production in major cocoa-growing regions.
- On the basis of product type, the market is segmented into roasted cocoa bean, unroasted cocoa bean.
In 2024, the roasted cocoa bean segment is expected to dominate the global cocoa beans market
In 2024, the roasted cocoa bean segment is expected to dominate the market with a market share of 85.61% due to their widespread use in chocolate production, enhanced flavor profile, and high demand from confectionery and food processing industries.
- On the basis of nature the market is segmented into conventional and organic. In 2024, the conventional segment is expected to dominate the market with a market share of 71.66%
- On the basis of application the market is segmented into food, beverages, personal care & cosmetics, dietary supplements, pharmaceutical, sports nutrition, and others. In 2024, the food segment is expected to dominate the market with a market share of 42.34%
Major Players
Data Bridge Market Research analyses Olam International Limited (Singapore), SUCDEN (U.K.), ECOM Agroindustrial Corp. Limited. (Switzerland), Costa Esmeraldas Cacao Co. (U.S.), Meridian Cacao Co (U.S.), as the major market players operating in the market.
Market Developments
- In February 2024, ECOM Agroindustrial Corp. Limited. announced its strategic commitment to achieving net-zero emissions by 2030, aligning with global sustainability goals. This initiative underscores Ecom’s dedication to reducing its carbon footprint across its supply chain, focusing on sustainable practices and innovative solutions. The company plans to implement advanced technologies and processes to enhance operational efficiency while minimizing environmental impact. By prioritizing sustainability, Ecom aims to contribute positively to the environment and promote responsible sourcing in the agricultural commodities market. This move positions Ecom as a leader in the industry, emphasizing the importance of corporate responsibility in addressing climate change
Regional Analysis
Geographically, the countries covered in the global cocoa beans market report Germany, U.K., France, Italy, Spain, Russia, Turkey, Netherlands, Belgium, Switzerland, rest of Europe, China, India, Japan, Australia, South Korea, Indonesia, Thailand, Malaysia, Philippines, Singapore, rest of Asia-Pacific, Brazil, Argentina, rest of South America, South Africa, Saudi Arabia, U.A.E, Kuwait, rest of Middle East and Africa, U.S., Canada, and Mexico.
As per Data Bridge Market Research analysis:
Europe is expected to be the dominant and fastest growing region in the global cocoa beans market
Europe is expected to be the dominant and fastest growing region due to factors like rising shift towards veganism and flexitarian diets and increasing awareness and consciousness towards health benefits of plant-based diets.
As per Data Bridge Market Research analysis:
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