Global Cocoa Beans Market – Industry Trends and Forecast to 2029

Cocoa Beans Market Analysis and Size

Cocoa is a product obtained by processing the cacao tree's seeds. Cocoa originated in Latin America, but it is now grown in almost every tropical region, from West and Central Africa to Asia and Oceania. Cocoa seeds are used to make a variety of beans, including cocoa liquor, cocoa butter, and cocoa powder.

Data Bridge Market Research analyses that the cocoa beans market was valued at USD 12400.67 million in 2021 and is expected to reach the value of USD 22952.77 million by 2029, at a CAGR of 8.00% during the forecast period of 2022 to 2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, patent analysis and consumer behaviour.

Market Definition

Cocoa beans are used to make cocoa. It is a highly concentrated powder that is used as a flavouring ingredient in beverages. It is the main ingredient in chocolate and bakery confections. Cocoa powders, chocolate liquor, and blends are product forms of cocoa that are used to flavour various food beans such as syrups, toppings, chocolate milk, prepared cake mixes, pharmaceuticals, and cookies.

Cocoa Beans Market Scope and Segmentation

Cocoa Beans Market Dynamics

Drivers

• Growing awareness about benefits of cocoa beans

The growing awareness of the health benefits of consuming cocoa-rich beans drives the growth of the cocoa beans market. Cocoa helps reduce hypertension, chronic fatigue syndrome, protection against sunburn, and other health benefits to the human body. Cocoa is also high in polyphenols, which help to protect the body's tissues from oxidative stress and related pathologies like cancer and inflammation. These factors are also driving the expansion of the cocoa beans market.

• Growing demand for cocoa based products

Increased demand for chocolate and related beans such as milk chocolate, sweet chocolate, and dark chocolate, as well as aggressive advertising by manufacturers to increase brand recognition, are driving the growth of the cocoa beans market. Improvements in commercial farming techniques are used to produce cocoa, which is expected to increase supply and thus improve growth prospects in the future.

Opportunity

Theobromine, found in cocoa powder, aids in inflammation reduction and protects against severe diseases. Since cocoa contains a high concentration of phytonutrients while being low in fat and sugar, the calories obtained from cocoa powder are rich in beneficial compounds as they are made from agitated, dried, unroasted cacao beans, raw beans are often less processed and healthier. Nonetheless, typical dark chocolate containing at least 70% cacao is a good source of antioxidants and minerals, creating a huge market opportunity.

Restraints

The market's growth is hampered by volatile cocoa prices and limited cocoa production. Cacao beans, such as unsweetened cocoa powder, nibs, and dark chocolate, are high in minerals. Raw cacao goods that have been minimally processed contain less or no added sugar and are higher in antioxidants than those that have been heavily processed, which is impeding market growth.

This cocoa beans market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the cocoa beans market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Cocoa Beans Market

Low sales volumes due to the COVID-19 pandemic and supply-side issues related to quality and certification impacted the cocoa market. In terms of exports, the Fine Cacao and Chocolate Institute (FCCI) conducted a survey on the impact of the COVID-19 pandemic, which yielded some troubling results. According to reports in the Dominican Republic, the drastic lockdown imposed prevented producers and agricultural workers from going to the plantations for several weeks until the authorities granted exceptions. Thus, disruption in the raw material supply chain, followed by lockdown, results in an increasing number of specialty stores remaining closed for an extended period, and decreased volume consumption of premium chocolates.

Recent developments

• Barry Callebaut has supended the global cocoa bean market's competitive landscape. The company recently launched the first chocolate made entirely from cacao fruit. This factor is expected to boost demand in the global cocoa bean market in the coming years.
• Southeast Asia's demand for cocoa beans has grown by leaps and bounds. However, the region's cocoa farmers are falling short of the product's ever-increasing demand. As a result, the global cocoa bean market is expected to see increased international trade in the coming years.

Global Cocoa Beans Market Scope

The cocoa beans market is segmented on the basis of application, product, type, distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• Criollo Cocoa Beans
• Forastero Cocoa Beans
• Trinitario Cocoa Beans
• Beauty Beans

Product type

• Cocoa butter
• Cocoa powder
• Cocoa liquor

Application

• Cosmetics
• Confectionery
• Pharmaceuticals
• Functional Food
• Beverages

Distribution channel

• Online
• Offline

Cocoa Beans Market Regional Analysis/Insights

The cocoa beans market is analysed and market size insights and trends are provided by country, application, product, type, distribution channel as referenced above.

The countries covered in the cocoa beans market report are U.S., Canada, Mexico, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, U.A.E, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa.

European region has the largest market share in the global cocoa beans market, followed by North America, Asia-Pacific, the Middle East and Africa, and South America. Germany has the largest market share in Europe due to the widespread use of cocoa beans in industrial applications. For example, Mondelez International, Nestle, and Lindt & Sprüngli, three of the world's largest confectionery companies, use cocoa beans to make chocolates containing roasted cocoa beans. However, in North America, the United States has occupied the largest market share due to the consumption of cocoa beans and butter used in the food and beverage sector and the preference of coffee flavour among American consumers.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Cocoa Beans Market Share Analysis

The cocoa beans market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to cocoa beans market.

Some of the major players operating in the cocoa beans market are:

• Cemoi Chocolatier (France)
• Republica del Cacao (Ecuador)
• Nestlé S.A. (Switzerland)
• Mars Incorporated (U.S.)
• Fuji Oil Holdings Inc. (Japan)
• Guittard Chocolate Company (U.S.)
• Ghirardelli Chocolate Company (U.S.)
• Valrhona (France)
• Barry Callebaut (Switzerland)
• Alpezzi Chocolate (Mexico)
• Kerry (Ireland)
• Olam Group (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 (Belgium), Ferrero (Italy)

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