Global Cocoa market: Overview
Cocoa is a fatty bean obtained from the plant, Theobroma cocoa. This plant seed is dried and fermented, and subsequently processed further to extract cocoa powder, cocoa oil, cocoa butter, cocoa liqueur and other solids. The demand for cocoa is set to increase due to its use in chocolate, primarily. However, note that Cocoa beans are not only demanded for their unique flavor, but also because they are known to have high flavonoid concentrations, which are known to be beneficial to people with cardiovascular problems.
As per TMRR, the market would grow at a sturdy growth rate, compounded annually, pushing forward lucrative growth opportunities for market players. Another outcome into which the growth would translate to is a higher valuation of the global cocoa market.
Global Cocoa Market: Notable Developments
Major players in the cocoa market are inclined towards sustainability and certification for their cocoa products. Players’ focus on new product development for portfolio diversification and tapping into new consumer bases has also been noted in the past. Certain examples of the same are cited below:
Prominent players in the cocoa market include-
Global Cocoa market: Key Trends and Drivers
The cocoa market is largely driven by the increasing demand for chocolate and chocolate coatings around the world. Some of the most popular products where cocoa is utilized are sweet chocolate, dark chocolate, drinking chocolate, milk chocolate, and baking chocolate.
However, health concerns related to high sugar-content utilized world over in most cocoa-based products are expected to hamper the market’s growth to certain extent. Demand for organic products is gaining traction with consumers seeking to avoid consumption of harmful chemicals.
The increasing consumption of chocolate confectionary is strongly linked to the affordability of consumers. As the disposable income of consumers increase in the world’s advanced economies and the per capita income of consumers in emerging nations continue to rise, particularly in Africa, and Asia Pacific, cocoa consumption seems set to increase in the future.
Global Cocoa market: Regional Analysis
Cocoa beans are produced in tropical zones around the Equator, where climatic conditions are well suited for growing cocoa trees. About 70 percent of the world’s cocoa beans come from four African countries: Ivory Coast, Ghana, Nigeria and Cameroon. Cocoa is also considered to be one of the most important cash crops by the farmers in regions such as Africa, Latin America and South East Asia. Among the South East Asian countries, Indonesia is a major producer of cocoa.
Cocoa Market Segments:
By Product Type
By Application
The reports at TMR Research provide qualitative solutions that break the barriers of doubt or uncertainties when the stakeholders plan to expand their growth reach. The researchers compile the necessary information that enlightens the CXOs about the current growth opportunities in a specific market and enables them to make the most of the opportunities.
TMR Research is a leader in developing well-researched reports. The expertise of the researchers at TMR Research makes the report stand out from others. TMR Research reports help the stakeholders and CXOs make impactful decisions through a unique blend of innovation and analytical thinking. The use of innovation and analytical thinking while structuring a report assures complete and ideal information of the current status of the market to the stakeholders.
TMR Research has rich experience in developing state-of-the-art reports for a wide array of markets and sectors. The brilliance of the experts at TMR Research and their alacrity to conduct thorough research and create phenomenal reports makes TMR Research better than others.
The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.
Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.
Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.
Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.
The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.
The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.
Flat 10% discount on Single User License if you prebook this report
Flat 10% discount on Multiple User License if you prebook this report
Flat 10% discount on Corporate License if you prebook this report