According to the recent report by IMARC Group, titled “Cocoa Processing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global cocoa processing market size reached US$ 15.2 Billion in 2021. Cocoa beans grow inside yellowish-green cocoa pods on the trunks of the Theobroma cacao tree. Cocoa processing includes fermentation, drying, and aging of cocoa beans, after which cocoa powder, liquor, and butter are obtained. Cocoa is a good source of magnesium, due to which it helps in catalyzing protein synthesis and energy production. Apart from this, it is also rich in copper, which aids in improving glucose metabolism, brain development, and iron transportation. As a result, cocoa-based products are considered superfoods and help in boosting mental performance and uplifting mood.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Cocoa Processing Market Trends:
Cocoa finds application in the production of several food products, especially in the chocolate industry. It remains an indispensable raw material in the food and beverage industry for manufacturing chocolate biscuits, cakes, ice cream, shakes, and milk. In addition to this, cocoa beans are a good source of flavonoids, like proanthocyanidins and theobromine, which are known for their anti-inflammatory, anti-aging, and antioxidants properties. As they help in mitigating the risk of heart diseases like arrhythmia, cardiomyopathy, and heart failure, cocoa-based products like energy bars have a high demand among health-conscious consumers. Besides this, cocoa butter finds application in the personal care industry. Over-the-counter skin products made with cocoa butter, like lotions, lip balms, creams, and soap bars, are mostly preferred by consumers due to their moisturizing properties. Additionally, cocoa products are utilized as flavoring agents and coatings on supplements and medicines in the pharmaceutical industry. Other factors, such as rising disposable income and evolving preferences, are also bolstering the market growth. On account of these factors, the market is expected to reach US$ 15.8 Billion by 2027.
- Based on the bean type, the market has been divided into trinitario, criollo, and forastero. Among these, forastero represents the most preferred bean type.
- On the basis of the product type, cocoa liquor accounts for the majority of the total market share. Other types are cocoa butter and powder.
- Based on the application, the market has been categorized into the bakery, pharmaceuticals, confectionery, beverages, and others. Currently, confectionary represents the largest application segment for cocoa.
- Region-wise, Europe exhibits a clear dominance in the market. Other major regions include Asia Pacific, North America, Latin America, and Africa.
- The competitive landscape of the market has been analyzed in the report, with some of the key players being Cocoa Touton Processing Company Limited, Transmar Group, Guan Chong Bhd., Ecom Agroindustrial Corp. Limited, Nestlé SA, Barry Callebaut Group, Blommer Chocolate Company, Mondelez International, Inc., Cargill Incorporated, and Olam International.
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