Market Overview:
The Nigeria cocoa processing market is expected to exhibit a CAGR of 7.2% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Cocoa processing refers to the conversion of cocoa beans into different forms, such as cocoa liquor, cocoa butter, and cocoa powder. Cocoa-based products are rich in theobromine, polyphenols, magnesium, zinc, iron, vitamins, etc. They offer numerous health benefits in controlling high blood pressure levels, improving cognitive health, enhancing metabolism, reducing chronic fatigue, etc. As a result, cocoa-based products find extensive applications across diverse industries, such as food and beverages, cosmetics, pharmaceuticals, etc.
In Nigeria, the presence of favorable climatic conditions and extensive land use for the sustainable production of cocoa is propelling the market for cocoa processing. In line with this, the Federal Government of Nigeria has launched numerous schemes and subsidies for cocoa farmers to ensure improved productivity and high-grade bean quality. Moreover, the Nigerian Export Promotion Council (NEPC) is focusing on expanding the trade activities for cocoa beans by establishing specialized units, such as the Cocoa Association of Nigeria (CAN). Besides this, the increasing penetration of western food trends in Nigeria is also driving the demand for cocoa-based baked goods, beverages, confectioneries, etc. Additionally, the growing awareness towards numerous anti-aging, moisturizing, and anti-inflammatory properties of cocoa beans is further catalyzing their usage in the cosmetics sector. The rising popularity of cocoa-infused grooming products, including soap bars, lotions, creams, lip balms, etc., is also bolstering the market growth. Moreover, cocoa products are extensively utilized as flavoring agents and coatings on medicines and supplements in the pharmaceutical industry.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the Nigeria cocoa processing market, along with forecasts for the period 2022-2027. Our report has categorized the market based on bean type, product type and application.
Breakup by Bean Type:
- Forastero
- Criollo
- Trinitario
Breakup by Product Type:
- Cocoa Butter
- Cocoa Liquor
- Cocoa Powder
- Others
Breakup by Application:
- Confectionary
- Bakery
- Beverages
- Pharmaceuticals
- Others
Competitive Landscape:
The competitive landscape of the industry has also been examined with some of the key players being Cocoa (Ile-Oluji) Limited, FTN Cocoa Processors Plc, Mondelez International, Olam International and Saroafrica International Limited.
Report Coverage:
| Report Features |
Details |
|---|
| Base Year of the Analysis |
2021 |
| Historical Period |
2016-2021 |
| Forecast Period |
2022-2027 |
| Units |
US$ Million |
| Segment Coverage |
Bean Type, Product Type, Application |
| Companies Covered |
Cocoa (Ile-Oluji) Limited, FTN Cocoa Processors Plc, Mondelez International, Olam International and Saroafrica International Limited |
| Customization Scope |
10% Free Customization |
| Report Price and Purchase Option |
Single User License: US$ 2699
Five User License: US$ 3699
Corporate License: US$ 4699 |
| Post-Sale Analyst Support |
10-12 Weeks |
| Delivery Format |
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
Key Questions Answered in This Report:
- How has the Nigeria cocoa processing market performed so far and how will it perform in the coming years?
- What is the impact of COVID-19 on the Nigeria cocoa processing market?
- What is the breakup of the market based on the bean type?
- What is the breakup of the market based on the product type?
- What is the breakup of the market based on the application?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the Nigeria cocoa processing market and who are the key players?
- What is the degree of competition in the market?
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Nigeria Cocoa Processing Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Bean Type
6.1 Forastero
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Criollo
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Trinitario
6.3.1 Market Trends
6.3.2 Market Forecast
7 Market Breakup by Product Type
7.1 Cocoa Butter
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Cocoa Liquor
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Cocoa Powder
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 Others
7.4.1 Market Trends
7.4.2 Market Forecast
8 Market Breakup by Application
8.1 Confectionary
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Bakery
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Beverages
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Pharmaceuticals
8.4.1 Market Trends
8.4.2 Market Forecast
8.5 Others
8.5.1 Market Trends
8.5.2 Market Forecast
9 SWOT Analysis
9.1 Overview
9.2 Strengths
9.3 Weaknesses
9.4 Opportunities
9.5 Threats
10 Value Chain Analysis
11 Porters Five Forces Analysis
11.1 Overview
11.2 Bargaining Power of Buyers
11.3 Bargaining Power of Suppliers
11.4 Degree of Competition
11.5 Threat of New Entrants
11.6 Threat of Substitutes
12 Competitive Landscape
12.1 Market Structure
12.2 Key Players
12.3 Profiles of Key Players
12.3.1 Cocoa (Ile-Oluji) Limited
12.3.1.1 Company Overview
12.3.1.2 Product Portfolio
12.3.2 FTN Cocoa Processors Plc
12.3.2.1 Company Overview
12.3.2.2 Product Portfolio
12.3.3 Mondelez International
12.3.3.1 Company Overview
12.3.3.2 Product Portfolio
12.3.4 Olam International
12.3.4.1 Company Overview
12.3.4.2 Product Portfolio
12.3.5 Saroafrica International Limited
12.3.5.1 Company Overview
12.3.5.2 Product Portfolio
List of Figures
Figure 1: Nigeria: Cocoa Processing Market: Major Drivers and Challenges
Figure 2: Nigeria: Cocoa Processing Market: Sales Value (in Million US$), 2016-2021
Figure 3: Nigeria: Cocoa Processing Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 4: Nigeria: Cocoa Processing Market: Breakup by Bean Type (in %), 2021
Figure 5: Nigeria: Cocoa Processing Market: Breakup by Product Type (in %), 2021
Figure 6: Nigeria: Cocoa Processing Market: Breakup by Application (in %), 2021
Figure 7: Nigeria: Cocoa Processing (Forastero) Market: Sales Value (in Million US$), 2016 & 2021
Figure 8: Nigeria: Cocoa Processing (Forastero) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 9: Nigeria: Cocoa Processing (Criollo) Market: Sales Value (in Million US$), 2016 & 2021
Figure 10: Nigeria: Cocoa Processing (Criollo) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 11: Nigeria: Cocoa Processing (Trinitario) Market: Sales Value (in Million US$), 2016 & 2021
Figure 12: Nigeria: Cocoa Processing (Trinitario) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 13: Nigeria: Cocoa Processing (Cocoa Butter) Market: Sales Value (in Million US$), 2016 & 2021
Figure 14: Nigeria: Cocoa Processing (Cocoa Butter) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 15: Nigeria: Cocoa Processing (Cocoa Liquor) Market: Sales Value (in Million US$), 2016 & 2021
Figure 16: Nigeria: Cocoa Processing (Cocoa Liquor) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 17: Nigeria: Cocoa Processing (Cocoa Powder) Market: Sales Value (in Million US$), 2016 & 2021
Figure 18: Nigeria: Cocoa Processing (Cocoa Powder) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 19: Nigeria: Cocoa Processing (Other Product Types) Market: Sales Value (in Million US$), 2016 & 2021
Figure 20: Nigeria: Cocoa Processing (Other Product Types) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 21: Nigeria: Cocoa Processing (Confectionary) Market: Sales Value (in Million US$), 2016 & 2021
Figure 22: Nigeria: Cocoa Processing (Confectionary) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 23: Nigeria: Cocoa Processing (Bakery) Market: Sales Value (in Million US$), 2016 & 2021
Figure 24: Nigeria: Cocoa Processing (Bakery) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 25: Nigeria: Cocoa Processing (Beverages) Market: Sales Value (in Million US$), 2016 & 2021
Figure 26: Nigeria: Cocoa Processing (Beverages) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 27: Nigeria: Cocoa Processing (Pharmaceuticals) Market: Sales Value (in Million US$), 2016 & 2021
Figure 28: Nigeria: Cocoa Processing (Pharmaceuticals) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 29: Nigeria: Cocoa Processing (Other Applications) Market: Sales Value (in Million US$), 2016 & 2021
Figure 30: Nigeria: Cocoa Processing (Other Applications) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 31: Nigeria: Cocoa Processing Industry: SWOT Analysis
Figure 32: Nigeria: Cocoa Processing Industry: Value Chain Analysis
Figure 33: Nigeria: Cocoa Processing Industry: Porter’s Five Forces Analysis
List of Tables
Table 1: Nigeria: Cocoa Processing Market: Key Industry Highlights, 2021 and 2027
Table 2: Nigeria: Cocoa Processing Market Forecast: Breakup by Bean Type (in Million US$), 2022-2027
Table 3: Nigeria: Cocoa Processing Market Forecast: Breakup by Product Type (in Million US$), 2022-2027
Table 4: Nigeria: Cocoa Processing Market Forecast: Breakup by Application (in Million US$), 2022-2027
Table 5: Nigeria: Cocoa Processing Market: Competitive Structure
Table 6: Nigeria: Cocoa Processing Market: Key Players