Cocoa & chocolate are used to provide taste, flavor, and texture to food, in addition to nutritional and functional benefits. Cocoa butter, cocoa liquor, and cocoa powder are some of the major ingredients used to manufacture chocolates. The favorable characteristics of cocoa butter (melting point and contraction) provide a melt-in-the mouth sensation and easy removal of chocolates from the molds. The chocolate also masks the unpleasant taste of tablets and encourages its usage for medicinal purposes.
Cocoa & Chocolate industry is highly mature. Currently, there are many producing companies in the Cocoa & Chocolate industry. The main players are Barry Callebaut, Cargill, Nestle SA, Mars and Hershey. The market can be broadly categorized as open market and captive market. Barry Callebaut is the market leader in open market while for captive market the market is dominated by Nestle SA, Mars and Hershey.
In consumption market, the global consumption value of Cocoa & Chocolate increases with the 5.7% average growth rate from 2012-2017. North America is the mainly consumption region due to the bigger demand of downstream applications. North America occupied 34.21%% of the global consumption volume in total in 2016.
Global Dark Cocoa production is 2535 K MT in 2016, and the chocolate production is Dark 5628 K MT in 2016, occupying about 68.11% the total Cocoa & Chocolate production. Dark chocolate is the major type of Cocoa & Chocolate, and there are also types like milk chocolate. With fine taste of Cocoa & Chocolate, the downstream application industries will need more Cocoa & Chocolate products. So, Cocoa & Chocolate has a huge market potential in the future. Manufacturers engaged in the industry are trying to produce more kinds of taste Cocoa & Chocolate through improving technology and adding additional agent.
The major raw materials for Cocoa & Chocolate are cocoa beans, sugar and milk. Fluctuations in the price of the upstream product will impact on the production cost of Cocoa & Chocolate. The production cost of Cocoa & Chocolate is also an important factor which could impact the price of Cocoa & Chocolate. The Cocoa & Chocolate manufacturers are trying to reduce production cost by developing production method.
We tend to believe this industry is a rising industry, and the consumption increasing degree will show a smooth growth curve. And the price presents decreasing trend according to the economy development status and international competition. Also, there will be fluctuation in gross margin.
According to this study, over the next five years the Cocoa & Chocolate market will register a 4.3% CAGR in terms of revenue, the global market size will reach USD 63600 million by 2024, from USD 49400 million in 2019. In particular, this report presents the global market share (sales and revenue) of key companies in Cocoa & Chocolate business, shared in Chapter 3.
This report presents a comprehensive overview, market shares, and growth opportunities of Cocoa & Chocolate market by product type, application, key manufacturers and key regions and countries.
This study considers the Cocoa & Chocolate value and volume generated from the sales of the following segments-
Segmentation by product type- breakdown data from 2014 to 2019, in Section 2.3; and forecast to 2024 in section 11.7.
Cocoa
Chocolate
Segmentation by application- breakdown data from 2014 to 2019, in Section 2.4; and forecast to 2024 in section 11.8.
Confectionery
Food & Beverage
Cosmetics
Pharmaceuticals
This report also splits the market by region- Breakdown data in Chapter 4, 5, 6, 7 and 8.
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Spain
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report- Breakdown data in in Chapter 3.
Barry Callebaut
Cargill
Nestle SA
Mars
Hershey
Blommer Chocolate Company
FUJI OIL
Puratos
C?moi
Irca
Foley's Candies LP
Olam
Kerry Group
Guittard
Ferrero
Ghirardelli
Alpezzi Chocolate
Valrhona
Republica Del Cacao
TCHO
In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
Research objectives
To study and analyze the global Cocoa & Chocolate consumption (value & volume) by key regions/countries, product type and application, history data from 2014 to 2018, and forecast to 2024.
To understand the structure of Cocoa & Chocolate market by identifying its various subsegments.
Focuses on the key global Cocoa & Chocolate manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
To analyze the Cocoa & Chocolate with respect to individual growth trends, future prospects, and their contribution to the total market.
To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
To project the consumption of Cocoa & Chocolate submarkets, with respect to key regions (along with their respective key countries).
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.
