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.
Scope of the Report:
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.
The worldwide market for Cocoa & Chocolate is expected to grow at a CAGR of roughly 4.3% over the next five years, will reach 63600 million US$ in 2024, from 49400 million US$ in 2019, according to a new study.
This report focuses on the Cocoa & Chocolate in global market, especially in North America, Europe and Asia-Pacific, South America, Middle East and Africa. This report categorizes the market based on manufacturers, regions, type and application.
Market Segment by Manufacturers, this report covers
Barry Callebaut
Cargill
Nestle SA
Mars
Hershey
Blommer Chocolate Company
FUJI OIL
Puratos
Cémoi
Irca
Foley’s Candies LP
Olam
Kerry Group
Guittard
Ferrero
Ghirardelli
Alpezzi Chocolate
Valrhona
Republica Del Cacao
TCHO
Market Segment by Regions, regional analysis covers
North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, Colombia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
Market Segment by Type, covers
Cocoa
Chocolate
Market Segment by Applications, can be divided into
Confectionery
Food & Beverage
Cosmetics
Pharmaceuticals
