Market Research Report
Cocoa Market 2021-2027
|Cocoa Market 2021-2027|
Published: May 8, 2021
Orion Market Research Pvt Ltd
Delivery time: 2-3 business days
Full-title:Global Cocoa Market Size, Share & Trends Analysis Report by Product Type (Cocoa Beans, Cocoa Butter, Cocoa Powder & Cake, and Cocoa Paste & Liquor) and by Application (Food & Beverage, Confectionery, Personal Care & Cosmetics, and Pharmaceuticals) Forecast, 2021-2027.
The global cocoa market is projected to grow at a CAGR of 3.0% during the forecast period (2021-2027). The major aspect that drives the growth of the market includes the higher consumption of cocoa based products among millennials and youngsters across the globe. Besides, the presence of various market players operating across the globe also drives the market growth by adopting various growth strategies. For instance, in March 2020, Nestle Australia introduced a plant-based version of its cocoa malt beverage, Milo. The new Milo replaces milk powder with soy and oats and the core ingredients are the same as the original Milo - malt, barley, and cocoa. Thus, the product launches further aid the market growth during the forecast period.
The global cocoa market is segmented on the basis of product type and application. Based on the product type, the global cocoa market is segmented as cocoa beans, cocoa butter, cocoa powder & cake, and cocoa paste & liquor. The cocoa powder & cake segment of the market is projected to hold a substantial share in the market during the forecast period. Based on the application, the global cocoa market is segmented as food & beverage, confectionery, personal care & cosmetics, and pharmaceuticals. The confectionery segment of the market is projected to hold a substantial share in the market during the forecast period.
Based on geography, the global Cocoa market is segmented as North America, Europe, Asia-Pacific, and the Rest of the World. The Asia-Pacific region is likely to hold the most substantial share during the forecast period. Further, Archer Daniels Midland Co., Cargill Inc., Dutch Cocoa BV, Mars Inc., Meiji Holdings Co. Ltd., Natra SA, Puratos Group, and Toutan SA among others are some of the prominent players functioning in the global Cocoa market. New product launches & developments, partnerships, agreements, and acquisitions are some of the growth strategies adopted by the players in order to sustain in the highly competitive market.
The market study of the global Cocoa market is incorporated by extensive primary and secondary research conducted by the research team. Secondary research has been conducted to refine the available data to breakdown the market into various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings the authenticity of our reports.
The report is intended for Cocoa companies, food & beverages companies, personal care & cosmetics manufacturing companies, plastic manufacturing companies, research institutes and universities, other related companies, and government organizations for overall market analysis and competitive analysis. The report provides an in-depth analysis of the market size and growth opportunities. The report will serve as a source for 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions.