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Cocoa Beans Market Size

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The global cocoa beans market is expected to witness robust growth in the coming years owing to growth of chocolate confectionary industry.
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Cocoa Beans Market Size, Application Analysis, Regional Outlook,
Competitive Strategies and Forecasts, 2015 to 2025 | Hexa
Research
“The global cocoa beans market is expected to
witness robust growth in the coming years owing to
growth of chocolate confectionary industry.”
7 March 2019, The global Cocoa Beans Market is expected to witness robust growth in the coming years
owing to growth of chocolate confectionary industry. Majority of the overall production of cocoa beans is
used in chocolate production as a raw material. In addition, increasing disposable inco me of middle-class
population and growing popularity of cocoa powder and cocoa beverages are expected to support market
growth in coming years. Factors, such as evolving taste, changing consumer demand, and rising health
consciousness among consumers are also expected to increase the product demand. Widespread
consumption of chocolate for celebrations as well as health benefits is likely to drive the market in future.
Extensive use of these beans in a wide range of applications, changing lifestyles and cult ures, and rapid
development in technology are expected to create several growth opportunities in the market. Key products
associated with the market include cocoa butter, liquor, and powder. Cocoa butter holds a prominent share
in the market owing to its high demand in industries, such as chocolate, food and beverages, cosmetics, and
pharmaceuticals. Cocoa is a key ingredient in products associated with dairy, bakery, and beverages. The
powder form is utilized in toppings, syrups, confectionary, and other food stuffs as a flavoring or coloring
agent. Moreover, increasing government efforts to provide modern farming techniques for farmers is
expected to create positive outlook for the market. Growing demand for organic products is also expected to
propel market growth in future.
However, fluctuating prices of cocoa beans and low productivity due to increasing concerns regarding pests
and diseases along with high dependency on seasons can challenge the market in near future.
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Different types of cocoa beans include trinitario, forastero, and criollo. Creole holds a prominent share in the
market owing to its widespread applications. It is also believed to be the most expensive type. Other types of
beans are expected to witness high demand from various end-user industries in the coming years.
Europe is a leading region in the market in terms of consumption owing to fair trade and high demand for
organic products. Demand for dark chocolate is increasing in the region due to its lower sugar content and
health benefits, which could further boost market growth. Use of the product as an ingredient in chocolate
and food and beverages industry is expected to increase in near future. Countries, such as Germany and U.K
are contributing significantly to regional market growth owing to high demand for chocolates.
North America is expected to emerge one of the promising regions in the market owing to high demand for
chocolates. The U.S. is a key contributor to regional market growth and is considered to be the leading
consumer in the world. Asia Pacific is anticipated to witness significant growth in near future owing to
increasing consumption of chocolates in developing countries, such as India and China. For instance, Hershey
India Pvt Ltd, a part of The Hershey Company, introduced its Hershey’s Kisses brand of chocolates in India.
They are available in three types, such as Milk Chocolate, Cookies ‘n’ Creme, and Almonds.
Latin America is likely to emerge highly lucrative owing to rising consumption of chocolates in Brazil, which
could be attributed to improved economic conditions. Western Africa is likely to witness momentous growth
in coming years. Côte d'Ivoire is the leading producer in the region, followed by Nigeria, Ghana, Togo, and
Cameroon.
Some of the key players operating in the cocoa beans market are Tomric Systems, Inc.; The Mexican Arabica
Bean Company; Jedwards International; PASCHA Company, InterNatural Foods LLC; and Meridian Cacao
Company. Leading players are mainly focusing on practice of sustainable sourcing appro aches in order to
boost their brand image. For instance, Barry Callebaut launched its first pilot in Indonesia to drive systemic
change in cocoa farming. This is the first of a series of five piolet programs, which are arranged in cocoa
producing countries, to test theories of change and accelerate impact in sustainable production. The
company aims to increase the income of farmers, eliminate child labor, and turn carbon positive.
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