Cocoa is a fatty bean which is obtained from Theobroma cocoa, that is dried and fermented after which processed in addition to extracting cocoa powder, cocoa oil, cocoa butter, cocoa liquor and liqueur, and other solids. The demand for cocoa is rapidly increasing due to its use in chocolate. The three common plants from which cocoa is derived are criollo, trinitarian, and forastero. Also, cocoa products are recognized to have high flavonoids awareness, due to which they are regarded to be beneficial to people with cardiovascular issues.
The global Cocoa and Chocolate market is estimated around $129.01 billion in 2018 and expected to be developing at a CAGR of 2.28%, to attain $144.4 billion by 2023.
Drivers and Restraints:
The main factors responsible for the growth of the cocoa and chocolate market, elevating the demand for chocolate merchandise and their coatings are projected to enhance the demand for the market growth. Increasing demand for the cocoa primarily based products which include cocoa merchandises and liquids, high disposable earning is fuelling the market increase. The health benefit within the utilization of cocoa in pharmaceuticals and cosmetics is one of the most important factors fuelling the growth of the market.
However, large manufacturing charges, health problems regarding large consumption of cocoa products which incorporate pests and high sugar content, low productivity are hindering the growth of the market.
By geography, the Global Cocoa and Chocolate Market are studied in Europe, and Asia-Pacific and the Middle-East and Africa regions, North America. Europe is the main consumer of cocoa, accompanied by North America. Also, Europe is a primary processor of cocoa in the international market and is forecasted to develop at the huge cost. However, the general cocoa and chocolate industry in the Europe region has come to be stagnant and saturated over a previous couple of years.
Some of the leading competitors of the market include ADM, Cargill, Bunge, Barry Callebaut, Indcresa, Blommer and JB Foods Limited, Plot Ghana, Dutch Cocoa and Cocoa Processing Company Limited.
Scope of the report
The report offers a comprehensive analysis of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in effecting the market dynamics and trends are discussed in detail at the product level. Further, the performance of the market at the regional and country-level is assessed and the prospects with high growth potential are identified and debated.
The key players in the industry are profiled providing insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategical activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry are provided. The report also offers a broad outlook of the market along with recommendations from industry experts on the opportunities for investment activity.
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