Product Code: TIPRE00009486
The cocoa derivatives market size is expected to grow from US$ 27,807.13 million in 2022 to US$ 37,799.86 million by 2028; it is estimated to register a CAGR of 5.3% from 2022 to 2028.
Cocoa derivatives are cocoa products derived from the processing of cocoa. The types of cocoa derivatives include cocoa beans, cocoa butter, and cocoa powder. Cocoa is increasingly being used in formulating a different variety of beverages and confectionery products, such as milkshakes, cakes, croissants, and hot cocoa. The influx of cocoa-based confectioneries has increased tremendously in developed and developing economies in the last several years due to growing consumer spending on various indulgent confectioneries, particularly chocolate-based products, and the surging popularity of molded and countline chocolates. Moreover, key manufacturers are adding new chocolate types, such as dark chocolate and ruby chocolate, to their portfolio. In February 2022, Hershey's created the limited-edition "Celebrate SHE" cocoa-based bars to commemorate all women and girls. The brand highlighted "SHE" in the center of the milk cocoa-based bar. The launch of such innovative cocoa-based confectioneries would further accelerate the cocoa derivatives market growth.
Clean-label products and growing attention toward clear labeling are the two major trends across the world. For example, companies' claim of natural fruit/vegetable content in the product on the front side of the packaging may attract a large number of consumers. Further, manufacturers are reducing the use of chemical additives such as emulsifiers and preservatives in cocoa products. Many companies use sunflower lecithin, a healthier and cleaner ingredient in their products, which helps them meet clean-label criteria. According to the Global Clean Label Consumer Study 2019 by Ingredion, 78% of 600 consumers admitted that it is important for them to know the ingredients before purchasing a product. According to the Institute of Food Technologists Organization, in 2018, more than 50% of product launches across the world had clean labels.
Based on type, the cocoa derivatives market is segmented into cocoa butter, cocoa beans, cocoa powder, and others. The cocoa beans segment held the largest share in 2021, and the cocoa powder segment is expected to register the highest CAGR from 2022 to 2028. Cocoa beans are oval dark brownish seeds that promote healthy digestion due to their fiber content s . Although bitter, they are widely eaten raw. Nevertheless, cocoa beans are mainly ground for the production of chocolate. The fiber content helps soften bowel movements and prevent hemorrhoids, along with helping with other digestive conditions. Per serving, cocoa contains more heart-healthy flavonoids, which have been linked to improved heart health.
In terms of region, the cocoa derivatives market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. In 2021, Europe held the largest share of the market. Asia Pacific is estimated to register the highest CAGR from 2022 to 2028. The market growth in the region is attributed to the increasing popularity of gourmet chocolates among Europeans. Hence, different high-end chocolate brands have extensively been looking for ways to differentiate their products, along with focusing on sourcing single-estate products. Thus, the demand for high-quality cocoa and single-origin cocoa flavors is on the rise in the region. For instance, Valrhona Inc., the world's finest chocolate producer based in France, has been harvesting cocoa beans from Maria Trinidad Sanchez, a single-origin cocoa estate from Further, consumer inclination toward healthy living triggers the demand for superior-quality cocoa derivatives, such as cocoa butter, cocoa powder, and cocoa beans.
Olam Group Ltd, Indcre SA, Cargill Inc, Natra SA, JB Foods Ltd, Ecuakao Group Ltd, United Cocoa Processor Inc, Barry Callebaut AG, Moner Cocoa SA, and AltInmarka GIda San ve Tic AS are among the key players operating in the cocoa derivatives market. These players engage in developing affordable and innovative products to meet the rising customer demands and expand their market share.
The overall size of the cocoa derivatives market has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights into the topic. Participants in this process include VPs; business development managers; market intelligence managers; national sales managers; and external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the cocoa derivatives market.
Reasons to Buy:
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the cocoa derivatives market, thereby allowing players to develop effective long-term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth the market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation, and industry verticals.
Table Of Contents
1. Introduction
- 1.1 Study Scope
- 1.2 The Insight Partners Research Report Guidance
- 1.3 Market Segmentation
- 1.3.1 Cocoa Derivatives Market, by Type
- 1.3.2 Cocoa Derivatives Market, by Category
- 1.3.3 Cocoa Derivatives Market, by Application
- 1.3.4 Cocoa Derivatives Market, by Geography
2. Key Takeaways
3. Research Methodology
- 3.1 Scope of the Study
- 3.2 Research Methodology
- 3.2.1 Data Collection:
- 3.2.2 Primary Interviews:
- 3.2.3 Hypothesis formulation:
- 3.2.4 Macro-economic factor analysis:
- 3.2.5 Developing base number:
- 3.2.6 Data Triangulation:
- 3.2.7 Country level data:
4. Cocoa Derivatives Market Landscape
- 4.1 Market Overview
- 4.2. PORTER'S FIVE FORCES ANALYSIS
- 4.2.1 Bargaining Power of Buyers
- 4.2.2 Bargaining Power of Suppliers
- 4.2.3 Threat to Substitute
- 4.2.4 Threat to New Entrants
- 4.2.5 Competitive Rivalry
- 4.3. EXPERT OPINIONS
- 4.3. ECOSYSTEM ANALYSIS
5. Cocoa Derivatives Market - Key Market Dynamics
- 5.1 Market Drivers
- 5.1.1 Rising Demand For Cocoa-Based Confectionery
- 5.1.2 Utilization of Cocoa as a Sustainable Beauty Ingredient by the Cosmetic Industry
- 5.2 Market Restraints
- 5.2.1 Fluctuation in the Prices of Cocoa
- 5.3 Market Opportunities
- 5.3.1 Increasing Demand for Organic and Fairtrade Cocoa Derivatives
- 5.4 Future Trends
- 5.4.1 Rising Demand for Clean-label Products
- 5.5 Impact Analysis
6. Cocoa Derivatives- Global Market Analysis
- 6.1 Cocoa Derivatives Market Overview
- 6.2 Cocoa Derivatives Market -Revenue and Forecast to 2028 (US$ Million)
- 6.3 Competitive Positioning - Key Market Players
7. Cocoa Derivatives Market Analysis - By Type
- 7.1 Overview
- 7.2 Cocoa Derivatives Market, By Type(2021 and 2028)
- 7.3 Cocoa Butter
- 7.3.1 Overview
- 7.3.2 Cocoa Butter: Cocoa Derivatives Market - Revenue and Forecast to 2028 (US$ Million)
- 7.4 Cocoa Beans
- 7.4.1 Overview
- 7.4.2 Cocoa Beans: Cocoa Derivatives Market - Revenue and Forecast to 2028 (US$ Million)
- 7.5 Cocoa Powder
- 7.5.1 Overview
- 7.5.2 Cocoa Powder: Cocoa Derivatives Market - Revenue and Forecast to 2028 (US$ Million)
- 7.6 Others
- 7.6.1 Overview
- 7.6.2 Others: Cocoa Derivatives Market - Revenue and Forecast to 2028 (US$ Million)
8. Cocoa Derivatives Market Analysis - By Category
- 8.1 Overview
- 8.2 Cocoa Derivatives Market, By Category (2021 and 2028)
- 8.3 Organic
- 8.3.1 Overview
- 8.3.2 Organic: Cocoa Derivatives Market - Revenue and Forecast to 2028 (US$ Million)
- 8.4 Conventional
- 8.4.1 Overview
- 8.4.2 Conventional: Cocoa Derivatives Market - Revenue and Forecast to 2028 (US$ Million)
9. Cocoa Derivatives Market Analysis - By Application
- 9.1 Overview
- 9.2 Cocoa Derivatives Market, By Application (2021 and 2028)
- 9.3 Food & Beverages
- 9.3.1 Overview
- 9.3.2 Food & Beverages: Cocoa Derivatives Market - Revenue and Forecast to 2028 (US$ Million)
- 9.3.3 Bakery & Confectionery
- 9.3.3.1 Bakery & Confectionery: Cocoa Derivatives Market - Revenue and Forecast to 2028 (US$ Mn)
- 9.3.4 Dairy & Frozen Desserts
- 9.3.4.1 Dairy & Frozen Desserts: Cocoa Derivatives Market - Revenue and Forecast to 2028 (US$ Mn)
- 9.3.5 Beverages
- 9.3.5.1 Beverages: Cocoa Derivatives Market - Revenue and Forecast to 2028 (US$ Mn)
- 9.3.6 Others
- 9.3.6.1 Others: Cocoa Derivatives Market - Revenue and Forecast to 2028 (US$ Mn)
- 9.4 Personal Care
- 9.4.1 Overview
- 9.4.2 Personal Care: Cocoa Derivatives Market - Revenue and Forecast to 2028 (US$ Million)
- 9.5 Others
- 9.5.1 Overview
- 9.5.2 Others: Cocoa Derivatives Market - Revenue and Forecast to 2028 (US$ Million)
10. Cocoa Derivatives Market - Geographic Analysis
- 10.1 Overview
- 10.2 North America: Cocoa Derivatives Market
- 10.2.1 North America: Cocoa Derivatives Market - Analysis and Forecast to 2028 (US$ Million)
- 10.2.2 North America: Cocoa Derivatives Market, by Type
- 10.2.3 North America: Cocoa Derivatives Market, by Category
- 10.2.4 North America: Cocoa Derivatives Market, by Application
- 10.2.5 North America: Cocoa Derivatives Market, by Key Country
- 10.2.5.1 US: Cocoa Derivatives Market -Analysis and Forecast to 2028 (US$ Million)
- 10.2.5.1.1 US: Cocoa Derivatives Market, by Type
- 10.2.5.1.2 US: Cocoa Derivatives Market, by Category
- 10.2.5.1.3 US: Cocoa Derivatives Market, by Application
- 10.2.5.2 Canada: Cocoa Derivatives Market -Analysis and Forecast to 2028 (US$ Million)
- 10.2.5.2.1 Canada: Cocoa Derivatives Market, by Type
- 10.2.5.2.2 Canada: Cocoa Derivatives Market, by Category
- 10.2.5.2.3 Canada: Cocoa Derivatives Market, by Application
- 10.2.5.3 Mexico: Cocoa Derivatives Market -Analysis and Forecast to 2028 (US$ Million)
- 10.2.5.3.1 Mexico: Cocoa Derivatives Market, by Type
- 10.2.5.3.2 Mexico: Cocoa Derivatives Market, by Category
- 10.2.5.3.3 Mexico: Cocoa Derivatives Market, by Application
- 10.3 Europe: Cocoa Derivatives Market
- 10.3.1 Europe: Cocoa Derivatives Market -Revenue and Forecast to 2028 (US$ Million)
- 10.3.2 Europe: Cocoa Derivatives Market, by Type
- 10.3.3 Europe: Cocoa Derivatives Market, by Category
- 10.3.4 Europe: Cocoa Derivatives Market, by Application
- 10.3.5 Europe: Cocoa Derivatives Market, by Key Country
- 10.3.5.1 Germany: Cocoa Derivatives Market-Analysis and Forecast to 2028 (US$ Million)
- 10.3.5.1.1 Germany: Cocoa Derivatives Market, by Type
- 10.3.5.1.2 Germany: Cocoa Derivatives Market, by Category
- 10.3.5.1.3 Germany: Cocoa Derivatives Market, by Application
- 10.3.5.2 France: Cocoa Derivatives Market-Analysis and Forecast to 2028 (US$ Million)
- 10.3.5.2.1 France: Cocoa Derivatives Market, by Type
- 10.3.5.2.2 France: Cocoa Derivatives Market, by Category
- 10.3.5.2.3 France: Cocoa Derivatives Market, by Application
- 10.3.5.3 UK: Cocoa Derivatives Market-Revenue and Forecast to 2028 (US$ Million)
- 10.3.5.3.1 UK: Cocoa Derivatives Market, by Type
- 10.3.5.3.2 UK: Cocoa Derivatives Market, by Category
- 10.3.5.3.3 UK: Cocoa Derivatives Market, by Application
- 10.3.5.4 Italy: Cocoa Derivatives Market-Revenue and Forecast to 2028 (US$ Million)
- 10.3.5.4.1 Italy: Cocoa Derivatives Market, by Type
- 10.3.5.4.2 Italy: Cocoa Derivatives Market, by Category
- 10.3.5.4.3 Italy: Cocoa Derivatives Market, by Application
- 10.3.5.5 Russia: Cocoa Derivatives Market-Revenue and Forecast to 2028 (US$ Million)
- 10.3.5.5.1 Russia: Cocoa Derivatives Market, by Type
- 10.3.5.5.2 Russia: Cocoa Derivatives Market, by Category
- 10.3.5.5.3 Russia: Cocoa Derivatives Market, by Application
- 10.3.5.6 Rest of Europe: Cocoa Derivatives Market-Revenue and Forecast to 2028 (US$ Million)
- 10.3.5.6.1 Rest of Europe: Cocoa Derivatives Market, by Type
- 10.3.5.6.2 Rest of Europe: Cocoa Derivatives Market, by Category
- 10.3.5.6.3 Rest of Europe: Cocoa Derivatives Market, by Application
- 10.4 Asia-Pacific: Cocoa Derivatives Market
- 10.4.1 Asia-Pacific: Cocoa Derivatives Market - Analysis and Forecast to 2028 (US$ Million)
- 10.4.2 Asia-Pacific: Cocoa Derivatives Market, by Type
- 10.4.3 Asia-Pacific: Cocoa Derivatives Market, by Category
- 10.4.4 Asia-Pacific: Cocoa Derivatives Market, by Application
- 10.4.5 Asia-Pacific: Cocoa Derivatives Market, by Key Country
- 10.4.5.1 Australia: Cocoa Derivatives Market -Analysis and Forecast to 2028 (US$ Million)
- 10.4.5.1.1 Australia: Cocoa Derivatives Market, by Type
- 10.4.5.1.2 Australia: Cocoa Derivatives Market, by Category
- 10.4.5.1.3 Australia: Cocoa Derivatives Market, by Application
- 10.4.5.2 China: Cocoa Derivatives Market -Analysis and Forecast to 2028 (US$ Million)
- 10.4.5.2.1 China: Cocoa Derivatives Market, by Type
- 10.4.5.2.2 China: Cocoa Derivatives Market, by Category
- 10.4.5.2.3 China: Cocoa Derivatives Market, by Application
- 10.4.5.3 India: Cocoa Derivatives Market -Analysis and Forecast to 2028 (US$ Million)
- 10.4.5.3.1 India: Cocoa Derivatives Market, by Type
- 10.4.5.3.2 India: Cocoa Derivatives Market, by Category
- 10.4.5.3.3 India: Cocoa Derivatives Market, by Application
- 10.4.5.4 Japan: Cocoa Derivatives Market -Analysis and Forecast to 2028 (US$ Million)
- 10.4.5.4.1 Japan: Cocoa Derivatives Market, by Type
- 10.4.5.4.2 Japan: Cocoa Derivatives Market, by Category
- 10.4.5.4.3 Japan: Cocoa Derivatives Market, by Application
- 10.4.5.5 South Korea: Cocoa Derivatives Market -Analysis and Forecast to 2028 (US$ Million)
- 10.4.5.5.1 South Korea: Cocoa Derivatives Market, by Type
- 10.4.5.5.2 South Korea: Cocoa Derivatives Market, by Category
- 10.4.5.5.3 South Korea: Cocoa Derivatives Market, by Application
- 10.4.5.6 Rest of Asia-Pacific: Cocoa Derivatives Market -Analysis and Forecast to 2028 (US$ Million)
- 10.4.5.6.1 Rest of Asia-Pacific: Cocoa Derivatives Market, by Type
- 10.4.5.6.2 Rest of Asia-Pacific: Cocoa Derivatives Market, by Category
- 10.4.5.6.3 Rest of Asia-Pacific: Cocoa Derivatives Market, by Application
- 10.5 Middle East and Africa: Cocoa Derivatives Market
- 10.5.1 Middle East and Africa: Cocoa Derivatives Market - Analysis and Forecast to 2028 (US$ Million)
- 10.5.2 Middle East and Africa: Cocoa Derivatives Market, by Type
- 10.5.3 Middle East and Africa: Cocoa Derivatives Market, by Category
- 10.5.4 Middle East and Africa: Cocoa Derivatives Market, by Application
- 10.5.5 Middle East and Africa: Cocoa Derivatives Market, by Key Country
- 10.5.5.1 South Africa: Cocoa Derivatives Market -Analysis and Forecast to 2028 (US$ Million)
- 10.5.5.1.1 South Africa: Cocoa Derivatives Market, by Type
- 10.5.5.1.2 South Africa: Cocoa Derivatives Market, by Category
- 10.5.5.1.3 South Africa: Cocoa Derivatives Market, by Application
- 10.5.5.2 Saudi Arabia: Cocoa Derivatives Market -Analysis and Forecast to 2028 (US$ Million)
- 10.5.5.2.1 Saudi Arabia: Cocoa Derivatives Market, by Type
- 10.5.5.2.2 Saudi Arabia: Cocoa Derivatives Market, by Category
- 10.5.5.2.3 Saudi Arabia: Cocoa Derivatives Market, by Application
- 10.5.5.3 UAE: Cocoa Derivatives Market -Analysis and Forecast to 2028 (US$ Million)
- 10.5.5.3.1 UAE: Cocoa Derivatives Market, by Type
- 10.5.5.3.2 UAE: Cocoa Derivatives Market, by Category
- 10.5.5.3.3 UAE: Cocoa Derivatives Market, by Application
- 10.5.5.4 Rest of the Middle East and Africa: Cocoa Derivatives Market -Analysis and Forecast to 2028 (US$ Million)
- 10.5.5.4.1 Rest of the Middle East and Africa: Cocoa Derivatives Market, by Type
- 10.5.5.4.2 Rest of the Middle East and Africa: Cocoa Derivatives Market, by Category
- 10.5.5.4.3 Rest of the Middle East and Africa: Cocoa Derivatives Market, by Application
- 10.6 South and Central America: Cocoa Derivatives Market
- 10.6.1 South and Central America: Cocoa Derivatives Market - Analysis and Forecast to 2028 (US$ Million)
- 10.6.2 South and Central America: Cocoa Derivatives Market, by Type
- 10.6.3 South and Central America: Cocoa Derivatives Market, by Category
- 10.6.4 South and Central America: Cocoa Derivatives Market, by Application
- 10.6.5 South and Central America: Cocoa Derivatives Market, by Key Country
- 10.6.5.1 Brazil: Cocoa Derivatives Market -Analysis and Forecast to 2028 (US$ Million)
- 10.6.5.1.1 Brazil: Cocoa Derivatives Market, by Type
- 10.6.5.1.2 Brazil: Cocoa Derivatives Market, by Category
- 10.6.5.1.3 Brazil: Cocoa Derivatives Market, by Application
- 10.6.5.2 Argentina: Cocoa Derivatives Market -Analysis and Forecast to 2028 (US$ Million)
- 10.6.5.2.1 Argentina: Cocoa Derivatives Market, by Type
- 10.6.5.2.2 Argentina: Cocoa Derivatives Market, by Category
- 10.6.5.2.3 Argentina: Cocoa Derivatives Market, by Application
- 10.6.5.3 Rest of South and Central America: Cocoa Derivatives Market -Analysis and Forecast to 2028 (US$ Million)
- 10.6.5.3.1 Rest of South and Central America: Cocoa Derivatives Market, by Type
- 10.6.5.3.2 Rest of South and Central America: Cocoa Derivatives Market, by Category
- 10.6.5.3.3 Rest of South and Central America: Cocoa Derivatives Market, by Application
11. Impact of COVID-19 Pandemic on Cocoa Derivatives Market
- 11.1 Overview
- 11.2 Impact of COVID-19 on Cocoa Derivatives Market
- 11.3 North America: Impact Assessment of COVID-19 Pandemic
- 11.4 Europe: Impact Assessment of COVID-19 Pandemic
- 11.5 Asia Pacific: Impact Assessment of COVID-19 Pandemic
- 11.6 Middle East & Africa: Impact Assessment of COVID-19 Pandemic
- 11.7 South and Central America: Impact Assessment of COVID-19 Pandemic
12. Industry Landscape
- 12.1 Overview
- 12.2 Strategy and Business Planning
- 12.3 New Product Development
- 12.4 Expansion
- 12.5 Mergers and Acquisitions
13. COMPANY PROFILES
- 13.1 OLAM GROUP LTD
- 13.1.1 Key Facts
- 13.1.2 Business Description
- 13.1.3 Products and Services
- 13.1.4 Financial Overview
- 13.1.5 SWOT Analysis
- 13.1.6 Key Developments
- 13.2 Indcre SA
- 13.2.1 Key Facts
- 13.2.2 Business Description
- 13.2.3 Products and Services
- 13.2.4 Financial Overview
- 13.2.5 SWOT Analysis
- 13.2.6 Key Developments
- 13.3 Cargill Inc
- 13.3.1 Key Facts
- 13.3.2 Business Description
- 13.3.3 Products and Services
- 13.3.4 Financial Overview
- 13.3.5 SWOT Analysis
- 13.3.6 Key Developments
- 13.4 Natra SA
- 13.4.1 Key Facts
- 13.4.2 Business Description
- 13.4.3 Products and Services
- 13.4.4 Financial Overview
- 13.4.5 SWOT Analysis
- 13.4.6 Key Developments
- 13.5 JB Foods Ltd
- 13.5.1 Key Facts
- 13.5.2 Business Description
- 13.5.3 Products and Services
- 13.5.4 Financial Overview
- 13.5.5 SWOT Analysis
- 13.5.6 Key Developments
- 13.6 Ecuakao Group Ltd
- 13.6.1 Key Facts
- 13.6.2 Business Description
- 13.6.3 Products and Services
- 13.6.4 Financial Overview
- 13.6.5 SWOT Analysis
- 13.6.6 Key Developments
- 13.7 Ecuakao Group Ltd
- 13.7.1 Key Facts
- 13.7.2 Business Description
- 13.7.3 Products and Services
- 13.7.4 Financial Overview
- 13.7.5 SWOT Analysis
- 13.7.6 Key Developments
- 13.8 Barry Callebaut AG
- 13.8.1 Key Facts
- 13.8.2 Business Description
- 13.8.3 Products and Services
- 13.8.4 Financial Overview
- 13.8.5 SWOT Analysis
- 13.8.6 Key Developments
- 13.9 Moner Cocoa SA
- 13.9.1 Key Facts
- 13.9.2 Business Description
- 13.9.3 Products and Services
- 13.9.4 Financial Overview
- 13.9.5 SWOT Analysis
- 13.9.6 Key Developments
- 13.10 Alt?nmarka G?da San ve Tic AS
- 13.10.1 Key Facts
- 13.10.2 Business Description
- 13.10.3 Products and Services
- 13.10.4 Financial Overview
- 13.10.5 SWOT Analysis
- 13.10.6 Key Developments
14. Appendix
- 14.1 About The Insight Partners
- 14.2 Glossary of Terms