The global cacao beans market is valued at USD 13,603.2 million in 2023, and it is expected to expand at a CAGR of 6.9% from 2023 to 2033. Forastero cacao beans account for 4/5th of the total market revenue. According to FMI, Germany is estimated to hold more than 17.6% share of the European cacao beans market in 2022, and it is estimated to grow with a CAGR of around 2.6% in the forecast period.
| Attribute | Details |
|---|---|
| Global Cacao Beans Market Size (2023) | USD 13,603.2 million |
| Global Cacao Beans Market Projected Size (2033) | USD 26,392.2 million |
| Cacao Beans Market CAGR (2023 to 2033) | 6.9% |
| Top 3 Countries Market Share | 65.0% |
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
There has been an upsurge in demand for organic cacao beans, which is expected to continue over the forecast period. The benefits of organic produce are becoming increasingly popular among food consumers and manufacturers.
Currently, approximately 4.6 % of cacao beans are grown organically. There are still some difficulties in raising total production to satisfy customer demand for organic agriculture products, as it is a difficult crop to farm organically. Additionally, there has been a close relationship between the demand for cacao beans and the supply for a long time.
Rising consumer awareness of the health benefits of cacao beans is expected to propel the cacao beans market share growth during the forecast period.
The demand for cocoa beans as intermediaries is anticipated to increase as the chocolate business expands quickly in emerging markets like China and India. The demand for the product is expected to rise further due to the growing significance of coating in processing vegetables, fruits, and cereals for increased flavor.
Due to its beneficial effects on health, including controlling hypertension and fatigue syndrome, the substance finds use in sectors including functional food and beverage, confectionery, pharmaceuticals, and cosmetics.
Around the world, there has been an increase in demand for chocolate varieties, such as milk chocolate, brownies, and dark chocolate, which encourages the sales of cacao beans.
Additionally, the availability of chocolates in tastes like mint, vanilla, and coffee is anticipated to benefit the sales of cocoa beans worldwide. Plants that grow cocoa are prone to pests and hard weather, such as extremely dry circumstances.
Principal Consultant
The European cacao beans industry requires a sustainable supply and consistency of Cacao Beans with the quality attributes to fulfill our varied end-use. Multiple kinds of Cacao Beans are needed to meet the demands of a complex market for Cacao-derived products and chocolate, in which cost-effectiveness, food safety, efficiency, and consumer demands for quality and taste play important roles.
Cacao Beans must produce wholesome products that comply with European legislation and other international food safety standards. The importance of a consistently high standard in Cacao Beans cannot be overstated as the source of unique Cacao flavor and nutritional components. Chocolate sells in a highly competitive market where quality and value are critical.
This horizontal presence was accompanied by a trend of vertically integrating foreign processing and trading firms back into the source. Like those in other Cacao-producing countries, Cameroon's leading processing and exporting companies are now subsidiaries of or usually aligned with international companies involved in the global Cacao trade.
Barry Callebaut, a major chocolate manufacturer and Cacao processor based in Switzerland, owns the country's processor, Société Industrielle Camerounaise des Cacaos SA.
Netherlands is predicted to remain an important market, accounting for the majority of the market share in 2022. The Netherlands holds more than 21.1% market share in the European cacao beans market, which is predicted to increase at a CAGR of around 4.2% over the forecast period.
In 2022, the Netherlands is predicted to have Europe's highest share of the Cacao Beans market. Archer Daniels Midland (ADM) has acquired Usicam, one of Cameroon's biggest plants for Cacao warehousing, cleaning, drying, and other related activities, in collaboration with Singapore-listed Olam.
The United States dominates the North American cacao beans market, holding a significant market share of more than 85.6%. It is expected to have a CAGR of around 5.8% during the forecast period.
As consumers switch to other snack foods, the industry suffers. According to the Global Cacao Agenda 2, which has been internationally agreed upon as the road map to achieving a sustainable global cacao economy, there is a need to improve Cacao quality through better communication of industry needs, quality assessment, and post-harvest processing, as well as to "enhance food safety through the adoption of Good Agricultural Practices and wider promotion.
The forastero bean type is expected to dominate the type segment, holding more than 80% of the market share in 2022, and it is predicted to expand with a CAGR of around 5.3% over the forecast period.
'Forastero,' 'Criollo,' and 'Trinitario' are the three main Cacao plant varieties. Cacao beans from the 'Criollo' variety are more difficult to come by and are considered a delicacy. Criollo is also less resistant to various diseases that affect the Cacao plant, so it is only grown in a few countries. Venezuela significantly produces 'Criollo' beans (Chuao and Porcelana).
The variety 'Trinitario' (from Trinidad) is a cross between 'Criollo' and 'Forastero.' It is of higher quality than 'Forastero,' yields more, and is more disease resistant than 'Criollo.'
The flavor is an important quality criterion for cacao bean product manufacturers. The intensity of the cacao or chocolate flavor and any ancillary flavor notes are included in the flavor criterion, as is the absence of flavor defects.
Introducing Trinitario trees to replace Criollos has already resulted in averaging flavor quality. The same is true for seedlings grown in Southeast Asia and elsewhere to supply mainstream cacao with a West African flavor.
Due to more intensive agriculture and a different climatic environment, West African Amelonado, which had survived in West Africa for a hundred years or more, succumbed to Vascular Streak Dieback in Malaysia in less than twenty years.
Disease-resistant varieties developed in Malaysia to replace the Amelonado are genetically distinct and produce a range of flavor characteristics, some more pronounced than others.
Among the application segment, food & beverage is expected to dominate the market, holding more than 65.6% share in 2022. It is expected to have a significant CAGR of around 5.3% over the forecast period.
Cacao products are in high demand in Europe's food industries and confectionery. Cacao is found in bars, chocolate tablets, pralines, confectionery products, and spreads. European production of such products remained relatively stable.
In 2021, Germany was the leading producer of chocolate products in Europe. Chocolate shops in the United States frequently import German chocolate products to sell alongside American chocolate brands.
Stollwerck Chocolates Company is a well-known Belgian and Swiss chocolate manufacturer. La Maison du Chocolat, Leonidas Chocolates, and Tortchen are other well-known German chocolate brands. Other top producers of chocolate products are Italy, the United Kingdom, and Belgium.
Even though the COVID-19 pandemic has impacted the chocolate market, market growth is still expected during the forecast period. Several European countries are at the top of the global chocolate exporters list. Germany, Belgium, Italy, the Netherlands, and Poland were the world's top five chocolate exporters in 2021.
Among the nature segment, organic is expected to dominate the market, holding more than 23.7% share in 2022. It is expected to grow with a significant CAGR of around 6.7% over the forecast period.
Cacao butter was the most important product segment, accounting for more than half of the global market share. In most cases, Cacao butter must be added to chocolate products, and the Cacao butter is already present in the chocolate liquor.
Chocolate is available in large quantities, as well as in consumer-size packages. Most European confectioners make chocolate, while others purchase it from chocolate specialists.
This product form acts as an emulsifier, extending the shelf life of chocolate and improving its creamy texture. It is also used as a fragrance stimulator and thickener in cosmetic formulations, which is the primary reason for the expanded demand for cacao beans.
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need
and save 40%!
The market has been fragmented for a long time due to various mid-sized and small competitors. Mergers and acquisitions, product innovation, and production capacity expansion are all priorities for major players. In addition, the high market competition promotes high product innovation in terms of types, rapid testing kits, marketing, etc.
For instance, In June 2021, Hershey acquired Lily's Sweets, a low-sugar chocolate manufacturer, as part of the U.S. chocolate giant's seeking to expand its product portfolio of better-for-you snacking brands. Cynthia Tice founded the company to sweeten traditional chocolate indulgences with stevia.
Barry Callebaut has upended the competitive environment of the worldwide cocoa bean market. The business just introduced the first chocolate manufactured only from cacao fruit. In the upcoming years, this aspect is anticipated to increase demand in the worldwide cocoa bean market.
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD billion for Value and MT for Volume |
| Key Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Oceania; and the Middle East & Africa |
| Key Countries Covered | USA, Canada, Brazil, Mexico, Chile, Peru, Argentina, Germany, Italy, France, UK, Spain, BENELUX, Nordic, Russia, Poland, China, Japan, South Korea, India, Thailand, Indonesia, Malaysia, Singapore, Australia, New Zealand, GCC Countries, Turkey, South Africa, North Africa, and Central Africa |
| Key Segments Covered | Bean type, Application, Nature, Product type, Voluntary Sustainability standard, and Region |
| Key Companies Profiled | Mars Inc; Barry Callebaut AG; Cargill; Archer-Daniels-Midland (ADM); Blommer Chocolate Company; Olam International; JB Foods Ltd (JB Cacao); BT Cacao; Ecom Agroindustrial Corp. Ltd |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The valuation of the cacao beans market stands at USD 13,603.2 million in 2023.
The global cacao beans market is expected to expand to USD 26,392.2 million by 2033.
The cacao beans market growth is predicted to follow a CAGR of 6.9% through 2033.
The United States is set to drive the cacao beans market growth, with a dominant share of over 85.6%.
Prominent players in the cacao beans market include Mars Inc., Barry Callebaut AG, Cargill, Archer-Daniels-Midland, and others.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Bean Type 5.1. Forastero 5.2. Trinitario 5.3. Criollo 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 6.1. Food and Beverages 6.1.1. Bakery and Confectionery 6.1.2. Beverages 6.1.3. Dairy Products 6.1.4. Syrups, Toppings and Fillings 6.1.5. Other Applications 6.2. Pharmaceuticals 6.3. Cosmetic and Personal Care 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Nature 7.1. Organic 7.2. Conventional 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Sales Channel 8.1. B2B 8.2. B2C 8.2.1. Hypermarkets/Supermarkets 8.2.2. Convenience Stores 8.2.3. Independent Grocery Stores 8.2.4. Specialty Stores 8.2.5. Online Retail 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type 9.1. Cacao Powder 9.2. Cacao butter 9.3. Paste/Liquor 10. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Voluntary Sustainability Standard 10.1. UTZ Certified 10.2. Rainforest Alliance 10.3. Fairtrade International 11. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 11.1. North America 11.2. Latin America 11.3. Western Europe 11.4. Eastern Europe 11.5. South Asia and Pacific 11.6. East Asia 11.7. Middle East and Africa 12. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 17. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 18. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 19. Key Countries Market Analysis 20. Market Structure Analysis 21. Competition Analysis 21.1. Mars Inc 21.2. Barry Callebaut AG 21.3. Cargill 21.4. Archer-Daniels-Midland (ADM) 21.5. Blommer Chocolate Company 21.6. Olam International 21.7. JB Foods Ltd (JB Cacao) 21.8. BT Cacao 21.9. Ecom Agroindustrial Corp. Ltd 21.10. Hershey Company 21.11. Puratos Group 22. Assumptions & Acronyms Used 23. Research Methodology
Explore Food and Beverage Insights
View Reports
Cacao Beans Market
