The cocoa derivatives market's net worth is predicted to grow from US$ 29.31 billion in 2023 to over US$ 49.59 billion by 2033. The market is expected to register a 5.4% CAGR from 2023 to 2033.
A cocoa derivative is a cocoa product derived from cocoa processing. There are cocoa beans, cocoa butter, and cocoa powder, among others. Additionally, organic and conventional derivatives are available for these cocoa beans.
The global market is experiencing an increase in organic and fair-trade cocoa bean demand. The rising interest in pesticide-free food products influences the demand for organically grown cocoa. Consumers are inclined to consume safer products that contribute to a healthier lifestyle.
Impact Factors for Cocoa Derivatives:
| Attributes | Details |
|---|---|
| Cocoa Derivatives Market Value (2023) | US$ 29.31 billion |
| Cocoa Derivatives Market Expected Value (2033) | US$ 49.59 billion |
| Cocoa Derivatives Market Projected CAGR (2023 to 2033) | 5.4% |
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
A higher CAGR is expected for the cocoa derivative market during the forecast period if the historical CAGR is compared with the anticipated CAGR. For the market, the historical CAGR was 4.8% from 2018 to 2022, and the forecasted CAGR is 5.4% during the forecast period.
The cocoa derivatives market was valued at US$ 23.05 billion in 2018. In 2022, the valuation was increased to US$ 27.81 billion. By 2033, the market is expected to reach US$ 49.59 billion.
| Historical CAGR | 4.80% |
|---|---|
| Historical Market Value (2022) | US$ 27.81 billion |
| Forecast CAGR | 5.40% |
In recent years, there has been a growing awareness of the risks associated with eating too much sugar and saturated fats, which are often found in cocoa derivatives like chocolate. As a result, certain cocoa derivatives may become less popular, and healthier alternatives may become more popular.
Companies have begun to respond to this growing awareness by offering healthier alternatives such as dark chocolate, which is made with less sugar and saturated fats. Consumers have also begun to shift their preference towards healthier cocoa-based products, such as cocoa powder. This shift in preference is likely to continue in the coming years.
Principal Consultant
Cocoa derivatives are known for their volatility, which can cause uncertainty among investors and industry players. Fluctuations in prices can be caused by weather events, changes in supply and demand, and currency fluctuations.
Price changes can be difficult to predict, making investors uncomfortable to make informed decisions. To mitigate these risks, investors diversify their portfolios and use hedge strategies.
| Segment | Product Type |
|---|---|
| Attributes | Cocoa Beans |
| Details (CAGR) | 7.40% |
| Market Value | US$ 14.20 billion |
| Segment | Product Type |
|---|---|
| Attributes | Cocoa Butter |
| Details (CAGR) | 4.10% |
| Market Value | US$ 8.66 billion |
There are several types of cocoa derivatives on the market, including cocoa beans, cocoa butter, cocoa powder, and others. The cocoa beans segment captured 7.4% in 2023, while the cocoa powder segment is expected to grow at an impressive CAGR.
The process of making cocoa powder involves crushing cocoa beans extracted from cocoa trees, removing cocoa butter, and then processing the residual cocoa solids to produce unsweetened cocoa powder. The demand for cocoa powder is driven by consumers' desire for better flavors, colors, and textures.
As a result, cocoa derivatives are segmented according to application confectionery, cosmetics, beverages, functional foods, and pharmaceuticals. Currently holding a market share of 43%, the confectionery segment may generate lucrative revenues during the assessment period, and generate lucrative revenues in the future.
Most of the cocoa produced worldwide is used to make chocolates and chocolate-based products, which accounts for the growth of the target segment. Most of the cocoa produced globally is used to make chocolates and chocolate-based products. Thus, during the projection period, the growing consumption of chocolates, especially by children, may eventually generate high cocoa demand.
In terms of application, the cocoa derivatives market can be segmented into food and beverage products, personal care products, and others. Bakery products, beverages, confectionery, dairy products, and snacks are all made with cocoa.
There is an increasing demand for plant-based ingredients, such as cocoa butter, cocoa powder, cocoa nibs, and cocoa liquor, which is increasing sales of clean-label and vegan products. Therefore, the growing market for food & beverages comes from the demand for plant-based products. Olam International and Cargill, Inc. are the key producers of cocoa for food & beverages.
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need
and save 40%!
Globally, the cocoa derivatives market was dominated by Europe in 2023. An increasing preference for gourmet chocolate among European consumers is responsible for the growth in the region. Moreover, Lindt & Sprüngli have indicated that their organic cocoa products sales in Europe are growing at a much faster pace than overall cocoa product sales.
To meet the growing demand for organic products, manufacturers are adding them to their portfolios. For example, Barry Callebaut produces an organic-certified, non-alkalized cocoa powder that is domestically grown.
High Consumption of Cocoa due to its Health Benefits Boosts the United States Market
It is expected that the United States cocoa derivative market may record a CAGR of 4.5% during the forecast period due to its dominant share of 26.5% of the global market. A key factor driving cocoa sales in the United States is the rise in consumption of clean-label products and healthy on-the-go products due to their many health benefits.
Despite an increase in product prices, the demand for chocolates has increased dramatically in the last few years, as a result of customers' healthy eating habits. As cocoa derivatives are a crucial component of chocolate and chocolate-based products, this has resulted in higher cocoa derivative sales. Similarly, the rising usage of cocoa derivatives in pharmaceutical and cosmetic products may boost sales across the United States.
Rising Consumption of Chocolates Propelling Cocoa Derivatives Demand in India
Rising consumption of chocolates and increasing penetration of upcoming start-ups may make cocoa derivatives demand in India rise significantly in the coming years, according to FMI. With the growing population and shifting consumer preferences, more businesses are using cutting-edge strategies to gain market supremacy as the market expands. Particularly in India, tastes and preferences are drastically changing as chocolate takes a leading place in sweets and confectionaries.
There has been an increase in sugar-free, organic, and vegan chocolate in recent years. Moreover, new chocolates and chocolate-based products are being introduced to increase the customer base. This in turn has positively affected cocoa sales.
Start-ups Leverage Processing Technologies and Microbiology
Cocoa derivatives have a relatively small startup ecosystem compared to other industries, but a few players are making waves. The cocoa derivative market presents opportunities for startups that are focused on sustainability, transparency, and innovation. The market is ripe for disruption, and there is potential for new players to enter and make a meaningful impact.
A prominent application of cocoa derivatives in the manufacturing of chocolate is the advent of various food fortification techniques and processing technologies. As a result, the global cocoa derivatives market has seen growth due to advancements in the confectionery industry.
As a result of the presence of several local and regional competitors, the cocoa industry is fragmented and highly competitive on a global scale. Key cocoa derivatives manufacturing companies use several marketing techniques, including alliances, acquisitions, mergers, and collaborations. It is increasingly important for stakeholders in the cocoa derivatives industry to be certified and to be concerned about sustainability.
Recent Developments:
Some key players supplying cocoa derivatives are
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2023 |
| Market Analysis | US$ billion for Value and MT for Volume |
| Key Regions Covered |
|
| Key Countries Covered | United States, Canada, Brazil, Mexico, Chile, Peru, Germany, United Kingdom, Spain, Italy, France, Russia, Poland, China, India, Japan, Australia, New Zealand, GCC Countries, North Africa, South Africa, and Türkiye |
| Key Segments Covered |
|
| Key Companies Profiled |
|
| 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 market is estimated to secure a valuation of US$ 29.31 billion in 2023.
The growth potential of the market is 5.4% through 2033.
The market is expected to be worth US$ 49.59 billion by the end of 2033.
The United States is expected to surge at a CAGR of 4.5% until 2033.
The cocoa beans segment is expected to remain preferred in the market until 2033.
1. Executive Summary | Cocoa Derivatives Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
3.5.1. Supply Side Participants and Their Roles
3.5.1.1. Producers
3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers)
3.5.1.3. Wholesalers and Distributors
3.5.2. Value Added and Value Created at Node in the Supply Chain
3.5.3. List of Raw Material Suppliers
3.5.4. List of Existing and Potential Buyer’s
3.6. Investment Feasibility Matrix
3.7. Value Chain Analysis
3.7.1. Profit Margin Analysis
3.7.2. Wholesalers and Distributors
3.7.3. Retailers
3.8. PESTLE and Porter’s Analysis
3.9. Regulatory Landscape
3.9.1. By Key Regions
3.9.2. By Key Countries
3.10. Regional Parent Market Outlook
3.11. Production and Consumption Statistics
3.12. Import and Export Statistics
4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) & Volume (MT) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) & Volume (MT) Projections, 2023 to 2033
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Type
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) & Volume (MT) Analysis By Type, 2018 to 2022
5.3. Current and Future Market Size Value (US$ Million) & Volume (MT) Analysis and Forecast By Type, 2023 to 2033
5.3.1. Cocoa Butter
5.3.2. Cocoa Beans
5.3.3. Cocoa Powder
5.3.4. Others
5.4. Y-o-Y Growth Trend Analysis By Type, 2018 to 2022
5.5. Absolute $ Opportunity Analysis By Type, 2023 to 2033
6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Category
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) & Volume (MT) Analysis By Category, 2018 to 2022
6.3. Current and Future Market Size Value (US$ Million) & Volume (MT) Analysis and Forecast By Category, 2023 to 2033
6.3.1. Organic
6.3.2. Conventional
6.4. Y-o-Y Growth Trend Analysis By Category, 2018 to 2022
6.5. Absolute $ Opportunity Analysis By Category, 2023 to 2033
7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application
7.1. Introduction / Key Findings
7.2. Historical Market Size Value (US$ Million) & Volume (MT) Analysis By Application, 2018 to 2022
7.3. Current and Future Market Size Value (US$ Million) & Volume (MT) Analysis and Forecast By Application, 2023 to 2033
7.3.1. Bakery and Confectionery
7.3.2. Dairy and Frozen Desserts
7.3.3. Beverages
7.3.4. Cosmetics and Personal Care
7.3.5. Pharmaceuticals
7.3.6. Others
7.4. Y-o-Y Growth Trend Analysis By Application, 2018 to 2022
7.5. Absolute $ Opportunity Analysis By Application, 2023 to 2033
8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region
8.1. Introduction
8.2. Historical Market Size Value (US$ Million) & Volume (MT) Analysis By Region, 2018 to 2022
8.3. Current Market Size Value (US$ Million) & Volume (MT) Analysis and Forecast By Region, 2023 to 2033
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. MEA
8.4. Market Attractiveness Analysis By Region
9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
9.1. Historical Market Size Value (US$ Million) & Volume (MT) Trend Analysis By Market Taxonomy, 2018 to 2022
9.2. Market Size Value (US$ Million) & Volume (MT) Forecast By Market Taxonomy, 2023 to 2033
9.2.1. By Country
9.2.1.1. U.S.
9.2.1.2. Canada
9.2.2. By Type
9.2.3. By Category
9.2.4. By Application
9.3. Market Attractiveness Analysis
9.3.1. By Country
9.3.2. By Type
9.3.3. By Category
9.3.4. By Application
9.4. Key Takeaways
10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
10.1. Historical Market Size Value (US$ Million) & Volume (MT) Trend Analysis By Market Taxonomy, 2018 to 2022
10.2. Market Size Value (US$ Million) & Volume (MT) Forecast By Market Taxonomy, 2023 to 2033
10.2.1. By Country
10.2.1.1. Brazil
10.2.1.2. Mexico
10.2.1.3. Rest of Latin America
10.2.2. By Type
10.2.3. By Category
10.2.4. By Application
10.3. Market Attractiveness Analysis
10.3.1. By Country
10.3.2. By Type
10.3.3. By Category
10.3.4. By Application
10.4. Key Takeaways
11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
11.1. Historical Market Size Value (US$ Million) & Volume (MT) Trend Analysis By Market Taxonomy, 2018 to 2022
11.2. Market Size Value (US$ Million) & Volume (MT) Forecast By Market Taxonomy, 2023 to 2033
11.2.1. By Country
11.2.1.1. Germany
11.2.1.2. U.K.
11.2.1.3. France
11.2.1.4. Spain
11.2.1.5. Italy
11.2.1.6. Rest of Europe
11.2.2. By Type
11.2.3. By Category
11.2.4. By Application
11.3. Market Attractiveness Analysis
11.3.1. By Country
11.3.2. By Type
11.3.3. By Category
11.3.4. By Application
11.4. Key Takeaways
12. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
12.1. Historical Market Size Value (US$ Million) & Volume (MT) Trend Analysis By Market Taxonomy, 2018 to 2022
12.2. Market Size Value (US$ Million) & Volume (MT) Forecast By Market Taxonomy, 2023 to 2033
12.2.1. By Country
12.2.1.1. China
12.2.1.2. Japan
12.2.1.3. South Korea
12.2.1.4. Singapore
12.2.1.5. Thailand
12.2.1.6. Indonesia
12.2.1.7. Australia
12.2.1.8. New Zealand
12.2.1.9. Rest of Asia Pacific
12.2.2. By Type
12.2.3. By Category
12.2.4. By Application
12.3. Market Attractiveness Analysis
12.3.1. By Country
12.3.2. By Type
12.3.3. By Category
12.3.4. By Application
12.4. Key Takeaways
13. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
13.1. Historical Market Size Value (US$ Million) & Volume (MT) Trend Analysis By Market Taxonomy, 2018 to 2022
13.2. Market Size Value (US$ Million) & Volume (MT) Forecast By Market Taxonomy, 2023 to 2033
13.2.1. By Country
13.2.1.1. GCC Countries
13.2.1.2. South Africa
13.2.1.3. Israel
13.2.1.4. Rest of MEA
13.2.2. By Type
13.2.3. By Category
13.2.4. By Application
13.3. Market Attractiveness Analysis
13.3.1. By Country
13.3.2. By Type
13.3.3. By Category
13.3.4. By Application
13.4. Key Takeaways
14. Key Countries Market Analysis
14.1. USA
14.1.1. Pricing Analysis
14.1.2. Market Share Analysis, 2022
14.1.2.1. By Type
14.1.2.2. By Category
14.1.2.3. By Application
14.2. Canada
14.2.1. Pricing Analysis
14.2.2. Market Share Analysis, 2022
14.2.2.1. By Type
14.2.2.2. By Category
14.2.2.3. By Application
14.3. Brazil
14.3.1. Pricing Analysis
14.3.2. Market Share Analysis, 2022
14.3.2.1. By Type
14.3.2.2. By Category
14.3.2.3. By Application
14.4. Mexico
14.4.1. Pricing Analysis
14.4.2. Market Share Analysis, 2022
14.4.2.1. By Type
14.4.2.2. By Category
14.4.2.3. By Application
14.5. Germany
14.5.1. Pricing Analysis
14.5.2. Market Share Analysis, 2022
14.5.2.1. By Type
14.5.2.2. By Category
14.5.2.3. By Application
14.6. United Kingdom
14.6.1. Pricing Analysis
14.6.2. Market Share Analysis, 2022
14.6.2.1. By Type
14.6.2.2. By Category
14.6.2.3. By Application
14.7. France
14.7.1. Pricing Analysis
14.7.2. Market Share Analysis, 2022
14.7.2.1. By Type
14.7.2.2. By Category
14.7.2.3. By Application
14.8. Spain
14.8.1. Pricing Analysis
14.8.2. Market Share Analysis, 2022
14.8.2.1. By Type
14.8.2.2. By Category
14.8.2.3. By Application
14.9. Italy
14.9.1. Pricing Analysis
14.9.2. Market Share Analysis, 2022
14.9.2.1. By Type
14.9.2.2. By Category
14.9.2.3. By Application
14.10. China
14.10.1. Pricing Analysis
14.10.2. Market Share Analysis, 2022
14.10.2.1. By Type
14.10.2.2. By Category
14.10.2.3. By Application
14.11. Japan
14.11.1. Pricing Analysis
14.11.2. Market Share Analysis, 2022
14.11.2.1. By Type
14.11.2.2. By Category
14.11.2.3. By Application
14.12. South Korea
14.12.1. Pricing Analysis
14.12.2. Market Share Analysis, 2022
14.12.2.1. By Type
14.12.2.2. By Category
14.12.2.3. By Application
14.13. Singapore
14.13.1. Pricing Analysis
14.13.2. Market Share Analysis, 2022
14.13.2.1. By Type
14.13.2.2. By Category
14.13.2.3. By Application
14.14. Thailand
14.14.1. Pricing Analysis
14.14.2. Market Share Analysis, 2022
14.14.2.1. By Type
14.14.2.2. By Category
14.14.2.3. By Application
14.15. Indonesia
14.15.1. Pricing Analysis
14.15.2. Market Share Analysis, 2022
14.15.2.1. By Type
14.15.2.2. By Category
14.15.2.3. By Application
14.16. Australia
14.16.1. Pricing Analysis
14.16.2. Market Share Analysis, 2022
14.16.2.1. By Type
14.16.2.2. By Category
14.16.2.3. By Application
14.17. New Zealand
14.17.1. Pricing Analysis
14.17.2. Market Share Analysis, 2022
14.17.2.1. By Type
14.17.2.2. By Category
14.17.2.3. By Application
14.18. GCC Countries
14.18.1. Pricing Analysis
14.18.2. Market Share Analysis, 2022
14.18.2.1. By Type
14.18.2.2. By Category
14.18.2.3. By Application
14.19. South Africa
14.19.1. Pricing Analysis
14.19.2. Market Share Analysis, 2022
14.19.2.1. By Type
14.19.2.2. By Category
14.19.2.3. By Application
14.20. Israel
14.20.1. Pricing Analysis
14.20.2. Market Share Analysis, 2022
14.20.2.1. By Type
14.20.2.2. By Category
14.20.2.3. By Application
15. Market Structure Analysis
15.1. Competition Dashboard
15.2. Competition Benchmarking
15.3. Market Share Analysis of Top Players
15.3.1. By Regional
15.3.2. By Type
15.3.3. By Category
15.3.4. By Application
16. Competition Analysis
16.1. Competition Deep Dive
16.1.1. Olam Group Ltd
16.1.1.1. Overview
16.1.1.2. Product Portfolio
16.1.1.3. Profitability by Market Segments
16.1.1.4. Sales Footprint
16.1.1.5. Strategy Overview
16.1.1.5.1. Marketing Strategy
16.1.1.5.2. Product Strategy
16.1.1.5.3. Channel Strategy
16.1.2. Indcre SA
16.1.2.1. Overview
16.1.2.2. Product Portfolio
16.1.2.3. Profitability by Market Segments
16.1.2.4. Sales Footprint
16.1.2.5. Strategy Overview
16.1.2.5.1. Marketing Strategy
16.1.2.5.2. Product Strategy
16.1.2.5.3. Channel Strategy
16.1.3. Cargill Inc.
16.1.3.1. Overview
16.1.3.2. Product Portfolio
16.1.3.3. Profitability by Market Segments
16.1.3.4. Sales Footprint
16.1.3.5. Strategy Overview
16.1.3.5.1. Marketing Strategy
16.1.3.5.2. Product Strategy
16.1.3.5.3. Channel Strategy
16.1.4. Natra SA
16.1.4.1. Overview
16.1.4.2. Product Portfolio
16.1.4.3. Profitability by Market Segments
16.1.4.4. Sales Footprint
16.1.4.5. Strategy Overview
16.1.4.5.1. Marketing Strategy
16.1.4.5.2. Product Strategy
16.1.4.5.3. Channel Strategy
16.1.5. JB Foods Ltd
16.1.5.1. Overview
16.1.5.2. Product Portfolio
16.1.5.3. Profitability by Market Segments
16.1.5.4. Sales Footprint
16.1.5.5. Strategy Overview
16.1.5.5.1. Marketing Strategy
16.1.5.5.2. Product Strategy
16.1.5.5.3. Channel Strategy
16.1.6. Ecuakao Group Ltd
16.1.6.1. Overview
16.1.6.2. Product Portfolio
16.1.6.3. Profitability by Market Segments
16.1.6.4. Sales Footprint
16.1.6.5. Strategy Overview
16.1.6.5.1. Marketing Strategy
16.1.6.5.2. Product Strategy
16.1.6.5.3. Channel Strategy
16.1.7. United Cocoa Processor Inc.
16.1.7.1. Overview
16.1.7.2. Product Portfolio
16.1.7.3. Profitability by Market Segments
16.1.7.4. Sales Footprint
16.1.7.5. Strategy Overview
16.1.7.5.1. Marketing Strategy
16.1.7.5.2. Product Strategy
16.1.7.5.3. Channel Strategy
16.1.8. Barry Callebaut AG
16.1.8.1. Overview
16.1.8.2. Product Portfolio
16.1.8.3. Profitability by Market Segments
16.1.8.4. Sales Footprint
16.1.8.5. Strategy Overview
16.1.8.5.1. Marketing Strategy
16.1.8.5.2. Product Strategy
16.1.8.5.3. Channel Strategy
16.1.9. Moner Cocoa SA
16.1.9.1. Overview
16.1.9.2. Product Portfolio
16.1.9.3. Profitability by Market Segments
16.1.9.4. Sales Footprint
16.1.9.5. Strategy Overview
16.1.9.5.1. Marketing Strategy
16.1.9.5.2. Product Strategy
16.1.9.5.3. Channel Strategy
16.1.10. Altınmarka Gıda San ve Tic AS
16.1.10.1. Overview
16.1.10.2. Product Portfolio
16.1.10.3. Profitability by Market Segments
16.1.10.4. Sales Footprint
16.1.10.5. Strategy Overview
16.1.10.5.1. Marketing Strategy
16.1.10.5.2. Product Strategy
16.1.10.5.3. Channel Strategy
17. Assumptions & Acronyms Used
18. Research Methodology
Explore Food and Beverage Insights
View Reports
Cocoa Derivatives Market
