The global cocoa maker market size reached USD 2,055.4 million in 2022 and it is expected to touch a valuation of USD 2,123.2 million in 2023. Furthermore, with the rising usage of cocoa products across various industries, the overall sales of cocoa makers are set to rise at 3.3% CAGR between 2023 and 2033, surpassing a valuation of USD 2,937.6 million by the end of 2033.
Cocoa makers are specific kinds of chocolate-making equipment employed to produce various chocolate-based goods from cocoa beans. These machines have become ideal solutions for producing high-quality chocolate products at faster speeds.
Increasing adoption of cocoa makers across various sectors including food & beverages, confectionery, cosmetics, and households to make various chocolate-based products is a key factor driving the global market.
Cocoa makers can be used to create a variety of different chocolate products, including candy bars, cookies, cakes, and ice cream. Generally, there are three main types of cocoa makers, i.e., electric cocoa makers, microwave cocoa makers, and stovetop cocoa makers, available in the market which enables end users to choose any specific type based on their requirements.
The stovetop is the most common type of cocoa maker. It is simple to use and does not require any special equipment. The microwave cocoa maker is faster than the stovetop one, but it requires a microwave-safe container.
However, with its fast and more convenient way to make cocoa, the electric cocoa maker is emerging as the top-selling product in the market right now. It is being increasingly employed across households and other commercial setups to quickly produce cocoa products.
Growing demand for cocoa products like injectable cocoa fillings which are being increasingly used in the preparation of various bakery items such as muffins, cakes, pralines, brownies, doughnuts, croissants, macaroons, etc. will boost the global cocoa maker industry during the forecast period.
| Attribute | Key Insights |
|---|---|
| Cocoa Maker Market Estimated Market Value (2023) | USD 2,123.2 million |
| Projected Market Value (2033) | USD 2,937.6 million |
| Value-based CAGR (2023 to 2033) | 3.3% |
| USA Market Share | 32.4% |
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As per FMI, the global cocoa maker market is projected to expand at 3.3% CAGR between 2023 and 2033 in comparison to the 4.8% CAGR registered during the historical period from 2018 to 2022.
Growth in the market is driven by increasing consumption of chocolates due to changing lifestyles, increasing disposable incomes, and rising awareness about the health benefits associated with cocoa.
Similarly, the growing popularity of homemade chocolates and the increasing adoption of cocoa makers across industries like confectionery and food & beverages are expected to boost sales in the market during the forecast period.
With rising incomes and changing lifestyles, people are seeking out premium chocolate products that offer a more indulgent taste experience. This trend is especially prevalent among millennials who are willing to pay premium prices for high-quality chocolate. As a result, there has been a sharp rise in cocoa products which is expected to create prospects for the global cocoa maker industry.
Leading players are continuously striving to develop cost-effective cocoa makers to expand their customer base across countries like India, China, and Japan. As chocolate lovers are showing a high preference for preparing various chocolate varieties in their homes, a price reduction could be a game-changing strategy for manufacturers.
A number of influential factors have been identified that are expected to spur growth in the global cocoa maker market during the projection period (2023 to 2033). Besides the proliferating aspects prevailing in the market, the analysts at FMI have also analyzed the restraining elements, lucrative opportunities, and upcoming threats that can somehow influence cocoa maker sales.
The drivers, restraints, opportunities, and threats (DROTs) identified are as follows:
DRIVERS
RESTRAINTS
OPPORTUNITIES
THREATS
Growing Adoption of Cocoa Makers Across Households Boosting the USA Market
As per FMI, the USA will continue to dominate the global cocoa maker market, accounting for a massive share of around 32.4% in 2023. Growing adoption of cocoa makers across USA households, the strong presence of leading cocoa maker manufacturers, and the booming confectionery industry are some of the key factors driving the USA market.
In the USA more and more people are interested in making their own chocolate at home and several companies are now offering cocoa makers to cater to this demand.
Furthermore, factors such as the rising popularity of handmade chocolate and increasing awareness of the health benefits of cocoa are expected to elevate the demand for cocoa makers across the USA during the next ten years.
Increasing Consumption of Chocolates to Ignite Sales in the United Kingdom
The overall market for cocoa makers in the United Kingdom is projected to grow at a robust CAGR of around 6.4% during the forecast period from 2023 to 2033. This is due to the growing popularity and consumption of chocolate and chocolate-based products.
Similarly, rising disposable incomes, growing health consciousness among consumers, and the changing preferences of consumers are expected to boost sales of cocoa makers across the United Kingdom over the assessment period.
Growing Awareness About the Health Benefits of Consuming Cocoa Products to Propel Demand in China
In recent years, the market for cocoa makers has been growing rapidly in China and it is expected to further rise at a healthy CAGR of 6.3% between 2023 and 2033. This is due to the increasing popularity of chocolate and other cocoa-based products in the country.
There are several factors driving the growth of the cocoa maker industry in China. First, the nation has a large population with a growing appetite for chocolate and other sweet treats. Second, economic growth in the country has led to increased disposable income, which has boosted sales of premium cocoa products. Finally, rising health consciousness among consumers is leading them to choose dark chocolate over milk chocolate, which is helping to drive up demand for cocoa makers.
Electric Cocoa Makers to Remain the Top Selling Type
Cocoa makers are devices used to make cocoa products. There are many types of cocoa makers, including electric cocoa makers, microwave cocoa makers, and stovetop cocoa makers, each with its advantages and disadvantages.
Among these, sales of electric cocoa makers are likely to outpace those of microwave and stovetop ones during the forecast period. This can be attributed to the rising end-user preference for electric cocoa makers due to their fast and convenient nature.
Online Sales Channel to Generate Maximum Revenues Through 2033
Based on sales channels, the global market for cocoa makers is segmented into online and offline. Each of them has a different kind of customer base and offers a unique set of benefits to manufacturers.
However, in terms of sales volume, the online sales channel is currently contributing more to the cocoa maker industry and the trend is expected to continue during the forecast period. This can be attributed to the rising penetration of online shopping platforms and growing consumer inclination towards purchasing products like cocoa makers through online mode.
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The cocoa maker market is fairly competitive, with Hershey and Nestle holding a major chunk of the overall market. The majority of the companies are focused on developing new cocoa makers with better features. Besides this, they are establishing new facilities across lucrative regions and establishing a merger & acquisitions strategy to gain a competitive edge in the market. For instance,
| Attribute | Details |
|---|---|
| Estimated Market Size (2023) | USD 2,123.2 million |
| Projected Market Size (2033) | USD 2,937.6 million |
| Anticipated Growth Rate (2023 to 2033) | 3.3% |
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD Mn for Value and Units for Volume |
| Key Regions Covered | North America; Europe; Asia Pacific; Latin America; Middle East and Africa (MEA); RoW |
| Key Countries Covered | USA, Canada, Mexico, Germany, UK, France, Russia, Brazil, Argentina, Japan, Australia, China, India, Indonesia, South Korea |
| Key Segments Covered | Type, Application, Sales Channel, Region |
| Key Companies Profiled | Nestle; Hershey; Ghirardelli; Lindt; Cargill Incorporated; ECOM Agroindustrial Corporation; Olam International; Fuji Oil Company Ltd; Barry Callebaut AG |
| Report Coverage | Strategic Growth Initiatives, DROT Analysis, Market Forecast, Company Share Analysis, Market Dynamics and Challenges, and Competitive Landscape. |
The market is estimated to secure a valuation of USD 2,123.2 million in 2023.
The global market size is to reach USS 2,937.6 million by 2033.
The growth potential of the cocoa maker market is 3.3% through 2033.
The United Kingdom is projected to emerge as a lucrative market.
Electric cocoa makers segment is likely to remain preferred through 2033.
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