The global cocoa powder market has reached a capacity to generate a revenue of around USD 2,667.5 million in 2024. The sales of cocoa powder are all set to follow a moderate growth rate of 2.9% during the forecast period. By following this sluggish CAGR global cocoa powder industry share is expanding to achieve a valuation of USD 3,441.1 million by 2034.
| Report Attribute | Details |
|---|---|
| Global Market Size (2024) | USD 2,667.5 million |
| Market Anticipated Forecast Value (2034) | USD 3,441.1 million |
| Market Projected Growth Rate (2024 to 2034) | 2.9% CAGR |
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The global alkalized market was valued at USD 2,387.4 million in 2019. The global sales of cocoa powder surged at a rate of 2.1% per year between 2019 and 2023.
The cocoa powder industry experienced a noticeable setback during the years 2020 and 2021, owing to the discontinuation of international trade channels as well as the retail market lockdown. As per the market survey report, the sales recovered at a moderate rate after 2022 in comparison to other food and beverage ingredient markets.
| Attributes | Details |
|---|---|
| Global Cocoa Powder Market Value (2019) | USD 2,387.4 million |
| Market Historical Growth Rate (CAGR 2019 to 2023) | 2.1% CAGR |
Cocoa in its powder form is the main ingredient for many chocolate manufacturing companies established in different locations forming the key end-user sector for the market. So, cocoa powder suppliers are adopting modern grinding technologies and micronization techniques for better texture and dispersion.
The food service sector that serves chocolate drinks, which includes bakeries, cafés, and restaurant chains, is growing rapidly these days. In line with this development, emerging trends of artisanal and superior chocolate beverages have increased the premium chocolate powder.
The table below lists the countries that are going to present enough growth opportunities for cocoa powder producers and suppliers.
| Regional Market Comparison | CAGR (2024 to 2034) |
|---|---|
| United States | 2.8% |
| Germany | 2.3% |
| Japan | 4.3% |
| China | 3.5% |
| India | 5.4% |
The United States market is predicted to grow at a moderate CAGR of 2.8% during the forecast period.
Successful bioengineering approaches to create cocoa plants that are adaptable to the United States climate have increased cocoa production thereby strengthening the regional market. Moreover, cocoa powder is in high demand in the retail market by the customers of the country looking for vegan-friendly substitutes.
Consumption of cocoa powder in Germany is about to increase at a rate of 2.3% per year between 2024 and 2034.
The wide extent of the bakery and confectionery sector in Germany results in higher sales and consumption of Dutch-processed cocoa powder in the region. German industries are also leading in optimizing fermentation and drying procedures to enhance cocoa bean powder quality and taste characteristics to appeal to end users beyond Germany and Europe.
The cocoa powder industry of China is on the verge of following a year-on-year growth rate of 3.5% over the next ten years.
Developing water-efficient cocoa cultivation methods and energy-efficient cocoa processing technologies has improved the overview of the natural cocoa powder market in China. So, Chinese manufacturers are adopting traceability methods and certifications, for example, UTZ Certified and Fairtrade cocoa certifications, to ensure that their products garner more traction in the global market.
Cocoa powder-using industries and retail consumers together are poised to increase sales at a CAGR of 4.3% from 2024 to 2034.
An increase in the consumption of functional food and drink items with a focus on certain health advantages has improved the market dynamics of cocoa processing in Japan. Besides functional food, the region is witnessing a higher demand for cocoa powder ingredients that can be utilized for making dairy-free sweets, drinks, and snacks.
The cocoa powder suppliers in India are witnessing a higher growth rate of 5.4% per year which may continue till 2034.
The growing interest of Indians in foods and beverages influenced by Western culture has expanded the marketplace for unique and gourmet chocolate products. In addition, the e-commerce websites and social media influence in the country have played a substantial role in popularizing processed cocoa in powder form.
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Based on product type, the share of natural cocoa powder stands to generate 64.3% of revenue of the total in 2024.
| Attributes | Details |
|---|---|
| Top Product Type or Segment | Natural Cocoa Powder |
| Total Market Share in 2024 to 2034 | 64.3% |
A move toward ethically sourced and less processed foods is at its peak nowadays owing to the organic movement flourishing across the globe. So, Growing appeal for organic or natural cocoa powder is anticipated to offer new market penetration opportunities for the producers as well as organic cocoa producers.
Based on sales channels, the uptake of cocoa powder products through direct channels can contribute to 73.5% of the total business in 2024.
| Attributes | Details |
|---|---|
| Top Sales Channel Segment | Direct Sales |
| Total Market Share in 2024 | 73.5% |
Product diversification by unsweetened cocoa powder market participants to make formulations, such as protein shakes, energy bars, and supplements has strengthened the direct sales channel. Moreover, this segment is witnessing a favorable growth trajectory as cocoa processing entities are promoting direct trade channels to support cocoa producers and farmer cooperatives.
The global market competition is characterized by the non-uniformity in the supply of raw cocoa, increasing adoption of sustainable cocoa cultivation, and growing use of processed products in the food & beverage sector.
Consumer preferences have compelled manufacturers of food items and beverages to increase the uptake of cocoa processing activities which has intensified the competition in recent years.
Recent Developments in the Global Market
| Attribute | Details |
|---|---|
| Estimated Market Size (2024) | USD 2,667.5 million |
| Projected Market Size (2034) | USD 3,441.1 million |
| Anticipated Growth Rate (2024 to 2034) | 2.9% |
| Forecast Period | 2024 to 2034 |
| Historical Data Available for | 2019 to 2023 |
| Market Analysis | USD million or billion for Value and Units for Volume |
| Key Regions Covered | North America, Latin America, Europe, Middle East & Africa (MEA), East Asia, South Asia and Oceania |
| Key Countries Covered | United States, Canada, Brazil, Mexico, Germany, Spain, Italy, France, United Kingdom, Russia, China, India, Australia & New Zealand, GCC Countries, and South Africa |
| Key Segments Covered | By Product Type, By Sales Channel, By End Use Verticals, and By Region |
| Key Companies Profiled | Olam Cocoa; Cargill; Barry Callebaut; Plot Ghana; Dutch Cocoa; Cocoa Processing Company Limited; Indcresa; Blommer; JB Foods Limited |
| 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 global cocoa powder market is estimated to be around USD 2,667.5 million in 2024.
The global cocoa powder market is to grow at 2.9% during the forecast period.
The global cocoa powder market is predicted to be valued at USD 3,441.1 million by 2034.
The global cocoa powder market was valued at USD 2,387.4 million in 2019.
Natural segment accounts for nearly 64.3% revenue share of the global cocoa powder market.
India is predicted to witness a CAGR of 5.4% in sales of cocoa powder through 2034.
| Market Valuation (2022) | USD 8,890.5 million |
|---|---|
| Market Projected Size (2033) | USD 10,558.9 million |
| Market Anticipated CAGR (2023 to 2033) | 1.7% |
| Market Size (2023) | USD 7,021 million |
|---|---|
| Market Size (2033) | USD 12,229.3 million |
| Market CAGR (2023 to 2033) | 6% |
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