Cocoa Processing Market Size, Share, Growth, Trends, Outlook, Report and Forecast Period of 2024-2032
Cocoa Processing Market Outlook
According to a new report by Expert Market Research titled, “Global Cocoa Processing Market Size, Share, Analysis, Report and Forecast 2024-2032″, the global cocoa processing market grew significantly in 2023. Aided by the escalating demand for chocolate and chocolate-derived products and the deep-rooted role of cocoa in diverse food and beverage sectors, the market is projected to further grow at a CAGR of 1.3% between 2024 and 2032.
The evergreen allure of chocolates is undeniably a prime expander of the cocoa processing market size. The evolving palate of the global populace is continually seeking novel and rich flavours in chocolates, whether it's in the form of dark, milk, or white chocolates. The burgeoning bakery and confectionery industry's reliance on high-quality cocoa derivatives further amplifies the demand. Moreover, as festive seasons roll around globally, chocolates stand as universal gifts, further bolstering the market dynamics.
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The burgeoning interest in health and wellness has led to the discovery of cocoa's potential health benefits, which in turn has invigorated the cocoa processing market growth. Rich in flavonoids, cocoa is associated with reducing the risk of heart diseases, improving blood flow, and even exhibiting mood-enhancing properties. This has seen cocoa not just as a dessert's delight but also as a healthful inclusion in dietary regimes, bolstered further by its role in certain supplements and health drinks.
Its foray into the cosmetic industry is noteworthy as well. Cocoa butter, one of the prized outputs of cocoa processing, is cherished for its moisturising properties, making it a staple in lotions, creams, and lip balms. Its potential skin-rejuvenating properties, combined with a delightful aroma, accentuate its value in cosmetic formulations. In geographical terms, the Asia Pacific holds a significant portion of the cocoa processing market share.
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Cocoa Processing Market Segmentation
The market can be divided based on bean type, product type, application, and region.
Market Breakup by Bean Type
- Forastero
- Criollo
- Trinitario
- Others
Market Breakup by Product Type
- Cocoa Butter
- Cocoa Liquor
- Cocoa Powder
Market Breakup by Application
- Confectionery
- Bakery
- Beverages
- Pharmaceuticals
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global cocoa processing market. Some of the major players explored in the report by Expert Market Research are as follows:
- Barry Callebaut
- Cargill Inc.
- Nestlé S.A
- Mondelez International
- Others
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