Cocoa And Chocolate Market Set to Soar Past USD 67.88 Billion by 2030
The global Cocoa And Chocolate market size is expected to reach USD 67.88 billion by 2030 and exhibit a CAGR of 4.98% in the forecast period (2023−2030), according to Skyquest’s latest research report. The growing consumer demand, rising disposable income, health benefits, expansion of retail channels, increasing popularity of premium and artisanal chocolate, growing popularity of cocoa-based beauty and personal care products, and increasing global cocoa production are fueling the Market’s growth.
Westford,USA, Aug. 23, 2023 (GLOBE NEWSWIRE) — According to SkyQuest’s latest global research of the Cocoa And Chocolate market, increasing demand for dark chocolate, the rising popularity of single-origin and bean-to-bar chocolates, growing interest in sugar-free and low-calorie chocolate options, expanding market for functional and fortified chocolates, rising demand for organic and fair trade chocolates, growing focus on sustainability and ethical sourcing practices, the emergence of premium and luxury chocolate brands, innovative flavor combinations and product varieties, growing popularity of cocoa-based beverages and desserts, increasing adoption of online and e-commerce channels for chocolate sales are the trends that aid in the market’s growth.
Browse in-depth TOC on “Cocoa And Chocolate Market”
- Pages – 260
- Tables – 119
- Figures – 77
Cocoa is the seed of the cacao tree, while chocolate is made by mixing cocoa with other ingredients that can include milk, sugar or cream.
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Prominent Players in Cocoa And Chocolate Market
- Barry Callebaut
- Cargill
- Ferrero
- Mondelēz International
- Nestlé
- Olam International
- Blommer Chocolate Company
- The Hershey Company
- Cocoa Barry
- Guittard Chocolate Company
- Puratos
- Cémoi
- Amedei
- Valrhona
- Felchlin
- Läderach
- Godiva
- Lindt & Sprüngli
- Ghirardelli
- Tony’s Chocolonely
Chocolate Bars Demand to Grow Substantially in the Forecast Period
Chocolate bars dominated the global market owing to its high convenience and variety. They are widely available in different flavors, sizes, and price ranges, catering to a broad consumer base. Chocolate bars are versatile and can be enjoyed as a standalone treat or used as an ingredient in various confectionery and bakery products. Their widespread popularity, along with continuous product innovations and marketing efforts by manufacturers, contributes to their dominance in the market.
Food and Beverage is the Leading Application Segment
In terms of application, food and beverage is the leading segment due to the demand in various products. In addition, cocoa and chocolate add flavour, texture, and appeal to various food and beverage products, making them highly desirable among consumers. These products attract a significant consumer base, from chocolate-flavoured desserts and ice creams to cocoa-infused beverages and chocolate-coated snacks.
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Europe is the leading Market Due to the Largest Chocolate Manufacturer
Region-wise, Europe is one of the largest growing markets with the largest manufacturers of chocolate. The region has a strong culinary culture that includes a wide range of chocolate-based desserts, pastries, and confections. The use of chocolate in traditional European recipes and its integration into the local cuisine further solidifies its dominant position in the region.
A recent report thoroughly analyzes the major players operating within the Cocoa And Chocolate market. This comprehensive evaluation has considered several crucial factors, such as collaborations, mergers, innovative business policies, and strategies, providing invaluable insights into the key trends and breakthroughs in the market. Additionally, the report has carefully scrutinized the market share of the top segments and presented a detailed geographic analysis. Finally, the report has highlighted the major players in the industry and their ongoing endeavors to develop innovative solutions that cater to the ever-increasing demand for Cocoa And Chocolate.
Key Developments in Cocoa And Chocolate Market
- Nestle KitKat has unveiled a subtle change to its iconic chocolate bar, launched a product with 30% recycled packaging.
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Key Questions Answered in Cocoa And Chocolate Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market’s future growth?
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