Cocoa’s Future: Crafting Growth in Global Demand Through 2031 ?
The global cocoa products market reached a valuation of USD 15,200 million in 2023, with projections indicating continued growth. TheIndustryStats anticipates the market will expand to USD 21,800 million by 2031, with a compound annual growth rate (CAGR) of 4.6% from 2024 to 2031. This positive outlook is fueled by rising demand across sectors such as food and beverage, pharmaceuticals, and cosmetics, where cocoa's sensory qualities and functional benefits are highly valued.
Key players shaping the market include industry giants and innovators like Nestle, FUJI OIL, Mars, Hershey, Puratos, Olam Cocoa, Cémoi, ECOM, Guan Chong, Mondelez, Touton, Plot Ghana, Dutch Cocoa, Cocoa Processing Company, Indcresa, Blommer, and JB Foods Limited. These companies play a significant role in driving trends and introducing new product applications, capitalizing on cocoa’s versatile uses and supporting sustainable practices in sourcing and production. (Note: This is a partial list; a full listing of market participants is available in the sample report.)
The market's core segments span cocoa liquor, cocoa butter, and cocoa powder, which address diverse needs across product applications. Regions covered include North America, Europe, Asia-Pacific, South America, and the Middle East & Africa, each contributing unique consumption patterns and growth potential. Sales occur through both direct and distribution channels, ensuring widespread market access and flexibility for manufacturers and consumers alike.
https://theindustrystats.com/report/cocoa-products-market/22750/