The global cocoa ingredients market is projected to record a CAGR of 4.45% during the forecast period due to increasing popularity of chocolate for gifting purpose followed by potential demand of chocolate from various industries :

Market Research Future has published a cooked research report on the Global Cocoa ingredients Market 


The global cocoa ingredients market is projected to exhibit a CAGR of 4.45% during the forecast period of 2021 to 2028.


Market Research Future has recognized the following companies as the key players in the global cocoa ingredients market: Archer Daniels Midland Company (US), Barry Callebaut (Switzerland), Olam International Ltd. (Singapore), Nestlé S.A. (Switzerland), Mondelēz International Inc (US), The Hershey Company (US), Ferrero SPA (Luxembourg), Chocoladefabriken Lindt & Sprüngli AG (Zürich), SunOpta Inc. (US), and Puratos Group (Belgium).


Market Highlights


The global cocoa ingredients market is projected to be valued at USD 19,737.5  million by 2028, recording a CAGR of 4.45% during the forecast period. Few of the significant reasons for the growth of the global cocoa ingredients market are creative packaging and increasing popularity of chocolate for gifting purpose followed by potential demand of chocolate from various industries. Moreover, growing demand for health & wellness products and growing demand for natural food ingredients are expected to be prime opportunities for market players.


Segmental Analysis


The global cocoa ingredients market has been segmented based on product type, category, application, and region.


By product type, the market has been divided cocoa powder, cocoa liquor, and cocoa butter. The cocoa powder segment accounted for the largest market share in 2020, whereas the cocoa liquid segment is expected to record the highest CAGR of 4.68% during the forecast period. Cocoa powder is an unsweetened powder produced from pressing chocolate liquor, the liquid that comes from grinding the nibs or centers of cocoa beans to separate the cocoa butter. Cocoa powder is one of the most common baking ingredients used in several applications such as cake, cookies, brownies, icing, and chocolates. Cocoa powder is majorly used as a flavor in biscuits, ice cream, dairy drinks, and cakes. Apart from this, it is also used as coatings for confectioneries and frozen desserts. It also has application in the beverage industry.


Based on the category, the global cocoa ingredients market has been classified as conventional and organic. The conventional segment accounted for the largest market share in 2020.  Ease in mass production and affordability of conventional cocoa ingredients has been the driving factor for the growth of conventional cocoa ingredients. However, the segment is expected to exhibit a slower growth rate during the forecast period owing to the shifting consumer preference toward organic food.


Based on application, the global cocoa ingredients market has been segmented into bakery & confectionery, beverages, dairy & frozen desserts, sweet & savory snacks, dips, sauces, & dressings, and others. In terms of value, the bakery & confectionery segment accounted for the largest market share in 2020. Bakery & confectionery is one of the major application segments of cocoa ingredients. It is usually used to add flavor and coloring to bakery products. Cocoa ingredients have numerous applications in bakery and confectionery items such as chocolate, cakes, pastries, brownies, doughnuts, cookies, wafers, biscuits, fillings, frozen bakery products, and baking premixes. The chocolate market continues to expand as manufacturers develop new means of tempting the consumer base to indulge its sweet tooth. This drives the growth of cocoa ingredients as it is the base ingredient for chocolate production and chocolate confectioneries. Also, with constant innovation in bakery industry with growing demand for organic and healthy bakery products, there is huge opportunity for the growth of cocoa ingredients in this segment.


Regional Analysis


On the basis of region, the global cocoa ingredients market has been categorized as North America, Europe, Asia-Pacific, South America and the Middle East & Africa. As per MRFR analysis, Europe constituted a dominant share of the cocoa ingredients market in 2020. Europe is the world's largest manufacturer of chocolate. This region houses confectionery production plants of several multinational companies such as Nestle S.A., Mondelez International, Inc., Mars, Incorporated, Lindt & Sprüngli AG, and Ferrero SA. These large confectionery companies majorly drive the consumption of cocoa ingredients in the Europe region. Also, rising consumer demand for natural ingredients in the food application for flavoring boosts the sales of cocoa ingredients. Moreover, Europe is among the key markets for personal care and cosmetics production, which further contributes to the growth of the cocoa ingredients market in Europe. The Asia-Pacific cocoa ingredients market is projected to register the highest CAGR of 4.75% during the forecast period. Increasing the use of cocoa in snack food and beverages in Asia-Pacific boosts the market growth. Indonesia is also among the key contributor to the growth of cocoa ingredients in this region. Many cocoa companies such as Olam, Musim Mas, and Barry Callebaut have significant acreage plantations in Indonesia. The key players take several initiatives to boost the market growth. For instance, in April 2021, Mondelēz International, Inc. and Olam Food Ingredients collaborated in Indonesia to create the world's single largest sustainable commercial cocoa farm. Many end-use manufacturers are launching chocolate-flavored products in the market owing to high consumer demand. Also, rising disposable income, improved retail distribution, and the growing availability of international brands in the emerging countries is driving the growth of the cocoa ingredients market in the region. 


Key Findings of the Study:



  • The global cocoa ingredients market is projected to register a growth rate of 4.45% from 2021 to 2028.

  • The cocoa powder segment is estimated to retain its prominent share till 2028 whereas, the cocoa liquid segment is projected to record a CAGR of 4.77% during the forecast period.

  • The conventional segment accounted for the largest market share in 2020 and is expected to grow at a rate of 4.34% during the forecast period.

  • The bakery & confectionary segment is estimated to retain its dominant share till 2028, whereas the sweet & savory snacks segment is estimated to register the highest growth rate of 5.06% during the forecast period.