QatarBusinessToday.com
No Result
View All Result
  • About Us
  • Contact Us
  • Business
  • Energy
  • Finance
  • Healthcare
  • Real Estate
  • Travel
  • Tech
  • Middle East
  • Press Releases
Submit a Press Release
  • Business
  • Energy
  • Finance
  • Healthcare
  • Real Estate
  • Travel
  • Tech
  • Middle East
  • Press Releases
No Result
View All Result
QatarBusinessToday.com
Submit PR
Home Press Releases

Cocoa Market worth $26.3 and Chocolate Market worth $160.9 billion by 2027

Newsroom by Newsroom
August 24, 2022
Share on FacebookShare on Twitter


(EMAILWIRE.COM, August 24, 2022 ) According to a research report “Cocoa and Chocolate Market by Type (Dark Chocolate, Milk Chocolate, Filled Chocolate, White Chocolate), Application (Food & Beverage, Cosmetics, Pharmaceuticals), Nature (Conventional, Organic), Distribution and Region – Global Forecast to 2027″ published by MarketsandMarkets, the global cocoa market is projected to reach USD 26.3 billion by 2027, growing at a CAGR of 4.5% from 2022 to 2027. The global chocolate market is projected to reach USD 160.9 billion by 2027, growing at a CAGR of 4.7% from 2022 to 2027.

Download PDF brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=226179290

With the growing awareness about health, an increasing number of consumers are prioritizing their health and following specific diets with specific needs. This propels the demand for dark chocolate with high cocoa and less sugar. Cocoa is the major raw material required to manufacture chocolate. The slightest turbulence in the cocoa market would lead to price fluctuations. According to the International Cocoa Organization, the world’s largest supplier of cocoa is Africa, which accounts for 72% of the global production of cocoa. Ivory Coast and Ghana are the major countries producing cocoa, but these countries are also facing certain issues such as fair trade discrepancies, environmental issues, spells of government unrest, and reducing labor force as more population is leaving farming as an occupation and opting other professions Therefore, measures such as implementation of National Cocoa Development Plan (NCDP) in the member countries of ICCO are being undertaken to improve the production of cocoa. Initiatives like these gives a promising outlook towards fulfilling the rising demand for cocoa globally. The cocoa & chocolate market players are showing trends of pursuing both organic as well as inorganic strategies for their expansion, consolidation, and sustainability in the market. Developments and new product launches in chocolate and rise in the use of cocoa for cosmetics and pharmaceuticals are driving the market and is leading to an increased demand for cocoa.

Milk Chocolate segment is the fastest growing among the various types of chocolate during the forecast period

The market for chocolate, based on type, is segmented as dark chocolate, milk chocolate, filled chocolate, and white chocolate. The milk chocolate segment is estimated to dominate the chocolate market in 2022 and is anticipated to witness similar trends throughout the forecast period. Milk chocolate has low level of cocoa solids and is lighter and sweeter than dark chocolate. Dark chocolate segment has witnessed an upwards trend over the years owing to various health benefits associated with it due to the presence of high fiber, high iron, magnesium, potassium, and phosphorous content.

In the cocoa and chocolate market, organic nature segment is registering the highest growth during the forecast period

The cocoa market, based on the nature, is segmented into conventional and organic. In 2022, the conventional cocoa market segment is expected to dominate the market. The conventional cocoa products are easily available at low cost and is widely preferred. Due to the need for organic farming, high labour expenses, maintenance requirements, and other organic cocoa-related operating expenditures, organic cocoa ingredients and products are quite expensive. The organic cocoa segment, however, is estimated to witness a higher growth rate during the forecast period owing to its various health benefits and environment friendliness.

Make an Inquiry: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=226179290

Asia Pacific region is witnessing the highest growth rate in chocolate market

The Asia Pacific region is witnessing the fastest growth rate of 5.72% during the forecast period. The Chinese cocoa market, in terms of volume, is estimated to grow at a CAGR of 6.39%. This is attributed to the strong demand for chocolate in the country. Across Europe, Germany consumed the highest quantity of chocolate in 2021 followed by UK, and Belgium. United States accounted for the largest market share primarily driven by the large consumption of confectionary and bakery items. According to the Observatory of Economic Complexity (OEC), the US was the seventh largest exporter of chocolate in 2020, with key export destinations being Canada, Mexico, South Korea, Australia, and the UK. Growth in this region is attributed to the growing population, rise in per capita income, growing urbanization, and therefore, an increase in demand for chocolate-based products. Additionally, the nutritional benefits of chocolate are promoting the growth of chocolate in the region.

The key players in cocoa and chocolate market include Mars, Inc.(US), Mondelez International (US), Nestle S.A. (Switzerland), Meiji Holding Co. Ltd.(Japan), Ferrero International(Italy), Olam Group (Singapore), Barry Callebaut(Switzerland), Cargill Incorporated (US), Cocoa Processing Company (GHANA), Archer Daniel Midland (ADM) Company (U.S.), Chocoladefabriken Lindt & Sprüngli AG (Switzerland) and Pladis Global(UK) among others.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledgestore” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441



Source link

Previous Post

Ukraine-Qatar trade hits record in 2021, says envoy

Next Post

Enterprise Mobility Management Market To Surpass USD 63.6 billion Threshold By 2026: Exclusive Report by MnM

Related Posts

Air Freight Market is expected to Reach USD 440.16 Billion by 2029 at a CAGR of 5.8 percent
Press Releases

Air Freight Market is expected to Reach USD 440.16 Billion by 2029 at a CAGR of 5.8 percent

September 24, 2023
Blue Cheese Market is expected to Hit USD 12.4 Billion by 2029 at a CAGR of 3.6 percent
Press Releases

Blue Cheese Market is expected to Hit USD 12.4 Billion by 2029 at a CAGR of 3.6 percent

September 24, 2023
Car Crusher Machine Market to Reach USD 3.47 Billion by 2029 at a CAGR of 5.4 percent
Press Releases

Car Crusher Machine Market to Reach USD 3.47 Billion by 2029 at a CAGR of 5.4 percent

September 24, 2023
Meal Kits Market to Reach USD 47.27 Billion by the end of the forecast period at a CAGR of 14.7 percent
Press Releases

Meal Kits Market to Reach USD 47.27 Billion by the end of the forecast period at a CAGR of 14.7 percent

September 23, 2023
Freshwater Fish Market to Reach USD 271.57 Billion by the end of the forecast period at a CAGR of 2.3 percent
Press Releases

Freshwater Fish Market to Reach USD 271.57 Billion by the end of the forecast period at a CAGR of 2.3 percent

September 23, 2023
Application Integration Market to Reach USD 46.21 Billion by 2029 at a CAGR of 20.1 percent
Press Releases

Application Integration Market to Reach USD 46.21 Billion by 2029 at a CAGR of 20.1 percent

September 23, 2023

Recommended Stories

الحدث استقطب على مدار يومين أكثر من 13000 زائراً وشهد تنظيم 47 جلسة حوارية وتقنية شارك فيها 78متحدثاً

2nd Global Project Management Forum Concludes with Great Success

June 14, 2023

Project Qatar offers an array of opportunities in construction sector – The Peninsula

May 29, 2023
Jewel Bearing Market to grow at a CAGR of 6.17 percent to reach USD 4.31 Bn by 2029

Jewel Bearing Market to grow at a CAGR of 6.17 percent to reach USD 4.31 Bn by 2029

April 17, 2023

Popular Stories

  • ZainTech partners with LigaData to deliver data-driven digital services in MENA

    ZainTech partners with LigaData to deliver data-driven digital services in MENA

    0 shares
    Share 0 Tweet 0
  • Exchange goods, vehicles, or property for crypto on Bazaars

    0 shares
    Share 0 Tweet 0
  • Rastec Real Estate holds groundbreaking for mixed-use building project

    0 shares
    Share 0 Tweet 0
  • Qatari Ministry, Meta partnership seeks growth of digital innovation ecosystem

    0 shares
    Share 0 Tweet 0
  • Al Futtaim Group Real Estate partners with TIER Mobility for micro-mobility services at Dubai Festival City – MEConstructionNews.com

    0 shares
    Share 0 Tweet 0

Qatar Business Today™ publishes and aggregates business, socio-economic, Tech and industrial news on Qatar, Middle East and North Africa (MENA)..

Press release distribution services:

We provide press release distribution to media in Qatar, the Arab world and the GCC/MENA regions. Submit a press release today, contact us.

Recent News

.
  • [Citibank] – Top Benefits and Services Provided by Citigold Premier Banking Account
  • Compare Citibank Credit Cards to Find the Most Suitable One
  • What Are Time Deposits? What Are Their Benefits?
  • 4 Reasons Why Credit Cards May Be a Better Choice Than Debit Cards

Categories

Business
Energy
Finance
Healthcare
Real Estate
Travel
Tech
Middle East
Press Releases

Subscribe to Our Newsletter

    Qatar Business Today™ is part of GroupWeb Media Network. © 2023 GroupWeb Media LLC
    • About Us
    • Contact Us
    • Submit a Press Release
    No Result
    View All Result
    • Business
    • Energy
    • Finance
    • Healthcare
    • Real Estate
    • Tech
    • Travel
    • Middle East
    • Press Releases
    • About Us
      • Contact Us
      • Submit a Press Release

    Qatar Business Today™ is part of GroupWeb Media Network. © 2023 GroupWeb Media LLC