Cocoa Beans Market
Report ID: SQMIG30I2440
Report ID: SQMIG30I2440
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Report ID:
SQMIG30I2440 |
Region:
Global |
Published Date: February, 2025
Pages:
188
|Tables:
93
|Figures:
70
Cocoa beans Market size was valued at USD 14.67 Billion in 2024 and is poised to grow from USD 15.95 Billion in 2025 to USD 31.09 Billion by 2033, growing at a CAGR of 8.7% during the forecast period (2026–2033).
Surging demand for chocolates, extensive use of cocoa products in food and beverage industry, rising awareness regarding health benefits of cocoa consumption, use of cocoa in personal care and cosmetics, and preference for premium chocolates are slated to bolster the sales of cocoa beans in the future.
Rapidly increasing consumption of chocolate and other cocoa-based products around the world is slated to primarily augment the global cocoa beans market growth. Extensive use of cocoa beans in the food and beverage industry for dairy, bakery, beverages, and nutritional supplements is also forecasted to create new opportunities for cocoa bean suppliers in the long run.
Cocoa beans are rich in antioxidants, flavonoids, and other beneficial compounds thereby leading to their high adoption in functional foods and nutritional supplements. Rising popularity and preference for dark and premium chocolates with higher cocoa content is also expected to offer new business scope for cocoa beans providers. Rapidly increasing adoption of cocoa butter in multiple personal care and cosmetic products owing to its moisturizing and anti-aging properties is also slated to benefit market development.
High consumer preference and demand for ethically sourced and environmentally friendly cocoa is expected to bolster the adoption of sustainable and organic farming practices among cocoa farmers going forward. Rising sales of premium and artisanal chocolates are also expected to help cocoa bean vendors to maximize their sales potential through 2032. On the contrary, climate change and weather issues, volatility in cocoa prices, social and ethical concerns regarding cocoa sourcing, high production costs, and competition from cocoa alternatives are estimated to impede the sales of cocoa beans across the forecast period and beyond.
In March 2024, Nestlé, a renowned Swiss multinational food and drinks processing company announced the launch of two new projects in collaboration with Cargill and Beyond Beans. The collaboration is aimed at promoting the adoption of sustainable farming practices among cocoa farmers. The projects are also expected to focus on reforestation in areas surrounding cocoa farming communities and adoption of regenerative agriculture practices. Nestlé also has plans of distributing multi-purpose shade tree species to farmers and providing cocoa farmers with training on tree planting and pruning techniques as well.
In March 2024, Nestlé launched its new KitKat chocolate made from cocoa beans sourced from farmers engaged in its Income Accelerator Program. KitKat’s new Destination Packs, KitKat Chunky, Mini Mix and its popular Sharing Bag available in European retail are all expected to use sustainably sourced cocoa going forward.
In November 2024, HAPA Chocolat, a small chocolate business owned by Charlotte Kryska launched a new online bean-to-bar business using cocoa beans from South America and East Africa. Kryska is known for her chocolate bars made from high-quality cocoa beans. Spice cake with cinnamon, ginger and clove and cacao sourced from Ecuador; Cherry on Top from Dominican Republic; toasted almond praline from Colombia; and MBP, with mango, banana and pineapple, and cacao from Uganda are some of her most popular offerings.
In July 2022, La Folie, a leading supplier of premium chocolates announced the launch of a new premium dark chocolate thins collection. The new limited-edition collection is made from the finest cocoa beans sourced from Peru, Madagascar, and India and created by Chef Sanjana Patel. Gran Nativo Blanco from Peru, MAVA Antsamal from Madagascar, and Idukki Cacao from India cocoa bean varieties were used for this new limited edition chocolate collection.
Launching new cocoa-based products and improving cocoa farming practices are expected to generate attractive opportunities for market players. Emphasis on the incorporation of sustainability in cocoa bean farming and processing is slated to be the prime focus of major companies. Collaborations and mergers are also slated to be key strategies to help cocoa bean providers expand their business scope on a global level in the long run.
Market snapshot - 2026-2033
Global Market Size
USD 13.5 billion
Largest Segment
Cocoa Butter
Fastest Growth
Cocoa Powder
Growth Rate
8.7% CAGR
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Global Cocoa beans Market is segmented by Product, Bean Type, Nature, Application, Distribution Channel and region. Based on Product, the market is segmented into Cocoa Butter, Cocoa Powder and Cocoa Liquor. Based on Bean Type, the market is segmented into Forastero, Trinitario and Criollo. Based on Nature, the market is segmented into Conventional and Organic. Based on Application, the market is segmented into Confectionery, Functional Foods & Beverages, Pharmaceuticals and Cosmetics. Based on Distribution Channel, the market is segmented into Hypermarkets & Supermarkets, Convenience Stores, Specialty Stores, Online and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Analysis by Product
Cocoa butter is estimated to currently account for a dominant global cocoa beans market share. Rapidly increasing demand for natural and organic ingredients in cosmetics and personal care are slated to help this segment hold sway over others. Increasing health consciousness among consumers and rising awareness regarding the moisturizing and anti-aging properties of cocoa butter are also expected to offer new business scope for cocoa bean vendors going forward. Apart from this, extensive use of cocoa butter in food and beverage products to enhance the mouthfeel, texture, and flavor is also slated to cement the high share of this segment through 2032.
Meanwhile, the sales of cocoa powder are estimated to rise at a notable pace over the coming years. Surging consumption of chocolates around the world is primarily helping generate new opportunities in this segment. Cocoa powder is packed with polyphenols and flavonoids that could help improve the heart health of consumers thereby promoting its consumption. Increasing use of cocoa powder in baking, confectionary, and dairy products is also expected to offer new opportunities for cocoa bean companies focusing on cocoa powder production. Increasing the production of high-quality cocoa powder can help cocoa bean companies boost their revenue generation potential in the long run.
Analysis by Application
The confectionery segment is slated to bring in the most revenue for the global cocoa beans industry. Surging demand for high-quality cocoa beans for the production of artisanal and premium chocolates is expected to help this segment maintain its dominant stance in the future. Cocoa beans are also highly essential in providing chocolate flavor to multiple confectionery products. Rising consumer preference for chocolate flavor products and the increasing popularity of chocolate cakes are also slated to bolster the demand for cocoa beans in this segment over the coming years.
On the other hand, the use of cocoa beans in pharmaceuticals is slated to rise at an impressive CAGR across the study period. Growing preference for natural ingredients in pharmaceuticals and rising awareness regarding health benefits of cocoa are promoting the sales of cocoa beans via this segment. The ability of cocoa beans and products to enhance heart health, manage blood pressure, and improve mood is also expected to create new opportunities for cocoa bean suppliers focusing on pharmaceutical applications in the future. Cocoa extracts derived from beans are slated to be more widely adopted in pharmaceuticals going forward.
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North America is anticipated to account for a substantial global cocoa beans market share going forward. Surging demand for high-quality gourmet chocolates, presence of multiple artisanal and premium chocolate manufacturers, and high per capita chocolate consumption in countries of this region are slated to cement its dominance through 2032.
The United States is slated to spearhead the consumption of cocoa beans in this region owing to the surge in popularity of craft chocolates, extensive use of chocolate in different food and beverages, and rising willingness of consumers to spend more on premium chocolate experiences.
The Asia Pacific region is predicted to come up as the fastest expanding regional market for cocoa beans suppliers in the long run. Evolving consumer preferences, rising awareness regarding the health benefits of chocolate consumption, and growing availability of different cocoa-based products are offering new opportunities in this region.
Increasing urbanization, high disposable income, and growing cultivation of cocoa beans are expected to make India a highly rewarding country for cocoa bean suppliers operating in the Asia Pacific. Increasing exposure of Asian consumers to international chocolate brands is also expected to boost sales of cocoa beans in India as well as China.
Europe is also expected to emerge as an opportune market for cocoa bean vendors in the future. The presence of an innovative confectionery industry, the growing popularity of cocoa-infused beverages, and changing dietary preferences are helping this region boost sales of cocoa beans going forward.
The United Kingdom is slated to emerge as a vital market for cocoa bean companies in Europe owing to high per capita chocolate consumption, growing demand for dark chocolate for its health benefits, and emphasis on creation of artisanal chocolates. France, Belgium, Switzerland, and the Netherlands are other highly opportune market for cocoa bean suppliers operating in the European region.
The Middle East and Africa region is also expected to present new opportunities for cocoa bean companies over the coming years. The presence of leading cocoa bean producers in this region coupled with surging consumption of chocolate helping create new opportunities in this region. The aging of cocoa trees in West Africa has had a significant impact on global cocoa bean production as they produce less fruit in their aging process. Environmental and economic issues in Ghana are also leading to reduced global sales of cocoa beans. Resolving these issues will be crucial for cocoa bean companies to enhance their business scope not only in this region but on a global level as well.
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Cocoa beans Market Drivers
Government Support for Cocoa Farming
High Demand for Premium and Craft Chocolate
Cocoa beans Market Restraints
Climate Change Issues
Volatility in Cocoa Prices
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Cocoa bean companies should focus on enhancing their production potential to boost their business scope. Expanding into emerging markets where the popularity of mushrooms is rising can also help boost the sales of cocoa beans in the long run. Providing unique and innovative cocoa beans products can also help companies stand out from the competition as per this global cocoa beans market analysis.
Top Player’s Company Profiles
Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, surging demand for chocolates, government support for cocoa farming, and high use of cocoa-based products in different industry verticals are slated to favor the sales of cocoa beans through 2032. However, climate change issues and volatility in cocoa pricing are forecasted to impede the demand for cocoa beans in the long run. North America is anticipated to emerge as the dominant market for cocoa bean companies owing to high consumption of premium chocolates and high per capita chocolate consumption in countries such as the United States. Demand for dark chocolates and preference for sustainably sourced cocoa products are expected to present new business scope for cocoa bean vendors across the forecast period and beyond.
| Report Metric | Details |
|---|---|
| Market size value in 2024 | USD 14.67 Billion |
| Market size value in 2033 | USD 31.09 Billion |
| Growth Rate | 8.7% |
| Base year | 2024 |
| Forecast period | 2026-2033 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
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| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
Methodology
For the Cocoa Beans Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Cocoa Beans Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Cocoa Beans Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Cocoa Beans Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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