Chocolate Ingredients / News / Chocolate

Report: Bullish on chocolate and cocoa markets through 2019

Chocolate to reach $132 billion, cocoa to top $2 billion.


Both the world cocoa market and the world chocolate market are expected to grow in the next five years.

That’s according to a new report from MarketsandMarkets, Cocoa & Chocolate Market - Global Trends & Forecasts to 2019For cocoa, specifically, the market size (volume) of cocoa was 3,455,622 metric tons in 2013 and is estimated to grow at a compounded annual growth rate (CAGR) of 3.1 percent from 2014 to 2019. As for the chocolate market, it’s projected to grow at a CAGR of 2.3 percent from 2014 to 2019.

So, by 2019, the world cocoa market is expected be worth about $2.1 billion, and the world chocolate market is expected to be worth about $131.7 billion.

Product innovations are likely to play a key role in increasing the share of the market players, the report says.

The milk and white chocolate segment is estimated to grow at the highest CAGR of 2.4 percent from 2014 to 2019.The cocoa liquor segment dominates the cocoa market in 2013, while cocoa butter segment is expected to grow at a CAGR of 3.8 percent from 2014 to 2019.

Cocoa & Chocolate Market Size(Volume), by Type, 2013
Chocolate market 1

Some of the key players include Cargill (U.S.), Archer Daniels Midland (U.S.), and Barry Callebaut (Switzerland). Moreover, the top five players accounted for the maximum market share in the industry, by market value. The products these companies make are used by food manufacturers.

As for which continents are selling the most chocolate and cocoa, Europe is projected to lead the global market with the highest share in 2014, followed by North America and the Asia-Pacific, in terms of volume.

Europe dominates the cocoa & chocolate market, owing mainly to the largest cocoa processing capacity of the region.

And, Europe is a major processor of cocoa in the global market and is estimated to grow at a CAGR of 2.6 percent from 2014 to 2019. However, the overall cocoa & chocolate industry in the European region has become saturated over the last few years. Consumer awareness pertaining to health benefits has led some of the major innovations in the North American cocoa and chocolate industry.

Moreover, increasing population and disposable income has helped in increasing the penetration of the market in Asia-Pacific. The North American cocoa market is also growing rapidly due to the huge demand for cocoa & chocolate-based products.

The cocoa and chocolate industry has gained a significant position in the food industry by providing taste, color, and texture with several functional benefits. The products are mostly preferred during festive season such as Valentine’s Day, Christmas, and New Year.

Cocoa Market Share, by Application, 2013
Chocolate market 2

The huge demand for cocoa and chocolate in confectionery and food and beverage industries drives the market. But, the promising health benefits of cocoa and chocolate in pharmaceuticals and cosmetics provides enough evidence to encourage manufacturers to consider using such ingredients.

The Cocoa & Chocolate Market report also covers various other important aspects of the market. It includes an analysis of the competitive landscape, and 11 key players of the market have also been profiled.

The 282-page report also identifies the driving and restraining factors for the global market with an analysis of trends, opportunities, winning imperatives, and challenges.

MarketsandMarkets is a global market research and consulting company based in the United States. It publishes strategically analyzed market research reports and serves as a business intelligence partner to Fortune 500 companies across the world.

Did you enjoy this article? Click here to subscribe to Candy Industry

Recent Articles by Crystal Lindell

You must login or register in order to post a comment.



Image Galleries

A Venetian Carnival, a Jelly Belly sculpture and gourmet chocolates! Oh my!

Candy Industry takes you into the French Pastry’s School For the Love of Chocolate event in Chicago, held Feb. 25.

Candy Industry Magazine

Candy March 2015 Cover

March 2015

Check out some Chicago chocolatiers, a YouTube candy review sensation, Columbian cocoa, and more!
Table Of Contents Subscribe

Healthier Food Options

A recent Nielsen report shows that consumers are calling for healthier options from food manufacturers. Do you think consumers will actually buy healthier versions of their favorite candy and snacks if they’re made available?
View Results Poll Archive

Candy Industry Store

M:\General Shared\__AEC Store Katie Z\AEC Store\Images\Candy Industry\natural-food-flavors-colora.gif
Natural Food Flavors and Colorants

Although many foods are appealing, and even perceived as natural, in spite of containing synthetic additives, consumer increasingly prefer food products which are fully natural.

More Products

Candy Industry's Kettle Awards

Kettle Awards

Since 1946, Candy Industry magazine has recognized leaders in the U.S. confectionery industry with the highest recognition possible, the Kettle Award. The distinguished recipients have captured this most coveted award by not only excelling within their companies, but by contributing to the greater good of the industry. It’s virtually a who’s who of past and present professionals who have left their mark as confectioners and business mavens. Learn more about the voting process as well as the annual Kettle Awards Ceremony by visiting our Kettle Awards Website


fb40   twitter 40    youtube40    linked   Google+

Clear Seas Research

Clear SeasWith access to over one million professionals and more than 60 industry-specific publications,Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.