The global cocoa processing market reached a volume of 4.86 million tons in 2020, and it’s expected to exhibit moderate growth during the next five years.
That’s according to the new report titled, "Cocoa Processing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026." The report was created by ResearchAndMarkets.com.
The full report provides an in-depth analysis on the global cocoa market trends and the requirements to start and run a cocoa processing plant.
Major cocoa producers
Cote d'Ivoire and Ghana currently represent the world's two biggest producers of cocoa. The two countries together currently account for nearly 60 percent of the total global cocoa production.
Other major cocoa producers include Indonesia, Nigeria, Ecuador, Brazil and Cameroon. Region-wise, Africa currently accounts for more than 70 percent of the total global cocoa production.
Despite being the largest producer, the region in Africa accounts for less than 21 percent of the total global cocoa processing market.
Europe is largest importer, processor
Though unsuitable for cocoa cultivation, Europe currently represents the world's biggest importer and processer of cocoa.
The competitive landscape of the global cocoa processing industry is currently quite concentrated in nature with the top three players currently accounting for about 40 percent majority of the total global market.
Multiple industries are end users of cocoa
The cocoa bean is the dried and fully fermented fatty seed of the cocoa tree (Theobroma cacao). Cocoa processing involves the conversion of cocoa beans into different forms such as cocoa liquor, cocoa butter, cocoa cakes and cocoa powder. The chocolate industry currently represents the biggest end user of cocoa.
Processed cocoa products, however, have applications in a number of other industries as well.
For instance, cocoa powder is also used to produce chocolate milk, biscuits, ice cream, cakes and a number of other food and beverages. Similarly, cocoa butter is widely used during the production of soaps, cosmetics and pharmaceutical products.
For more information about this report, and how to purchase the full version, visit the Research and Markets website.