Organic Cocoa Market Analysis | Key Findings, Regional Analysis, Key Players Profiles and Future Prospects
Research Reports
Dec 29, 2020
Market Overview
Global Organic Cocoa Market has witnessed continued demand during the last few years and is projected to reach USD 585 million, globally by 2024. High demand for organic cocoa in functional food and beverages as a flavoring agent, in personal care products and pharmaceuticals based on nutritional properties are driving the global organic cocoa market. Economy development and increasing disposable income are expected to influence the organic cocoa market, positively. One of the major applications of organic cocoa is production of premium chocolate will contribute to the positive growth of this market. In addition, high nutrient content of the product is anticipated to propel the growth of this market.
By 2024, on the basis of application, bakery and confectionery will dominate the market and is evaluated to account for a share of more than 40% in the global market. Bakery and confectionery based application of organic cocoa is evaluated to grow at a CAGR of more than 10% during the given forecast period. Rising health consciousness among the consumers’ is influencing the increasing share of organic cocoa in functional food and beverages based on which it is anticipated to account for a share of more than 20% during the corresponding period. Furthermore, application of organic cocoa in personal care products will witness the highest growth rate based on high demand for premium and organic luxury personal care and skin care products.
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Major Key Players
This report includes a study of strategies such as mergers and acquisitions, product launches by the major organic cocoa market players. It further includes product portfolios, developments of leading major players, which includes:
- Olam (Uganda) Limited (Uganda)
- BT Cocoa (Indonesia)
- Conacado Agroindustrial S.A. (Dominican Republic)
- Barry Callebaut AG (Switzerland)
- Tradin Organic Agriculture B.V. (U.S.)
- Blommer chocolate company (U.S.) and
- Mars Inc. (U.S.)
Regional Analysis:
The Global Organic Cocoa Market is segmented regionally into North America, Europe, Asia Pacific, and Rest of the World (RoW). Latin America is dominating the global organic cocoa production followed by the Middle East & Africa (MEA). Majority of the organic cocoa is exported to Western Europe followed by North America. The U.K and the U.S are the largest manufacturing countries of organic cocoa products in the world since organic chocolate is more popular in the U.K, the U.S and Germany; consumers from those countries owe a significant inclination towards organic chocolates. North America, Asia Pacific, and the Middle East have been exhibiting maximum consumption and production of cocoa products. However, Europe is expected to dominate the global cocoa market in terms of consumption growth in the global organic cocoa market over the forecast period 2017-2023.
Key Findings
Global Organic Cocoa market is projected to reach USD 585 million by 2024 at a growth rate of 12.16%. America will experience the highest growth at a rate of 14.27 during the given forecast period. Application of organic cocoa in personal care products is projected to have the highest growth rate of 13.33%
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