Overview:
The cocoa chocolate market is expecting to touch a valuation of USD 16.61 billion and the chocolate market can reach USD 143.77 billion by the end of the forecast period (2018-2025), Market Research Future (MRFR) in their extensively studied report includes chief drivers and detailed study of segments to deliver reliable prediction about the market future. Among the drivers, its health benefits such as anti-oxidative, anti-inflammatory, and anti-depressant properties are creating much traction. Furthermore, it is getting considerable momentum from the demands generated by sectors such as confectionery and food beverage, pharmaceuticals, and cosmetics.
Segmentation:
The global cocoa chocolate market can be segmented by application.
Segmentation of the cocoa market includes confectionery, food beverages, cosmetics, and pharmaceuticals. The cocoa market can witness a rise by CAGR 3.25% during the forecast period with food beverages reigning supreme. However, confectionery can register the fastest CAGR during the review period.
The chocolate market, on the hand, can grow with 2.12% CAGR during the forecast period with food beverage holding the maximum share and confectionery registering the fastest CAGR.
Regional Analysis:
The global cocoa chocolate market covers North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).
Considering consumption, the cocoa market can grow with a 4.48% CAGR with Europe leading from the front both in terms of value and volume with an estimated USD 7.29 billion valuation and 2,372.5 kilotons production respectively. Whereas the APAC would register the fastest CAGR in both the cases; 5.22% and 4.01% respectively.
The chocolate market can grow substantially with Europe’s market leading from the front with an expected valuation of USD 54.71 billion and 3,159.3 kilotons production during the forecast period. The APAC region would record the fastest CAGR, both volume-wise and value-wise; 2.76% and 3.04% respectively.
Competitive Dashboard:
Strategic implementations such as investment, merger, regulations, research development, acquisition, product launch, expansion, and joint ventures are proving vital for important market influencers. Of these, joint ventures are holding a market share of 42% which gives them the laurel of being appreciated as the most trusted tactical move.
Key competitors influencing the global cocoa chocolate market are Cemoi Chocolatier (France), Republica del Cacao (Ecuador), Nestlé S.A. (Switzerland), Mars Incorporated (U.S.), Irca S.p.A. (Italy), Fuji Oil Holdings Inc. (Japan), Guittard Chocolate Co. (U.S.), Ghirardelli Chocolate Co. (U.S.), Varihona Inc. (France), Barry Callebaut AG (Switzerland), Alpezzi Chocolate SA De CV (Mexico), Kerry Group Plc (Ireland), Olam International Ltd. (Singapore), Tcho Ventures Inc. (U.S.), The Hershey Company (U.S.), Cargill, Incorporated (U.S.), Foley's Candies LP (Canada), Puratos Group Nv (Belgium), Ferrero International S.A. (Italy), and others.
