Cocoa and chocolate are two components of a variety of food products commonly consumed around the world. Cocoa is the seed of the cacao tree, which grows in hot climates such as South America, Central America and Africa. The seed is roasted and ground into a paste which, when mixed with sugar, milk and other ingredients, becomes chocolate.
Chocolate is produced from cocoa liquor, which is made up of cocoa solids and cocoa butter. Depending on the amount of cocoa liquor, types of chocolate range from milk to dark. Chocolate is used in a variety of foods, including candy bars, baking items like cookies and cakes, and beverages such as hot chocolate and frappe. Chocolate products are among the most popular and widely consumed products in the world.
Overall, the global market for chocolate and cocoa products continues to grow. This growth is being driven by increasing consumer demand around the world, as well as a greater focus on the health benefits of cocoa products. The total retail sales of chocolate and cocoa products worldwide was estimated to exceed $94 billion in 2019.
The global Cocoa & Chocolate market was valued at US$ 58370 million in 2022 and is anticipated to reach US$ 78120 million by 2029, witnessing a CAGR of 4.2% during the forecast period 2023-2029. The influence of COVID-19 and the Netherlands-Ukraine War were considered while estimating market sizes.
A detailed market research report on Global Cocoa & Chocolate Market available at: https://www.themarketreports.com/report/global-cocoa-chocolate-market-research-report
This report aims to provide a comprehensive presentation of the global market for Cocoa & Chocolate, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Cocoa & Chocolate.
Global Cocoa & Chocolate key players include Barry Callebaut, Cargill, Nestle SA, Mars, Blommer Chocolate Company, etc. Global top five manufacturers hold a share about 50%. Europe is the largest market, with a share about 35%, followed by North America and Southeast Asia, total with a share about 35 percent. In terms of product, Chocolate is the largest segment, with a share about 70%. And in terms of application, the largest application is Confectionery, followed by Food & Beverage, Cosmetics, Pharmaceuticals, etc.
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