Latest headlines

Study highlights 5-year growth of cocoa, chocolate

August 19, 2014
/ Print / Reprints /
ShareMore
/ Text Size+

Study highlights 5-year growth of cocoa, chocolateIn five years, the global cocoa market is projected to be worth $2.1 billion while the market for chocolate will reach $131.7 billion in 2019, according to a new report from researchers MarketsandMarkets.

The report analyzes the cocoa and chocolate market by geography (Asia-Pacific, Europe, North America, rest of the world), type (cocoa butter/powder/liquid, white/dark/milk chocolate), and application (food and beverage, pharmaceuticals, cosmetics, confectionary).

Researchers say cocoa and chocolate-based products are gaining momentum because of their health benefits and as a substitute for sweets.

This report estimates the global cocoa and chocolate market size, in terms of volume and discusses the market drivers, restraints, and opportunities. According to MarketsandMarkets, the report also “tracks the recent strategic activities of market players such as product launches, expansion plans, supply contracts, and partnerships and collaborations.”

Ten key market players, including Cargill, Archer Daniels Midland, Nestle S.A and Barry Callebaut, are identified in the report.

Researchers say Europe dominates the market primarily because it has the largest cocoa processing capacity. Despite this, an increasing population and more disposable income are contributing to the growing market in Asia, specifically China and India. Demand for cocoa and chocolate-based products continues to grow at a rapid pace in North America.

According to MarketsandMarkets, the cocoa market is expected to have a compound annual growth rate (CAGR) of 3.1 percent from 2014 to 2019, and the chocolate market is estimated to grow at a CAGR of 2.3 percent during the same period.

Milk and white chocolate is expected to have the highest annual growth rate while cocoa liquor led the cocoa market in 2013. Europe is the leading consumer of cocoa, followed by North America.

The full report can be found here.

Did you enjoy this article? Click here to subscribe to Food Engineering Magazine.

Recent Articles by Jeremy Gerrard

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

Multimedia

Videos

Image Galleries

Plant of the Year 2014

Blue Diamond Growers was chosen as Food Engineering's 2014 Plant of the Year. The Sacramento-based company is the world’s largest producer of almonds and almond ingredients.

Podcasts

Burns & McDonnell project manager RJ Hope and senior project engineer Justin Hamilton discuss the distinctions between Food Safety and Food Defense as well as the implications for food manufacturers of the Food Safety Modernization Act.
More Podcasts

FSMA Audit

What is the is most important step you have taken to become ready for a FSMA audit?
View Results Poll Archive

Food Engineering

FE September 2014

2014 September

The September 2014 issue of Food Engineering explores how lean manufacturing, quality improvements and increased automation helps processors meet rapidly changing demands. Also, read how robotics, advanced machine controls, software and OEE are just a few of the tools that can boost productivity on packaging lines.

Table Of Contents Subscribe

THE FOOD ENGINEERING STORE

Food-Authentication-Flyer-(.gif
Food Authentication Using Bioorganic Molecules

This text provides critical tools and data needed to augment routine food analysis and enhance food safety by aiding in the detection of counterfeit, and potentially deleterious, foods.

More Products

Clear Seas Research

Clear Seas ResearchWith 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.

Food Master

Food Master Cover 2014Food Master 2014 is now available!

Where the buying process begins in the food and beverage manufacturing market. 

Visit www.foodmaster.com to learn more.

STAY CONNECTED

FE recent tweets

facebook_40.pngtwitter_40px.pngyoutube_40px.png linkedin_40px.pngGoogle +