Study highlights 5-year growth of cocoa, chocolate

Fair trade advocacy group opposes labeling change

Study highlights 5-year growth of cocoa, chocolate In 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.

Jeremy Gerrard was Food Engineering's Digital/Online Editor. He is a graduate of Auburn University with a degree in journalism. His previous work experience includes years spent as a reporter with the Daily Local News out of Chester County, PA. In addition to writing feature articles for Food Engineering, Jeremy covered the Dry Processing, Field Reports and People and Industry news sections.

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

This provocative multifaceted presentation will delve into the technology affecting food manufacturing and how companies have put it to work for them. More importantly, this session will share how to implement it and make it work for you.

Overcoming the Perfect Storm With Flexibility, Innovation, and State-Of-The-Art Technology

Building a new state-of-the-art Fresh Pack Vegetable Manufacturing Facility that would efficiently meet the evolving external regulatory landscape for frozen vegetables as the FDA evolves the industry to more of a ready-to-eat (RTE) standard which requires additional food safety-related design and practices.

Products

Food Process Engineering and Technology, 3E

Combining scientific depth with practical usefulness, this book serves as a tool for graduate students as well as practicing food engineers, technologists and researchers looking for the latest information on transformation and preservation processes as well as process control and plant hygiene topics.

See More Products