Cocoa Bean Market to reach $26.75 Bn by 2032, Says Global Market Insights Inc.

Selbyville, Delaware, Nov. 06, 2024 (GLOBE NEWSWIRE) —

The cocoa bean market valuation is predicted to exceed USD 26.75 billion by 2032, reported in a research analysis by Global Market Insights Inc.

Blockchain technology is being embraced for traceability, bolstering transparency in supply chains and championing fair trade practices. Concurrently, advancements in genetic research are yielding cocoa varieties that are both disease-resistant and higher-yielding. Furthermore, innovations in processing techniques, such as enhanced extraction methods for cocoa butter and powder, are fine-tuning flavor profiles and product quality, aligning with the rising consumer appetite for premium and functional cocoa offerings.

The industry trends highlight a burgeoning preference for premium and artisanal chocolates, spurred by consumer demand for high-quality, ethically sourced items. Sustainability is taking center stage, with an increasing number of brands securing fair trade and organic certifications. Looking ahead, there is a burgeoning interest in plant-based and functional cocoa products, including health-centric cocoa powders and supplements.

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The cocoa bean market from the cocoa powder segment is set to capture USD 12.17 billion and showcase a 6.5% CAGR through 2032. This is attributed to its widespread application in chocolates, baked goods, and beverages. Its versatility, cost-effectiveness, and flavor-enhancing properties solidify its status as a fundamental ingredient in both industrial and consumer domains. The demand for cocoa powder is further bolstered by its pivotal role in confectionery, dairy products, flavored beverages, and its allure in health and wellness circles due to its antioxidant benefits.

When examining bean types, the forastero segment of the cocoa bean market is projected to reach USD 17.47 billion, with a 6.5% CAGR up to 2032. This growth is attributed to forastero beans’ high yield and strong disease resistance, establishing them as the most cultivated variety. Primarily cultivated in West Africa, especially in Ivory Coast and Ghana, forastero beans represent about 80% of global production. Their pronounced, often bitter flavor profile caters well to mass-market chocolate products and industrial applications, cementing their dominance in the cocoa landscape.

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Europe cocoa bean market is on track to achieve a valuation of USD 9.63 billion by 2032, with a projected CAGR of 6.6%. This growth is largely driven by Europe’s pivotal role in both chocolate production and consumption. With major confectionery brands and a notably high per capita chocolate consumption, Europe plays a significant role in shaping global demand. Notably, countries like Belgium, Switzerland, and Germany are celebrated for their premium chocolate offerings, further amplifying the market expansion.

Partial chapters of report table of contents (TOC):

Chapter 1   Methodology & Scope

1.1    Market scope & definition

1.2    Base estimates & calculations

1.3    Forecast calculation

1.4    Data sources

1.4.1    Primary

1.4.2    Data Mining Sources

1.4.2.1    Paid sources

1.4.2.2    Public sources

Chapter 2   Executive Summary

2.1    Industry 360⁰ synopsis

Chapter 3   Cocoa Bean Market Insights

3.1    Industry ecosystem analysis

3.1.1    Value chain

3.1.2    Key manufacturers

3.1.3    Go to market routes

3.1.4    Key distributors

3.1.4.1    New distribution channels

3.1.5    Profit margins across the industry

3.2    Industry impact forces

3.2.1    Growth drivers

3.2.1.1    Rising demand for chocolate and confectionery

3.2.1.2    Increasing popularity of plant-based and organic products

3.2.1.3    Growing awareness of cocoa’s health benefits

3.2.2    Market challenges

3.2.2.1    Fluctuating cocoa prices

3.2.2.2    Supply chain disruptions

3.2.3    Market opportunities

3.2.3.1    New markets/applications

3.2.3.2    Growth potential analysis

3.3    Raw material landscape

3.3.1    Manufacturing trends

3.3.1.1    Technology evolution

3.3.1.2    Sustainable manufacturing

3.3.1.2.1    Green practices

3.3.1.2.2    Decarbonization

3.3.2    New raw materials

3.3.3    Raw material pricing trends (USD/Kilo Tons)

3.3.3.1    North America

3.3.3.2    Europe

3.3.3.3    Asia Pacific

3.3.3.4    Latin America

3.3.3.5    MEA

3.4    Regulations & market impact

3.5    Porter’s analysis

3.6    PESTEL analysis

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About Global Market Insights Inc.

Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

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