Global Cocoa-based Confectionery Market
Global Cocoa-based Confectionery Market was valued at USD 1.8 billion in 2021 and is expected to reach at USD 3.3 billion by 2027 at a CAGR of 8.26% from 2022-2027.
Theobroma cacao, also referred as the cacao tree, is a tropical plant indigenous to the equatorial zones of the Americas. Its seed is known as cocoa or the cocoa bean. To manufacture cocoa liquor, the cacao tree's dried, fermenting seed is transformed into cocoa. The manufacturing of cocoa butter and cocoa powder uses this cocoa liquor. The main basic ingredient required to make chocolate is cocoa liquor. Products made from cocoa, like cocoa butter, cocoa powder, and cocoa liquor, are frequently used to make confections, flavour drinks, top off dishes, and fill pastries.
Market Drivers
Innovations in online retail are one of the major themes influencing how the market for confections made with cocoa will change. Large product distribution channels include convenience stores, specialty shops, supermarkets, drug stores, and hypermarkets. The market for confectioneries made with cocoa has seen increased access thanks in large part to ongoing efforts by retailers and producers to lengthen their supply and distribution chains. The market for confectioneries made with cocoa is strongly impacted by consumers' ongoing desire to sample various ethnic flavours and tastes. Over the years, the cocoa-based industry has moved its attention to manufacturing healthier products. This trend is being encouraged, especially in emerging nations, by a growing population that is health conscious. The emergence of organised retail in developing nations has spurred the market for chocolate-based confections.
The great variety of flavours and textures made with cocoa and the simplicity with which purchases can be made online are key reasons in the growth of e-commerce in the market for cocoa-based confections. Additionally, the global market for cocoa-based confectionery is expanding as more and more beverages and confectionery goods, including cakes, milkshakes, croissants, and hot cocoa-based products, are made using cocoa-based confectionery.
Market Restraints
The market for cocoa-based milk's future expansion will be hindered by the ease with which product equivalents can be found, stringent regulatory laws governing quality standardisation, and supply chain interruptions brought on by the epidemic. The rapid expansion of the market for confectionery made with cocoa will be slowed down by the high cost of R&D initiatives as well as the erratic nature of raw material pricing. Increasing rates of diabetes, high blood sugar levels in patients, and obesity are further market growth bottlenecks.
Impact of COVID-19
The market for confectioneries has been significantly impacted by the COVID-19 outbreak. The confectionery industry has been impacted by the strict regulations and lockdown that were put in place throughout 2020. These provisions have a different impact on the supply of raw materials (agricultural produce, food ingredients, and intermediate food products), trade and logistics, demand-supply volatility, uncertain consumer demand, and the workforce at the industrial level. The downturn in gift-giving and impulsive purchases by consumers around the world was one of the key issues hurting the confectionery business during the lockdown.
Market Segmentation
Global Cocoa-based Confectionery Market is segmented into Cocoa Type, Application and Distribution Channel. By Cocoa Type such as Cocoa Butter, Cocoa Beans, Cocoa Powder, Liquor. By Application such as Food & Beverage, Cosmetics, Confectionery, Pharmaceuticals, Others. By Distribution Channel such as Direct, Indirect.
Regional Analysis
Global Cocoa-based Confectionery Market is segmented into five regions North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Throughout the forecast timeline, Asia-Pacific is anticipated to continue to rule the global market. Growing demand for sugar confectionery goods like chocolates from developing countries like India and China is to blame for this region's expansion. In addition, a rise in consumer health consciousness is anticipated to fuel demand for items made with cocoa in the Asia-Pacific region. Due to growing consumer preference for healthy living and increased spending on nutritional dietary supplements, North America accounts for a sizeable percentage of global revenue. A further factor boosting product penetration in this area is the presence of important manufacturers like Mars Inc., Lindt, and Barry Callebaut.
Key Players
This report includes a list of numerous Key Players, namely Barry Callebaut (Switzerland), Olam International (Singapore), The Hershey Company (U.S.), Nestle SA (U.S.), Ingredion Incorporated (U.S.), Mars, Incorporated (U.S.), DSM (Netherlands), Kerry Group plc (Ireland), Tate & Lyle PLC (U.K.), Cargill, Incorporated (U.S.).
Market Taxonomy
By Cocoa type
By Application
By Distribution channel
By Region
Global Cocoa-based Confectionery Market TOC
1 Introduction
1.1 Objective of the Study
1.2 Market definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Global Cocoa-based Confectionery Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Global Cocoa-based Confectionery Market, By Cocoa Type
5.1 Y-o-Y Growth Comparison, By Cocoa Type
5.2 Global Cocoa-based Confectionery Market Share Analysis, By Cocoa Type
5.3 Global Cocoa-based Confectionery Market Size and Forecast, By Cocoa Type
5.3.1 Cocoa Butter
5.3.2 Cocoa Beans
5.3.3 Cocoa Powder
5.3.4 Liquor
6 Global Cocoa-based Confectionery Market, By Application
6.1 Y-o-Y Growth Comparison, By Application
6.2 Global Cocoa-based Confectionery Market Share Analysis, By Application
6.3 Global Cocoa-based Confectionery Market Size and Forecast, By Application
6.3.1 Food & Beverage
6.3.2 Cosmetics
6.3.3 Confectionery
6.3.4 Pharmaceuticals
6.3.5 Others
7 Global Cocoa-based Confectionery Market, By Distribution channel
7.1 Y-o-Y Growth Comparison, By Distribution channel
7.2 Global Cocoa-based Confectionery Market Share Analysis, By Distribution channel
7.3 Global Cocoa-based Confectionery Market Size and Forecast, By Distribution channel
7.3.1 Direct
7.3.2 Indirect
8 Global Cocoa-based Confectionery Market, By Region
8.1 Global Cocoa-based Confectionery Market Share Analysis, By Region
8.2 Global Cocoa-based Confectionery Market Share Analysis, By Region
8.3 Global Cocoa-based Confectionery Market Size and Forecast, By Region
9 North America Cocoa-based Confectionery Market Analysis and Forecast (2022-2027)
9.1 Introduction
9.2 North America Cocoa-based Confectionery Market Share Analysis, By Cocoa Type
9.3 North America Cocoa-based Confectionery Market Size and Forecast, By Application
9.4 North America Cocoa-based Confectionery Market Size and Forecast, By Distribution channel
9.5 North America Cocoa-based Confectionery Market Size and Forecast, By Country
9.5.1 U.S.
9.5.2 Canada
9.5.3 Mexico
10 Europe Cocoa-based Confectionery Market Analysis and Forecast (2022-2027)
10.1 Introduction
10.2 Europe Cocoa-based Confectionery Market Share Analysis, By Cocoa Type
10.3 Europe Cocoa-based Confectionery Market Size and Forecast, By Application
10.4 Europe Cocoa-based Confectionery Market Size and Forecast, By Distribution channel
10.5 Europe Cocoa-based Confectionery Market Size and Forecast, By Country
10.5.1 Germany
10.5.2 France
10.5.3 UK
10.5.4. Rest of Europe
11 Asia Pacific Cocoa-based Confectionery Market Analysis and Forecast (2022-2027)
11.1 Introduction
11.2 Asia Pacific Cocoa-based Confectionery Market Share Analysis, By Cocoa Type
11.3 Asia Pacific Cocoa-based Confectionery Market Size and Forecast, By Application
11.4 Asia Pacific Cocoa-based Confectionery Market Size and Forecast, By Distribution channel
11.5 Asia Pacific Cocoa-based Confectionery Market Size and Forecast, By Country
11.5.1 China
11.5.2 Japan
11.5.3 India
11.5.4. Rest of Asia Pacific
12 Latin America Cocoa-based Confectionery Market Analysis and Forecast (2022-2027)
12.1 Introduction
12.2 Latin America Cocoa-based Confectionery Market Share Analysis, By Cocoa Type
12.3 Latin America Cocoa-based Confectionery Market Size and Forecast, By Application
12.4 Latin America Cocoa-based Confectionery Market Size and Forecast, By Distribution channel
12.6 Latin America Cocoa-based Confectionery Market Size and Forecast, Country
12.7.1. Brazil
12.8.2. Rest of Latin America
13 Middle East Cocoa-based Confectionery Market Analysis and Forecast (2022-2027)
13.1 Introduction
13.2 Middle East Cocoa-based Confectionery Market Share Analysis, By Cocoa Type
13.3 Middle East Cocoa-based Confectionery Market Size and Forecast, By Application
13.4 Middle East Cocoa-based Confectionery Market Size and Forecast, By Distribution channel
13.6 Middle East Cocoa-based Confectionery Market Size and Forecast, By Country
13.7.1. Saudi Arabia
13.8.2. UAE
13.9.3. Egypt
13.10.4. Kuwait
13.11.5. South Africa
14 Competitive Analysis
14.1 Competition Dashboard
14.2 Market share Analysis of Top Vendors
14.3 Key Development Strategies
15 Company Profiles
15.1 Barry Callebaut
15.1.1 Overview
15.1.2 Offerings
15.1.3 Key Financials
15.1.4 Business Segment & Geographic Overview
15.1.5 Key Market Developments
15.1.6 Key Strategies
15.2 Olam International
15.2.1 Overview
15.2.2 Offerings
15.2.3 Key Financials
15.2.4 Business Segment & Geographic Overview
15.2.5 Key Market Developments
15.2.6 Key Strategies
15.3 The Hershey Company
15.3.1 Overview
15.3.2 Offerings
15.3.3 Key Financials
15.3.4 Business Segment & Geographic Overview
15.3.5 Key Market Developments
15.3.6 Key Strategies
15.4 Nestle SA
15.4.1 Overview
15.4.2 Offerings
15.4.3 Key Financials
15.4.4 Business Segment & Geographic Overview
15.4.5 Key Market Developments
15.4.6 Key Strategies
15.5 Ingredion Incorporated
15.5.1 Overview
15.5.2 Offerings
15.5.3 Key Financials
15.5.4 Business Segment & Geographic Overview
15.5.5 Key Market Developments
15.5.6 Key Strategies
15.6 Mars, Incorporated
15.6.1 Overview
15.6.2 Offerings
15.6.3 Key Financials
15.6.4 Business Segment & Geographic Overview
15.6.5 Key Market Developments
15.6.6 Key Strategies
15.7 DSM
15.7.1 Overview
15.7.2 Offerings
15.7.3 Key Financials
15.7.4 Business Segment & Geographic Overview
15.7.5 Key Market Developments
15.7.6 Key Strategies
15.8 Kerry Group plc
15.8.1 Overview
15.8.2 Offerings
15.8.3 Key Financials
15.8.4 Business Segment & Geographic Overview
15.8.5 Key Market Developments
15.8.6 Key Strategies
15.9 Tate & Lyle PLC
15.9.1 Overview
15.9.2 Offerings
15.9.3 Key Financials
15.9.4 Business Segment & Geographic Overview
15.9.5 Key Market Developments
15.9.6 Key Strategies
15.10 Cargill, Incorporated
15.10.1 Overview
15.10.2 Offerings
15.10.3 Key Financials
15.10.4 Business Segment & Geographic Overview
15.10.5 Key Market Developments
15.10.6 Key Strategies
