How chocolate producers get cocoa to market | The cocoa market is expected to reach $15.5 billion by 2027

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PORTLAND, OREGON, USA, Sept. 9, 2022 /EINPresswire.com/ — The global cocoa market is growing due to increased chocolate consumption and VSS-compliant manufacturing. However, the market is somewhat constrained by the availability of alternatives to cocoa and the constantly changing price of cocoa beans. On the other hand, the growing interest in specialty chocolate and storytelling as a popular marketing tactic will open new business options.

The global cocoa market generated $12.8 billion in revenue in 2019 and is expected to reach $15.5 billion by 2027, growing at a CAGR of 4.3% from 2021 to 2027, according to a report by Allied MarketResearch. The research offers in-depth analysis of the competitive environment, significant investment pockets, value chain, and changing market dynamics.

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COVID-19 scenario:

The outbreak of the COVID-19 pandemic has had a moderate impact on the global cocoa market.
The pandemic imposed a lockdown, due to which cocoa manufacturing centers were temporarily closed and the entire supply chain was disrupted, especially during the initial phase of the pandemic.
However, the main consumption of cocoa remained stable.
The report offers detailed segmentation of the global cocoa market on the basis of product type, process, nature, quality, application, and region.

Based on nature, the conventional segment held the highest market share in 2020, holding 91% of the total market share, and is expected to maintain its leading status during the forecast period. Additionally, the organic segment is estimated to register the highest CAGR of 5.0% from 2021 to 2027.

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Based on demand, the confectionery segment held the largest market share in 2020, holding more than two-fifths of the total market share, and is expected to maintain its leading status during the forecast period. Moreover, the animal feed segment is expected to register the highest CAGR of 6.1% from 2021 to 2027.

Based on region, Europe contributed the highest share in terms of revenue in 2020, holding more than two-fifths of the total market share, and is expected to maintain its dominant share by 2027. However, the Asia-Pacific region is expected to manifest the fastest CAGR of 4.6% during the forecast period.

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Key global cocoa market players analyzed in the research include Cargill, Inc., Olam International Ltd., Toutan SA, Barry Callebaut AG, The Hershey Company, Guan Chong Cocoa Manufacturer SDN. BHD, Ciranda, Inc., United Cocoa Processor, Inc., Bloomer Chocolate Company and VJ Jindal Cocoa Private Limited.

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Allied Analytics LLP
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