The global cocoa beans market was valued at USD 8.3 billion in 2022 and is projected to expand at a CAGR of 4.2% from 2023 to 2030. Increasing global demand for cocoa beans is primarily driven by the growing demand for high-quality cocoa and chocolate products, mainly from developing countries. Furthermore, the rising population of health-conscious consumers is driving the demand for cocoa-based products, such as cocoa butter, cocoa powder, and cocoa liquor, as they contain healthy ingredients.

Rising demand for dark chocolate, especially among the younger population, is driving the market growth. In addition, the increasing demand for high-quality dark chocolate with a high percentage of cocoa content is further driving the market. Moreover, the increasing demand for organic and Fairtrade cocoa beans is fuelling the growth of the market. Furthermore, the increasing demand for cocoa-based products due to their health benefits is expected to drive the market growth. For instance, cocoa beans are rich in antioxidants, which can aid in reducing inflammation, improving heart health, and decreasing the risk of cancer.

The emergence of the vegan lifestyle has further driven the demand for cocoa-based products. The vegan population is continuously increasing due to rising awareness of the health benefits associated with veganism and the ethical benefits of avoiding animal-based products. Furthermore, the rising disposable incomes of consumers in developed countries, such as the US, Germany, and the UK, and the growing demand for premium chocolate products are further driving the market growth.

Moreover, manufacturers are introducing innovative products with added flavors and ingredients to enhance the taste and appeal of the products. For instance, in June 2021, Barry Callebaut launched the new Ruby chocolate, targeting the millennials. Furthermore, manufacturers are launching new products to meet the demand of consumers. For instance, in November 2021, Mars Wrigley launched a new range of chocolate bars that uses cocoa beans sourced from smallholder farmers in Latin America.

The rising demand for luxury chocolate products is further fuelling the cocoa beans market growth. Manufacturers are launching cocoa-based products with premium flavors to capture the growing demand of luxury chocolate products. For instance, in April 2021, Hershey’s launched a premium chocolate bar collection, featuring cocoa beans sourced from Madagascar, Ghana, and the Dominican Republic.

Cocoa beans accounted for the largest market share and was valued at USD 13.3 billion in 2018. Cocoa beans are mainly used in the production of cocoa butter and cocoa powder. Cocoa powder is used as an ingredient in the production of various food products such as cookies, cakes, and chocolate drinks. The rising demand for organic and fair trade cocoa beans is driving the growth of the market. Furthermore, the increasing demand for organic and dark chocolate is anticipated to drive the cocoa beans market growth over the forecast period.

Cocoa butter is the second largest segment and is anticipated to register a CAGR of 5.3% from 2019 to 2025. Cocoa butter is widely used in the cosmetic industry for the production of various skin care products such as lip balms, lotions, and body creams. Increasing demand for cocoa butter in the production of cosmetics due to its moisturizing and nourishing properties is expected to fuel the market growth. Furthermore, rising demand for chocolate in countries such as India and China is expected to drive the growth of the cocoa butter market.

The retail stores segment accounted for the largest share of the cocoa beans products market in 2022, due to the availability of a wide range of cocoa beans products in the retail stores. Moreover, customers prefer to buy cocoa beans products from retail stores because they can directly experience the product in terms of its color, taste, smell, and texture. Also, the presence of knowledgeable staff in retail stores assists customers in making informed decisions about the product. Furthermore, various promotional activities carried out by product vendors in retail stores, such as discounts and offers, have increased the sales of cocoa beans products.

The online segment is anticipated to expand at the highest CAGR of 10.9% over the forecast period. The growth of the segment is mainly attributed to the rising penetration of the internet and growing use of smartphones and tablets. Moreover, the increasing efficiency of online retailers in terms of delivering products within a short time period has encouraged customers to purchase cocoa beans products from e-commerce websites. In addition, various offers and discounts provided by online retailers have further benefited the segment. Furthermore, increasing awareness among customers about the benefits of buying cocoa beans products from online stores is also driving the segment’s growth.

The plain cocoa beans segment accounted for the largest revenue share of 37.3% in the year 2022. This can be attributed to the increasing demand for plain cocoa beans as a key ingredient in the production of chocolate, confectionery products, and other food items. Furthermore, the growing demand for cocoa butter and cocoa powder for various applications is driving the market for plain cocoa beans.

The cocoa butter segment is anticipated to expand at the highest CAGR of 10.5% over the forecast period. This can be attributed to the increasing demand for cocoa butter in the cosmetic industry for the production of moisturizers, hair care products, and other body care products. Moreover, the increasing preference for chocolates and confectionery items containing cocoa butter is driving the market for cocoa butter.

The Asia Pacific region is expected to dominate the market and accounted for the largest revenue share of over 33.3% in 2022. This is owing to the growing demand for cocoa products in the region, particularly in countries such as India, China, and Indonesia. Furthermore, the increasing population and rising disposable income among the general population are expected to boost the growth of the market in the region. For instance, in April 2021, the Indian government opened up the cocoa sector to private investment, which is expected to increase the availability of cocoa beans in the country.

Europe is expected to account for the second-largest market share in 2022. The presence of leading cocoa producers in the region is expected to drive the market growth. For instance, the Netherlands is one of the largest cocoa producers in Europe and produces around 200,000 metric tons of cocoa beans annually. Furthermore, the increasing demand for cocoa products from countries such as Germany, France, and the U.K. is expected to drive the growth of the market.

In this part of the cocoa beans products business plan we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your cocoa beans products business. Usually, these projections are drafted for a 5-year period.

Revenue Assumptions
The main source of revenues for a cocoa beans products business comes from the sale of cocoa beans, cocoa-based products such as chocolate, cocoa powder, and cocoa-based beverages. Other potential sources of revenue include the sale of cocoa-based recipes, consulting services, franchising, and the sale of advertising space.

Projecting Expenses
In this section, all the regular expenses related to keeping the cocoa beans products business running will be described. The list of operating expenses includes cocoa beans purchase, wages, packaging and shipping costs, utilities, insurance policies, advertising, and others.

Some of the key companies operating in the cocoa beans market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:

– In April 2022, Olam International Limited launched a sustainable cocoa sourcing initiative in Ivory Coast.

– In June 2022, Barry Callebaut launched a new range of high-quality cocoa beans.

– In August 2022, Cargill launched a new range of organic cocoa beans.

Some of the prominent players in the cocoa beans market include:

– Olam International Limited
– Barry Callebaut
– Cargill
– Nestlé
– Blommer Chocolate Company
– The Hershey Company
– Archer Daniels Midland Company
– Mars, Incorporated
– Touton SA
– Ferrero

This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global cocoa beans products market based on product type, application, and region:

1. Product Type Outlook (Revenue, USD Million, 2017 – 2030)

– Natural Cocoa
– Dutch-Processed Cocoa
– Alkalized Cocoa

2. Application Outlook (Revenue, USD Million, 2017 – 2030)

– Food & Beverages
– Cosmetics & Personal Care
– Pharmaceuticals
– Others

3. Regional Outlook (Revenue, USD Million, 2017 – 2030)

– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa

[Q]: What Factors are Driving the Cocoa Beans Products Market?
[A]: The global cocoa beans products market is driven by rising demand for chocolate and cocoa-based products from consumers in developed countries, increasing health consciousness among consumers, and rising disposable income. The increasing trend of veganism is also driving the market. Furthermore, the introduction of new product varieties, such as dark chocolate and new flavors, is expected to boost market growth in the coming years.

[Q]: What is the Potential of Product Innovation?
[A]: Product innovation is expected to have a significant impact on the cocoa beans products market. Companies are focusing on launching innovative products to capitalize on the changing preferences of consumers. For instance, in 2020, Nestlé launched KitKat Chocolatory Ruby in Japan, which is made from ruby cocoa beans. Additionally, Mars Inc. launched a new range of ruby chocolate products, such as the Galaxy Ruby bar and Maltesers Teasers Ruby.

[Q]: Who are the Key Players in the Cocoa Beans Products Market?
[A]: Major players in the cocoa beans products market include Barry Callebaut AG, Mondelez International, Inc., Nestle S.A., Mars, Inc., Cargill, Inc., Olam International, The Hershey Company, and Ferrero Group.

[Q]: Which Region Offers the Largest Opportunity for Sales of Cocoa Beans Products?
[A]: North America is expected to be the most lucrative region for the cocoa beans products market, followed by Europe and Asia Pacific. The market in North America is expected to be mainly driven by increasing demand for premium-grade cocoa beans products from countries such as the US and Canada.