Cocoa Beans Market Size To Reach $23.54 Billion By 2030

Cocoa Beans Market Growth & Trends

The global cocoa beans market size is expected to reach USD 23.54 billion by 2030 registering a CAGR of 8.4%, according to a new report by Grand View Research, Inc. Growing popularity of cocoa beans as polyphenolic functional ingredient on account of their health benefits, such as reduced inflammation and risk of Cardiovascular Diseases (CVDs), better blood circulation, and improved cholesterol levels, is projected to remain a favorable factor. Furthermore, increasing usage of organic personal care products due to their long-lasting skin care benefits is expected to boost the demand for cocoa beans in the cosmetics sector, thereby driving the global market.

Increasing usage of cocoa butter as functional ingredient in the formulation of chocolates is also expected to be one of the key factors augmenting market growth. In addition, new product launches in premium categories including dark chocolate by major confectionery firms like  Mondel?z International, Inc.  is projected to expand the application scope of the product, thereby supporting market growth. On the other hand, pharmaceuticals is expected to remain the fastest-growing application segment from 2024 to 2030.

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Cocoa Beans Market Report Highlights

• The cocoa butter segment dominated the market and accounted for a market revenue share of 55.6% in 2023. The rising consumer preference for natural and organic ingredients in food products proliferates the market.

• The pharmaceuticals segment is expected to register the fastest CAGR during the forecast period. With a rising trend towards holistic and preventative healthcare, there is a strong interest in natural products that complement traditional medicine.

• The online distribution channel is expected to register the fastest CAGR during the forecast period. The rise of online marketplaces and specialty e-commerce platforms dedicated to cocoa and chocolate products has expanded suppliers' market reach and visibility.

• Rising popularity of e-commerce portals, such as Amazon and Chocolate Alchemy, due to increasing number of smartphone users is the key factor driving the cocoa beans market growth

• Asia Pacific cocoa beans market is anticipated to register the fastest CAGR over the forecast period. The rising population and the increasing disposable income levels in many Asian countries have made premium cocoa-based products more affordable and accessible to a more extensive consumer base.

Cocoa Beans Market Segmentation

Grand View Research has segmented the global cocoa beans market based on product, application, distribution channel, and region:

Cocoa Beans Product Outlook (Revenue, USD Million, 2018 - 2030)

• Cocoa Butter

• Cocoa Powder

• Cocoa Liquor

Cocoa Beans Application Outlook (Revenue, USD Million, 2018 - 2030)

• Confectionery

• Functional Foods & Beverages

• Pharmaceuticals

• Cosmetics

Cocoa Beans Distribution Channel Outlook (Revenue, USD Million, 2018 - 2030)

• Hypermarkets & Supermarkets

• Convenience Stores

• Specialty Stores

• Online

• Others

Cocoa Beans Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

• Asia Pacific

  • China

  • Japan

  • India

  • Australia

  • South Korea

• Latin America

  • Brazil

• Middle East and Africa (MEA)

  • South Africa

List of Key Players in Cocoa Beans Market

• Cemoi Chocolatier

• Republica del Cacao

• Nestlé S.A.

• Mars Incorporated

• The Hershey Company

• Cargill, Incorporated

• Barry Callebaut

• Fuji Oil Holdings Inc.

• Ghirardelli Chocolate Company

• Valrhona