Asia Pacific Cocoa Products Market size was assessed at USD xx.xx million in 2021 and is determined to expand up to USD xx.xx million, recording an annual growth rate (CAGR) of xx.xx% throughout the projection period 2022 - 2027.
Cocoa products often include products like chocolate, cocoa powder, cocoa butter, cocoa liquor, etc. The increasing adoption of cocoa products in industries like personal care and cosmetics has been the critical factor driving this Cocoa Products Market.
Asia Pacific Cocoa Products Market Report Coverage:
REPORT METRIC |
DETAILS |
Market Size Available |
2019 – 2025 |
Base Year |
2019 |
Forecast Period |
2020 - 2025 |
CAGR |
x.x% |
Segments Covered |
By Product Type, By Application |
Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
Countries Covered |
India, China, Japan, Australia, Korea, Singapore |
Market Leaders Profiled |
Indcresa, Altinmarka, Moner Cocoa, S.A., Olam International, Ecuakao Group Ltd, JBCOCOA Sdn. Bhd., Nestle, Kuruvilla & Sons, Touton S.A., Natra, Barry Callebaut, Cargill, and Incorporated |
Market Drivers and Restraints:
The surge in demand for cocoa products in large industrial applications such as confectionery and beverages is accelerating the use of cocoa products, driving the Coc oa Products Market growth in the APAC region. The health benefits associated with cocoa products, such as lowering blood pressure, managing diabetes, and maintaining heart disease, speed up the use of cocoa ingredients in dark chocolates. The rising call for chocolates and related products such as dark chocolates, milk chocolates, etc., has led to an increase in demand for cocoa products. Manufacturers are conducting increasing per capita chocolate consumption and aggressive advertisements and promotional campaigns to attract buyers and are likely to stimulate demand for cocoa products. Also, the use of cocoa butter in the formulation of various cosmetic and personal care products due to its therapeutic properties is expected to further increase the demand for cocoa products in the Asia Pacific during the forecast period. The demand for organic cocoa products has increased rapidly as consumers are increasingly concerned about food safety and the impact of cocoa plantations on the environment. However, the threat to the sustainability of cocoa production, endemic fertilizer use, low soil fertility, and climate change is likely to affect the production of cocoa products during the foreseen period.
The Asia Pacific Cocoa Products Market is segmented by product and application. Depending on the product, the market for cocoa products is segmented into cocoa beans, cocoa butter, cocoa powder and cakes, cocoa and chocolate paste, and liquor. According to the application, the market is divided into confectionery, food and beverage, cosmetics, pharmaceuticals, and others.
Coronavirus pandemic had its worst impact on the food & beverages sector, including all its associated industries like cocoa products. The shutdown of production units, disruption in supply chains, and closure of sales channels as a part of lockdown conditions in several developed and developing nations have led to the declined sales of cocoa products. As the Asia Pacific has been among the most affected areas with the Coronavirus, it witnessed huge losses in almost all industries lately. The market is likely to take some time to recuperate as consumers are turning towards organic and herbal products to boost their immunity during this COVID-19 period.
Regional Analysis
The Asia Pacific Cocoa Products Market has been categorized based on geography into China, Taiwan, South Korea, India, Japan, Australia, and New Zealand, and the rest of the Asia-Pacific. Cocoa Products in China is still in a development stage compared to other developed markets such as Japan and Australia. The rapidly growing middle-class population, urbanization, and changing consumer tastes have contributed to the increased appetite for chocolate in the country. Growing consumer interest in organic products has opened several opportunities for major players in the Chinese market. With this new trend for organic products, several renowned companies and new entrants are introducing innovative flavors, strengthening business in China by bringing more organic chocolate products to end-users.
Leading Company
Olam International had the largest share of the Asia Pacific Cocoa Products Market in terms of sales and revenue in 2020.
Key Players
The Asia Pacific Cocoa Products Market is concentrated with some well-established players that are operating for several years, such as Indcresa., Altinmarka, Moner Cocoa, S.A., Olam International, Ecuakao Group Ltd, JBCOCOA Sdn. Bhd., Nestle, Kuruvilla & Sons, Touton S.A., Natra, Barry Callebaut, Cargill, and Incorporated.
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