The size of the Europe cocoa and chocolate market is expected to be worth USD 14.30 billion in 2024 and grow at a CAGR of 5.37% from 2024 to 2032 to achieve USD 21.74 billion by 2032.
Cocoa and chocolate add flavor, flavor and texture to the product. Cacao is the fermented seed of the cacao tree. Market demand for cocoa and chocolate is increasing as the confectionery sector increases. Cocoa is widely used in the manufacture of chocolate. They have a number of health benefits because they are high in flavonoids that reduce the risk of cardiovascular disease. Cocoa liquor, cocoa butter, and cocoa powder are the cocoa products on the market, while chocolate products come in the form of white, milk, and dark chocolate. The food and beverage industry have made an important contribution to the expansion and development of the Europe Cocoa and Chocolate markets.
The Europe Cocoa and Chocolate market is in the forecast period of 2024 to 2032. The increasing use of cocoa in the manufacture of healthy beverages is expected to provide huge growth opportunities in the near future. Additionally, seasonal and holiday sales are expected to revitalize the cocoa and chocolate markets in the coming years. The Europe Cocoa and Chocolate market is primarily driven by growing consumer awareness of the health benefits of cocoa. The Europe Cocoa and Chocolate market has been driven by the growing demand for chocolate at all ages. Along with well-known brands, the health benefits associated with cocoa and chocolate products, the introduction of new flavors and the increased use of cocoa due to antioxidants, a diverse portfolio of products and brands are some of the factors that can accelerate the growth of Europe Cocoa and Chocolate. On the other hand, new opportunities will be added to the Europe Cocoa and Chocolate markets during the forecast period mentioned above such as the low penetration rate and the increasing use of chocolate as a functional food in fast growing countries. The widespread use of cocoa due to its antioxidant properties and health benefits is expected to be a major growth engine for the Europe Cocoa and Chocolate market. The demand for organic products is drawing the attention of consumers trying to avoid the consumption of harmful chemicals. With the rise of gluten sensitivity diagnoses around the region, gluten-free foods are gaining widespread attention not only among sensitive consumers, but also among health-conscious consumers. The rise in lifestyle health disorders has led consumers to be health conscious and active when it comes to shopping for food. Aiming for a very health-conscious consumer base, manufacturers in the Europe Cocoa and Chocolate market focus on providing innovative and healthy cocoa products that are low in sugar, organic and gluten-free. Additionally, by making cocoa liquor products from non-GMO materials, the Europe Cocoa and Chocolate market is expected to attract health-conscious consumers. The Europe Cocoa and Chocolate market has seen an impressive growth trajectory over the forecast period as Cocoa and Chocolate manufacturers embrace new methods of producing organic and gluten-free products amid an increasing frequency of consumers stopping chocolate consumption. The Europe Cocoa and Chocolate market is expected to report strong growth during the forecast period. The market moves as demand for chocolate and cocoa increases. The increase in chocolate consumption in the food and beverage, cosmetics, confectionery, pharmaceutical and other industries is closely related to the high demand for Europe Cocoa and Chocolate. The increase in disposable income for low-income families presents enormous market opportunities for the main players operating in the Europe Cocoa and Chocolate markets. Online shopping is on the rise and most products are sold through online distribution channels. The expansion of online retail channels is expected to add tremendous growth to Europe Cocoa and Chocolate market. In addition, increased purchasing power of consumers, along with changes in eating habits and increased adoption of healthy lifestyles, are expected to drive the growth of the Europe Cocoa and Chocolate market during the forecast period.
Changes in consumer preferences and the availability of counterfeit products will hamper the growth of the Europe Cocoa and Chocolate market during the forecast period mentioned above. The Europe market for cocoa and chocolate is growing exponentially. Therefore, the lack of sufficient quantities of cocoa beans will hamper the growth of the Europe Cocoa and Chocolate market for years to come. The presence of saturated fats in chocolate and its adverse health effects are displacing consumers' interest towards alternatives such as sandwiches, slowing the growth of the Europe Cocoa and Chocolate market. Rising cocoa prices added economic uncertainty to the international cocoa market, creating challenges for the growth of the Europe Cocoa and Chocolate market over the next decade.
The coronavirus, along with other raw materials, triggered a reaction that lowered the price of Cocoa and Chocolate. The continued spread of the virus can affect cocoa production and logistics. Chocolate manufacturers may experience supply problems in the coming months and this will drive up Cocoa and Chocolate prices. The premium segment of the Europe Cocoa and Chocolate market has been severely affected by low sales volume and supply issues related to quality and certification due to the COVID-19 pandemic. On the other hand, the Europe Cocoa and Chocolate market has become more stable as regulations are relaxed in both exporting and importing countries. Consumer consumption of Cocoa and Chocolate in their homes has seen a sharp increase since the closure.
European consumers are paying more attention to Cocoa and Chocolate quality as health problems associated with cheap Cocoa and Chocolate increase in the region and the popularity of premium cocoa skyrockets. Therefore, European consumers are willing to pay more for Cocoa and Chocolate products that meet their demand. The paradigm shift of European consumers towards high quality Cocoa and Chocolate products, including organic Cocoa and Chocolate, single origin Cocoa and Chocolate, artisan Cocoa and Chocolate and artisan Cocoa and Chocolate, is a major factor driving the Europe Cocoa and Chocolate market in the region. Dark chocolate is in high demand due to its low sugar content and combined with the rich bitter taste of concentrated cocoa. The UK and Germany are some of the most important Cocoa and Chocolate markets in Europe. The young population of the Spanish region represents the main consumers, driving the growth of the Europe Cocoa and Chocolate market. The Europe Cocoa and Chocolate market is further supported by the growth of the food service sector and the added value of the German region. In France, the Europe Cocoa and Chocolate market is very dynamic and has provided a driving force to replace traditional sweets.
Major Key Players in the Europe cocoa and chocolate market are Cargill Incorporated, Cocoa Processing Company Ltd., Blommer Chocolate, Barry Callebaut, Archer Daniels Midland and Meiji Holdings Co. Ltd., Cemoi, Olam International Limited, Puratos Group, Nestlé SA, Mars. Inc, Bunge, ADM, JB Foods Limited, Indcresa, Dutch Cocoa, Plot Enterprise Ghana Ltd, BD Associates Ghana Ltd., Touton SA and Niche Cocoa Industry Ltd.
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