Cocoa Beans Market Size (2024 - 2029)

Cocoa Beans Market Analysis

The Cocoa Beans Market size is estimated at USD 17.24 billion in 2024, and is expected to reach USD 23.97 billion by 2029, growing at a CAGR of 6.81% during the forecast period (2024-2029).

• Cocoa beans are a well-known and profitable cash crop. Cocoa beans have been utilized for ages in a variety of applications and have a strong market demand. These beans have a variety of health benefits and other advantages. As a result, cocoa beans are in great demand as they are widely used in the food and beverage, confectionery, and cosmetic industries. The product finds application in industries such as functional food and beverage, confectionery, pharmaceuticals, and cosmetics. There has been a rising demand for chocolate variants, such as milk chocolate, brownies, and dark chocolate, across the world.
• The world's largest cocoa producer, Cote d'Ivoire produces around 2.2 million metric ton of cocoa beans annually, followed by Ghana, Indonesia, and Nigeria, and accounts 38% of all cocoa bean production worldwide. The national economy is heavily dependent on cocoa prices, and a major amount of the export earnings come from the export of cocoa beans.
• The major producer and exporters of chocolate are in Europe. Because European consumers source cocoa beans of various quality and origins to meet the need of the cocoa and chocolate industries, the European cocoa market is quite diverse. In Europe, 5.0 kilograms of chocolate are consumed on average each person. The coating is becoming increasingly important in processing vegetables, fruits, and cereals for increased flavor, which is expected to drive product demand.

Cocoa Beans Industry Segmentation

The cocoa bean, the seed of the cacao tree (Theobroma cacao), is used to create cocoa and cocoa butter, key ingredients of chocolate. For the purpose of the study, only full beans are considered. The Cocoa Beans Trade Market is segmented by Geography (North America, Europe, Asia- Pacific, South America, and Africa). The report provides an analysis of cocoa beans' import (volume and value) and export (volume and value). The report offers market estimates and forecasts in terms of value(USD million) and volume (metric ton) for all the above segments.