The global cocoa beans market is expected to reach USD billion by 2021 from USD 13.38 billion in 2015, registering a double digit growth of during the forecasted period from 2016 to 2021. Cocoa beans are primarily used as raw material for chocolate and 90% of the global cocoa beans produced are consumed for chocolate production. On an average, around 4 million metric tons of cocoa beans are produced each year. Global production of cocoa beans during 2015 was 4.36 million metric tons. The international market prices of cocoa are very volatile and changes variably with demand and supply. It is forecasted that during 2016 the crop prices will go down due to expected surplus supplies. However, the low prices will drive the demand in the coming years with expected changes in product pipelines of major confectionery companies. The high prices in 2015 has led to lesser profits in grinding which in turn forced grinding companies to close their operations at various places.
The cocoa beans has captured the attention of consumers from around the world, due to fast growth of chocolate confectionary market. The same is the major factor driving the market growth. Other than chocolate confectionary market factors stimulating the market growth include increasing disposable income among middle class and increasing popularity of cocoa based products like cocoa beverages and cocoa powder. However, the commodity price fluctuation, pest and diseases, low productivity, high dependence on seasons and environmental conditions and high cost of farm inputs are restraining the market growth.
This market can be broadly segmented by bean type into organic cocoa bean market and inorganic cocoa bean market. Currently, the market is dominated by the inorganic cocoa bean, however, in the coming years, the demand of organic cocoa bean is going to increase globally.
Africa is the largest producer of the commodity accounting for 72% of the production followed by Latin America (XX %) and Asia Pacific (XX %). Europe is the largest consumer and importer followed by North America. Major cocoa bean exporting countries include Ivory Coast, Ghana, Nigeria, Cameroon, Brazil, Ecuador, Colombia, Indonesia and Malaysia among others. Although the production of beans is dominated in Africa, Latin America and Asia Pacific; the major grinding facilities are placed in the Americas and Europe.
Key Deliverables in the Study
1) Market analysis for the Global Cocoa Beans Market, with region-specific assessments and competition analysis on global and regional scales
2) Market definition along with the identification of key drivers and restraints
3) Identification of factors instrumental in changing the market scenarios, rising prospective opportunities and identification of key companies that can influence this market on global and regional scales
4) Extensively-researched competitive landscape section with profiles of major companies and their market shares
5) Identification and analysis of the macro and micro factors that affect the Global Noble Gas market on both global and regional scales
6) A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information
7) A wide-ranging knowledge and insights about the major players in this industry and key strategies adopted by them to sustain and grow in the studied market
8) Insights on the major countries/industry is booming to identify the regions that are still untapped
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