DUBLIN, June 14, 2021 /PRNewswire/ — The “Cocoa Market by Product Type, Process, Nature, Quality and Application: Global Opportunity Analysis and Industry Forecast 2021-2027” report has been added to ResearchAndMarkets.com’s offering.
The global cocoa market size was valued at $12,874.0 million in 2019, and is estimated to reach $15,501.1 million by 2027, registering a CAGR of 4.3% from 2021 to 2027.
Cocoa is obtained from a tropical plant called Theobroma cacao or cacao tree. The major cocoa producing nations include Cote d’Ivoire, Ghana, Nigeria, Ecuador, and Cameroon. The cocoa bean is dried and fermented to produce cocoa liquor or chocolate liquor. It is the key raw material for producing chocolates. The growing consumption of chocolates is boosting the demand for cocoa in the global market. Chocolate is perceived to be a premium luxury since ancient times, due to its sweet taste and aroma. It also offers various health benefits such as reduction of cholesterol levels and reducing the risk of cardiovascular problems. Chocolate is a rich source of antioxidants and minerals. It also helps in maintaining body weight. These factors are boosting the demand for chocolate globally and ultimately fueling the growth of the global cocoa market during the forecast period.
Cocoa butter and cocoa powder are produced from cocoa liquor. The cocoa powder and cocoa butter are now increasingly used in various industries such as pharmaceuticals, bakery, food & beverages,…