Increase in demand for chocolates across the world and rise in demand from Europe and North America regions fuel the global cocoa market growth. Europe held the highest market share in 2019, and is expected to continue its dominant share in terms of revenue throughout the forecast period. Manufacturing activities of various types of cocoa have been restrained due to shut down of facilities during the lockdown.

Portland, OR, April 15, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global cocoa market garnered $12.87 billion in 2019, and is estimated to generate $15.50 billion by 2027, manifesting a CAGR of 4.3% from 2021 to 2027. The report provides an extensive analysis of changing market dynamics, key segments, value chain, top investment pockets, regional landscape, and competitive scenario.

Increase in demand for chocolates across the world and rise in demand from Europe and North America regions fuel the global cocoa market growth. However, presence of substitute products and varying prices restrain the market growth. On the other hand, surge in demand for specialty cocoa and innovative marketing strategies create new opportunities in the next few years.

In-depth analysis of the COVID-19 impact on the Cocoa Market @ https://www.alliedmarketresearch.com/request-for-customization/11372?reqfor=covid

Covid-19 Scenario:

• Manufacturing activities of various types of cocoa have been restrained due to shut down of facilities during the lockdown. Furthermore, shortage of raw material took place and the disruptions in supply chain occurred.
• Cocoa is used as a flavoring and coloring agent in different industries such as confectionery, food & beverages, and bakery. As shops and production facilities in these industries were closed down, the demand declined considerably.
• Chocolate manufacturing facilities were shut down during the lockdown in many countries. This led to reduction in cocoa demand. However, the demand is expected to grow gradually during the post-lockdown.

The report provides detailed segmentation of the global cocoa market based on product type, process, nature, quality, application, and region.

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By product type, the cocoa liquor segment accounted for the largest share in 2019, contributing to nearly two-fifths of the total market share, and is expected to maintain its lead position throughout the forecast period. Moreover, this segment is expected to witness the fastest CAGR of 4.4% from 2021 to 2027. The report also discusses segments such as cocoa butter and cocoa powder.

By process, the dutch process segment held the highest market share in 2019, accounting for more than three-fourths of the global cocoa market, and is estimated to maintain its leadership status during the forecast period. In addition, this segment is projected to portray the highest CAGR of 4.3% from 2021 to 2027. The research also analyzes the natural process segment.

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By region, Europe held the highest market share in 2019, contributing to more than two-fifths of the total share, and is expected to continue its dominant share in terms of revenue throughout the forecast period. In addition, this region would register the largest CAGR of 4.5% from 2021 to 2027. The report also analyzes regions including North America, Asia-Pacific, and LAMEA.

Leading players of the global cocoa market analyzed in the research include Cargill, Inc., Toutan S.A., Olam International Ltd., The Hershey Company, Barry Callebaut AG, Ciranda, Inc., Guan Chong Cocoa Manufacturer SDN. BHD, Bloomer Chocolate Company, United Cocoa Processor, Inc., and VJ Jindal Cocoa Private Limited.

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