Cocoa Solids Market Size, Share & Industry Analysis, By Nature (Organic, Conventional), By Application (Food & Beverages, Beauty Products, Others) and Regional Forecast, 2024-2032

The dynamic increase in demand for cocoa solids arising from end-user industries, especially the chocolate confectionery sector is expected to drive the global cocoa solids market in the forthcoming years. The rising consumer expenditure on indulgent confectionery products especially chocolate confectionery products within developed as well as developing regions is anticipated to boost the demand for cocoa solids from confectionary. Moreover, the increasing demand for premiumized and specialty chocolates from affluent consumers has a positive impact on the rapid expansion of chocolate confectionery within developed regions. This factor is predicted to escalate global cocoa solids market growth.

The increasing awareness about health benefits associated with cocoa solids consumption because of their high flavonoid content is expected to further propel the market growth. Cocoa solids and its related products are rich sources of antioxidant flavonoids, cocoa consumption is associated with their capacity to improve lipid levels and effect of cocoa solids in the prevention of cardiovascular disease, insulin sensitivity, and to reduce platelet activation and function. Antioxidants present in cocoa solids significantly contribute to many health-promoting activities. The prominent players operating in the market are embarking upon the technological innovations and new product development to increase their premiumized product portfolio.

The increasing demand for premiumized chocolates which are low in calories and fat content is anticipated to drive the global market of cocoa solids. The increasing application of chocolates as a food coating agent, food inclusion, and filling is predicted to boost the demand for cocoa solids from chocolate confectionery. For instance, in November 2019, Ferrero expands its Nutella Biscuit to Italy, and earlier in April Ferrero launch this biscuit in France market. The Nutella Biscuits are filled with chocolate and hazelnut spread. The robust trend of healthy snacking is accompanied by increasing demand for customized and indulgent offerings with chocolate flavor. The increasing number of artisanal chocolate bakery and its growing popularity among consumers is predicted to boost the demand for cocoa solids in the upcoming years. Moreover, the rising utilization of cocoa solids from the cosmetics industry and personal care manufacturers is anticipated to further propel the market growth. 

The limited production of raw material i.e. cocoa beans is anticipated to hamper the market growth. The fluctuating prices of cocoa solids are expected to restrain the market growth in forthcoming years.

Key Players Covered:

The prominent players operating in the global cocoa solids market are Cargill Cocoa & Chocolate, Organic Commodity Products Inc., Wilbur Chocolate Company Inc., Belcolade NV, Kraft Foods Inc., Petra Foods Limited, Dutch Cocoa B.V, Blommer Chocolate Company, Ferrero S.P.A., Guan Chong Cocoa Manufacturer Sdn. Bhd., and Others.

The conventional cocoa solids are anticipated to hold a significant share in the global cocoa solids market followed by organic cocoa solids.  The increasing utilization of conventional cocoa solids for the preparation of dark and milk chocolates due to its low price compared to organic cocoa solids is anticipated to drive the demand for conventional cocoa solids. Moreover, the rising demand for premiumized, organic, and clean-label chocolates is anticipated to boost the demand for organic cocoa solids.

Confectionery is anticipated to hold a prominent share in the global market of cocoa solids. The increasing popularity of dark chocolates among consumers due to its high content of antioxidants is anticipated to boost the demand for cocoa solids among chocolate confectionery. The rising demand for chocolate and chocolate coatings around the world is expected to propel the utilization of cocoa solids among confectionery. Moreover, the increasing popularity of chocolate-flavored beverages among buyers is forcing market players to launch a new chocolate beverage which is expected to boost the demand for cocoa solids from chocolate beverage manufacturers. For instance, in February 2020, Cocoa Metro announced the launch of an instant Belgian chocolate drink mix. The new product has less sugar and no additives.

Regional Analysis:

North America and Europe are anticipated to hold a prominent share in the global cocoa solids market. The massive cocoa processing base present in North America and Europe is anticipated to drive the market within these regions. The presence of prominent market players within these regions along with the growing popularity of dark chocolates among buyers due to rising health consciousness is anticipated to boost the sale of cocoa solids. The rising demand for premiumized and customized chocolates among affluent consumers is predicted to further propel the market growth within the regions.

Asia Pacific is predicted to witness considerable growth in the global market of cocoa solids. The changing taste preference and improving the lifestyle of Asian consumers is expected to drive the chocolate confectionery within the region which is anticipated to impact the cocoa solids market positively. Rapid urbanization and increasing disposable income of the middle-class population in India, China, South Korea, and Australia is expected to be a key driver for market growth. The changing consumer preferences in Asia Pacific have increased sales of seasonal and premium chocolates during festive seasons which are predicted to further augment cocoa solids demand within the region. 

Segmentation

Key Industry Developments:

• In February 2019, Cargill Cocoa and Chocolate launched a new cocoa powder Gerkens CT70. The product is launched to expand product portfolio of company’s cocoa powder brand Gerkens.


• In September 2018, Cadbury announced the launch of Darkmilk bar in the UK. This chocolate has much higher content of cocoa than the popular Dairy Milk option. The Darkmilk bar is made with 40% cocoa solids and 14% milk solids.