The cocoa market is projected to reach USD 26.3 Billion by 2027 growing at a CAGR of 4.5% from 2022 to 2027. The chocolate market is projected to reach USD 160.9 Billion by 2027 growing at a CAGR of 4.7% from 2022 to 2027. The rising demand for cocoa in the food processing industry propels the growth of the cocoa market. The steadily growing awareness of the health benefits of cocoa is a major propellant for the growth of the market. The key players in cocoa and chocolate market include Mars, Inc.(US), Mondelez International (US), Nestle S.A. (Switzerland), Meiji Holding Co. Ltd.(Japan), Ferrero International(Italy), Olam Group (Singapore), Barry Callebaut(Switzerland), Cargill Incorporated (US), Cocoa Processing Company (Ghana), Archer Daniel Midland (ADM) Company (U.S.), Chocoladefabriken Lindt & Sprüngli AG (Switzerland) and Pladis Global(UK) among others.
Mondelez International is one of the leading providers and distributors of high-quality snacks. It provides a wide range of snacking product portfolios to its customers worldwide. The company has its presence in regions such as Asia, the Middle East, Africa, Europe, Latin America, and North America. It has operations in over 80 countries. The company’s product category includes beverages, biscuits, chocolate, gum, and candy. Mondelez now owns some of the most famous chocolate and confectionery brands such as Oreo, Milka, Toblerone, TUC, and Cadbury. Other bakery brands include Barni, Club Social, Honey Maid, Enjoy Life Foods, Mikado, Newtons, Nutter Butter, Premium, and Prince.
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Nestle S.A. is a leading food & beverage company. The company operates in seven major segments: powdered and liquid beverages, water, milk products and ice cream, nutrition and healthcare, prepared dishes and cooking aids, confectionery, and pet care. It produces beverages, chocolates & confectionery, culinary, chilled & frozen food, milk-based products, ice creams, prepared dishes, and pharmaceutical products. Nestle operates globally, with a presence in Europe, the Americas, Asia, Oceania, and Africa. The company mainly operates through its subsidiaries and has 29 R&D facilities worldwide.
Mars Inc. is engaged in the production and marketing of branded confectionery, snack foods, main meal foods, drinks, and pet care products. The company’s major business segments include chocolate, pet care, food, Wrigley gum and confections, drinks, and symbioscience. The strategic decisions made by the company are based on five principles: quality, responsibility, mutuality, efficiency, and freedom. The company is present in more than 74 countries, including Canada, the US, Japan, India, and Russia.
Cocoa and Chocolate Market by Type (Dark Chocolate, Milk Chocolate, Filled Chocolate, White Chocolate), Application (Food & Beverage, Cosmetics, Pharmaceuticals), Nature (Conventional, Organic), Distribution and Region - Global Forecast to 2027
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