Press Release

Cocoa Market likely to grow at a CAGR of 3.74% from 2021 to 2027 – Axiom MRC


Wilmington, April 29, 2021: Axiom Market Research & Consulting (TM) added a report on the Global Cocoa market. The study covers analysis of economic indicators of major countries along with GDP, impact of COVID-19 on global food & beverage industry, government policies, business investments, key marketing strategies etc. The Global Cocoa market is projected to grow at a CAGR of 3.74% over the forecast period of 2021 to 2027. The market is estimated and forecasted in terms of revenue (USD million).

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The Global Cocoa market is analyzed based on type, application, and geography. Cocoa butter, cocoa powder, and cocoa liquid are the types of cocoa included in the study. The market finds application cosmetics, pharmaceuticals, food & beverage, and confectionary. The market is studied across major countries of North America, Europe, Asia Pacific and Rest of the World.

The market is mainly driven by the growing demand for chocolate and chocolate coatings around the globe. Some of the most popular products where cocoa is found are drinking chocolate, milk chocolate, sweet chocolate, dark chocolate, and baking chocolate. The wide use of cocoa is anticipated to be a significant growth driver of the global cocoa market.

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The key competitors of this market include The Barry Callebaut Group (Switzerland), The Hershey Company (U.S), Nestlé S.A. (Switzerland), Cargill Incorporated (U.S.), Puratos Group (Belgium), Cémoi (France), Mars, Incorporated (U.S.), Blommer Chocolate Company (U.S.), Meiji Holdings Company, Ltd. (Japan), Carlyle Cocoa (Delaware), Olam International (Singapore), Cocoa Processing Company Ltd. (Ghana), among others.

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