Cacao Beans Market to Witness Tremendous Growth and Reach US$ 21 Bn by 2029
The extensive use of cacao beans in various industries has led to the consistent growth of the cacao beans market since the last decade. The demand for cacao and all the products related to cacao has remained consistently high even with fluctuating prices and negatively affected production of cacao. The cacao beans market is expected to maintain this steady growth at a CAGR of ~7% in terms of value. The rising demand from chocolate manufacturers is a chief factor boosting the market.
Cacao Beans Market - Key Research Findings
- The global cacao beans market is expected to account for revenues worth US$ 21 Bn by 2029.
- With rising demand from chocolate manufacturers, the cacao beans market is set to record a CAGR of 7% over the forecast period 2019-2029.
- Forastero cacao beans account for 4/5th of the total market revenue.
- Criollo variants are set to see a quantum leap in demand, despite its low availability.
- High potential application has been identified in the food & beverage industry.
- Manufacturers are focusing on capitalizing on foodservice/HoReCa sector.
- Sales via B2B channels influence growth strategies.
- High sales opportunities are expected in B2C channels.
- Europe promises lucrative growth prospects, owing to strong presence of leading cocoa grinders and processors.
Key Factors Influencing Cacao Beans Market
- The Craft Chocolate Movement
Growing consumers’ appetite for fine and artisanal chocolate in line with improved spending capacity is a sign that craft chocolate will have same consumer interest as other innovative food products such as craft beer and artisan cheese. As high-quality is foremost in the minds of today’s consumers, bean-to-bar chocolate manufacturers are inclined towards showcasing the purity of the beans which is weighing on a same scale as growing demand for cacao beans.
- High Usage of Forastero Cacao Beans in World’s Chocolate Production
Owing to disease-resistant and high-yielding nature, Forastero type of cacao beans is used in most of the world’s chocolate production, accounting for over 80% of the share. Forastero remains highly preferred among chocolate manufacturers over Criollo type and Trinitario. High adoption of chocolate in the F&B industry as well as foodservice sector as a key flavor to create variation in product offerings will continue to catalyze the overall cacao beans market growth.
- Advances in Biotechnological Applications for Cacao Improvement
Cacao beans or trees are prone to diseases which destroy about 30% of the global production every year. An embrace of research activities, particularly gene editing, has been underway to delete a gene that makes cacao trees susceptible to diseases. Threatened by diseases and climate, the world’s chocolate production and supply has been dwindling, and is expected to be protected by the genetic modification of cacao beans. However, aversion to genetically modified organisms (GMO) and the rise of clean label trend may represent a potential threat to this trend.
Cacao Beans Market Structure Analysis
- Market consolidation in European countries remains a key to achieving distinct competitive chains.
- Concentration of the cocoa supply chain at both vertical and horizontal levels is attributable to recent merging of cocoa and chocolate companies.
- Collaborations with agricultural research-based institutes also remain a key focus area of the market players for advances in gene modification of cacao trees.
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Report Metrics |
Details |
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Base Year |
2018 |
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Forecast Period |
2019-2029 |
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CAGR over 2019-2029 |
7% |
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Expected Market Value in 2029 |
US$ 21 Bn |
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Segments Covered |
Product, End-use Application, Distribution Channel |
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Regions Covered |
North America, Latin America, Europe, East Asia, South Asia, Oceania, MEA |
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Key Companies |
Cargill Inc., BT Cocoa, India Cocoa Pvt Ltd., Nederland SA, Niche Cocoa Industry Ltd., Dutch Cocoa B.V., Edna Group, Olam International Limited, United Cocoa Processors Inc., Cocoa Processing Company, PT. Danora Agro Prima, Kakao Berlin, Barry Callebaut AG, Ciranda Inc., and Theobroma B.V. |
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Growth Drivers |
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Forastero Cacao Beans Hold Dominance among Product Types
Forastero cacao beans are widely used for various applications as they are a widely grown variety among other types. These cacao beans hold a share of more than 80% currently in the cacao beans market. Criollo beans have the lowest market share among cacao beans product types. These are very rarely available in commercial plantation and are considered as a delicacy due to their low availability and low yield.
Popularity of Cocoa as a Universal Flavor Causes Increased Demand in Food and Beverage Industry
Chocolate is among the most favorite and most consumed food products in the world, which makes cocoa one of the most widely consumed flavors in a variety of foods and beverages consumed worldwide. Due to the increasing popularity of the chocolate flavor, the majority of manufacturers in the food and beverage industry are using cacao beans in many of their food products and traditional recipes. This is intended to attract more consumers. With the increasing popularity of the chocolate flavor and rising cocoa production, the global cacao market is likely witness impressive growth during the forecast period.
High Demand for Cacao Beans in the European Countries Owing to the Rising Foodservice Industry
There has been a rapid rise in the number of foodservice operators especially in EU-4 and U.K. These foodservice operators are mainly in the bakery and confectionery sector. This has in turn increased the demand for cacao beans in these countries. In addition, the bakery and confectionery industry in the Netherlands has a steady demand all around the year and is largest consumer of cacao beans in the world. The demand in Netherland for cacao beans is expected to increase in the upcoming years.
Forastero holds the largest revenue share
Criollo to showcase noteworthy CAGR
Food and Beverages to remain top among end uses
Foodservice/ HoReCa is expected to show a higher CAGR
B2B sales to remain high
Sales through B2C expected to increase
How Growth will Unfold
The demand for cacao beans has always remained high. However, a few years back, the sales of the cacao beans had decreased. While demand was consistent, low production of cocoa beans due to fluctuating climatic conditions resulted in their high prices, which negatively affected the supply of the cacao beans to the market. The demand-supply gap in the cacao beans market compelled manufacturers of chocolate and other products to shift to other alternatives or use artificial flavourings. Nevertheless, a steady supply and a rise in the production of quality cacao beans have bolstered sales. In addition, the use of cacao beans in various industries for different applications has surged considerably. Research and development teams in these end-use industries are launching innovative products containing cacao beans as one of the ingredients, which could align with the changing trends among consumers.
* This data is only a representation. Actual data may vary and will be available in report.
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Overview
Cacao Beans Market: Global Industry Analysis 2014-2018 & Opportunity Assessment 2019-2029
A recent market study published by Future Market Insights on the cacao beans market offers global industry analysis for 2014-2018 & opportunity assessment for 2019-2029. The study offers a comprehensive assessment of the most important market dynamics. After conducting a thorough research on the historical, as well as current growth parameters, the growth prospects of the market are obtained with maximum precision.
Cacao Beans Market Taxonomy
The global cacao beans market is segmented in detail to cover every aspect of the market and present complete market intelligence to readers.
Product Type
- Forastero
- Criollo
- Trinitario
End Use Application
- Food and Beverages
- Bakery and Confectionery
- Beverages
- Dairy Products
- Syrup, Toppings and Fillings
- Other Applications
- Pharamaceuticals
- Cosmetic and Personal Care
- Pet Food
- Household/Retail
- HoReCa/FoodService
Distribution Channel
- B2B
- B2C
- Hypermarkets/ Supermarkets
- Convenience Stores
- Independent Grocery Stores
- Speciality Stores
- Online Retail
Region
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- MEA
What's Included
The executive summary of the cacao beans market includes the market country analysis, proprietary wheel of fortune, application-product mapping, opportunity assessment, and recommendations on the global cacao beans market.
Readers can find the detailed segmentation and definition of the cacao beans market in this chapter, which will help them understand basic information about the cacao beans market. This section also highlights the inclusions and exclusions, which help the reader understand the scope of the cacao beans market report.
The associated industry assessment of the cacao beans market is carried out in this section. The macroeconomic factors affecting growth of the cacao beans market are provided in this section and the impact of these macroeconomic indicators on the cacao beans market is analyzed. The processing overview and technological advancements in the cacao beans market is also provided.
Profit margins at each level of the cacao beans market are analyzed and readers can find detailed information on top importers and exporters as well as the value chain of the market.
The drivers and restraints impacting the growth of the cacao beans market are explained in this chapter. Opportunities and ongoing trends in the cacao beans market are also comprehensively discussed.
This chapter includes detailed analysis of the historical cacao beans market (2014-2018), along with an opportunity analysis for the forecast period (2019-2029). Readers can also find the absolute $ opportunity for the current year (2019 - 2020) and incremental opportunity for the forecast period (2019-2029).
Based on product type, the cacao beans market is segmented into Forastero, Criollo and Trinitario cacao beans. This section also offers market attractiveness analysis based on product type.
This chapter provides details about the cacao beans market on the basis of end use application, and has been classified into Food and Beverages, pharmaceuticals, cosmetics and personal care, pet food, household/retail and foodservice/HoReCa industry. Among the food and beverages, the cacao beans are used in bakery and confectionery, beverages, dairy products, syrups, toppings and fillings and other applications. In this chapter, readers can understand market attractive analysis based on end use application.
This chapter provides details about the cacao beans market on the basis of distribution channel, and has been classified into B2B and B2C. In this chapter, readers can understand market attractive analysis based on distribution channel.
This chapter explains how the cacao beans market is anticipated to grow across various geographic regions such as North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East and Africa.
This chapter includes a detailed analysis of the growth of the cacao beans market in the North America region, along with a country-wise assessment that includes the U.S. and Canada. Readers can also find regional trends, regulations, and market growth based on end users and countries in the North America region.
Readers can find detailed information about several factors, such as the pricing analysis and regional trends, which are impacting growth of the cacao beans market in the Latin America region. This chapter also includes growth prospects of the cacao beans market in leading LATAM countries such as Brazil, Mexico, Argentina, Ecuador and the Rest of Latin America.
Important growth prospects of the cacao beans market based on its end users in several countries such as EU-4, U.K, BENELUX, NORDIC, Russia, Poland, and Rest of Europe are included in this chapter.
Important growth prospects of the cacao beans market based on its end users in several countries such as India, Indonesia, Malaysia, Singapore, and rest of South Asia are included in this chapter.
This chapter includes a detailed analysis of the growth of the cacao beans market in the East Asia region, along with a country-wise assessment that includes, china, Japan, and South Korea. Readers can also find regional trends, regulations, and market growth based on end users and countries in the East Asia region.
This chapter offers insights into how the cacao beans market is expected to grow in Oceania regions, along with a country-wise assessment that includes Australia and New Zealand during the forecast period of 2019-2029.
This chapter offers insights into how the cacao beans market is expected to grow in major countries in the MEA region such as Turkey, Iran, North Africa, Cote d'lvoire and the rest of MEA, during the forecast period 2019-2029.
In this chapter, readers can find detailed information about tier analysis and market concentration of the key players in the cacao beans market along with their market presence analysis by region and product portfolio.
In this chapter, readers can find a comprehensive list of leading manufacturers in the cacao beans market, along with detailed information about each company, which includes company overview, revenue shares, strategic overview, and recent company developments. Some of the market players featured in the report are Cargill Inc., Theobroma B.V., Olam International Limited, Ciranda Inc., Edna Group, Barry Callebaut AG, Dutch Cocoa B.V., Kakao Berlin, Niche Cocoa Industry Ltd., PT. Danora Agro Prima, Nederland SA, Cocoa Processing Company, India Cocoa Pvt Ltd., United Cocoa Processors Inc., BT Cocoa among others.
This chapter includes a list of acronyms and assumptions that provide a base to the information and statistics included in the cacao beans report.
This chapter helps readers understand the research methodology followed to obtain various conclusions, as well as important qualitative and quantitative information, on the cacao beans market.
How the research was conducted?
Primary Research
- C - Level Executives
- Marketing Directors
- Sales Heads
- Production Managers
- Distributors Heads
- Sales Executives
- Product Manufacturers
- Distributors
- Traders
- Industry Experts
- End Users
- Current Market Dynamics and Challenges
- Market Characteristics
- Market Performance and Growth Quadrants
- Competition Structure and Market Structure
- Strategic Growth Initiatives
- Near-term and Long-term Market Growth Prospects
- Market Segment Splits and Authenticity
- Opinions on Market Projections and Validity Of Assumptions
Secondary Research
- Industry Publications
- Industrial Week
- Industrial Product Review
- Industrial Magazine
- Industry Associations
- International Cocoa Organization
- World Cocoa Foundation
- European Cocoa Association
- The National Confectioners Association
- Company Press Releases
- Annual Reports and Investor Presentations
- Research Papers
- Government Websites and Publications
- Trade Websites
Primary Interview Splits
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