Cocoa Derivatives Market Size, Share and Demand Report 2028

Cocoa Derivatives Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Type (Cocoa Butter, Cocoa Beans, Cocoa Powder, and Others), Category (Organic and Conventional), and Application [Food and Beverages (Bakery and Confectionery, Dairy and Frozen Desserts, Beverages, and Others), Personal Care, and Others]

Publication Month : Feb 2023

  • Report Code : TIPRE00009486
  • Category : Food and Beverages
  • Status : Published
  • No. of Pages : 153
Inquire Before Buy



The cocoa derivatives market size is expected to grow from US$ 27,807.13 million in 2022 to US$ 37,799.86 million by 2028; it is estimated register a CAGR of 5.3% from 2022 to 2028.

Cocoa derivatives are cocoa products derived from the processing of cocoa. The types of cocoa derivatives include cocoa beans, cocoa butter, and cocoa powder. These derivatives are also available in organic and conventional categories. The demand for organic and Fairtrade-certified cocoa beans is growing in the global market. Consumers are inclined toward consuming safer products that help them maintain overall health. The rising interest in pesticide-free food products positively affects the demand for organically grown cocoa. According to the World of Organic Agriculture 2022 report by the Research Institute of Organic Agriculture (FiBL) and the International Federation of Organic Agriculture Movements (IFOAM), the cultivation area of organic cocoa across the world reached 3.1% in 2020. Further, Lindt & Sprüngli have indicated that their organic cocoa products sales in Europe are growing at a much faster pace than overall cocoa products sales. Thus, manufacturers are adding organic products to their portfolios to cater to the increasing demand. For instance, Barry Callebaut offers domestically produced, organic-certified, non-alkalized cocoa powder.

In 2022, Europe held the largest share of the cocoa derivatives market. The market in Asia Pacific is estimated to grow at the highest CAGR during the forecast period. The market growth in the region is attributed to the increasing popularity of gourmet chocolates among Europeans. Hence, different high-end chocolate brands have extensively been looking for ways to differentiate their products, along with focusing on sourcing single-estate products. Thus, the demand for high-quality cocoa and single-origin cocoa flavors is on the rise in the region. For instance, Valrhona Inc., the world's finest chocolate producer based in France, has been harvesting cocoa beans from Maria Trinidad Sanchez, a single-origin cocoa estate from Further, consumer inclination toward healthy living triggers the demand for superior-quality cocoa derivatives, such as cocoa butter, cocoa powder, and cocoa beans.

Customize Research To Suit Your Requirement

We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.

Cocoa Derivatives Market: Strategic Insights

Market Size Value inUS$ 27,807.13 million in 2022
Market Size Value byUS$ 37,799.86 million by 2028
Growth rateCAGR of 5.3% from 2022 to 2028
Forecast Period2022-2028
Base Year2022
Analyst Image


Have a question?

Shejal will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.

Analyst Image  Speak to Analyst

Impact of COVID-19 Pandemic on Cocoa Derivatives Market

The COVID-19 pandemic affected economies and industries in various countries. Lockdowns, travel restrictions, and business shutdowns in North America, Europe, Asia Pacific (APAC), South & Central America (SAM), and the Middle East & Africa (MEA) hampered the growth of several industries, including the food & beverage industry. The shutdown of manufacturing units led to disturbances in global supply chains, manufacturing activities, delivery schedules, and essential and nonessential product sales. Various companies witnessed delays in product deliveries and a slump in sales of their products in 2020. Moreover, the bans imposed by governments of various countries in Europe, Asia Pacific, and North America on international travel compelled companies to temporarily discontinue their collaboration and partnership plans. All these factors hampered various industries in 2020 and early 2021, thereby restraining the growth of various markets.

Changes in socioeconomic situations negatively impacted the consumption pattern of premium products in 2020. The restrictions imposed by governments of several countries in the world during the global crisis caused financial losses for farmers growing cocoa in small yet relevant cocoa-producing countries as the production surpassed the demand in the initial months of the pandemic. This led to a significant decline in the prices of cocoa. According to the International Cocoa Organization (ICCO), in New York, cocoa contract prices averaged ~US$ 2,528 per ton in January 2021, registering a 6% decrease compared to prices in the previous year (US$ 2,675 per ton). Moreover, the shutdown of facilities in the personal care, and food & beverages industries affected the performance of the cocoa derivatives market.

In 2021, several economies resumed operations as governments announced relaxation in the previously imposed restrictions, which boosted the global marketplace. Moreover, manufacturers were permitted to operate at full capacities, which helped them overcome the demand and supply gaps, and other repercussions. As a majority of the global population was fully vaccinated by 2021, the cocoa derivatives manufacturers focused on scaling up production operations to revive their businesses.

Cocoa Derivatives Market Breakdown, by Region

  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
  • Request discounts available for Start-Ups & Universities

Market Insights

Strategic Developments by Key Players Favor Cocoa Derivatives Market Growth

In September 2020, Olam Group Ltd launched Olam Cocoa for professionals, making its premium deZaan cocoa powders available to restaurants, caterers, and patisseries. The strategy aimed to cater to the rising demand for high-quality cocoa ingredients from professional chefs and bakers. Such strategic developments by key players in the market are expected to propel the growth of the cocoa derivatives market in the coming years.

Type Insights

Based on type, the cocoa derivatives market is segmented into cocoa beans, cocoa butter, cocoa powder, and others. The cocoa beans segment held the largest market share in 2022, and the cocoa powder segment is expected to register the highest CAGR during the forecast period. Cocoa powder is an unsweetened powder obtained by crunching cocoa beans extracted from the fruits of cocoa trees. The chocolate liquor is pressed to remove cocoa butter, and the residual cocoa solids are then processed to create a fine unsweetened cocoa powder. The increasing consumer inclination toward better flavor, color, and texture drives demand for cocoa powder.

Cocoa Derivatives Market, by Type – 2022 and 2028

  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
  • Request discounts available for Start-Ups & Universities

Application Insights

Based on application, the cocoa derivatives market is segmented into food and beverages, personal care, and others. Cocoa derivates are widely used in making bakery products, beverages, confectioneries, dairy products, and snacks. However, an emerging demand for clean-label and vegan products is resulting in burgeoning sales of plant-based ingredients, such as cocoa butter, cocoa powder, cocoa nibs, and cocoa liquor. Hence, the increasing demand for plant-based products in food & beverage industry fueling the cocoa derivatives market growth. Olam International, and Cargill, Incorporated are the major manufacturers offering cocoa derivatives for food & beverage applications.

Olam Group Ltd, Indcre SA, Cargill Inc, Natra SA, JB Foods Ltd, Ecuakao Group Ltd, United Cocoa Processor Inc, Barry Callebaut AG, Moner Cocoa SA, and Altınmarka Gıda San ve Tic AS are among the major players operating in the cocoa derivatives market. These companies mainly focus on product innovation to expand their market size and follow emerging trends.

Report Spotlights

  • Progressive industry trends in the cocoa derivatives market to help companies develop effective long-term strategies
  • Business growth strategies adopted by market players in developed and developing countries
  • Quantitative analysis of the market from 2022 to 2028
  • Estimation of global demand for cocoa derivatives
  • Porter’s Five Forces analysis to illustrate the efficacy of buyers and suppliers in the cocoa derivatives market
  • Recent developments to understand the competitive market scenario
  • Market trends and outlook, and growth drivers and restraints in the cocoa derivatives market
  • Assistance in the decision-making process by highlighting market strategies that underpin commercial interest
  • Size of the cocoa derivatives market at various nodes
  • Detailed overview and segmentation of the market and growth dynamics of the cocoa derivatives industry
  • Size of the cocoa derivatives market in various regions with promising growth opportunities
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Type, Category, and Application

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States

Frequently Asked Questions

Can you list some of the major players operating in the global cocoa derivatives market?

The major players operating in the global cocoa derivatives market are Olam Group Ltd, Indcre SA, Cargill Inc, Natra SA, JB Foods Ltd , Ecuakao Group Ltd, United Cocoa Processor Inc, Barry Callebaut AG, Moner Cocoa SA, Altınmarka Gıda San ve Tic AS among few others.

What are the opportunities for cocoa derivatives in the global market?

Increasing demand for organic and fairtrade cocoa derivatives is further expected to create lucrative opportunities for cocoa derivatives market growth.

Based on the type, why does the cocoa beans segment have the largest revenue share?

Based on the type, the cocoa beans segment accounted for the largest revenue share as it promotes healthy digestion due to their fibre content. The fibre content helps soften bowel movements, prevent haemorrhoids and help with other digestive conditions. it finds wide application in industries such as food & beverage, confectionery, and pharmaceuticals.

What is the largest region of the global cocoa derivatives market?

Europe accounted for the largest share of the global cocoa derivatives market. The market growth is attributed to the increasing popularity of specialty chocolates among the European population which boost the demand for cocoa derivatives.

Based on the application, which is the fastest-growing segment in the cocoa derivatives market?

Based on application, personal care is the fastest-growing segment in the cocoa derivatives market due to its high antioxidant properties and its richness in flavanols.

What are the key drivers for the growth of the global cocoa derivatives market?

The rising demand for cocoa-based confectioneries and the utilization of cocoa as a sustainable beauty ingredient by the cosmetic industry are some of the key driving factors for the cocoa derivatives market.

The List of Companies - Cocoa Derivatives Market

  1. Olam Group Ltd      
  2. Indcre SA    
  3. Cargill Inc    
  4. Natra SA     
  5. JB Foods Ltd          
  6. Ecuakao Group Ltd           
  7. United Cocoa Processor Inc          
  8. Barry Callebaut AG           
  9. Moner Cocoa SA     
  10. Alt?nmarka G?da San ve Tic AS

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

Your data will never be shared with third parties, however, we may send you information from time to time about our products that may be of interest to you. By submitting your details, you agree to be contacted by us. You may contact us at any time to opt-out.

Trends and growth analysis reports related to Cocoa Derivatives Market