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Asia Pacific Cocoa Market Share, Growth, Statistics, Report: By Type: Cocoa Butter, Cocoa Powder, Cocoa Liquor; By Application: Food and Beverages, Cosmetics and Pharmaceuticals, Others; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Value Chain Analysis; Competitive Landscape; 2024-2032
Asia Pacific Cocoa Market Outlook
The Asia Pacific cocoa market size reached USD 3.47 billion in 2023. The market is expected to grow at a CAGR of 5.60% between 2024 and 2032, reaching USD 5.68 billion by 2032.
Key Takeaways:
- As per the USDA Foreign Agricultural Service, in 2023, Vietnam imported USD 51.6 million worth of cocoa from the US.
- As per the USDA Foreign Agricultural Service , South Korea in 2023 imported USD 363 million worth of chocolates worldwide.
- The USDA Foreign Agricultural Service reported that India imported USD377 million worth of chocolate and cocoa products worldwide in 2022.
Application in foods and beverages leads the Asia Pacific cocoa market growth since it is primarily used in the production of chocolate. In cosmetics and pharmaceuticals, cocoa finds usage in lotions and balms among other similar skincare and haircare products
In the food and beverages sector, cocoa is primarily used in the production of chocolate, including bars, confectionery and bakery items like cakes, brownies and muffins among others. Significant consumption of cocoa powder is driven by increasing demand for premium chocolates.
Growth in the cocoa industry largely depends on the rising production of cocoa for use cases in foods and beverages and for other uses in the pharma and cosmetics industry. As of October 2023, countries in the Asia Pacific region have been pumping investments into African countries in a bid to increase production to fulfil the rising consumption of cocoa.
Cocoa-derived ingredients are essential in the cosmetics and pharmaceutical sectors. The popularity of cocoa butter as a hydrating agent makes it a common ingredient for lotions and lip balms. This trend goes well with the rising consumer acceptance of organic beauty products. Cocoa extracts have antioxidant properties which may have potential health benefits, including improved cardiovascular health and cognitive function.
Market Segmentation
Asia Pacific Cocoa Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Type
- Cocoa Butter
- Cocoa Powder
- Cocoa Liquor
Market Breakup by Application
- Food and Beverages
- Confectionery
- Dairy
- Bakery
- Others
- Cosmetics and Pharmaceuticals
- Others
Market Breakup by Country
- China
- Japan
- India
- ASEAN
- Australia
- Others
The Asia Pacific cocoa market key players are Cargill Inc., Barry Callebaut AG, Hershey Co., Nestle S.A., Mondelez International, Inc., BASF SE, MEIJI Holdings Co. Ltd., Buhler AG, Ferrero International S.A., Olam International Ltd., Mars Inc., and Morinaga & Company, Ltd. among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Global Cocoa Market Overview
8.1 Key Industry Highlights
8.2 Global Cocoa Historical Market (2018-2023)
8.3 Global Cocoa Market Forecast (2024-2032)
8.4 Global Cocoa Market Share by Region
8.4.1 North America
8.4.2 Europe
8.4.3 Asia Pacific
8.4.4 Latin America
8.4.5 Middle East and Africa
9 Asia Pacific Cocoa Market Overview
9.1 Key Industry Highlights
9.2 Asia Pacific Cocoa Historical Market (2018-2023)
9.3 Asia Pacific Cocoa Market Forecast (2024-2032)
10 Asia Pacific Cocoa Market by Type
10.1 Cocoa Butter
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Cocoa Powder
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Cocoa Liquor
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
11 Asia Pacific Cocoa Market by Application
11.1 Food and Beverages
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.1.3 Breakup By Type
11.1.3.1 Confectionery
11.1.3.2 Dairy
11.1.3.3 Bakery
11.1.3.4 Others
11.2 Cosmetics and Pharmaceuticals
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Others
12 Asia Pacific Cocoa Market by Country
12.1 China
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Japan
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 India
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 ASEAN
12.4.1 Historical Trend (2018-2023)
12.4.2 Forecast Trend (2024-2032)
12.5 Australia
12.5.1 Historical Trend (2018-2023)
12.5.2 Forecast Trend (2024-2032)
12.6 Others
13 Market Dynamics
13.1 SWOT Analysis
13.1.1 Strengths
13.1.2 Weaknesses
13.1.3 Opportunities
13.1.4 Threats
13.2 Porter’s Five Forces Analysis
13.2.1 Supplier’s Power
13.2.2 Buyer’s Power
13.2.3 Threat of New Entrants
13.2.4 Degree of Rivalry
13.2.5 Threat of Substitutes
13.3 Key Indicators of Demand
13.4 Key Indicators of Price
14 Value Chain Analysis
15 Trade Data Analysis (HS Code – 1803, 1804, 1805)
15.1 Major Exporting Countries
15.1.1 By Value
15.1.2 By Volume
15.2 Major Importing Countries
15.2.1 By Value
15.2.2 By Volume
16 Price Analysis
17 Competitive Landscape
17.1 Market Structure
17.2 Company Profiles
17.2.1 Cargill Inc.
17.2.1.1 Company Overview
17.2.1.2 Product Portfolio
17.2.1.3 Demographic Reach and Achievements
17.2.1.4 Certifications
17.2.2 Barry Callebaut AG
17.2.2.1 Company Overview
17.2.2.2 Product Portfolio
17.2.2.3 Demographic Reach and Achievements
17.2.2.4 Certifications
17.2.3 Hershey Co.
17.2.3.1 Company Overview
17.2.3.2 Product Portfolio
17.2.3.3 Demographic Reach and Achievements
17.2.3.4 Certifications
17.2.4 Nestle S.A.
17.2.4.1 Company Overview
17.2.4.2 Product Portfolio
17.2.4.3 Demographic Reach and Achievements
17.2.4.4 Certifications
17.2.5 Mondelez International, Inc.
17.2.5.1 Company Overview
17.2.5.2 Product Portfolio
17.2.5.3 Demographic Reach and Achievements
17.2.5.4 Certifications
17.2.6 BASF SE
17.2.6.1 Company Overview
17.2.6.2 Product Portfolio
17.2.6.3 Demographic Reach and Achievements
17.2.6.4 Certifications
17.2.7 MEIJI Holdings Co. Ltd.
17.2.7.1 Company Overview
17.2.7.2 Product Portfolio
17.2.7.3 Demographic Reach and Achievements
17.2.7.4 Certifications
17.2.8 Buhler AG
17.2.8.1 Company Overview
17.2.8.2 Product Portfolio
17.2.8.3 Demographic Reach and Achievements
17.2.8.4 Certifications
17.2.9 Ferrero International S.A.
17.2.9.1 Company Overview
17.2.9.2 Product Portfolio
17.2.9.3 Demographic Reach and Achievements
17.2.9.4 Certifications
17.2.10 Olam International Ltd.
17.2.10.1 Company Overview
17.2.10.2 Product Portfolio
17.2.10.3 Demographic Reach and Achievements
17.2.10.4 Certifications
17.2.11 Mars Inc.
17.2.11.1 Company Overview
17.2.11.2 Product Portfolio
17.2.11.3 Demographic Reach and Achievements
17.2.11.4 Certifications
17.2.12 Morinaga & Company, Ltd.
17.2.12.1 Company Overview
17.2.12.2 Product Portfolio
17.2.12.3 Demographic Reach and Achievements
17.2.12.4 Certifications
17.2.13 Others
18 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Cocoa Market: Key Industry Highlights, 2018 and 2032
2. Asia Pacific Cocoa Market: Key Industry Highlights, 2018 and 2032
3. Asia Pacific Cocoa Historical Market: Breakup by Type (USD Billion), 2018-2023
4. Asia Pacific Cocoa Market Forecast: Breakup by Type (USD Billion), 2024-2032
5. Asia Pacific Cocoa Historical Market: Breakup by Application (USD Billion), 2018-2023
6. Asia Pacific Cocoa Market Forecast: Breakup by Application (USD Billion), 2024-2032
7. Asia Pacific Cocoa Historical Market: Breakup by Country (USD Billion), 2018-2023
8. Asia Pacific Cocoa Market Forecast: Breakup by Country (USD Billion), 2024-2032
9. Major Exporting Countries by Value
10. Major Importing Countries by Value
11. Major Exporting Countries by Volume
12. Major Importing Countries by Volume
13. Asia Pacific Cocoa Market Structure
Key Questions Answered in the Report
The market was valued at USD 3.47 billion in 2023.
The market is projected to grow at a CAGR of 5.60% between 2024 and 2032.
The revenue generated from the cocoa market is expected to reach USD 5.68 billion in 2032.
Based on type, the cocoa market is split into cocoa butter, cocoa powder, and cocoa liquor.
The key players are Cargill Inc., Barry Callebaut AG, Hershey Co., Nestle S.A., Mondelez International, Inc., BASF SE, MEIJI Holdings Co. Ltd., Buhler AG, Ferrero International S.A., Olam International Ltd., Mars Inc., and Morinaga & Company, Ltd. among others.
Based on the application, the market is split into food and beverages, cosmetics and pharmaceuticals, and others.
Based on the country, the market is split into China, Japan, India, ASEAN, Australia, and others.
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