Global Cocoa Solids Market Report and Forecast 2024-2032

Global Cocoa Solids Market Outlook

The global cocoa solids market size is expected to grow at a CAGR of 4.7% in the forecast period of 2024-2032, reaching a value of around USD 6.38 billion by 2032. The market is being driven by the increasing demand for cocoa solids in the food and beverage sector.

Key Trends in the Market

Cocoa solids refer to the edible parts of the cocoa bean plant that provide the characteristic flavour and colour to chocolate. To obtain cocoa solids, cocoa beans are roasted, cracked, and grinded into a paste known as chocolate liquor from which the fatty component, cocoa butter, is extracted, leaving behind cocoa solids. Based on desired application, varying percentages of cocoa solids can be used.

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• Cocoa solids are used to make various chocolates and chocolate-based products such as syrups, confectionaries, and bakeries, among others. The increasing popularity of downstream cocoa solids products, owing to their taste and health benefits, is fuelling the growth of cocoa solids market.

• Ability of cocoa solids to help reduce the risk of heart attack, due to the presence of theobromine in it, is fuelling the market growth. Heightening consumption of dark chocolate among working-professionals, to uplift mood and control blood pressure, is further providing impetus to the cocoa solids market.

• Cocoa solids contain high percentages of cocoa bean components which intensify the quality of chocolate products. Rising disposable income, changing eating habits, increasing accessibility of premium packaged cocoa-based products, and rapid urbanisation across emerging economies are factors influencing the market for cocoa solids.

Market Analysis

Based on nature, the market is bifurcated into organic and conventional. On the basis of end-use industry, the market is classified into food and beverages, cosmetics and personal care, and pharmaceutical. The regional markets for cocoa solids are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the key players in the global cocoa solids market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.

• Cargill Incorporated

• United Cocoa Processor, Inc.

• Guan Chong Berhad (GCB)

• Keliffs Nutrients Pvt Ltd

• Olam International Limited

• Others

Market Share by End-Use Industry

The food and beverages segment, based on end-use industry, accounts for a sizable share of the cocoa solids market. This can be attributed to the heightened usage of cocoa solids in desserts, beverages, and various confectionery products to improve texture, enhance mouthfeel, and increase the richness and aesthetic appeal of the food and beverage products. The widespread popularity of the typical chocolate flavour is also augmenting the demand for cocoa solids in the food and beverage end-use industry. Increasing application of cocoa solids in dark chocolates and premium chocolate-based products is further escalating the growth of this segment.

Market Share by Region

Based on region, North America holds a decent share of the cocoa solids market, supported by the strong consumer demand for various chocolate products and presence of leading market players. Increasing awareness about the health benefits of cocoa solids is leading to an escalating demand for cocoa solids in various forms. Changing lifestyles is heightening the consumption of sweetened desserts and premium chocolate products, which is another growth guiding factor of the market. Rising popularity of dark chocolates with higher percentages of cocoa solids, homemade chocolate recipes, and customisation of chocolates are anticipated to surge the North America market for cocoa solids in the coming years.

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Competitive Landscape

Cargill Incorporated is a private global food producing company which was founded in 1865 and is headquartered in Minnesota in the United States. The product portfolio of this company includes grains and oilseeds, animal nutrition, and health-based products.

United Cocoa Processor, Inc. is leading producer of customised high-quality cocoa products which caters to the demands of industries such as food and pharmaceutical. The company was established in 1992 and is headquartered in New Jersey, United States.

Guan Chong Berhad (GCB) is a food company which specialises in producing cocoa-based products such as cocoa butter, mass, liquor, powder, and several other ingredients. The company was founded in 2004 and is currently headquartered in Johor, Malaysia.

Other market players include Keliffs Nutrients Pvt Ltd, and Olam International Limited, among others.

Key Highlights of the Report