Europe Cocoa Market Report and Forecast 2024-2032

Europe Cocoa Market Size

The Europe cocoa market reached USD 9.89 billion in 2023. The market is expected to grow at a CAGR of 4.20% between 2024 and 2032, reaching USD 14.45 billion by 2032.

Europe Cocoa Market Outlook

• As per the USDA, the EU imported $34.53 Million Chocolate & Cocoa Products from the US in 2023.

• As per the European Union, Europe’s total imports of cocoa beans amounted to over 1.7 million tonnes in 2022.

• As per the Unione Italiana Food, Italy produced about 378,760 tons of chocolate products for final consumption in 2022.

Europe Cocoa Market Growth

Application in foods and beverages leads the Europe cocoa market growth since it is primarily used in the production of chocolate.

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.

Cocoa besides being used in the foods and beverages industry is also gaining popularity among the Pharmaceutical and healthcare industry. For instance, in February 2024, scientists at the Arctic University of Norway discovered a new form of oral insulin which can be taken as a pill or sugar-free chocolate and could replace injections for curing diabetics. About 61 million people are suffering from diabetes in Europe, out of which 10% have type 1 diabetes, this specialised polymer will help with more precise delivery of insulin.

Cocoa butter also referred to as theobroma oil is an edible fat which is extracted from cocoa beans. Cocoa butter is a key ingredient in the production of chocolate and other confectionery products for its pleasant aroma, smooth texture and melting properties making it an ideal candidate.

Europe Cocoa Market Segmentation

Europe 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

• Germany

• United Kingdom

• France

• Italy

• Others

Europe Cocoa Market Share

Growth in the Cocoa market is led by confectionaries owing to the significant share that they hold in Europe, Consequently, chocolate production is a primary application within confectioneries. Countries like Switzerland, Belgium, and Germany have a strong confectionery industry and produce a wide variety of chocolates.

Leading Companies in the Europe Cocoa Market

Market players in the cocoa industry are expanding their scope using cocoa in the pharmaceutical and healthcare industries, this goes beyond the conventional scope of cocoa in the foods and beverage industry. Companies are also establishing their presence in personal care where cocoa lotions have become popular, which enhances their visibility to consumers, thereby contributing to market growth.

• Cargill Inc.

• Barry Callebaut AG

• Nestle S.A.

• Mondelez International, Inc.

• BASF SE

• Buhler AG

• Ferrero International S.A.

• Mars Inc.

• Forever Cacao

• GCB Cocoa UK Ltd.

• Others

Key Highlights of the Report