Mexico Cocoa Market Report and Forecast 2024-2032

Mexico Cocoa Market Outlook

The Mexico cocoa market size is projected to grow at a CAGR of 2.7% between 2024 and 2032. The market is being driven by the rising demand for cocoa in cosmetics and personal care applications and the growing preference for organic cocoa.

Key Takeaways:

• As per the ASCHOCO, chocolate sales are expected to witness a 10% y-o-y growth in Mexico.

• Mexico produces 25,000 metric tons of cocoa on 59,800 acres of land.

• Cocoa powder is expected to constitute a major portion of the Mexico cocoa market share.

Climate change in Mexico is leading to an increase in the number of plant-based diseases, which is adversely impacting the cultivation of cocoa beans. However, an increase in international collaboration and private sector investments is expected to overcome this challenge. For example, the United Kingdom government is training cocoa farmers in the state of Tabasco with the objective of improving cocoa yields through its Partnering for Accelerated Climate Transitions (PACT) program.

Cocoa cultivation is mostly concentrated in Tabasco (68.8%) and Chiapas (31.1%) in Mexico. As per the Mexico cocoa market analysis, 1552770 hectares of land can be further utilised for the cultivation of criollo and organic varieties of cocoa, making Mexico one of the leading exporters of fine and ordinary cocoa beans globally.

The increasing use of cocoa butter in skincare products due to its anti-ageing and moisturising properties is expected to drive the Mexico cocoa market expansion. Cocoa butter is an extremely popular ingredient in cosmetic products as it prevents skin dryness and reduces wrinkles. Its anti-inflammatory properties also help in relieving eczema and psoriasis.

Besides, with the growing awareness regarding the benefits of organic produce among consumers and food manufacturers, the demand for organic cocoa is significantly rising. The surging demand for premium and organic confectionery is likely to further favour the Mexico cocoa market growth in the coming years.

Market Segmentation

Mexico Cocoa Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Market Breakup by Product

• Cocoa Butter

• Cocoa Liquor

• Cocoa Powder

Market Breakup by Application

• Food and Beverages
  • Confectionery
  • Dairy
  • Bakery
  • Others
• Cosmetics and Pharmaceuticals

• Others

Market Breakup by Region

• Baja California

• Northern Mexico

• The Bajío

• Central Mexico

• Pacific Coast

• Yucatan Peninsula

The key Mexico cement market players are Euro-American Cacao Company, S. de R.L. de C.V., Barry Callebaut AG, Cargill, Incorporated, and IMCO, among others.

Key Highlights of the Report