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Middle East and Africa Cocoa Market Size, Share, Growth: 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
Middle East and Africa Cocoa Market Size
The Middle East and Africa cocoa market cocoa market is projected to grow at a CAGR of 6.6% between 2024 and 2032.
Middle East and Africa Cocoa Market Outlook
- According to the World Bank, the Middle East and Africa had a population of 493,279,469 with 30% belonging to the 0 to 14 age group in 2022.
- According to the Federal Government of Nigeria, cocoa production is set to increase from 340,000 tons to 500,000 tons by 2024.
- As of 2022, the Middle East and Africa region had a GDP per capita of $8,973, according to the World Bank.
Middle East and Africa Cocoa Market Growth
The food and beverage sector in the Middle East and Africa extensively utilises cocoa in various forms. Cocoa seeds are used as powder and butter to impart good colour and texture to food products and enhance their taste. Cocoa plays a crucial role in the bakery sector, adding colour and richness to a variety of baked goods. The inclusion of cocoa in products like cakes, cookies, pastries, brownies, and muffins provides a characteristic flavour and taste. In the dairy industry, cocoa enhances the flavour profile of numerous products.
In March 2024, Bunge launched Coberine 206 in Asia and the Middle East. This shea-based cocoa butter equivalent (CBE) addresses shelf-life challenges in soft chocolate and ganache products. Combine 206 offers a premium taste, extends the shelf life of products up to 12 months, and reduces storage costs. This innovation aims to revolutionise the artisanal chocolate market in these regions.
In the cosmetics industry, cocoa butter is highly valued for its moisturising properties, making it a common ingredient in products such as lotions, creams, lip balms, and soaps. In the pharmaceutical industry, cocoa extracts and derivatives are incorporated into health supplements and medicinal products to capitalise on cocoa's potential health benefits, including its antioxidant properties, reducing cancer risks, and its role in promoting cardiovascular health.
Middle East and Africa Cocoa Market Segmentation
Middle East and Africa 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
- Cosmetics and Pharmaceutical
- Others
Market Segmentation by Country
- Saudi Arabia
- United Arab Emirates
- Nigeria
- South Africa
- Others
Middle East and Africa Cocoa Market Share
The cocoa market is segmented by type into cocoa butter, cocoa powder, and cocoa liquor. In the Middle East and Africa, cocoa butter products are used to provide smooth textures and rich flavours, essential for high-quality chocolate and skincare products. Over the forecast period, the cocoa powder segment is expected to witness significant growth, driven by increasing demand for cocoa-infused baked goods and beverages due to changing consumer preferences and dietary habits. This rise in demand is fuelled by cocoa powder's versatility and its health benefits.
Leading Companies in the Middle East and Africa Cocoa Market
- Cargill Inc.
- Barry Callebaut AG
- Hershey Co.
- Nestle S.A.
- Mondelez International, Inc.
- BASF SE
- Buhler AG
- Olam International Ltd
- Ferrero International S.A.
- Mars Inc.
- Others
Major companies in the cocoa market are enhancing their market share by focusing on sustainability and innovation. They invest in responsible sourcing and support for cocoa farmers, ensuring a stable supply chain. Additionally, companies are expanding their product portfolios to cater to evolving consumer preferences and health trends. These strategies help them meet growing demand and strengthen their market positions.
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 Middle East and Africa Cocoa Market Overview
9.1 Key Industry Highlights
9.2 Middle East and Africa Cocoa Historical Market (2018-2023)
9.3 Middle East and Africa Cocoa Market Forecast (2024-2032)
10 Middle East and Africa 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 Middle East and Africa Cocoa Market by Application
11.1 Food and Beverages
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Cosmetics and Pharmaceuticals
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Others
12 Middle East and Africa Cocoa Market by Country
12.1 Saudi Arabia
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 United Arab Emirates
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Nigeria
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 South Africa
12.4.1 Historical Trend (2018-2023)
12.4.2 Forecast Trend (2024-2032)
12.5 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 Buhler AG
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 Ferrero International S.A.
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 Olam International Ltd.
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 Mars Inc.
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 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. Middle East and Africa Cocoa Market: Key Industry Highlights, 2018 and 2032
3. Middle East and Africa Cocoa Historical Market: Breakup by Type (USD Million), 2018-2023
4. Middle East and Africa Cocoa Market Forecast: Breakup by Type (USD Million), 2024-2032
5. Middle East and Africa Cocoa Historical Market: Breakup by Application (USD Million), 2018-2023
6. Middle East and Africa Cocoa Market Forecast: Breakup by Application (USD Million), 2024-2032
7. Middle East and Africa Cocoa Historical Market: Breakup by Country (USD Million), 2018-2023
8. Middle East and Africa Cocoa Market Forecast: Breakup by Country (USD Million), 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. Middle East and Africa Cocoa Market Structure
Key Questions Answered in the Report
The market is projected to grow at a CAGR of 6.6% between 2024 and 2032.
The cocoa market is categorised based on application, which includes food, beverage, cosmetics and pharmaceuticals industry.
Based on type, the market is divided into cocoa butter, cocoa powder and cocoa liquor.
The key players in the cocoa market are Cargill Inc., Barry Callebaut AG, Hershey Co., Nestle S.A., Mondelez International, Inc., BASF SE, Buhler AG, Olam International Ltd., Ferrero International S.A., and Mars Inc. among others.
Based on country, the market is broken down into Saudi Arabia, United Arab Emirates, Nigeria, and South Africa, among others.
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