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Singapore Cocoa Market Share, Growth, Statistics, Forecast: By Type: Cocoa Butter, Cocoa Powder, Cocoa Liquor; By Application: Food and Beverages, Cosmetics and Pharmaceuticals, Others; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Value Chain Analysis; Trade Data Analysis; Competitive Landscape; 2024-2032
Singapore Cocoa Market Size
The Singapore cocoa market is projected to grow at a CAGR of 4.20% between 2024 and 2032.
Singapore Cocoa Market Outlook
- Indonesia is the major importer of cocoa to Singapore.
- As per the industry reports, the overall chocolate and confectionary imports in Singapore were valued at USD 452.3 million in 2022.
- CHOCOELF, a local Chocolatier in Singapore, announced the launch of three unique chocolate products, Fluffy Chicken Floss Chocolate Bar, Soy Brew Chocolate Bar, and Black Cold Brew Chocolate Bar.
Singapore Cocoa Market Growth
Growing demand for chocolate and confectionary, rising awareness regarding the health benefits of cocoa, and consumers prioritising sustainable products are some of the influential market drivers. Consumers are becoming increasingly aware of the sources of cocoa and the ecological and social impact of its production process. This has led the businesses in Singapore to take action by adopting green practices and getting certifications like Fairtrade and Rainforest Alliance.
The market is also shaped by the growing emphasis on health and wellness, leading to a rise in the popularity of dark chocolate, low-sugar options, and organic cocoa products. Additionally, functional cocoa products containing added vitamins and minerals are experiencing increased demand I Singapore due to their potential health benefits.
The demand for premium and artisanal chocolate products is also on the rise in Singapore as consumers are increasingly looking for high-end, specialised chocolates, resulting in the expansion of boutique chocolatiers and speciality stores that specialise in handcrafted chocolates.
Singapore Cocoa Industry Segmentation
“Singapore 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
Singapore Cocoa Market Share
Based on application, the market is divided into food and beverages, and cosmetics and pharmaceuticals, among others. Food and beverages account for a significant market share as cocoa consumption in Singapore is primarily driven by the confectionery sector, which encompasses a wide range of chocolate products such as chocolate bars, pralines, and truffles, among others. Additionally, the rising demand for premium and artisanal chocolates as well as dark and organic chocolates among consumers is boosting the segment growth.
Leading Companies in the Singapore Cocoa Market
The market players are increasing their product offerings to meet the evolving regulatory landscape.
- Cargill Inc.
- Barry Callebaut AG
- Nestle S.A.
- Mondelez International, Inc.
- BASF SE
- MEIJI Holdings Co. Ltd.
- Buhler AG
- Olam International Ltd.
- 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:
|
| Breakup by Type |
|
| Breakup by Application |
|
| Market Dynamics |
|
| 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 Asia Pacific Cocoa Market Overview
8.1 Key Industry Highlights
8.2 Asia Pacific Cocoa Historical Market (2018-2023)
8.3 Asia Pacific Cocoa Market Forecast (2024-2032)
9 Singapore Cocoa Market Overview
9.1 Key Industry Highlights
9.2 Singapore Cocoa Historical Market (2018-2023)
9.3 Singapore Cocoa Market Forecast (2024-2032)
10 Singapore 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 Singapore 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 Market Dynamics
12.1 SWOT Analysis
12.1.1 Strengths
12.1.2 Weaknesses
12.1.3 Opportunities
12.1.4 Threats
12.2 Porter’s Five Forces Analysis
12.2.1 Supplier’s Power
12.2.2 Buyer’s Power
12.2.3 Threat of New Entrants
12.2.4 Degree of Rivalry
12.2.5 Threat of Substitutes
12.3 Key Indicators for Demand
12.4 Key Indicators for Price
13 Value Chain Analysis
14 Trade Data Analysis (HS Code –1803, 1804, 1805)
14.1 Major Exporting Countries
14.1.1 By Value
14.1.2 By Volume
14.2 Major Importing Countries
14.2.1 By Value
14.2.2 By Volume
15 Price Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Cargill Inc.
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Barry Callebaut AG
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Nestle S.A.
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Mondelez International, Inc.
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 BASF SE
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 MEIJI Holdings Co. Ltd.
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 Buhler AG
16.2.7.1 Company Overview
16.2.7.2 Product Portfolio
16.2.7.3 Demographic Reach and Achievements
16.2.7.4 Certifications
16.2.8 Olam International Ltd.
16.2.8.1 Company Overview
16.2.8.2 Product Portfolio
16.2.8.3 Demographic Reach and Achievements
16.2.8.4 Certifications
16.2.9 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Asia Pacific Cocoa Market: Key Industry Highlights, 2018 and 2032
2. Singapore Cocoa Market: Key Industry Highlights, 2018 and 2032
3. Singapore Cocoa Historical Market: Breakup by Type (USD Million), 2018-2023
4. Singapore Cocoa Market Forecast: Breakup by Type (USD Million), 2024-2032
5. Singapore Cocoa Historical Market: Breakup by Application (USD Million), 2018-2023
6. Singapore Cocoa Market Forecast: Breakup by Application (USD Million), 2024-2032
7. Major Exporting Countries by Value
8. Major Importing Countries by Value
9. Major Exporting Countries by Volume
10. Major Importing Countries by Volume
11. Singapore Cocoa Market Structure
Key Questions Answered in the Report
The market is estimated to grow at a CAGR of 4.20% between 2024 and 2032.
The market is being driven due to growing demand for chocolate and confectionary, rising awareness regarding the health benefits of cocoa, and consumers prioritising sustainable products.
The key trends aiding the market include a rise in the popularity of dark chocolate, low-sugar options, and organic cocoa products and high demand for premium and artisanal chocolate products.
Based on type, market segmentations include cocoa butter, cocoa powder, and cocoa liquor.
Different applications are food and beverages and cosmetics and pharmaceuticals, among others.
The major players in the market are Cargill Inc., Barry Callebaut AG, Nestle S.A., Mondelez International, Inc., BASF SE, MEIJI Holdings Co. Ltd., Buhler AG, and Olam International Ltd., among others.
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