The global organic cocoa market was valued at USD 657.17 million in 2023 and is projected to grow from USD 705.40 million in 2024 to USD 1,273.82 million by 2032, exhibiting a CAGR of 7.67% during the forecast period. This information is provided by Fortune Business Insights™ in its report titled “Organic Cocoa Market, 2024-2032.”
According to the report, consumers are increasingly opting for healthier, safer products to support their health and reduce the risk of lifestyle-related health disorders, which is expected to drive demand for organic cocoa. Additionally, cocoa is one of the richest sources of polyphenols and is packed with vital nutrients, including flavonols, known for their effective antioxidant and anti-inflammatory properties. Consequently, the health-conscious population prefers to consume organic cocoa for its nutritional benefits.
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Report Coverage
The report provides a systematic study of the market segments along with a thorough analysis of the market overview. It offers a thoughtful assessment of current market trends and upcoming opportunities. Additionally, the report includes an extensive analysis of regional insights and their relation to market growth. The impacts of COVID-19 are discussed to help stakeholders and business owners understand the potential risks in this industry. Furthermore, the report highlights key players and their primary strategies for maintaining their leading positions in the market.
Segmentation
The market is segmented by type into cocoa butter, cocoa liquor, and cocoa powder. Cocoa butter is the leading type of organically produced product, holding the largest market share of 62.90% as of 2020, primarily due to its widespread use in the manufacturing of chocolate confectioneries.
In terms of application, the market is further divided into confectionery, beverages, bakery products, and others. Geographically, the market is classified into North America, Europe, Asia Pacific, South America, and the Middle East and Africa.
Drivers and Restraints
Surging Popularity of Organic Food Produces to Stimulate Market Growth
The fast-paced modern lifestyle of consumers worldwide has rapidly changed their food purchasing habits. Customers are increasingly seeking healthier products with safe properties that support overall well-being. Organic goods, which are grown without pesticides, align with this trend. The rising preference for natural, chemical-free foods positively impacts the demand for organically grown cocoa, particularly within the food and beverage industry. The growing popularity of organic chocolate confectioneries, desserts, bakery products, and beverages has fueled market growth over the years.
Additionally, the rising trend of consuming clean-label goods, especially in developed markets like Europe and North America, further boosts this industry. Prominent producers and cocoa processors are focusing on investing in research and development of advanced products to reach a broader customer base, which is expected to support market growth. The positive development of organic agricultural practices and the expansion of the organic food supply chain are anticipated to drive the organic cocoa market’s growth in the coming years.
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Regional Insights
Europe to Dominate Backed by Surging Health Conscious People in Germany and France
Europe generated USD 219.59 million in revenue in 2020 and is projected to be a key market for chocolate and cocoa products due to the growing awareness of safe alternatives to traditional products. Leading countries in Europe, such as Germany, France, and Italy, are increasingly focused on maintaining a healthy lifestyle, which has boosted the demand for organic products.
In North America, the evolving trend toward clean-label, fair-traded, and ethically sourced food products in markets like the U.S. and Canada has significantly driven regional market growth.
The Asia Pacific region is experiencing healthy market growth, supported by rising disposable income levels among consumers. As customers become more capable of spending on beneficial products, the demand for organic cocoa has increased across the confectionery, beverage, bakery, and dairy industries.
Competitive Landscape
The Hershey Company Concentrates on Portfolio Extension to Reinforce its Existence in Market
The Hershey Company, a leading chocolate confectionery corporation globally, is actively investing in the expansion of its product portfolio to strengthen its market presence. For instance, in February 2021, The Hershey Company announced plans to introduce a range of organic, sugar-free chocolate products in response to the growing trend for organic and premium chocolate sweets. This initiative reflects the company’s commitment to meeting evolving consumer preferences and capitalizing on market opportunities.
Industry Development
March 2020: India-based Pascati has innovated and developed 14 different variations of organic chocolates by utilizing organic cocoa obtained from Kerala, India.
List of Key Players Covered in the Market Report
- Olam International Limited (Singapore)
- Barry Callebaut AG (Zurich, Switzerland)
- Tradin Organic Agricultural B.V. (Amsterdam, Netherlands)
- Conacado Agro Industrial S.A. (Dominican Republic)
- Cargill, Inc. (Minnesota, U.S.)
- Blommer Chocolate Co. (Pennsylvania, U.S.)
- Pascha Chocolate Co. (Ontario, U.S.)
- Guan Chong Berhad (Malaysia)
- The Hershey Company (Pennsylvania, U.S.)
- Jindal Cocoa (Mumbai, India)
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