The market expansion of cocoa is primarily being driven by the rising demand for dark and premium chocolates around the world. For instance, Nestle introduced 70% dark chocolate manufactured solely from the cocoa fruit in July 2019. The product, which contains solely cocoa beans and pulp, provides natural sweetness and mild acidity without the addition of processed sugar. Regionally, the Europe region commanded a 43.8% value share of the worldwide optical coatings market in 2019, followed by North America and Asia Pacific.
By the end of 2027, the global Cocoa Market is anticipated to generate revenues of roughly US$ 15,065.0 million, rising at a CAGR of 3.4% over the forecast period (2020-2027).
Key Companies in the Cocoa Industry:
1. The Barry Callebaut Group: Established in 1996. Swiss headquarters are in Zurich. With over 13,000 employees, Barry Callebaut is a large producer and supplier of cocoa and chocolate ingredients. Customers include those who produce food and beverages as well as artisans, professional chocolatiers, pastry chefs, and bakers. Despite not owning any cocoa plantations, Barry Callebaut is vertically integrated from the acquisition of raw materials (cocoa beans) to chocolate production. About 20% of the chocolate and cocoa products sold worldwide are made with products from the company, which also generates about 40% of the industrial chocolate utilised on the open market. Barry Callebaut successfully acquired GKC Foods in 2020.
2. The Hershey Company: Established in 1865. Headquarters at Switzerland's Vevey. Nestle, which has been around for more than 150 years, is the largest food and beverage producer in the world based on sales, bringing in more than CHF 90 billion annually. Brands like Nestle, Nescafe, Perrier, Pure Life, and Purina are among the numerous products offered by this company. Almost 20% of the French cosmetics company L'Oreal is also owned by Nestle. With over 30 brands that collectively generate over CHF 1 billion in sales annually and a global footprint that spans nearly 190 countries, the company has 275,000 employees working throughout the globe. Partnership Between Nestlé and L Catterton Focused on Fresh Prepared Food.
3. Nestlé S.A.: Established in 1865. Headquarters at Switzerland's Vevey. Nestle, which has been around for more than 150 years, is the largest food and beverage producer in the world based on sales, bringing in more than CHF 90 billion annually. Brands like Nestle, Nescafe, Perrier, Pure Life, and Purina are among the numerous products offered by this company. Almost 20% of the French cosmetics company L'Oreal is also owned by Nestle. With over 30 brands that collectively generate over CHF 1 billion in sales annually and a global footprint that spans nearly 190 countries, the company has 275,000 employees working throughout the globe. Partnership Between Nestlé and L Catterton Focused on Fresh Prepared Food.
4. Cargill Incorporated: Established in 1864. Headquarters in the United States. Farmer, producer, manufacturer, retailer, government, and other service providers are served by the producer of agricultural products and the provider of financial services. In addition to offering farmer services and risk management solutions, the business also sells grains and oilseeds, as well as animal nutrition, biofuels, meat and poultry, food, and industrial products, allowing customers to select the goods and services they need. Recent purchases include Aalst Chocolate (Aug 2021), Delacon (Jun 2022), and Owensboro Grain (Nov 2022).
5. Puratos Group: Established in 1919. Headquarters in Belgium, in Brussels. Manufacturer and supplier of bakery ingredients for independent producers, big-box retailers, and restaurants. Bread improvers, active bakery ingredients, bakery mixes, fillings, glazes, cakes and sponge mixes, non-dairy toppings, chocolate compounds, and more are among the company's product offerings. These products provide clients with a full range of innovative products, raw materials, and application expertise, enabling them to provide wholesome food to their communities. The Puratos Group has purchased Profimix, a provider of enhancers, bread mixes, and confectionery products for the Czech market with headquarters in Prisovice.
6. Cémoi: Established in 1814. Headquarters at France's Perpignan. Chocolate product manufacturer aiming to develop new recipes and follow market trends for the European retail sector. The company offers services that allow industrialists to outsource all or a portion of their production, including the creation of chocolate products such bars, powders, seasonal assortments, hollow filled, and other chocolate sweets.
7. Mars, Incorporated: Built in 1911. Headquarters in the United States. Virginia-based distributor of pet food and sweets. Along with rice, pre-cooked wheat items, recipe bases, marinades, sauces, pasta dinners, whole-grain mixes, thickeners, and soups, the company also sells chocolate, gums, mints, candies, and pet foods. Mars will purchase a manufacturer of wholesome food. Foods Natural by Kevin.
*Definition: Cocoa is a brown powder made from the seeds of a tropical tree. It is used in making chocolate.
