Asia Pacific Cocoa Derivatives Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Cocoa Butter, Cocoa Beans, Cocoa Powder, and Others), Category (Organic and Conventional), and Application [Food and Beverages (Bakery and Confectionery, Dairy and Frozen Desserts, Beverages, and Other Food and Beverages), Personal Care, and Other]

BMIRE00028214 | Pages: 128 | Food and Beverages | Mar 2023 | Type: Regional | Status: Published

The Asia Pacific cocoa derivatives market is expected to grow from US$ 6,374.48 million in 2022 to US$ 9,264.06 million by 2028; it is estimated to grow at a CAGR of 6.4% from 2022 to 2028.

Mounting Demand for Cocoa-Based Confectioneries

Cocoa is increasingly being used in formulating different beverages and confectionery products, such as milkshakes, cakes, croissants, and hot cocoa. The influx of cocoa-based confectioneries has increased tremendously in developed and developing economies in the last several years due to growing consumer spending on various indulgent confectioneries, particularly chocolate-based products, and the surging popularity of molded and countline chocolates. Moreover, key manufacturers are adding new chocolate types, such as dark chocolate and ruby chocolate, to their portfolio. In February 2022, Hershey's created the limited-edition "Celebrate SHE" cocoa-based bars to commemorate all women and girls. The brand highlighted “SHE” in the center of the milk cocoa-based bar. The launch of such innovative cocoa-based confectioneries would further accelerate the cocoa derivatives market growth.

According to a survey by the Associated Chambers of Commerce and Industry of India (Assocham), adulteration in traditional sweets, leading to a decrease in consumer confidence, and the rising prices of dry fruits are driving the popularity of cocoa-based confectioneries. Moreover, acceptance of chocolates, consistency in quality, attractive packaging, rising urban influence on youth, high disposable incomes, and sweet tooth together are the other prominent aspects that bolster the popularity of cocoa-based confectioneries. The flourishing trend of gifting chocolates during festivities also favors the demand for cocoa derivatives. Thus, the overall increase in demand for cocoa-based confectioneries drives the growth of the cocoa derivatives market.

 

Asia Pacific Cocoa Derivatives Market Overview

 

The cocoa derivatives market in Asia Pacific is further segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. According to the May 2019 data by Olam Cocoa researchers, the demand for cocoa powder in Asia is set to increase at a CAGR of 8% over the next 5 years. China, India, Japan, and the Philippines are likely to be the major demand generators in the region. Considering this, major players in the cocoa derivatives market have been focusing on the strategic expansion of their footprints in the region. For instance, Olam International Limited, a food and agri-business, has announced the acquisition of an 85% share of YTS Holdings Pte Limited, which is 100% owner of PT Bumitangerang Mesindotama (BT Cocoa), for a consideration of US$ 90 million.

Further, populations in Asia Pacific countries are becoming more aware of the benefits of cocoa and cocoa derivatives. Cocoa is rich in micronutrients, polyphenols, and potent antioxidants flavanols, which help reduce inflammation, lower blood pressure, and regulate cholesterol and blood sugar levels. As a result, manufacturers in the food & beverages industry are increasingly incorporating cocoa derivatives, such as cocoa beans and powder, in ice creams, snacks, protein powder, etc. Additionally, consumers are more inclined toward sweet-savory indulgence, due to which businesses are launching sweet-salty snacks in the region. Asia Pacific accounted for ~58% of the global launches of chocolate-flavored salty snacks in 2018. In this, Japan alone experienced 12% of these launches. Hence, the increasing incorporation of cocoa derivatives in bakery products and confectioneries, desserts, and local food varieties fuels the demand for cocoa derivatives in Asia Pacific.

 

Asia Pacific Cocoa Derivatives Market Revenue and Forecast to 2028 (US$ Million)

 

Asia Pacific Cocoa Derivatives Market Revenue and Forecast to 2028 (US$ Million)

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Asia Pacific Cocoa Derivatives Market Segmentation

 

The Asia Pacific cocoa derivatives market is segmented based on type, category, application, and country. Based on type, the Asia Pacific cocoa derivatives market is segmented into cocoa butter, cocoa beans, cocoa powder, and others. The cocoa beans segment held the largest market share in 2022.

 

Based on category, the Asia Pacific cocoa derivatives market is bifurcated into organic and conventional. The conventional segment held a larger market share in 2022.

 

Based on application, the Asia Pacific cocoa derivatives market is segmented into food and beverages, personal care, and other. The food and beverages segment held the largest market share in 2022. Further, food and beverages are segmented into bakery and confectionery, dairy and frozen desserts, beverages, and others.

 

Based on country, the Asia Pacific cocoa derivatives market is segmented into China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific. The Rest of Asia Pacific dominated the Asia Pacific cocoa derivatives market share in 2022.

 

Olam Group Ltd; Indcre SA; Cargill Inc; Natra SA; JB Foods Ltd; United Cocoa Processor Inc.; Barry Callebaut AG; Moner Cocoa SA; and Altınmarka Gıda San. ve Tic. A.Ş. are the leading companies operating in the Asia Pacific cocoa derivatives market.

1.         Introduction

1.1         Study Scope

1.2         The Insight Partners Research Report Guidance

1.3         Market Segmentation

1.3.1        Asia Pacific Cocoa Derivatives Market, by Type

1.3.2        Asia Pacific Cocoa Derivatives Market, by Category

1.3.3        Asia Pacific Cocoa Derivatives Market, by Application

1.3.4        Asia Pacific Cocoa Derivatives Market, by Country

2.           Key Takeaways

3.        Research Methodology

3.1         Scope of the Study

3.2         Research Methodology

3.2.1        Data Collection:

3.2.2        Primary Interviews:

3.2.3        Hypothesis formulation:

3.2.4        Macro-economic factor analysis:

3.2.5        Developing base number:

3.2.6        Data Triangulation:

3.2.7        Country level data:

4.           Asia Pacific Cocoa Derivatives Market Landscape

4.1         Market Overview

4.2         Porter's Five Forces Analysis

4.2.1        Bargaining Power of Suppliers

4.2.2        Bargaining Power of Buyers

4.2.3        Threat of New Entrants

4.2.4        Intensity of Competitive Rivalry

4.2.5        Threat of Substitutes

4.3         Ecosystem Analysis

4.3.1        Raw Material Suppliers:

4.3.2        Manufacturers:

4.3.3        Distributors or Suppliers:

4.3.4        End Use Industry:

4.4         Expert Opinion

5.           Asia Pacific Cocoa Derivatives Market — Key Market Dynamics

5.1         Market Drivers

5.1.1        Mounting Demand for Cocoa-Based Confectioneries

5.1.2        Use of Cocoa as Sustainable Beauty Ingredient in Cosmetics Industry

5.2         Market Restraints

5.2.1        Fluctuations in Expenses of Cocoa

5.3         Opportunities

5.3.1        Cumulative for Organic and Fairtrade Cocoa Derivatives

5.4         Future Trends

5.4.1        Clean-Label Products

5.5         Impact Analysis

6.           Cocoa Derivatives – Asia Pacific Market Analysis

6.1         Asia Pacific Cocoa Derivatives Market –Revenue and Forecast to 2028 (US$ Million)

7.           Asia Pacific Cocoa Derivatives Market Analysis – By Type

7.1         Overview

7.2         Cocoa Derivatives Market, By Type (2021 and 2028)

7.3         Cocoa Butter

7.3.1        Overview

7.3.2        Cocoa Butter: Cocoa Derivatives Market – Revenue and Forecast to 2028 (US$ Million)

7.4         Cocoa Beans

7.4.1        Overview

7.4.2        Cocoa Beans: Cocoa Derivatives Market – Revenue and Forecast to 2028 (US$ Million)

7.5         Cocoa Powder

7.5.1        Overview

7.5.2        Cocoa Powder: Cocoa Derivatives Market – Revenue and Forecast to 2028 (US$ Million)

7.6         Others

7.6.1        Overview

7.6.2        Others: Cocoa Derivatives Market – Revenue and Forecast to 2028 (US$ Million)

8.           Asia Pacific Cocoa Derivatives Market Analysis – By Category

8.1         Overview

8.2         Cocoa Derivatives Market, By Category (2021 and 2028)

8.3         Organic

8.3.1        Overview

8.3.2        Organic: Cocoa Derivatives Market – Revenue and Forecast to 2028 (US$ Million)

8.4         Conventional

8.4.1        Overview

8.4.2        Conventional: Asia Pacific Cocoa Derivatives Market – Revenue and Forecast to 2028 (US$ Million)

9.           Asia Pacific Cocoa Derivatives Market Analysis – By Application

9.1         Overview

9.2         Cocoa Derivatives Market, By Application (2021 and 2028)

9.3         Food and Beverages

9.3.1        Overview

9.3.2        Food and Beverages: Cocoa Derivatives Market – Revenue and Forecast to 2028 (US$ Million)

9.3.3        Bakery & Confectionery

9.3.3.1          Overview

9.3.4        Dairy & Frozen Desserts

9.3.4.1          Overview

9.3.5        Beverages

9.3.5.1          Overview

9.3.6        Others

9.3.6.1          Overview

9.4         Personal Care

9.4.1        Overview

9.4.2        Personal Care: Cocoa Derivatives Market – Revenue and Forecast to 2028 (US$ Million)

9.5         Others

9.5.1        Overview

9.5.2        Others: Cocoa Derivatives Market – Revenue and Forecast to 2028 (US$ Million)

10.        Asia Pacific Cocoa Derivatives Market – by Country Analysis

10.1      Asia Pacific: Cocoa Derivatives Market

10.1.1     Asia Pacific: Cocoa Derivatives Market, by Key Country

10.1.1.1       China: Cocoa Derivatives Market –Revenue and Forecast to 2028 (US$ Million)

10.1.1.1.1       China: Cocoa Derivatives Market, By Type

10.1.1.1.2       China: Cocoa Derivatives Market, by Category

10.1.1.1.3       China: Cocoa Derivatives Market, by Application

10.1.1.2       Japan: Cocoa Derivatives Market –Revenue and Forecast to 2028 (US$ Million)

10.1.1.2.1       Japan: Cocoa Derivatives Market, By Type

10.1.1.2.2       Japan: Cocoa Derivatives Market, by Category

10.1.1.2.3       Japan: Cocoa Derivatives Market, by Application

10.1.1.3       India: Cocoa Derivatives Market –Revenue and Forecast to 2028 (US$ Million)

10.1.1.3.1       India: Cocoa Derivatives Market, by Type

10.1.1.3.2       India: Cocoa Derivatives Market, by Category

10.1.1.3.3       India: Cocoa Derivatives Market, by Application

10.1.1.4       Australia: Cocoa Derivatives Market –Revenue and Forecast to 2028 (US$ Million)

10.1.1.4.1       Australia: Cocoa Derivatives Market, By Type

10.1.1.4.2       Australia: Cocoa Derivatives Market, by Category

10.1.1.4.3       Australia: Cocoa Derivatives Market, by Application

10.1.1.5       South Korea: Cocoa Derivatives Market –Revenue and Forecast to 2028 (US$ Million)

10.1.1.5.1       South Korea: Cocoa Derivatives Market, By Type

10.1.1.5.2       South Korea: Cocoa Derivatives Market, by Category

10.1.1.5.3       South Korea: Cocoa Derivatives Market, by Application

10.1.1.6       Rest of Asia Pacific: Cocoa Derivatives Market –Revenue and Forecast to 2028 (US$ Million)

10.1.1.6.1       Rest of Asia Pacific: Cocoa Derivatives Market, By Type

10.1.1.6.2       Rest of Asia Pacific: Cocoa Derivatives Market, by Category

10.1.1.6.3       Rest of Asia Pacific: Cocoa Derivatives Market, by Application

11.        Industry Landscape

11.1      Product launch

11.2      Expansion

12.        Company Profiles

12.1      Olam Group Ltd

12.1.1     Key Facts

12.1.2     Business Description

12.1.3     Products and Services

12.1.4     Financial Overview

12.1.5     SWOT Analysis

12.1.6     Key Developments

12.2      Indcre SA

12.2.1     Key Facts

12.2.2     Business Description

12.2.3     Products and Services

12.2.4     Financial Overview

12.2.5     SWOT Analysis

12.2.6     Key Developments

12.3      Cargill Inc

12.3.1     Key Facts

12.3.2     Business Description

12.3.3     Products and Services

12.3.4     Financial Overview

12.3.5     SWOT Analysis

12.3.6     Key Developments

12.4      Natra SA

12.4.1     Key Facts

12.4.2     Business Description

12.4.3     Products and Services

12.4.4     Financial Overview

12.4.5     SWOT Analysis

12.4.6     Key Developments

12.5      JB Foods Ltd

12.5.1     Key Facts

12.5.2     Business Description

12.5.3     Products and Services

12.5.4     Financial Overview

12.5.5     SWOT Analysis

12.5.6     Key Developments

12.6      United Cocoa Processor Inc

12.6.1     Key Facts

12.6.2     Business Description

12.6.3     Products and Services

12.6.4     Financial Overview

12.6.5     SWOT Analysis

12.6.6     Key Developments

12.7      Barry Callebaut AG

12.7.1     Key Facts

12.7.2     Business Description

12.7.3     Products and Services

12.7.4     Financial Overview

12.7.5     SWOT Analysis

12.7.6     Key Developments

12.8      Moner Cocoa SA

12.8.1     Key Facts

12.8.2     Business Description

12.8.3     Products and Services

12.8.4     Financial Overview

12.8.5     SWOT Analysis

12.8.6     Key Developments

12.9      Altnmarka Gda San. ve Tic. A..

12.9.1     Key Facts

12.9.2     Business Description

12.9.3     Products and Services

12.9.4     Financial Overview

12.9.5     SWOT Analysis

12.9.6     Key Developments

13.        Appendix

13.1      About The Insight Partners

13.2      Glossary of Terms

LIST OF TABLES

Table 1.             Asia Pacific Cocoa Derivatives Market –Revenue and Forecast to 2028 (US$ Million)

Table 2.             China Cocoa Derivatives Market, By Type – Revenue and Forecast to 2028 (US$ Million)

Table 3.             China Cocoa Derivatives Market, by Category – Revenue and Forecast to 2028 (US$ Million)

Table 4.             China Cocoa Derivatives Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 5.             China Cocoa Derivatives market, by Food and Beverages – Revenue and Forecast to 2028 (USD Million)

Table 6.             Japan Cocoa Derivatives Market, By Type – Revenue and Forecast to 2028 (US$ Million)

Table 7.             Japan Cocoa Derivatives Market, by Category – Revenue and Forecast to 2028 (US$ Million)

Table 8.             Japan Cocoa Derivatives Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 9.             Japan Cocoa Derivatives market, by Food and Beverages – Revenue and Forecast to 2028 (USD Million)

Table 10.          India Cocoa Derivatives Market, By Type – Revenue and Forecast to 2028 (US$ Million)

Table 11.          India Cocoa Derivatives Market, by Category – Revenue and Forecast to 2028 (US$ Million)

Table 12.          India Cocoa Derivatives Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 13.          India Cocoa Derivatives market, by Food and Beverages – Revenue and Forecast to 2028 (USD Million)

Table 14.          Australia Cocoa Derivatives Market, By Type– Revenue and Forecast to 2028 (US$ Million)

Table 15.          Australia Cocoa Derivatives Market, by Category – Revenue and Forecast to 2028 (US$ Million)

Table 16.          Australia Cocoa Derivatives Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 17.          Australia Cocoa Derivatives market, by Food and Beverages – Revenue and Forecast to 2028 (USD Million)

Table 18.          South Korea Cocoa Derivatives Market, By Type – Revenue and Forecast to 2028 (US$ Million)

Table 19.          South Korea Cocoa Derivatives Market, by Category – Revenue and Forecast to 2028 (US$ Million)

Table 20.          South Korea Cocoa Derivatives Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 21.          South Korea Cocoa Derivatives market, by Food and Beverages – Revenue and Forecast to 2028 (USD Million)

Table 22.          Rest of Asia Pacific Cocoa Derivatives Market, By Type – Revenue and Forecast to 2028 (US$ Million)

Table 23.          Rest of Asia Pacific Cocoa Derivatives Market, by Category – Revenue and Forecast to 2028 (US$ Million)

Table 24.          Rest of Asia Pacific Cocoa Derivatives Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 25.          Rest of Asia Pacific Cocoa Derivatives market, by Food and Beverages – Revenue and Forecast to 2028 (USD Million)

Table 26.          Glossary of Terms, Cocoa Derivatives Market

LIST OF FIGURES

Figure 1.           Asia Pacific Cocoa Derivatives Market Segmentation

Figure 2.           Asia Pacific Cocoa Derivatives Market Segmentation: By Country

Figure 3.           Asia Pacific Cocoa Derivatives Market Overview

Figure 4.           Asia Pacific Cocoa Derivatives Market, By Category

Figure 5.           Asia Pacific Cocoa Derivatives Market, by Country

Figure 6.           Asia Pacific Porter's Five Forces Analysis

Figure 7.           Asia Pacific Ecosystem: Cocoa Derivatives Market

Figure 8.           Asia Pacific Expert Opinion

Figure 9.           Asia Pacific Cocoa Derivatives Market Impact Analysis of Drivers and Restraints

Figure 10.        Asia Pacific Cocoa Derivatives Market – Revenue and Forecast to 2028 (US$ Million)

Figure 11.        Asia Pacific Cocoa Derivatives Market Revenue Share, By Type (2021 and 2028)

Figure 12.        Cocoa Butter: Asia Pacific Cocoa Derivatives Market – Revenue and Forecast To 2028 (US$ Million)

Figure 13.        Cocoa Beans: Asia Pacific Cocoa Derivatives Market – Revenue and Forecast To 2028 (US$ Million)

Figure 14.        Cocoa Powder: Asia Pacific Cocoa Derivatives Market – Revenue and Forecast To 2028 (US$ Million)

Figure 15.        Others: Asia Pacific Cocoa Derivatives Market – Revenue and Forecast To 2028 (US$ Million)

Figure 16.        Asia Pacific Cocoa Derivatives Market Revenue Share, By Category (2021 and 2028)

Figure 17.        Organic: Asia Pacific Cocoa Derivatives Market – Revenue and Forecast To 2028 (US$ Million)

Figure 18.        Conventional: Asia Pacific Cocoa Derivatives Market – Revenue and Forecast To 2028 (US$ Million)

Figure 19.        Asia Pacific Cocoa Derivatives Market Revenue Share, By Application (2021 and 2028)

Figure 20.        Food and Beverages: Asia Pacific Cocoa Derivatives Market – Revenue and Forecast To 2028 (US$ Million)

Figure 21.        Personal Care: Asia Pacific Cocoa Derivatives Market – Revenue and Forecast To 2028 (US$ Million)

Figure 22.        Others: Asia Pacific Cocoa Derivatives Market – Revenue and Forecast To 2028 (US$ Million)

Figure 23.        Asia Pacific: Cocoa Derivatives Market, by Key Country – Revenue (2021) (US$ Million)

Figure 24.        Asia Pacific: Cocoa Derivatives Market Revenue Share, by Key Country (2021 and 2028)

Figure 25.        China: Cocoa Derivatives Market –Revenue and Forecast to 2028 (US$ Million)

Figure 26.        Japan: Cocoa Derivatives Market –Revenue and Forecast to 2028 (US$ Million)

Figure 27.        India: Cocoa Derivatives Market –Revenue and Forecast to 2028 (US$ Million)

Figure 28.        Australia: Cocoa Derivatives Market –Revenue and Forecast to 2028 (US$ Million)

Figure 29.        South Korea: Cocoa Derivatives Market –Revenue and Forecast to 2028 (US$ Million)

Figure 30.        Rest of Asia Pacific: Cocoa Derivatives Market –Revenue and Forecast to 2028 (US$ Million)

  1. Olam Group Ltd
  2. Indcre SA
  3. Cargill Inca
  4. Natra SA
  5. JB Foods Ltd
  6. United Cocoa Processor Inc.
  7. Barry Callebaut AG
  8. Moner Cocoa SA
  9. Alt?nmarka G?da San. ve Tic. A.?.
  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Asia Pacific cocoa derivatives market.
  • Highlights key business priorities in order to assist companies to realign their business strategies
  • The key findings and recommendations highlight crucial progressive industry trends in the Asia Pacific cocoa derivatives market, thereby allowing players across the value chain to develop effective long-term strategies
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
  • Scrutinize in-depth Asia Pacific market trends and outlook coupled with the factors driving the Asia Pacific cocoa derivatives market, as well as those hindering it
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution
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