Cocoa Beans Market Size (2024 - 2029)

Cocoa Beans Market Analysis

The Cocoa Beans Market size is estimated at USD 17.24 billion in 2024, and is expected to reach USD 23.97 billion by 2029, at a CAGR of 6.81% during the forecast period (2024-2029).

• Cocoa beans, a lucrative cash crop, have been in demand for ages due to their diverse applications and health benefits. Their widespread use spans the food and beverage, confectionery, and cosmetic industries. Globally, there's a surging appetite for chocolate variants, including milk chocolate, brownies, and dark chocolate. Moreover, consumers are gravitating toward premium chocolates crafted from high-quality cocoa. The rising preference for single-origin, organic, and artisanal chocolates is boosting the demand for specialty cocoa beans, particularly from Latin America and Africa. In Europe and North America, the demand for organic cocoa is surging, with consumers showing a willingness to pay a premium for organic-certified products. For instance, according to Research Institute of Organic Agriculture, FiBL, Germany is Europe’s largest organic market. In 2022, German retail sales of organic products including organic cocoa beans reached a 6.30% market share.
• Cocoa beans thrive mainly in tropical regions, with West Africa dominating global production. Ivory Coast (Côte d’Ivoire) is the world's leading cocoa producer, responsible for roughly 40% of the global output. For instance, according to FAOSTAT, Ivory Coast produced 2,228,459 metric tons of cocoa beans in 2022, slightly increasing to 2,230,000 metric tons in 2023. Cocoa plays a pivotal role in the Ivorian economy, supporting millions of farmers. Ghana follows as the second-largest producer, contributing about 20% to the global cocoa supply.
• In addition, The Netherlands is one of the world's largest cocoa bean importers. Recent data from the Centre for the Promotion of Imports (CBI) reveals that 98% of the cocoa beans imported by the Netherlands were sourced directly from producing nations. As African cocoa bean production rises, so do the Netherlands' import volumes, solidifying its status as a key cocoa trade hub in Europe. Notably, the Amsterdam port stands out as the primary center for re-exporting cocoa beans and semi-finished cocoa products to various European destinations.

Cocoa Beans Industry Segmentation

The cocoa beans, the seed of the cacao tree (Theobroma cacao), are used to create cocoa and cocoa butter, key ingredients of chocolate. For the study, only full beans are considered. The Cocoa Beans Trade Market is segmented by Geography (North America, Europe, Asia-Pacific, South America, and Africa). The report includes Production analysis (Volume), Consumption analysis (Value and Volume), Export analysis (Value and Volume), Import analysis (Value and Volume), and Price trend analysis. The report offers market estimates and forecasts in terms of value(USD) and volume (metric ton) for all the above segments.