At 5.4% CAGR, the South & Central America Cocoa Derivative Market is projected to be worth US$ 3,125.16 million by 2030, says Business Market Insights

According to Business Market Insights research, the South & Central America cocoa derivative market was valued at US$ 2,285.25 million in 2022 and is expected to reach US$ 3,125.16 million by 2030, registering a CAGR of 5.4% from 2022 to 2030. Clean-label products and utilization of cocoa as sustainable beauty ingredient in cosmetics industry are the critical factors attributed to the South & Central America cocoa derivative market expansion.               

Clean-label products and growing attention toward clear labeling are the two major trends in the world that benefit the cocoa derivative market. An understandable and clear label with thorough ingredient information attract consumer to buy products. For example, companies’ claim of natural fruit/vegetable content in the product on the front side of the packaging may attract a large number of consumers. Further, manufacturers are refraining from the use of chemical additives such as emulsifiers and preservatives in cocoa products. Many companies use sunflower lecithin, a healthier and cleaner ingredient in their products, which helps them meet clean-label criteria. With the rising demand for clean-label products, manufacturers are launching different clean-label cocoa-based products. For instance, in September 2019, Barry Callebaut AG launched its clean-label cocoa powder derived from chicory root fibers. Additionally, the company has launched a cocoa powder named Bensdorp Clean, which is formulated using baking soda instead of alkalizing agents, which signifies the brand’s clean label.  

On the contrary, fluctuations in prices of cocoa hurdles the growth of South & Central America Cocoa derivative Market.

Based on type, the South & Central America Cocoa Derivatives Market is segmented into cocoa butter, cocoa beans, cocoa powder, and others. The cocoa beans segment held 35.9% share of South & Central America Cocoa derivative Market in 2022, amassing US$ 820.17 million. It is projected to garner US$ 1,101.38 million by 2030 to expand at 5.0% CAGR during 2022–2030.

Based on category, the South & Central America Cocoa Derivatives Market is bifurcated into organic and conventional. The conventional segment held 91.2% share of South & Central America Cocoa derivative Market in 2022, amassing US$ 2,084.89 million. It is projected to garner US$ 2,820.43 million by 2030 to expand at 5.2% CAGR during 2022–2030.

Based on application, the South & Central America Cocoa Derivatives Market is segmented into food and beverages, personal care, and other. The food and beverages segment held 77.8% share of South & Central America Cocoa derivative Market in 2022, amassing US$ 1,777.75 million. It is projected to garner US$ 2,386.06 million by 2030 to expand at 5.0% CAGR during 2022–2030.  

Based on country, the South & Central America Cocoa Derivatives Market is segmented into Brazil, Argentina, and the Rest of South & Central America. Our regional analysis states that Brazil captured 46.5% share of South & Central America Cocoa derivative Market in 2022. It was assessed at US$ 1,062.20 million in 2022 and is likely to hit US$ 1,466.99 million by 2030, exhibiting a CAGR of 5.5% during the forecast period.  

Key players profiles in the South & Central America Cocoa derivative Market report Barry Callebaut AG, Cargill, Inc, Ecuakao Group Ltd, Indcre SA, JB Foods Ltd, MONERA COCOA SA, Natra SA, and Olam Groupe Ltd, among others.

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