Cocoa Beans Value Chain Analysis Market Size

Cocoa Value Chain Market Analysis

The Cocoa Beans Market size is estimated at USD 14.70 billion in 2024, and is expected to reach USD 16.47 billion by 2029, growing at a CAGR of 2.30% during the forecast period (2024-2029).

• The demand for cocoa beans as intermediates is predicted to rise as the chocolate industry in emerging economies, such as China and India. The product finds application in industries such as functional food and beverage, confectionery, pharmaceuticals, and cosmetics. There has been a rising demand for chocolate variants, such as milk chocolate, brownies, and dark chocolate.
• According to the Food and Agriculture Organization (FAO), in the year 2020, Côte d'Ivoire, Ghana, Indonesia, Nigeria, and Ecuador were the critical producer of cocoa beans volumed at 2,200.0 thousand metric tons, followed by 800.0 thousand metric tons, 739.4 thousand metric ton, 340.1 thousand metric ton, and 327.9 thousand metric ton.
• Small traders buy cocoa beans directly from farmers, visiting them one by one. In the second stage, small buyers sell the beans to wholesalers, who will re-sell them to exporters. At the other extreme of the spectrum, cocoa beans are sold directly to exporters by farmers' cooperatives or even now exported by the cooperative.
• Although the cocoa sector is growing significantly, various vital risks on the cocoa supply side can limit the potential expansion of the industry. Price volatility and income disparity across the value chain remain a persistent challenge in the sector. These challenges can be addressed by coordinated efforts between industry participants, including governments, standard-setting bodies, development organizations, and private companies, to ensure that the continued growth in cocoa demand is equitably shared across the value chain.