The cocoa beans market is expected to reach US$ 26.58 Billion by 2032.
The cocoa beans market market is expected grow at a CAGR of 7.2% between 2023 to 2032.
The cocoa beans market was estimated to be US$ 13.25 Billion in 2022.
Some key players operating in the Cocoa Beans market include Cargill Incorporated, Barry Callebaut, Cemoi, Artisan Confections Company, PASCHA Company, InterNatural Foods LLC, Olam Group, The Mexican Arabica Bean Company.
The key factor driving growth of the global cocoa beans market is the rising demand for Criollo product type from the chocolate industry. In addition, the market has also been witnessing high demand from the cosmetic and food industry which is further increasing the demand for cocoa beans in the global marketplace.
Among the various applications, the use of cocoa beans in the production of chocolates accounted for larger share of the market. This segment is further expected to remain dominant in the near future expanding at a CAGR of 4.1% by 2024.
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