The Europe Cocoa Market would witness market growth of 4.3% CAGR during the forecast period (2023-2030). In the year 2020, the Europe market's volume surged to 1,009.3 Kilo Tonnes, showcasing a growth of 4.4% (2019-2022).
The pharmaceutical industry has adopted cocoa for its potential health benefits. Research on the antioxidant properties of this has led to the development of cocoa-based supplements and pharmaceutical formulations. The adoption of this in this sector reflects a growing interest in exploring natural ingredients for their medicinal properties and preventive health benefits. The adoption of this in creating gourmet and artisanal products is a testament to changing consumer preferences.
This trend reflects a shift towards valuing the quality and origin of cocoa in pursuing elevated culinary experiences. Adopting this in functional foods responds to the increasing demand for healthier alternatives. It's incorporation into energy bars, protein snacks, and other functional food products aligns with the trend of balancing indulgence with nutritional benefits. This adoption is driven by consumers seeking convenient and nutritious options without compromising taste.
According to the International Trade Administration, in Spain, e-commerce consumers reached 30 million in 2021. Internet penetration is 83%, while eCommerce penetration is 63%. The number of eCommerce users is predicted to increase by 25% to 37 million by 2025. E-commerce platforms allow these businesses to sell directly to consumers in Spain, eliminating the need for intermediaries. Online platforms make such products easily accessible to consumers in Spain. E-commerce has facilitated the growth of specialty and artisanal products in Spain. Thus, all these factors will uplift the regional market’s expansion in the coming years.
The Germany market dominated the Europe Cocoa Market, by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $2,925.2 Million by 2030. The UK market is exhibiting a CAGR of 3.3% during (2023 - 2030). Additionally, The France market would experience a CAGR of 5.1% during (2023 - 2030).
Free Valuable Insights: The Global Cocoa Market will Hit USD 38.3 Billion by 2030, at a CAGR of 4.8%
Based on Application, the market is segmented into Confectionery, Food & Beverages, Cosmetics, and Pharmaceutical. Based on Product Type, the market is segmented into Cocoa Beans, Cocoa Powder & Cake, Cocoa Butter, Chocolate, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
By Application (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Product Type (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Country (Volume, Kilo Tonnes, USD Billion, 2019-2030)
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