The Latin America, Middle East and Africa Cocoa Derivatives Market would witness market growth of 7.8% CAGR during the forecast period (2023-2030). In the year 2026, the LAMEA market's volume is expected to surge to 191.2 kilo tonnes, showcasing a growth of 9.6% (2023-2030).
A prominent trend in the cocoa derivatives market is the rise of premium and artisanal chocolates. Consumers are increasingly seeking unique and high-quality chocolate experiences, leading to the exploration of single-origin cocoa derivatives, unique flavor profiles, and ethically sourced ingredients. The dominance of dark chocolate, with its higher cocoa content, is a prevailing trend. Dark chocolate has health benefits, including antioxidant properties and mood enhancement. This trend has influenced chocolate manufacturers and consumers, driving the demand for cocoa derivatives with elevated concentrations.
The cocoa industry has significantly shifted toward sustainable and ethical sourcing practices. Certification programs, such as Rainforest Alliance and Fair Trade, have become increasingly well-known due to their emphasis on environmentally sustainable cocoa cultivation, equitable compensation for producers, and responsible agricultural practices. Innovation in flavor profiles and inclusions is a dynamic trend shaping the market. Manufacturers are experimenting with unique cocoa blends, infusions, and inclusions such as spices, herbs, and fruits to create distinctive and indulgent chocolate products that cater to evolving consumer palates.
The LAMEA region has witnessed significant population growth and urbanization, leading to increased consumer spending and a higher demand for confectionery and chocolate products. Shifting consumer preferences towards chocolate-based products and confectioneries have driven the demand for cocoa derivatives. As consumers in the LAMEA region adopt more westernized lifestyles, the consumption of chocolate and cocoa-based products tends to rise. Therefore, increasing demand for cocoa products and the rising food and beverage sector in the LAMEA region will help expand the regional market.
The Brazil market dominated the LAMEA Cocoa Derivatives Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $922.9 million by 2030. The Argentina market is registering a CAGR of 8.4% during (2023 - 2030). Additionally, The UAE market would showcase a CAGR of 7.5% during (2023 - 2030).
Based on Application, the market is segmented into Food & Beverage, Personal Care & Cosmetics, and Others. Based on Distribution Channel, the market is segmented into B2B, and B2C (Hypermarkets/Supermarkets, Wholesale Stores, Online sales, and Others). Based on Product, the market is segmented into Cocoa Powder, Cocoa Butter, Cocoa Mass/Liquor, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Cocoa Derivatives Market is Projected to reach USD 35.4 Billion by 2030, at a CAGR of 6.1%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Olam Group Limited (Temasek Capital), Cargill, Incorporated, JB Foods Limited, The Barry Callebaut Group, Indcre, S.A., Moner Cocoa, S.A., BASF SE, Buhler Group, Mondelez International, Inc., and Nestle S.A.
By Application (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Distribution Channel (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Product (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Country (Volume, Kilo Tonnes, USD Billion, 2019-2030)
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