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 4.0% from 2019 to 2024.

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Cocoa Beans Market Worldwide Analysis:
Cocoa bean is a seed of a tropical tree called ‘Cacao’ that is used primarily in the production of chocolate, cocoa, cocoa butter and many other food consumables. Cocoa beans are a rich source of antioxidants. There is an inverse association between the consumption of cocoa and the risk of cardiovascular diseases.

The key factor of 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. Chocolates are the major product that utilize cocoa bean in their manufacturing and since, the demand for chocolates is rising at a prolific rate; this demand is also driving the global cocoa market.

Cocoa Beans Market Segmentation Outlook:

Cocoa Beans Market by Type:
Cocoa Beans market is segmented into:
Criollo
Trinitario, and
Forastero.

Cocoa Beans Market by Application:
Categorised into:
Chocolate
Food & beverage
Pharmaceuticals, and
Cosmetics.

Cocoa Beans Market by Product:
Various products of the cocoa beans are cocoa butter, cocoa powder, cocoa beverages, cocoa cosmetic products, and others.

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Cocoa Beans Market by Geography:
Based on geography, the global cocoa beans market has been segmented into North America, Europe, Asia Pacific and Rest of the World. North America comprises U.S., Canada, and Mexico whereas Europe would primarily cover Germany, France, UK, Italy, and Rest of Europe. The key countries included under Asia Pacific are China, Japan, India, Australia, and Rest of Asia Pacific.

Cocoa Beans Market Leaders:
Some of the key players in the global cocoa beans market include Cargill Incorporated, Barry Callebaut, Cemoi, Artisan Confections Company, PASCHA Company, InterNatural Foods LLC, Olam Group, The Mexican Arabica Bean Company, Tomric Systems, Inc., Cacao Bahia, Dutch Cocoa, Cocoa Supply Company, Cocoa Processing Co. Ltd., Casa Franceschi, Costa Esmeraldas Cacao Co., Agrofloresta, Meridian Cacao Company, and Jedwards International among others.

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