Global Cocoa Market Will Grow At A CAGR Of 3.14% During The Period 2016-2020
Cocoa is cultivated primarily in countries located in the belt between 10N and 10S of the equator on account of the favorable climatic conditions. The demand for cocoa is increasing rapidly with the growth of chocolate confectioneries and other end-products. Cocoa production is characterized by the presence of small-scale farmers who have limited access to finance and technology, as well as dated skills. Cocoa production is likely to grow over the next few years with the incorporation of modern agronomy techniques for cocoa cultivation. The governments of most cocoa-producing countries are developing infrastructure and encouraging cocoa cultivation to increase trade. Infrastructure in terms of warehousing facilities and roads for transportation in regions such as Africa are expected to improve. Political stability can greatly affect the supply potential of cocoa and hence is crucial for steady market growth.
Technavios analysts forecast the global cocoa market to grow at a CAGR of 3.14%, in terms of volume, during the period 2016-2020.
The report covers the present scenario and the growth prospects of the global cocoa market for 2016-2020. To calculate the market size, Technavio considers the consumption of cocoa in terms of volume in major regions of the world such as the Americas, APAC, Europe, and ROW.
Segments based on geography:
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Technavio’s report, Global Cocoa Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Archer Daniels Midland (ADM)
Blommer Chocolate Company
Cocoa Processing Company
Other prominent vendors
The Hershey Company
United Cocoa Processor
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