Cocoa And Chocolate Market
Cocoa and Chocolate Market Forecasts to 2028 - Global Analysis By Cocoa Type (Cocoa Powder, Compound Chocolate, Cocoa Liquor, Cocoa Butter and Other Cocoa Types), Chocolate Type, Application and By Geography
|
Years Covered |
2020-2028 |
|
Estimated Year Value (2022) |
US $21.1 BN |
|
Projected Year Value (2028) |
US $30.7 BN |
|
CAGR (2022 - 2028) |
6.4% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
Asia Pacific |
|
Highest Growing Market |
North America |
According to Stratistics MRC, the Global Cocoa and Chocolate Market is accounted for $21.1 billion in 2022 and is expected to reach $30.7 billion by 2028 growing at a CAGR of 6.4% during the forecast period. A true form of chocolate is cocoa. The same production process that produces cocoa was also used to create chocolate. The chocolate does not, however, lose its cocoa butter. The softer and deeper texture of the chocolate is a result of the cocoa butter. The rise in sales of chocolate candies meant to be eaten as comfort food is to blame for families developing a regular grocery store. Around the world, chocolate is a customary present for festivals and special events. In addition, consumers are increasingly consuming chocolate as a superior meal and as a comfort food, which is expected to create a wealth of new growth potential for the market.
According to the International Cocoa Organization, the world largest supplier of cocoa is Africa, which accounts for 72% of the global production of cocoa. As per a recent survey conducted by Barry Callebaut, 36% of Europeans want chocolates with health benefits, while 38% would like chocolates with reduced sugar content.
Market Dynamics:
Driver:
Growing popularity of chocolate flavoured products
The industry is expanding as a result of the increased demand for ready-to-eat foods and beverages with chocolate flavours. Chocolates are being consumed more frequently because of compounds like tryptophan, which produces serotonin and promotes happiness. Additionally, the increased interest in baking at home and the growth of restaurant chains, bakeries, and candy stores are driving up market demand.
Restraint:
Changing consumer preferences
Consumer preferences for chocolate are a significant challenge to the chocolate industry. Previously used as a sweet treat, chocolate consumption is now shifting towards the healthier option, with a preference for dark chocolate, which is a good source of polyphenols. Being a perishable good, chocolate may accumulate significant stockpiles with very little time to be used up if demand for a particular product declines.
Opportunity:
Growing awareness
The industry is expanding as a result of rising consumer knowledge of the health advantages of ingesting cocoa-rich goods. In addition to providing the human body with numerous health benefits, cocoa helps to lower blood pressure and treat chronic fatigue syndrome. Additionally, cocoa includes polyphenols, which shield the body's tissues against oxidative stress and its associated illnesses. The markets are also moving forward as a result of these causes.
Threat:
High raw material prices
The cost of raw materials has a big impact on chocolate costs. The most crucial raw resources in the production of chocolate are cocoa and sugar, which account for more than 80% of the total cost of raw materials. Products made from raw cacao that have undergone minimum processing are higher in antioxidants and contain little to no added sugar. Consequently, the market for chocolate would be impacted by the rising cost of raw materials.
Covid-19 Impact
Low pandemic-related sales volumes and supply-side problems with certification and quality had an effect on the cocoa market. The Fine Cacao & Chocolate Institute (FCCI) undertook a study on the COVID-19 pandemic's effects on exports, and the findings were alarming. A growing number of specialised stores are staying closed for a longer amount of time as a result of the interruption in the raw material supply chain, which was followed by lockdown, and the volume consumption of luxury chocolates is declining.
The filled chocolate segment is expected to be the largest during the forecast period
The filled chocolate segment is estimated to have a lucrative growth, due to the increased popularity of various filled chocolates. It is anticipated that market participants will experiment with creating unique forms of filled chocolates in order to meet the spike in demand for filled chocolate and fuel the segment's expansion. Key demographics are also projected to indulge in multiflavored chocolate consumption at a rising rate.
The confectionery segment is expected to have the highest CAGR during the forecast period
The confectionery segment is anticipated to witness the fastest CAGR growth during the forecast period, due to increasing popularity of chocolate confectionery. Due to increased consumer spending on decadent confectionery goods, the demand for chocolate confectioneries has shown a favourable trend in emerging nations. The market is expected to be impacted by the developed markets' rising demand for moulded and countline chocolates.
Region with Largest share:
Asia Pacific is projected to hold the largest market share during the forecast period owing to chocolate consumption volume is continuously rising in the country. The market's primary drivers are the rising per capita income and the tendency towards westernisation. A possible opportunity for international brands to enter the market is provided by the rising demand for premium types. The market is also being driven by growing impulse purchases and expanding retail channels.
Region with highest CAGR:
North America is projected to have the highest CAGR over the forecast period, owing to to increasing demand for chocolate-based confectioneries and increasing acquisition of chocolate ingredients to infuse food products. Additionally, increasing consumer knowledge of the health advantages of cocoa and chocolate intake is anticipated to spur demand for cocoa products and therefore market expansion. Growing consumer knowledge of cocoa's health advantages is anticipated to fuel demand in the regional market.
Key players in the market
Some of the key players profiled in the Cocoa and Chocolate Market include DP Cocoa Products Pvt Ltd, Puratos Group, Barry Callebaut Group, Cargill, Incorporated, Aadra International, Nestlé S.A., Fuji Oil Holdings Inc., The Hershey Company, Lotus Chocolate Company Ltd., Mars Incorporated, Blommer Chocolate Company, Ferrero International S.A. , JB Foods Limited, Cocoa Processing Company Limited and Meiji Holdings Co., Ltd.
Key Developments:
In March 2022, Hershey Company, launched a crunch cookie chocolate spread in India for the consumer's breakfast.
In March 2021, Cargill has partnered with Nestlé to extend the Nestlé Cocoa Plan (NCP) to benefit its network of cocoa farmers in Sulawesi, Indonesia. Activities include three key NCP pillars: better farming, better lives, and better cocoa.
Cocoa Types Covered:
• Cocoa Powder
• Compound Chocolate
• Cocoa Liquor
• Cocoa Butter
• Other Cocoa Types
Chocolate Types Covered:
• Milk Chocolate
• White Chocolate
• Filled Chocolate
• Dark Chocolate
• Other Chocolate Types
Applications Covered:
• Confectionery
• Beverages
• Bakery Premixes
• Frozen Desserts and Ice Creams
• Bakery Products
• Cosmetics
• Other Applications
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Cocoa and Chocolate Market, By Cocoa Type
5.1 Introduction
5.2 Cocoa Powder
5.3 Compound Chocolate
5.4 Cocoa Liquor
5.5 Cocoa Butter
5.6 Other Cocoa Types
6 Global Cocoa and Chocolate Market, By Chocolate Type
6.1 Introduction
6.2 Milk Chocolate
6.3 White Chocolate
6.4 Filled Chocolate
6.5 Dark Chocolate
6.6 Other Chocolate Types
7 Global Cocoa and Chocolate Market, By Application
7.1 Introduction
7.2 Confectionery
7.3 Beverages
7.4 Bakery Premixes
7.5 Frozen Desserts and Ice Creams
7.6 Bakery Products
7.7 Cosmetics
7.8 Other Applications
8 Global Cocoa and Chocolate Market, By Geography
8.1 Introduction
8.2 North America
8.2.1 US
8.2.2 Canada
8.2.3 Mexico
8.3 Europe
8.3.1 Germany
8.3.2 UK
8.3.3 Italy
8.3.4 France
8.3.5 Spain
8.3.6 Rest of Europe
8.4 Asia Pacific
8.4.1 Japan
8.4.2 China
8.4.3 India
8.4.4 Australia
8.4.5 New Zealand
8.4.6 South Korea
8.4.7 Rest of Asia Pacific
8.5 South America
8.5.1 Argentina
8.5.2 Brazil
8.5.3 Chile
8.5.4 Rest of South America
8.6 Middle East & Africa
8.6.1 Saudi Arabia
8.6.2 UAE
8.6.3 Qatar
8.6.4 South Africa
8.6.5 Rest of Middle East & Africa
9 Key Developments
9.1 Agreements, Partnerships, Collaborations and Joint Ventures
9.2 Acquisitions & Mergers
9.3 New Product Launch
9.4 Expansions
9.5 Other Key Strategies
10 Company Profiling
10.1 DP Cocoa Products Pvt Ltd
10.2 Puratos Group
10.3 Barry Callebaut Group
10.4 Cargill, Incorporated
10.5 Aadra International
10.6 Nestlé S.A.
10.7 Fuji Oil Holdings Inc.
10.8 The Hershey Company
10.9 Lotus Chocolate Company Ltd.
10.10 Mars Incorporated
10.11 Blommer Chocolate Company
10.12 Ferrero International S.A.
10.13 JB Foods Limited
10.14 Cocoa Processing Company Limited
10.15 Meiji Holdings Co., Ltd.
List of Tables
1 Global Cocoa and Chocolate Market Outlook, By Region (2020-2028) ($MN)
2 Global Cocoa and Chocolate Market Outlook, By Cocoa Type (2020-2028) ($MN)
3 Global Cocoa and Chocolate Market Outlook, By Cocoa Powder (2020-2028) ($MN)
4 Global Cocoa and Chocolate Market Outlook, By Compound Chocolate (2020-2028) ($MN)
5 Global Cocoa and Chocolate Market Outlook, By Cocoa Liquor (2020-2028) ($MN)
6 Global Cocoa and Chocolate Market Outlook, By Cocoa Butter (2020-2028) ($MN)
7 Global Cocoa and Chocolate Market Outlook, By Other Cocoa Types (2020-2028) ($MN)
8 Global Cocoa and Chocolate Market Outlook, By Chocolate Type (2020-2028) ($MN)
9 Global Cocoa and Chocolate Market Outlook, By Milk Chocolate (2020-2028) ($MN)
10 Global Cocoa and Chocolate Market Outlook, By White Chocolate (2020-2028) ($MN)
11 Global Cocoa and Chocolate Market Outlook, By Filled Chocolate (2020-2028) ($MN)
12 Global Cocoa and Chocolate Market Outlook, By Dark Chocolate (2020-2028) ($MN)
13 Global Cocoa and Chocolate Market Outlook, By Other Chocolate Types (2020-2028) ($MN)
14 Global Cocoa and Chocolate Market Outlook, By Application (2020-2028) ($MN)
15 Global Cocoa and Chocolate Market Outlook, By Confectionery (2020-2028) ($MN)
16 Global Cocoa and Chocolate Market Outlook, By Beverages (2020-2028) ($MN)
17 Global Cocoa and Chocolate Market Outlook, By Bakery Premixes (2020-2028) ($MN)
18 Global Cocoa and Chocolate Market Outlook, By Frozen Desserts and Ice Creams (2020-2028) ($MN)
19 Global Cocoa and Chocolate Market Outlook, By Bakery Products (2020-2028) ($MN)
20 Global Cocoa and Chocolate Market Outlook, By Cosmetics (2020-2028) ($MN)
21 Global Cocoa and Chocolate Market Outlook, By Other Applications (2020-2028) ($MN)
22 North America Cocoa and Chocolate Market Outlook, By Country (2020-2028) ($MN)
23 North America Cocoa and Chocolate Market Outlook, By Cocoa Type (2020-2028) ($MN)
24 North America Cocoa and Chocolate Market Outlook, By Cocoa Powder (2020-2028) ($MN)
25 North America Cocoa and Chocolate Market Outlook, By Compound Chocolate (2020-2028) ($MN)
26 North America Cocoa and Chocolate Market Outlook, By Cocoa Liquor (2020-2028) ($MN)
27 North America Cocoa and Chocolate Market Outlook, By Cocoa Butter (2020-2028) ($MN)
28 North America Cocoa and Chocolate Market Outlook, By Other Cocoa Types (2020-2028) ($MN)
29 North America Cocoa and Chocolate Market Outlook, By Chocolate Type (2020-2028) ($MN)
30 North America Cocoa and Chocolate Market Outlook, By Milk Chocolate (2020-2028) ($MN)
31 North America Cocoa and Chocolate Market Outlook, By White Chocolate (2020-2028) ($MN)
32 North America Cocoa and Chocolate Market Outlook, By Filled Chocolate (2020-2028) ($MN)
33 North America Cocoa and Chocolate Market Outlook, By Dark Chocolate (2020-2028) ($MN)
34 North America Cocoa and Chocolate Market Outlook, By Other Chocolate Types (2020-2028) ($MN)
35 North America Cocoa and Chocolate Market Outlook, By Application (2020-2028) ($MN)
36 North America Cocoa and Chocolate Market Outlook, By Confectionery (2020-2028) ($MN)
37 North America Cocoa and Chocolate Market Outlook, By Beverages (2020-2028) ($MN)
38 North America Cocoa and Chocolate Market Outlook, By Bakery Premixes (2020-2028) ($MN)
39 North America Cocoa and Chocolate Market Outlook, By Frozen Desserts and Ice Creams (2020-2028) ($MN)
40 North America Cocoa and Chocolate Market Outlook, By Bakery Products (2020-2028) ($MN)
41 North America Cocoa and Chocolate Market Outlook, By Cosmetics (2020-2028) ($MN)
42 North America Cocoa and Chocolate Market Outlook, By Other Applications (2020-2028) ($MN)
43 Europe Cocoa and Chocolate Market Outlook, By Country (2020-2028) ($MN)
44 Europe Cocoa and Chocolate Market Outlook, By Cocoa Type (2020-2028) ($MN)
45 Europe Cocoa and Chocolate Market Outlook, By Cocoa Powder (2020-2028) ($MN)
46 Europe Cocoa and Chocolate Market Outlook, By Compound Chocolate (2020-2028) ($MN)
47 Europe Cocoa and Chocolate Market Outlook, By Cocoa Liquor (2020-2028) ($MN)
48 Europe Cocoa and Chocolate Market Outlook, By Cocoa Butter (2020-2028) ($MN)
49 Europe Cocoa and Chocolate Market Outlook, By Other Cocoa Types (2020-2028) ($MN)
50 Europe Cocoa and Chocolate Market Outlook, By Chocolate Type (2020-2028) ($MN)
51 Europe Cocoa and Chocolate Market Outlook, By Milk Chocolate (2020-2028) ($MN)
52 Europe Cocoa and Chocolate Market Outlook, By White Chocolate (2020-2028) ($MN)
53 Europe Cocoa and Chocolate Market Outlook, By Filled Chocolate (2020-2028) ($MN)
54 Europe Cocoa and Chocolate Market Outlook, By Dark Chocolate (2020-2028) ($MN)
55 Europe Cocoa and Chocolate Market Outlook, By Other Chocolate Types (2020-2028) ($MN)
56 Europe Cocoa and Chocolate Market Outlook, By Application (2020-2028) ($MN)
57 Europe Cocoa and Chocolate Market Outlook, By Confectionery (2020-2028) ($MN)
58 Europe Cocoa and Chocolate Market Outlook, By Beverages (2020-2028) ($MN)
59 Europe Cocoa and Chocolate Market Outlook, By Bakery Premixes (2020-2028) ($MN)
60 Europe Cocoa and Chocolate Market Outlook, By Frozen Desserts and Ice Creams (2020-2028) ($MN)
61 Europe Cocoa and Chocolate Market Outlook, By Bakery Products (2020-2028) ($MN)
62 Europe Cocoa and Chocolate Market Outlook, By Cosmetics (2020-2028) ($MN)
63 Europe Cocoa and Chocolate Market Outlook, By Other Applications (2020-2028) ($MN)
64 Asia Pacific Cocoa and Chocolate Market Outlook, By Country (2020-2028) ($MN)
65 Asia Pacific Cocoa and Chocolate Market Outlook, By Cocoa Type (2020-2028) ($MN)
66 Asia Pacific Cocoa and Chocolate Market Outlook, By Cocoa Powder (2020-2028) ($MN)
67 Asia Pacific Cocoa and Chocolate Market Outlook, By Compound Chocolate (2020-2028) ($MN)
68 Asia Pacific Cocoa and Chocolate Market Outlook, By Cocoa Liquor (2020-2028) ($MN)
69 Asia Pacific Cocoa and Chocolate Market Outlook, By Cocoa Butter (2020-2028) ($MN)
70 Asia Pacific Cocoa and Chocolate Market Outlook, By Other Cocoa Types (2020-2028) ($MN)
71 Asia Pacific Cocoa and Chocolate Market Outlook, By Chocolate Type (2020-2028) ($MN)
72 Asia Pacific Cocoa and Chocolate Market Outlook, By Milk Chocolate (2020-2028) ($MN)
73 Asia Pacific Cocoa and Chocolate Market Outlook, By White Chocolate (2020-2028) ($MN)
74 Asia Pacific Cocoa and Chocolate Market Outlook, By Filled Chocolate (2020-2028) ($MN)
75 Asia Pacific Cocoa and Chocolate Market Outlook, By Dark Chocolate (2020-2028) ($MN)
76 Asia Pacific Cocoa and Chocolate Market Outlook, By Other Chocolate Types (2020-2028) ($MN)
77 Asia Pacific Cocoa and Chocolate Market Outlook, By Application (2020-2028) ($MN)
78 Asia Pacific Cocoa and Chocolate Market Outlook, By Confectionery (2020-2028) ($MN)
79 Asia Pacific Cocoa and Chocolate Market Outlook, By Beverages (2020-2028) ($MN)
80 Asia Pacific Cocoa and Chocolate Market Outlook, By Bakery Premixes (2020-2028) ($MN)
81 Asia Pacific Cocoa and Chocolate Market Outlook, By Frozen Desserts and Ice Creams (2020-2028) ($MN)
82 Asia Pacific Cocoa and Chocolate Market Outlook, By Bakery Products (2020-2028) ($MN)
83 Asia Pacific Cocoa and Chocolate Market Outlook, By Cosmetics (2020-2028) ($MN)
84 Asia Pacific Cocoa and Chocolate Market Outlook, By Other Applications (2020-2028) ($MN)
85 South America Cocoa and Chocolate Market Outlook, By Country (2020-2028) ($MN)
86 South America Cocoa and Chocolate Market Outlook, By Cocoa Type (2020-2028) ($MN)
87 South America Cocoa and Chocolate Market Outlook, By Cocoa Powder (2020-2028) ($MN)
88 South America Cocoa and Chocolate Market Outlook, By Compound Chocolate (2020-2028) ($MN)
89 South America Cocoa and Chocolate Market Outlook, By Cocoa Liquor (2020-2028) ($MN)
90 South America Cocoa and Chocolate Market Outlook, By Cocoa Butter (2020-2028) ($MN)
91 South America Cocoa and Chocolate Market Outlook, By Other Cocoa Types (2020-2028) ($MN)
92 South America Cocoa and Chocolate Market Outlook, By Chocolate Type (2020-2028) ($MN)
93 South America Cocoa and Chocolate Market Outlook, By Milk Chocolate (2020-2028) ($MN)
94 South America Cocoa and Chocolate Market Outlook, By White Chocolate (2020-2028) ($MN)
95 South America Cocoa and Chocolate Market Outlook, By Filled Chocolate (2020-2028) ($MN)
96 South America Cocoa and Chocolate Market Outlook, By Dark Chocolate (2020-2028) ($MN)
97 South America Cocoa and Chocolate Market Outlook, By Other Chocolate Types (2020-2028) ($MN)
98 South America Cocoa and Chocolate Market Outlook, By Application (2020-2028) ($MN)
99 South America Cocoa and Chocolate Market Outlook, By Confectionery (2020-2028) ($MN)
100 South America Cocoa and Chocolate Market Outlook, By Beverages (2020-2028) ($MN)
101 South America Cocoa and Chocolate Market Outlook, By Bakery Premixes (2020-2028) ($MN)
102 South America Cocoa and Chocolate Market Outlook, By Frozen Desserts and Ice Creams (2020-2028) ($MN)
103 South America Cocoa and Chocolate Market Outlook, By Bakery Products (2020-2028) ($MN)
104 South America Cocoa and Chocolate Market Outlook, By Cosmetics (2020-2028) ($MN)
105 South America Cocoa and Chocolate Market Outlook, By Other Applications (2020-2028) ($MN)
106 Middle East & Africa Cocoa and Chocolate Market Outlook, By Country (2020-2028) ($MN)
107 Middle East & Africa Cocoa and Chocolate Market Outlook, By Cocoa Type (2020-2028) ($MN)
108 Middle East & Africa Cocoa and Chocolate Market Outlook, By Cocoa Powder (2020-2028) ($MN)
109 Middle East & Africa Cocoa and Chocolate Market Outlook, By Compound Chocolate (2020-2028) ($MN)
110 Middle East & Africa Cocoa and Chocolate Market Outlook, By Cocoa Liquor (2020-2028) ($MN)
111 Middle East & Africa Cocoa and Chocolate Market Outlook, By Cocoa Butter (2020-2028) ($MN)
112 Middle East & Africa Cocoa and Chocolate Market Outlook, By Other Cocoa Types (2020-2028) ($MN)
113 Middle East & Africa Cocoa and Chocolate Market Outlook, By Chocolate Type (2020-2028) ($MN)
114 Middle East & Africa Cocoa and Chocolate Market Outlook, By Milk Chocolate (2020-2028) ($MN)
115 Middle East & Africa Cocoa and Chocolate Market Outlook, By White Chocolate (2020-2028) ($MN)
116 Middle East & Africa Cocoa and Chocolate Market Outlook, By Filled Chocolate (2020-2028) ($MN)
117 Middle East & Africa Cocoa and Chocolate Market Outlook, By Dark Chocolate (2020-2028) ($MN)
118 Middle East & Africa Cocoa and Chocolate Market Outlook, By Other Chocolate Types (2020-2028) ($MN)
119 Middle East & Africa Cocoa and Chocolate Market Outlook, By Application (2020-2028) ($MN)
120 Middle East & Africa Cocoa and Chocolate Market Outlook, By Confectionery (2020-2028) ($MN)
121 Middle East & Africa Cocoa and Chocolate Market Outlook, By Beverages (2020-2028) ($MN)
122 Middle East & Africa Cocoa and Chocolate Market Outlook, By Bakery Premixes (2020-2028) ($MN)
123 Middle East & Africa Cocoa and Chocolate Market Outlook, By Frozen Desserts and Ice Creams (2020-2028) ($MN)
124 Middle East & Africa Cocoa and Chocolate Market Outlook, By Bakery Products (2020-2028) ($MN)
125 Middle East & Africa Cocoa and Chocolate Market Outlook, By Cosmetics (2020-2028) ($MN)
126 Middle East & Africa Cocoa and Chocolate Market Outlook, By Other Applications (2020-2028) ($MN)
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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