Enjoy a 15% discount on all purchases until the 31st of March 2023 using the promo code EOFWEB22 at check out!

B2B Explore insights impacting the B2B environment, including production and supply network, and the trends that are evolving the global consumption of ingredients and packaging materials across a changing consumer goods marketplace.

ADM, Cargill and Barry Callebaut: The Fight to Control Cocoa

Euromonitor International Profile Picture
Euromonitor International Bio

Chocolate is a sticky business. That much has been demonstrated by the furore surrounding the potential sale of ADM’s cocoa business to fellow commodity giant Cargill, with value estimates as high as US$2 billion. Rumour has it that the two have entered the final stages of negotiation and if the deal were to prove successful, Cargill would control 35% of the world’s cocoa processing market, tipping Barry Callebaut and its 25% share off the top spot. Euromonitor International maps out the market that everyone in the world of chocolate is talking about.

Nearly half of all cocoa globally is consumed as chocolate confectionery, and Western Europe is the largest chocolate confectionery market by far, consuming 2.3 million tonnes in 2013, making it the beating heart of the world’s cocoa industry. Per capita consumption of chocolate varies significantly around the world, from 4.7kg per capita in Western Europe to 0.2kg per capita in Asia Pacific. This is reflected in the total usage of cocoa by product category, with dairy and ice cream applications significantly more important in developing regions.

Percentage Breakdown of Cocoa Ingredients Consumption by Product Category, 2012

Source: Euromonitor International

Back in Western Europe, retail value sales of chocolate confectionery fell by over US$500 million in the five years to 2013, and while volume consumption grew over that period, it was by less than 3%. In complete contrast, brands in North America successfully squeezed value from the category, with retail value rising by more than US$3.2 billion over 2008-2013 as volume consumption fell by nearly 250,000 tonnes. Looking ahead, growth in chocolate confectionery is predicted to be weak in both regions, particularly in North America, with just 4,000 tonnes more expected in 2017 compared to 2013.

But, while the well-established cocoa consuming markets continue to stall, demand in Asia Pacific is growing stronger - by 2017 it is expected that nearly 20% of all cocoa ingredients will be consumed in the region, compared to 15% a decade earlier. Latin America, Asia Pacific and the Middle East and Africa hold significant potential for long-term cocoa demand, given their current low per capita consumption of chocolate confectionery. For example, if per capita consumption of chocolate confectionery in Asia were to double from its low base of 200g to a highly possible 400g, cocoa demand in the region would increase by 30%.

Forecast Growth of Cocoa Ingredients Against Per Capita Consumption of Chocolate Confectionery by Region

Source: Euromonitor International

Interested in more insights? Subscribe to our content

Latest Insights

Unwrapping Sustainable Packaging

Jorge Zuniga 17 March 2023

Shop Our Reports

Beyond Beer and Soda: Cans and the Future of Beverages Packaging in the Americas

The metal beverage can is gaining ground rapidly in the beverage industries of both Latin and North America. Cans continue to grow share in their core…

View Report

Global Industrial Trends

This report provides a global overview of industrial trends from 2022 through to 2027 for the key manufacturing and service sector industries. Insights analyse…

View Report

The Need for Ingredient Diversification in Foods

In 2022, the combination of COVID-19, geopolitical tensions and increased climate events deepened disruptions to food supply. Combined with mounting health and…

View Report
Passport Our premier global market research database with detailed data and analysis on industries, companies, economies and consumers. Track existing and future opportunities to support critical decision-making across all functions within your organisation Learn More