The CAGR for the global cocoa maker market between 2023 and 2033 is predicted to be 3.3%, indicating steady growth. The size of the global market was US$ 2,055.4 million in 2022, and it is predicted to reach US$ 2,123.2 million in 2023. The market is anticipated to surpass a valuation of US$ 2,937.6 million by the end of the valuation period in 2033. Using historical data, Future Market Insights calculated a CAGR of 4.8% for the global cocoa maker market from 2018 to 2022.
The market’s expansion is attributed to the rising demand for cocoa products across a variety of global industries. Similar trends include the growing appeal of homemade chocolates and the rapid uptake of cocoa makers in a variety of sectors, including the confectionery industry.
Cocoa makers are known as a specific kind of chocolate-making equipment that is employed to produce various chocolate-based goods from cocoa beans. These machines have rapidly become one of the ideal solutions for producing high-quality chocolate products at surging speeds.
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Furthermore, a significant surge in the adoption of cocoa makers has been witnessed across various sectors including food & beverage, confectionery, cosmetics, and households to make various chocolate-based products is a key factor driving the global market. The stovetop is known as the most common type of cocoa maker. Since it is simple to operate and does not require any particular equipment, the market is propelling over the forecast period. The microwave cocoa maker is faster than the stovetop one, but it requires a microwave-safe container.
Cocoa makers are often used to create a huge variety of different chocolate products, such as candy bars, cookies, cakes, and ice cream. Generally, there are three major types of cocoa makers such as electric cocoa makers, microwave cocoa makers, and stovetop cocoa makers, available in the market which enables end users to choose any specific type based on their requirements. However, with fast and enhanced ways to make cocoa, the electric cocoa maker is anticipated to become one of the top-selling products in the market right now. It has been increasingly used in households and other commercial setups to quickly produce cocoa products. Growth in the market is fueled by the rising consumption of chocolates owing to lifestyle changes, increasing disposable incomes, and rising awareness about the health benefits associated with cocoa.
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Key Takeaways
- The increasing adoption of cocoa makers in numerous industries including food & beverages and confectionery is anticipated to propel the global cocoa maker industry forward. Furthermore, the rising consumption of chocolate and cocoa fillings in various desserts is likely to augment its growth.
- A significant surge in the popularity of electric cocoa makers will exceed the demand in the market. In addition to that, the growing popularity of electric cocoa makers will elevate demand within the market.
- The growing interest in making chocolate and chocolate shakes at home will bolster sales of cocoa makers throughout the assessment period. Furthermore, the development of cost-effective products is expected to help the market thrive during the next ten years.
- The propelling awareness about the health benefits of cocoa will further assist in the expansion of the global market. Exceeding demand for cocoa products such as injectable cocoa fillings which are excessively being utilized in the preparation of a variety of bakery items such as muffins, cakes, pralines, brownies, doughnuts, croissants, macaroons, etc. will boost the global cocoa maker industry during the forecast period.
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Competitive Landscape
Leading players in the market are persistently striving to develop cost-effective cocoa makers in order to expand their customer base within various countries like China, Japan, and India. Since chocolate lovers are showcasing a high preference for preparing various chocolate varieties in their homes, a price reduction could be a game-changing strategy for manufacturers.
Key Players:
Nestle, Hershey, Ghirardelli, Lindt, Cargill Incorporated, ECOM Agroindustrial Corporation, Olam International, Fuji Oil Company Ltd, Barry Callebaut AG
More Insights into the Cocoa Maker Market
As per Future Market Insights, the U.S. is anticipated to dominate the global market as it is expected to account for a massive share of around 32.4% in 2023. Growing adoption of cocoa makers across USA households, the strong presence of leading cocoa maker manufacturers, and the booming confectionery industry are some of the key factors driving the US market.
Segmentation of Cocoa Maker Industry
By Type:
- Electric Cocoa Makers
- Microwave Cocoa Makers
- Stovetop Cocoa Makers
By Application:
- Pharmaceuticals
- Cosmetics
- Food & Beverage
- Confectionary
By Sales Channel:
- Online
- Offline
By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- MEA
- RoW
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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