Cocoa & Drinking Chocolate Production
Over the five years to 2018, the Cocoa and Drinking Chocolate industry has benefited from trends including improving disposable incomes and greater demand for premium chocolate goods. However, other trends, including volatile cocoa prices and rising health consciousness, have limited industry growth. Hot cocoa remains a staple in American homes, particularly in the wintertime, and as a result, the industry historically experiences low levels of volatility. Variations that occur year-to-year stem from fluctuations in the prices of raw materials, namely cocoa and sugar. Over the five years to 2023, the industry is expected to grow. Per capita disposable income is expected to increase during the period, enabling more consumers to afford and indulge in discretionary products such as cocoa and drinking chocolate. Additionally, customers will flock to more health-conscious products offered by the industry, such as low sugar, dark chocolate, organic and unprocessed cocoa and drinking chocolate, boosting industry revenue.
This industry primarily produces hot chocolate, which is also known as hot cocoa or drinking chocolate. Industry operators generally process cacao beans and other ingredients to make a powder that is then mixed with a liquid, such as milk or water. This industry does not produce syrup that is poured into milk to make hot chocolate. Ready-to-drink dairy-based chocolate milk products are also excluded.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.