The cocoa market - Italy

Cocoa is a substance that is extracted from the seeds of certain plants of the genus Theobroma, from tropical America The fruit of this plant is shaped like a large almond and contains up to 40 seeds arranged in 5 rows. Cocoa powder is obtained by grinding the previously dried seeds; it is used in chocolate making and chocolate preparation. Cocoa butter, on the other hand, is a yellowish-white fatty substance that is extracted from the cocoa beans. In addition to chocolate making, cocoa butter is used in cosmetics and pharmaceuticals. The size of the global cocoa market was about $26.709 billion in 2023. The market is expected to grow further at a compound annual growth rate (CAGR) of 4.71 percent between 2024 and 2032, reaching a value of $40.42 billion by 2032. This represents an increase of 51.31% over the period. It has the potential to grow due to a combination of economic, social, technological and environmental factors that are driving increased demand and improving production and distribution. The size of the cocoa and chocolate market in Europe is projected to reach a value of $14.50 billion in 2024 and grow at a compound annual growth rate (CAGR) of 4.89% from 2024 to 2029, reaching $18.41 billion by 2029. In Italyin recent years, the turnover of Italian cocoa, chocolate, candy, and confectionery manufacturing companies has decreased significantly by 18.8%. The same is true for the value of production sold, down 38.6 percent, but the last two years bode well, indicating a positive trend toward recovery, as well as the value of production made and sold in quantity. As for our market, it is in full consolidation, as the number of active enterprises in recent years has decreased by 9.3 percent while the number of employees has increased by 4.6 percent. This reflects a number of economic and strategic dynamics, although it presents some challenges, especially for small businesses, it also offers opportunities for innovation, sustainability and professional growth.