The Latin America, Middle East and Africa Cocoa Market would witness market growth of 6.1% CAGR during the forecast period (2023-2030). In the year 2026, the LAMEA market's volume is expected to surge to 373.8 Kilo Tonnes, showcasing a growth of 7.4% (2023-2030).
The incorporation of cocoa into functional foods, such as energy bars, protein snacks, and dietary supplements, is rising. Manufacturers are exploring ways to highlight the nutritional benefits of these to meet the demand for healthier snack options. Plant-based diets have influenced the market, developing dairy-free and vegan chocolate alternatives. This is being used innovatively to create plant-based chocolate products catering to a growing consumer segment.
Cocoa cultivation is vulnerable to climate change, impacting yields and quality. Climate-smart agriculture practices, including agroforestry and sustainable land management, are being adopted to enhance the resilience of farming to environmental challenges. The use of technology, such as satellite imagery and data analytics, is helping farmers optimize farming practices. Precision farming enables better crop management, improving yields, and sustainable production.
As per the International Trade Administration, the United Arab Emirates leads the Gulf Cooperation Council in eCommerce sales, which surged by 53% in 2020 to a record $3.9 billion, or 10% of overall retail sales. The Dubai Chamber of Commerce and Industry signifies that eCommerce will develop $8 billion in sales by 2025 as the UAE region has nearly 100% internet and mobile phone penetration. E-commerce enables businesses in the UAE to sell directly to consumers. Thus, due to these aspects, the market will expand across the LAMEA region in upcoming years.
The Brazil market dominated the LAMEA Cocoa Market, by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $982 Million by 2030. The Argentina market is showcasing a CAGR of 6.6% during (2023 - 2030). Additionally, The UAE market would register a CAGR of 5.6% during (2023 - 2030).
Free Valuable Insights: The Worldwide Cocoa Market is Projected to reach USD 38.3 Billion by 2030, at a CAGR of 4.8%
Based on Application, the market is segmented into Confectionery, Food & Beverages, Cosmetics, and Pharmaceutical. Based on Product Type, the market is segmented into Cocoa Beans, Cocoa Powder & Cake, Cocoa Butter, Chocolate, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
By Application (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Product Type (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Country (Volume, Kilo Tonnes, USD Billion, 2019-2030)
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