The Cocoa market consists of powder and powder mixes for the preparation of cocoa drinks or hot chocolate. It does not include other products based on cocoa (such as chocolate bars) or premade, Ready-to-Drink (RTD) cocoa drinks which are instead aggregated into Non-Carbonated Soft Drinks in the Non-Alcoholic Drinks market.
The market comprises revenue and average revenue per capita, volume and average volume per capita, price per unit (per kilogram), as well as sales channels. Per capita figures refer to the whole population. The market only covers at-home sales (e.g. sales via supermarkets, hypermarkets, convenience stores). Out-of-home sales (e.g. sales in Hotels, restaurants, bars) are only shown as a separate box in the aggregated Hot Drinks market. All prices include all sales and consumption taxes and are valued at consumer prices.
One cup of cocoa or hot chocolate is assumed to contain 5.3 grams of cocoa. One kilogram therefore represents roughly 190 cup equivalents. In the cocoa market, the most important player is Nestlé (Nesquik).
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Cocoa, or hot chocolate, is the smallest Hot Drinks segment by value and volume. Consumption is concentrated in established chocolate-consuming countries – mostly Western countries. Here, a general trend towards lower sugar consumption as well as a decline in child population have inhibited growth over the review period.
Data coverage: The data encompasses B2C enterprises. Figures are based on private Household spendings on Hot Drinks. The data only covers at-home sales (e.g., sales via supermarkets, hypermarkets, convenience stores). Out-of-home sales (e.g., sales in Hotels, restaurants, bars) are only shown as a separate box in the aggregated Hot Drinks market.
Modeling approach: Market sizes are determined through a Top-Down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as production data, region, and price level index. This data helps us estimate the market size for each country individually.
Forecasts: In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Hot Drinks market with a projected steady growth.
Additional notes: The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level.