Cocoa beans are the fully dried and fermented seed of theobrama cacao where cocoa beans are cocoa solids and because of the seed’s fat, cocoa butter will be extracted. Cocoa beans are used to prepare the drink whereas cocoa powders are used for baking process. The net market of the Nigerian cocoa market estimated to $XX billion in 2018 and forecasts to $XX billion in 2028 with a CAGR of $XX% between 2018 and 2028.
Innovation of new cocoa processing is increasing in the demand for cocoa market in Nigeria. Raising in demand for cocoa beans is one of the key factors driving the cocoa market. Cocoa market can be categorized into cocoa bean, cocoa powder, and country. The market for cocoa in various regions through its cocoa beans like criollo, orastero and others had been mentioned in the report.
With growing chocolate production in the African market, Nigeria has witnessed major growth as a large amount of African chocolate is produced in this market thereby driving the cocoa production. Competitive landscape for industry and market players are profiled with attributes of company overview, business strategies, and product portfolio.