Market Forecast By Cocoa Types (Cocoa Butter, Cocoa Powder, Cocoa Liquor), By Chocolate Type (Dark Chocolate, Milk Chocolate, White Chocolate, Filled Chocolate), By Applications (Confectionery, Food & Beverage, Cosmetics, Pharmaceuticals), By Distribution Channel (Offline , Online ) And Competitive Landscape
Product Code: ETC018923 | Publication Date: Jun 2023 | Updated Date: Jan 2025 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 | |
Report Name | Mexico Chocolate and Cocoa Products Market |
Forecast period | 2025-2031 |
CAGR | 5% |
Growing Sector | Food & Beverage |
The Mexico Chocolate and Cocoa Products Market report thoroughly covers the market by Cocoa Type, Chocolate Type, Applications, and Distribution Channel. The market report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
The Mexico Chocolate and Cocoa Products Market has been experiencing growth and is expected to continue its grow steadily in the coming years. Factors such as changing consumer preferences, increasing disposable income levels, government regulations, and a growing tourism industry are contributing to the growth of the market.
According to 6Wresearch, the Mexico Chocolate and Cocoa Products Market size is expected to grow at a significant CAGR of 5% during 2025-2031. One of the key drivers of the Mexico chocolate and cocoa products market is the growing trend towards indulgence and gifting. With an increase in disposable income, consumers are willing to spend more on luxury chocolates for themselves or as gifts for special occasions. Another major driver is the growing awareness about the health benefits associated with dark chocolate. Dark chocolate is rich in antioxidants and has been linked to various health benefits such as lowering blood pressure, improving heart health, and boosting brain function. Moreover, the Mexican government's efforts to promote cocoa farming and support small-scale producers have also contributed to the growth of the market.
One of the main challenges is the volatility of cocoa prices on the international market which significantly impact the production costs of chocolate manufacturers. Another challenge is the increasing health consciousness among consumers, which has led to a shift towards healthier snacking options. Additionally, competition from other confectionery products such as candies and chewing gums also poses a challenge for the chocolate market.
Some of the leading players in the Mexico chocolate and cocoa products market include Nestle, Mondelēz International, Mars, Incorporated, Ferrero Group, Hershey's, and Barry Callebaut AG. These multinational corporations have a strong presence in Mexico, with well-established brands and distribution channels. They offer a wide range of products, from mass-produced commercial chocolates to high-end premium and artisanal chocolates.
One initiative is the National Program for Sustainable Development of Cocoa (PRONACOCO) was launched by Mexico's Ministry of Agriculture, Livestock, Rural Development, Fisheries and Food (SAGARPA). Another significant effort by the government is the creation of a national registry for cocoa producers. This registry aims to provide valuable information about production, yield, and quality of cocoa in the country. Additionally, the Mexican government has also provided financial support to small-scale cocoa farmers through various programs such as FONAES (National Fund for Social Enterprises) and PROCAMPO (Program for Direct Support to the Countryside). Furthermore, the government has implemented regulations and standards for chocolate and cocoa products to ensure their quality and safety.
The Mexico Chocolate and Cocoa Products market is expected to continue its growth trajectory in the coming years due to increasing consumer demand for high-quality and sustainable products. The rising trend of premiumization, where consumers are willing to pay more for higher-quality products, is also expected to drive market growth. Additionally, the growing popularity of organic and fair trade chocolate products is expected to further boost the market.
According to Ravi Bhandari, Research Head, 6Wresearch, cocoa butter holds the largest share in the market. This can be attributed to its wide range of applications in confectionery, cosmetics, and pharmaceutical industries.
Based on the applications, the food & beverage segment is witnessing significant growth in the market due to the increasing use of cocoa products in various food items, such as baked goods and beverages.
In terms of distribution channels, the online segment is growing significantly in the market due to the convenience and ease of purchasing products online, as well as the increasing availability and variety of products on e-commerce platforms.
The report provides a detailed analysis of the following market segments:
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Mexico Chocolate and Cocoa Products Market Overview |
3.1 Mexico Country Macro Economic Indicators |
3.2 Mexico Chocolate and Cocoa Products Market Revenues & Volume, 2021 & 2031F |
3.3 Mexico Chocolate and Cocoa Products Market - Industry Life Cycle |
3.4 Mexico Chocolate and Cocoa Products Market - Porter's Five Forces |
3.5 Mexico Chocolate and Cocoa Products Market Revenues & Volume Share, By Cocoa Types, 2021 & 2031F |
3.6 Mexico Chocolate and Cocoa Products Market Revenues & Volume Share, By Chocolate Type, 2021 & 2031F |
3.7 Mexico Chocolate and Cocoa Products Market Revenues & Volume Share, By Applications, 2021 & 2031F |
3.8 Mexico Chocolate and Cocoa Products Market Revenues & Volume Share, By Distribution Channel, 2021 & 2031F |
4 Mexico Chocolate and Cocoa Products Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Mexico Chocolate and Cocoa Products Market Trends |
6 Mexico Chocolate and Cocoa Products Market, By Types |
6.1 Mexico Chocolate and Cocoa Products Market, By Cocoa Types |
6.1.1 Overview and Analysis |
6.1.2 Mexico Chocolate and Cocoa Products Market Revenues & Volume, By Cocoa Types, 2021 - 2031F |
6.1.3 Mexico Chocolate and Cocoa Products Market Revenues & Volume, By Cocoa Butter, 2021 - 2031F |
6.1.4 Mexico Chocolate and Cocoa Products Market Revenues & Volume, By Cocoa Powder, 2021 - 2031F |
6.1.5 Mexico Chocolate and Cocoa Products Market Revenues & Volume, By Cocoa Liquor, 2021 - 2031F |
6.2 Mexico Chocolate and Cocoa Products Market, By Chocolate Type |
6.2.1 Overview and Analysis |
6.2.2 Mexico Chocolate and Cocoa Products Market Revenues & Volume, By Dark Chocolate, 2021 - 2031F |
6.2.3 Mexico Chocolate and Cocoa Products Market Revenues & Volume, By Milk Chocolate, 2021 - 2031F |
6.2.4 Mexico Chocolate and Cocoa Products Market Revenues & Volume, By White Chocolate, 2021 - 2031F |
6.2.5 Mexico Chocolate and Cocoa Products Market Revenues & Volume, By Filled Chocolate, 2021 - 2031F |
6.3 Mexico Chocolate and Cocoa Products Market, By Applications |
6.3.1 Overview and Analysis |
6.3.2 Mexico Chocolate and Cocoa Products Market Revenues & Volume, By Confectionery, 2021 - 2031F |
6.3.3 Mexico Chocolate and Cocoa Products Market Revenues & Volume, By Food & Beverage, 2021 - 2031F |
6.3.4 Mexico Chocolate and Cocoa Products Market Revenues & Volume, By Cosmetics, 2021 - 2031F |
6.3.5 Mexico Chocolate and Cocoa Products Market Revenues & Volume, By Pharmaceuticals, 2021 - 2031F |
6.4 Mexico Chocolate and Cocoa Products Market, By Distribution Channel |
6.4.1 Overview and Analysis |
6.4.2 Mexico Chocolate and Cocoa Products Market Revenues & Volume, By Offline , 2021 - 2031F |
6.4.3 Mexico Chocolate and Cocoa Products Market Revenues & Volume, By Online , 2021 - 2031F |
7 Mexico Chocolate and Cocoa Products Market Import-Export Trade Statistics |
7.1 Mexico Chocolate and Cocoa Products Market Export to Major Countries |
7.2 Mexico Chocolate and Cocoa Products Market Imports from Major Countries |
8 Mexico Chocolate and Cocoa Products Market Key Performance Indicators |
9 Mexico Chocolate and Cocoa Products Market - Opportunity Assessment |
9.1 Mexico Chocolate and Cocoa Products Market Opportunity Assessment, By Cocoa Types, 2021 & 2031F |
9.2 Mexico Chocolate and Cocoa Products Market Opportunity Assessment, By Chocolate Type, 2021 & 2031F |
9.3 Mexico Chocolate and Cocoa Products Market Opportunity Assessment, By Applications, 2021 & 2031F |
9.4 Mexico Chocolate and Cocoa Products Market Opportunity Assessment, By Distribution Channel, 2021 & 2031F |
10 Mexico Chocolate and Cocoa Products Market - Competitive Landscape |
10.1 Mexico Chocolate and Cocoa Products Market Revenue Share, By Companies, 2024 |
10.2 Mexico Chocolate and Cocoa Products Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |