Cacao Market Projected To Rise 7% By 2030

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Albany, NY — Worldwide sales of cacao are expected to increase 7 percent during the next 10 years, according to Transparency Market Research (TMR), which anticipates the market to be worth $20 billion by the end of the forecast period. The cacao market currently is valued at about $10 billion.

In addition to gains in production and consumption of chocolate, the cacao market will be energized by increasing disposable incomes and interest in premium items, seasonally relevant products and innovation such as vegan bars and ruby chocolate, the market research company reports.

Further, cacao’s use in pharmaceuticals and cosmetics is set to grow because of benefits from consumption and application, according to TMR.