The Nigeria cocoa processing market size reached USD 615.8 Million in 2024. Looking forward, IMARC Group expects the market to reach USD 996.3 Million by 2033, exhibiting a growth rate (CAGR) of 4.9% during 2025-2033.
Report Attribute
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Key Statistics
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Base Year
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2024
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Forecast Years
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2025-2033
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Historical Years
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2019-2024
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Market Size in 2024 | USD 615.8 Million |
Market Forecast in 2033 | USD 996.3 Million |
Market Growth Rate 2025-2033 | 4.9% |
Cocoa processing refers to the conversion of cocoa beans into different forms, such as cocoa liquor, cocoa butter, and cocoa powder. Cocoa-based products are rich in theobromine, polyphenols, magnesium, zinc, iron, vitamins, etc. They offer numerous health benefits in controlling high blood pressure levels, improving cognitive health, enhancing metabolism, reducing chronic fatigue, etc. As a result, cocoa-based products find extensive applications across diverse industries, such as food and beverages, cosmetics, pharmaceuticals, etc.
In Nigeria, the presence of favorable climatic conditions and extensive land use for the sustainable production of cocoa is propelling the market for cocoa processing. In line with this, the Federal Government of Nigeria has launched numerous schemes and subsidies for cocoa farmers to ensure improved productivity and high-grade bean quality. Moreover, the Nigerian Export Promotion Council (NEPC) is focusing on expanding the trade activities for cocoa beans by establishing specialized units, such as the Cocoa Association of Nigeria (CAN). Besides this, the increasing penetration of western food trends in Nigeria is also driving the demand for cocoa-based baked goods, beverages, confectioneries, etc. Additionally, the growing awareness towards numerous anti-aging, moisturizing, and anti-inflammatory properties of cocoa beans is further catalyzing their usage in the cosmetics sector. The rising popularity of cocoa-infused grooming products, including soap bars, lotions, creams, lip balms, etc., is also bolstering the market growth. Moreover, cocoa products are extensively utilized as flavoring agents and coatings on medicines and supplements in the pharmaceutical industry.
IMARC Group provides an analysis of the key trends in each segment of the Nigeria cocoa processing market report, along with forecasts for the period 2025-2033. Our report has categorized the market based on bean type, product type and application.
Breakup by Bean Type:
Breakup by Product Type:
Breakup by Application:
The competitive landscape of the industry has also been examined with some of the key players being Cocoa (Ile-Oluji) Limited, FTN Cocoa Processors Plc, Mondelez International, Olam International and Saroafrica International Limited.
Report Features | Details |
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Base Year of the Analysis | 2024 |
Historical Period | 2019-2024 |
Forecast Period | 2025-2033 |
Units | Million USD |
Segment Coverage | Bean Type, Product Type, Application |
Companies Covered | Cocoa (Ile-Oluji) Limited, FTN Cocoa Processors Plc, Mondelez International, Olam International and Saroafrica International Limited |
Customization Scope | 10% Free Customization |
Post-Sale Analyst Support | 10-12 Weeks |
Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
Key Questions Answered in This Report: