Cocoa - Senegal

Senegal

Revenue, at home (e.g., revenue generated in supermarkets and convenience stores) in the Cocoa market amounts to US$17.69m in 2024.
Revenue, out-of-home (e.g., revenue generated in restaurants and bars) amounts to US$1.18m in 2024.
Revenue, combined amounts to US$18.87m in 2024.
The revenue, at home is expected to grow annually by 2.79% (CAGR 2024-2029).
In global comparison, most revenue, at home is generated in the United States (US$1,849m in 2024).
In relation to total population figures, the average revenue per capita, at home of US$0.97 are generated in 2024.
In the Cocoa market, volume, at home is expected to amount to 2.93m kg by 2024.
Volume, out-of-home is expected to amount to 15.41k kg in 2024.
Volume, combined is expected to amount to 2.94m kg in 2024.
The Cocoa market is expected to show a volume growth, at home of 1.0% in 2025.
The average volume per person, at home in the Cocoa market is expected to amount to 0.2kg in 2024.

Key regions: India, United Kingdom, Thailand, Philippines, Hong Kong

Market

Region

Region comparison

Currency

Analyst Opinion

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.

Methodology

Data coverage:
The data encompasses B2C enterprises. Figures are based on private Household spendings on Hot Drinks. At-home market data covers retail sales via super- and hypermarkets, eCommerce, convenience stores, and similar sales channels. Out-of-home market data includes all sales in hotels and restaurants, sales by catering companies, as well as sales in cafés, bars, and similar hospitality service establishments.
In the out-of-home market, the price always refers to the price per kilogram of the beverage consumed, regardless of other components in the finished beverage.

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.