This diversification includes the development of cocoa derivative products such as cocoa butter, cocoa cake, cocoa powder, and cocoa mass to strengthen competitiveness in the international market.
In his statement in Jakarta, Tuesday, Win & Co President Director Sugianto Soenario said the move was a long-term expansion strategy to increase supply while taking advantage of global market growth opportunities.
“We believe that expanding into midstream cocoa is the right step to make Win & Co. a trusted cocoa partner at the national and international levels,” he said.
According to the plan, midstream cocoa production will begin in the fourth quarter of 2026.
With an efficient business model, the company with the issuer code COCO targets measured expansion with controlled risks, while ensuring product quality and distribution remain competitive.
The business to business (B2B) segment will be the main focus, while the business to consumer (B2C) segment will be developed through digital platforms and marketplaces.
“The opportunity is clear: the chocolate food trend in Europe and Asia is increasing, and the functional food product trend is also increasing, plus its widespread use in the cosmetics and pharmaceutical industries,” said Sugianto.
According to 2022 data from the Central Statistics Agency (BPS), Indonesia is one of the world’s largest cocoa producers.
However, the cocoa import trend was recorded at a high level, reaching 133 thousand tons, indicating a significant opportunity to strengthen the domestic processing industry.
Meanwhile, global research by Towards FnB in August 2025 noted that the market value of cocoa derivative products is estimated to grow from US$26.59 billion in 2025 to around US$45.70 billion in 2034.
Sugianto said the European market will still dominate, with a share of around 36 percent in 2024 due to its position as a major importer and cocoa processing center.
However, the greatest growth potential lies in Asia-Pacific, which is a major producer of processed products such as biscuits, cakes and ice cream.
Through an efficient business model, he continued, Win & Co can accelerate expansion with controlled risks.
In addition, the company can also ensure high product quality control and distribution channel efficiency by prioritizing the B2B segment, which is currently known to still dominate the market.
“By diversifying Win & Co’s products into the midstream cocoa segment, the company is not only expanding its value chain but also improving quality control through integrated production processes, strengthening price competitiveness in the domestic and export markets, supporting import substitution, and expanding exports of value-added products,” he added.
