Cocoa decreased 3,489.42 USD/MT or 30.33% since the beginning of 2025, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Cocoa - values, historical data, forecasts and news - updated on March of 2025.

Between 2016 and 2024, the monthly price of cocoa worldwide peaked in April 2024 at about 9,876 U.S. dollars per metric ton. Global cocoa industry Global cocoa production is expected to reach about 4.5 million tons in the 2023/2024 crop year. Most of the world’s cocoa beans are grown in Africa; in 2023/2024, about 3.2 million tons of cocoa beans were produced there, while about one million tons were grown in the Americas. Within Africa, Côte d'Ivoire and Ghana were the countries with the highest production of cocoa beans. Chocolate retail worldwide In 2016, Mars controlled a 14.4 percent share of the chocolate market worldwide, making it the single biggest player in the chocolate industry. Mars owns such chocolate brands as M&Ms, Snickers, and Dove. The countries with the highest per capita chocolate consumption are Switzerland, Austria, and Germany.

This statistic depicts the average annual prices for cocoa from 2014 through 2026*. In 2023, the average price for cocoa stood at 3.28 nominal U.S. dollars per kilogram.

The size of the Cocoa Beans Market was valued at USD 178.9 billion in 2023 and is projected to reach USD 243.46 billion by 2032, with an expected CAGR of 4.5 % during the forecast period. Cocoa beans are the seeds of the cacao tree (Theobroma cacao), native to the tropical regions of Central and South America, and are primarily used in the production of chocolate and cocoa products. The beans are encased in pods that grow directly from the trunk and branches of the cacao tree. Inside these pods, the cocoa beans are surrounded by a sweet, white pulp, which is also edible but is not the main product. To harvest cocoa beans, farmers cut the pods from the tree, split them open, and remove the beans, which are then fermented for several days. This fermentation process is crucial as it develops the beans' flavor and aroma, laying the foundation for the chocolate-making process. After fermentation, the beans are dried, roasted, and winnowed to remove their outer shells, leaving behind the cocoa nibs, which are the essence of chocolate. Cocoa beans contain a complex mixture of compounds, including flavonoids, theobromine, and caffeine, contributing to their unique flavor profile and potential health benefits. The primary product derived from cocoa beans is chocolate, available in various forms such as dark, milk, and white chocolate, each differing in cocoa content and processing methods. Cocoa beans also produce cocoa powder and cocoa butter, which are used in baking, confectionery, and cosmetic products. The cocoa industry has significant economic implications, particularly for farmers in developing countries who rely on cocoa cultivation for their livelihoods. However, the industry faces challenges such as price volatility, climate change, and ethical concerns regarding labor practices. As a result, sustainable and fair-trade practices are gaining importance in cocoa production, ensuring that farmers receive fair compensation while promoting environmentally friendly cultivation methods.

The Indian cocoa bean market soared to $256M in 2024, picking up by 18% against the previous year. In general, consumption saw a resilient increase. Over the period under review, the market hit record highs at $262M in 2022; however, from 2023 to 2024, consumption failed to regain momentum.

The market is expected to grow at a CAGR of 6.5 % with a market value of USD 15.5 Billion in 2025 and USD 29.1 Billion in 2035. The market growth is primarily driven by increasing demand for premium and artisanal chocolate along with quality cacao beans.

Market Metrics

Metric	Value
Industry Size (2025E)	USD 15.5 Billion
Industry Value (2035F)	USD 29.1 Billion
CAGR (2025 to 2035)	6.5%

Country-wise Outlook

Country	CAGR (2025 to 2035)
USA	6.8%

Country	CAGR (2025 to 2035)
UK	6.2%

Country	CAGR (2025 to 2035)
EU	6.4%

Country	CAGR (2025 to 2035)
Japan	6.1%

Country	CAGR (2025 to 2035)
South Korea	6.6%

Competitive Outlook

Company Name	Estimated Market Share (%)
Barry Callebaut	12-16%
Cargill, Inc.	10-14%
Olam International	8-12%
ECOM Agroindustrial Corp.	6-10%
Touton S.A.	4-8%
Other Companies (combined)	45-55%

The Europe cocoa bean market soared to $7.4B in 2024, surging by 39% against the previous year. The total consumption indicated temperate growth from 2012 to 2024: its value increased at an average annual rate of +4.5% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, consumption increased by +61.3% against 2022 indices.

The global cocoa bean market is expected to grow at a CAGR of 3.5% during the forecasted period of 2025-2033. The market is projected to grow from USD XXX million in 2025 to USD XXX million by 2033. The rising consumer demand for chocolate and cocoa-based products, coupled with increasing awareness of the health benefits associated with cocoa consumption, are major drivers of the cocoa bean market. Growing disposable income and changing lifestyles, particularly in developing countries, are further contributing to the market growth. The increasing urbanization and industrialization in developing regions have led to the emergence of organized retail formats, including supermarkets and hypermarkets, which have made cocoa beans more accessible to consumers. The growing popularity of online retail channels is also providing new opportunities for cocoa bean traders and manufacturers to reach a wider customer base. Additionally, the increasing use of cocoa beans in the food and beverage industry, cosmetics, and pharmaceuticals is expected to support the market growth during the forecast period. However, factors such as climate change, rising input costs, and price volatility in the global cocoa bean market could restrain market growth.

Global cocoa and chocolate market was valued at USD 46.4 billion in 2021 and is expected to grow at a CAGR of 4.6% during the forecast period.

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Chocolate Confectionery Market Size 2024-2028

The chocolate confectionery market size is forecast to increase by USD 31 billion at a CAGR of 4.36% between 2023 and 2028.

The market is experiencing significant growth, driven by the frequent product launches and packaging innovations in the industry. Consumers' increasing preference for premium and artisanal chocolate products, coupled with the expanding retail presence of these offerings, is fueling market expansion. However, the market faces challenges, including the rise in the number of product recalls due to contamination issues. These incidents can negatively impact brand reputation and consumer trust, necessitating stringent quality control measures. To capitalize on market opportunities and navigate challenges effectively, companies must prioritize product safety, invest in research and development for innovative offerings, and adopt sustainable and ethical sourcing practices. By staying abreast of consumer trends and market dynamics, chocolate confectionery players can position themselves for long-term success in this dynamic and competitive market.

What will be the Size of the Chocolate Confectionery Market during the forecast period?

Request Free SampleThe market experiences growth, fueled by consumers' enduring affection for premium quality chocolate products. Global chocolate consumption continues to rise, driven by the popularity of both mainstream and luxury indulgence offerings. Premium confectionery products, including milk mousse and creamy caramel, capture a significant market share due to their rich sensorial appeal. Health-conscious consumers seek out chocolate with label claims such as organic, sustainably sourced, and dark chocolate varieties, reflecting the trend towards healthy eating lifestyles. Exotic spices, floral notes, unexpected textures, and rare cocoa varieties add to the market's dynamic nature, catering to the diverse tastes of chocolate lovers. Artisanal chocolates, with their distinct flavor combinations, further expand the market landscape, offering a unique and luxurious experience.

How is this Chocolate Confectionery Industry segmented?

The chocolate confectionery industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments. ProductChocolate barsBoxed assortments and seasonal variantsOthersDistribution ChannelOfflineOnlineGeographyEuropeGermanyUKNorth AmericaUSAPACChinaIndiaSouth AmericaMiddle East and Africa

By Product Insights

The chocolate bars segment is estimated to witness significant growth during the forecast period.The market is expected to grow steadily, with chocolate bars remaining the largest segment in 2023 and beyond. This segment includes countlines and molded bars. Countlines consist of individually wrapped, chocolate-coated bars, while molded bars are small chocolate pieces cut from larger blocks. Major brands such as Snickers, Milky Bar, Milka, Galaxy, 5 Star, Dove, and Cadbury Dairy Milk dominate the chocolate bars market. Innovative chocolate flavors and textures, as well as attractive packaging, are key growth drivers. Consumer preferences for premium quality products, including dark chocolate confectionery with health benefits, are influencing market trends. Peanut butter, milk mousse, creamy caramel, and other gourmet flavors are gaining popularity. Healthy eating lifestyles have led to the demand for sugar reduction, low-calorie, and sugar-free chocolate snacks. Premium chocolate brands, artisanal chocolates, and organic and sustainably sourced chocolate are also on the rise. Consumer packs, added sugar content, and seasonal treats are other market trends. Consumers' preferences for high-quality, gourmet chocolate products, visual appeal, and innovative varieties continue to shape the market.

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The Chocolate bars segment was valued at USD 50.50 billion in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

APAC is estimated to contribute 33% to the growth of the global market during the forecast period.Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The European the market is driven by the demand for premium quality products, particularly in the UK, Germany, France, Switzerland, Italy, Russia, the Netherlands, Poland, Belgium, and Spain. Major players in this market include Mars, Mondelez International, Barry Callebaut, Nestle, Ferrero, and Chocoladefabriken Lindt and Sprungli AG. The market is highly competitive, with a variety of offerings from both regional

In 2024, the Vietnamese market for chocolate and other food preparations containing cocoa decreased by -12.7% to $8.3M for the first time since 2020, thus ending a three-year rising trend. Over the period under review, consumption, however, enjoyed a remarkable increase. Consumption of peaked at $9.5M in 2023, and then declined in the following year.

The cocoa liquor market value is expected to total US$ 7,021 million in 2023, according to Future Market Insights (FMI). The entire market value is expected to reach US$ 12,229.3 million by 2033, growing at a CAGR of 6% for 2023 to 2033.

Attribute	Details
Cocoa Liquor Industry Size (2018)	US$ 6,299.2 million
Cocoa Liquor Industry Size (2022)	US$ 6,751.03 million
Cocoa Liquor Market Size (2023)	US$ 7,021 million
Cocoa Liquor Market Size (2033)	US$ 12,229.3 million
Cocoa Liquor Market CAGR (2018 to 2022)	1.7%
Cocoa Liquor Market CAGR (2023 to 2033)	6%

Country-wise Insights

Country	The United States
Value Share % (2022)	21.8%

Country	Germany
Value Share % (2022)	20.6%

Country	India
Market CAGR % (2023 to 2033)	7.6%

Country	China
Market CAGR % (2023 to 2033)	6.7%

Category-wise Insights

Segment	Dutch
Value Share % (2022)	57%

Segment	Forastero
Value Share % (2022)	80%

Segment	Wafers
Value Share % (2022)	41%

Scope of Cocoa Liquor Market Report

Attribute	Details
Forecast Period	2023 to 2033
Historical Data Available for	2018 to 2022
Market Analysis	US$ million for Value
Key Countries Covered	The United States, Canada, Germany, the United Kingdom, France, Italy, Spain, Russia, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Australia, New Zealand, GCC Countries, Northern Africa, and South Africa
Key Segments Covered	Product Type, Cocoa Variety, Form, Application, and Region
Key Companies Profiled	Cargill Inc. The Archer Daniels Midland Company United Cocoa Processor, Inc. Blommer Chocolate Company Nestlé S.A Valrhona Barry Callebaut Cemoi JBCOCOA India Cocoa Charley's Others
Report Coverage	Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives
Customization & Pricing	Available upon Request

Poland Product Stocks: PKWiU: Chocolate incl White data was reported at 10.800 Ton th in Mar 2018. This records an increase from the previous number of 10.200 Ton th for Dec 2017. Poland Product Stocks: PKWiU: Chocolate incl White data is updated quarterly, averaging 6.900 Ton th from Sep 2002 (Median) to Mar 2018, with 63 observations. The data reached an all-time high of 14.300 Ton th in Dec 2013 and a record low of 2.600 Ton th in Jun 2003. Poland Product Stocks: PKWiU: Chocolate incl White data remains active status in CEIC and is reported by Central Statistical Office. The data is categorized under Global Database’s Poland – Table PL.C006: Product Deliveries and Stocks: Polish Classification of Products and Services.

The global caffeinated chocolate market is estimated to be valued at XXX million in 2025, and is projected to grow at a CAGR of XX% from 2025 to 2033. The growth of the market is attributed to the increasing popularity of energy-boosting foods and beverages, as well as the rising demand for dark chocolate. Additionally, the growing awareness of the health benefits of caffeine, such as its ability to improve cognitive function and reduce the risk of certain diseases, is expected to further drive the demand for caffeinated chocolate. The market is segmented into types, applications, and regions. By type, the market is divided into dark chocolate, milk chocolate, and others. Dark chocolate is expected to hold the largest market share during the forecast period, owing to its high caffeine content and perceived health benefits. By application, the market is segmented into online sales, hospitals and clinics, pharmacies, and others. Online sales are expected to witness the highest growth rate during the forecast period, as consumers increasingly prefer to purchase products online for convenience and time-saving. Geographically, the market is divided into North America, South America, Europe, Middle East & Africa, and Asia Pacific. North America is expected to dominate the market throughout the forecast period, due to the high consumption of caffeinated products in the region.

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Dark Chocolate Market Size 2024-2028

The dark chocolate market size is forecast to increase by USD 36.04 billion at a CAGR of 9.45% between 2023 and 2028.

The market encompasses the production and sale of chocolate with a minimum cocoa content of 35% to 85%, excluding milk solids. Dark chocolate's bitter aftertaste, derived from higher cocoa solids and lower milk solids, distinguishes it from milk chocolate. Manufacturers often add sugar, vanilla extract, and soy lecithem as emulsifiers to improve texture and shelf life. 
Health-conscious consumers increasingly prefer dark chocolate for its perceived medical advantages. Dark chocolate's association with cardiovascular health, improved blood flow, and skin health has fueled its popularity. The chocolate industry continues to innovate, offering gluten-free, fine flavor cocoa, and premium dark chocolates infused with dried fruits and natural sweeteners like coconut sugar.

What will be the Size of the Dark Chocolate Market During the Forecast Period?

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Digital channels and dietary patterns have transformed chocolate sales, enabling direct-to-consumer transactions and catering to various consumer preferences. The market's size and direction reflect these trends, with an increasing demand for healthy, natural, and gourmet chocolate products. However, the market faces a perception crisis due to the high sugar content in many dark chocolate offerings, necessitating ongoing innovation to address consumer concerns.

How is this Dark Chocolate Industry segmented and which is the largest segment?

The dark chocolate industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Type

  Conventional
  Organic


Distribution Channel

  Offline
  Online


Geography

  Europe

    Germany
    UK
    France


  North America

    US


  APAC



  South America



  Middle East and Africa

By Type Insights

The conventional segment is estimated to witness significant growth during the forecast period.

The market caters to diverse consumer preferences with various formats and flavored options. Dark chocolate bars, available in varying cocoa percentages, range from semi-sweet to bittersweet, delivering rich cocoa flavors and smooth textures. These bars are popular among discerning chocolate lovers and are used in baking and confectionery. Dark chocolate pieces or chunks, convenient for snacking and recipe incorporation, are another prevalent form. Additionally, the market offers infused dark chocolate products, featuring fruits, nuts, spices, and herbs, which add complexity and enhance taste profiles. Dark chocolate, derived primarily from cacao beans, contains natural sugars and cocoa solids, as well as milk solids, vanilla extract, and soy lecithem as emulsifiers.

Consumption of dark chocolate is linked to numerous health benefits, including improved cardiovascular health, better blood flow, and enhanced skin health. The chocolate industry continues to grow, with distribution channels including departmental stores, pharmaceutical stores, and confectionary stores, as well as digital channels and dietary patterns favoring healthy products. Dark chocolate, with its natural ingredients and potential medical advantages, remains a popular choice for consumers seeking wellbeing and indulgence.

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The Conventional segment was valued at USD 33.32 billion in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

Europe is estimated to contribute 42% to the growth of the global market during the forecast period.

Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The European chocolate market, particularly the dark chocolate segment, is experiencing significant growth due to increasing consumer preference for premium, health-conscious options. With countries like Germany, France, Switzerland, and the UK leading the demand, the region's chocolate industry relies heavily on the importation of fine flavor cacoa beans. companies focus on innovating low-sugar dark chocolates, catering to the health-conscious population and those with obesity concerns. This trend is expected to continue driving the competitive and fragmented chocolate market in Europe. Key ingredients include cocoa solids, milk solids, sugar, vanilla extract, lecithin, and cocoa butter. Dark chocolate offers numerous health benefits, including improved cardiovascular health, enhanced blood flow, and improved skin health.

The chocolate indus

The size of the Japan Chocolate Market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 4.80% during the forecast period. The chocolate market in Japan is a vibrant industry that deals with creating and selling a variety of chocolate products, such as dark, milk, and white chocolates, along with chocolate snacks and sweets. High consumer demand for innovative flavors and premium quality products drives this market, with support from Japan's high purchasing power and diverse consumption patterns. The growth is driven by the increase in distribution channels like convenience stores and online retail stores, along with the growing demand for premium and high-quality chocolate products. The market gains advantages from seasonal festivities, popular gift-giving trends, and the growing emphasis on sustainability and transparency in where ingredients come from. Moreover, the focus of the sector on distinguishing products and carrying out strategic marketing campaigns corresponds with consumer demand for distinctive and culturally significant chocolate options. Recent developments include: August 2023: Lotte Corporation partnered with DLT Labs to promote sustainability and ethical practices in the cacao bean supply chain. Lotte is commencing its pilot project on the traceability of cacao beans from Ghana and child labor monitoring using blockchain technology.November 2022: Godiva launched its Limited Edition Holiday Gold Collection with a new festive design.June 2022: Kinder Joy, the confectionery brand of Ferrero, announced its portfolio expansion in India with the launch of Kinder Joy ‘Natoons' emphasizing on the purpose of ‘Learning about Animals’ for kids. Kinder Joy has partnered with Discovery Channel to showcase toy figures of animals such as Moorish Idols, Whales, Killer Whales, Tortoises, Macaw Yellow, Macaw Blue, Toucans, Turtle, Porcupines, Armadillo, Seal, and Basilisk.. Key drivers for this market are: Influence of Endorsements, Aggressive Marketing, and Strategic Investments, Demand for Sustainable Chocolates and Single Origin Certified Chocolates. Potential restraints include: Availability of Counterfeit Products, Fluctuating Price of Raw Materials. Notable trends are: Increasing networking of stores benefits the supermarkets/hypermarkets and convenience stores, making almost 70% of the value share.

This statistic shows the production of cocoa beans from 2020/21 to 2022/23, with a forecast for 2023/24, by country. In crop year 2022/2023, about 2.24 million metric tons of cocoa beans were produced in Côte d'Ivoire.

Cocoa production

Cocoa, a native to the Americas, was a valuable crop in the earliest South American cultures. The term cocoa originated from the Nahuatl word “cacahuatl”. Many believe that the plant first grew in the Amazon and upper Orinoco basins but the Mayans and the Aztecs eventually developed techniques to cultivate cocoa successfully. The plant was considered as a symbol of wealth for these civilizations and its beans were used as currency. Cocoa beans are the main ingredient for making chocolate. Cocoa beans are produced in tropical zones around the Equator, where climate conditions are well suited for growing cocoa trees. About 70 percent of the world’s cocoa beans come from four West African countries: Ivory Coast, Ghana, Nigeria and Cameroon. The Ivory Coast and Ghana are by far the two largest producers of cocoa, accounting for more than 50 percent of the world´s cocoa. In 2021, the Ivory Coast alone produced approximately 2.1 million metric tons of cocoa beans. The nation is expected to produce a slightly higher volume of cocoa beans during the 2022/2023 crop year.

The global organic raw chocolate market is projected to grow from USD XX million in 2023 to USD XX million by 2033, at a CAGR of XX% during the forecast period. Factors such as rising health consciousness, increasing demand for natural and minimally processed food products, and growing awareness about the benefits of organic chocolate are driving market growth. Additionally, the availability of various flavors and types of organic raw chocolate is expected to further boost demand in the coming years. The increasing popularity of e-commerce platforms is significantly contributing to the growth of the online sales segment. Moreover, the growing availability of organic raw chocolate in retail stores, health food stores, and specialty shops is expected to drive the growth of the offline sales segment during the forecast period. The key players in the organic raw chocolate market include ROYCE', Holiland, The Raw Chocolate Company, UBUD RAW CHOCOLATE & CACAO, FINE & RAW, Crubom, Raw Chocolate Love, Lovechock, Ilan's Raw Chocolate, Noah's Raw Chocolate, MY Raw Joy, and Freakin' Healthy. These companies are investing in研发，新产品开发，and strategic partnerships to expand their market presence and cater to the growing demand for organic raw chocolate.

The global cocoa powder market has reached a capacity to generate a revenue of around US$ 2,667.5 million in 2024. The sales of cocoa powder are all set to follow a moderate growth rate of 2.9% during the forecast period. By following this sluggish CAGR global cocoa powder industry share is expanding to achieve a valuation of US$ 3,441.1 million by 2034.

Report Attribute	Details
Global Market Size (2024)	US$ 2,667.5 million
Market Anticipated Forecast Value (2034)	US$ 3,441.1 million
Market Projected Growth Rate (2024 to 2034)	2.9% CAGR

Global Cocoa Powder Market Historical Analysis (2019 to 2023) Vs Forecast Outlook (2024 to 2034)

Attributes	Details
Global Cocoa Powder Market Value (2019)	US$ 2,387.4 million
Market Historical Growth Rate (CAGR 2019 to 2023)	2.1% CAGR

Country-wise Insights

Regional Market Comparison	CAGR (2024 to 2034)
United States	2.8%
Germany	2.3%
Japan	4.3%
China	3.5%
India	5.4%

Category-wise Insights

Attributes	Details
Top Product Type or Segment	Natural Cocoa Powder
Total Market Share in 2024 to 2034	64.3%

Attributes	Details
Top Sales Channel Segment	Direct Sales
Total Market Share in 2024	73.5%

Cocoa Powder Market Report Scope

Attribute	Details
Estimated Market Size (2024)	US$ 2,667.5 million
Projected Market Size (2034)	US$ 3,441.1 million
Anticipated Growth Rate (2024 to 2034)	2.9%
Forecast Period	2024 to 2034
Historical Data Available for	2019 to 2023
Market Analysis	US$ million or billion for Value and Units for Volume
Key Regions Covered	North America, Latin America, Europe, Middle East & Africa (MEA), East Asia, South Asia and Oceania
Key Countries Covered	United States, Canada, Brazil, Mexico, Germany, Spain, Italy, France, United Kingdom, Russia, China, India, Australia & New Zealand, GCC Countries, and South Africa
Key Segments Covered	By Product Type, By Sales Channel, By End Use Verticals, and By Region
Key Companies Profiled	Olam Cocoa Cargill Barry Callebaut Plot Ghana Dutch Cocoa Cocoa Processing Company Limited Indcresa Blommer JB Foods Limited
Report Coverage	Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives
Customization & Pricing	Available upon Request

The Chocolate Market is segmented by Confectionery Variant (Dark Chocolate, Milk and White Chocolate), by Distribution Channel (Convenience Store, Online Retail Store, Supermarket/Hypermarket, Others) and by Region (Africa, Asia-Pacific, Europe, Middle East, North America, South America). Market Value in USD and Volume are both presented. Key data points observed include market segmental split by confections, confectionery variant, sugar content, and distribution channel.