Chocolate Market size was valued at USD 130.72 Billion in 2024 and is projected to reach USD 172.89 Billion by 2030. Along with a CAGR of 4.17%.

The Chocolate Market report segments the industry into Confectionery Variant (Dark Chocolate, Milk and White Chocolate), Distribution Channel (Convenience Store, Online Retail Store, Supermarket/Hypermarket, Others), and Region (Africa, Asia-Pacific, Europe, Middle East, North America, South America). Five years of historical data and five-year forecasts are provided.

The global chocolate market size was valued at USD 45.95 Billion in 2024. The industry is expected to grow at a CAGR of 4.90% during the forecast period of 2025-2034 to reach a valuation of USD 74.14 Billion by 2034.

The UK Chocolate Market is segmented by Confectionery Variant (Dark Chocolate, Milk and White Chocolate) and by Distribution Channel (Convenience Store, Online Retail Store, Supermarket/Hypermarket, Others). 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.

Global chocolate market worth at USD 135.75 Billion in 2024, is expected to surpass USD 191.48 Billion by 2034, with a CAGR of 3.5% from 2025 to 2034.

The Hershey Company was the leading chocolate manufacturer in the United States in 2022 in terms of market share. The company held approximately 35.5 percent of the total market, with only Mars as a significant competitor for market leader. In terms of the total confectionery market, Mars has Hershey beat for largest market share, but only barely edged out their competitor by about 0.4 percent. Hershey’s history The Hershey Company was founded in 1894 by Milton Hershey and is headquartered in Hershey, Pennsylvania. The town itself was largely built by Milton Hershey, and many places in the town bear the Hershey name, including Hershey’s Chocolate World and Hersheypark. Hershey’s Chocolatetown at Hersheypark was one of the largest construction projects in the United States as of January 2019, with a cost of 150 million dollars. Hershey’s popularity Hershey’s generous market share in the United States is due to the confectionery company’s popularity across brands. In a 2018 survey, three of the top four most popular chocolate brands among consumers were sold by Hershey. When it comes to Halloween candy, the company’s Reese’s Peanut Butter Cups were the prized chocolate among trick-or-treaters of all ages.

The North America Chocolate Market report segments the industry into Confectionery Variant (Dark Chocolate, Milk and White Chocolate), Distribution Channel (Convenience Store, Online Retail Store, Supermarket/Hypermarket, Others), and Country (Canada, Mexico, United States, Rest of North America). The report includes market size in Value in USD and Volume, forecasts up to 2030, analysis of growth prospects.

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Chocolate Market Size 2025-2029

The chocolate market size is forecast to increase by USD 52.7 billion, at a CAGR of 5.1% between 2024 and 2029.

The market is characterized by the increasing trend towards premiumization, as consumers seek high-quality, artisanal, and ethically-sourced chocolate products. Simultaneously, innovation in chocolate packaging continues to shape the market landscape, with manufacturers focusing on sustainable, eco-friendly, and visually appealing solutions to differentiate their products. However, the market faces challenges in the form of unstable cocoa prices and declining per capita consumption in some regions. These challenges necessitate strategic planning and agility from market players, as they navigate price fluctuations and adapt to evolving consumer preferences.
To capitalize on opportunities and mitigate risks, companies must focus on sustainable sourcing, product innovation, and effective marketing strategies. By staying attuned to these market dynamics, chocolate manufacturers can position themselves for long-term success in this dynamic and evolving market.

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

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The market continues to evolve, with dynamic market dynamics shaping its various sectors. Milk solids remain a crucial component, as manufacturers strive for optimal product quality and consumer preferences shift towards milk chocolate. Chocolate spread and hot chocolate segments experience growth, driven by innovation and expanding application areas. Supply chain management plays a pivotal role, with cocoa butter and import markets influencing production capacity. E-commerce sales surge, disrupting traditional distribution channels. Dark chocolate, with its health benefits, gains popularity, while premium chocolate and gourmet offerings cater to discerning consumers. Ingredient sourcing, including fair trade cocoa beans, and pricing strategies are critical factors.

Shelf life and food safety concerns are addressed through rigorous quality control measures. The market's continuous unfolding is reflected in the emergence of new product categories, such as chocolate liquor and chocolate syrup. Cocoa nibs and white chocolate find applications in various industries, from food and beverage to cosmetics. Brand loyalty and consumer preferences shape the competitive landscape, with mass production and candy making companies vying for market share. Waste management and sustainability become increasingly important considerations. The market's evolution underscores its versatility and adaptability, as it caters to diverse consumer demands and industry trends.

How is this Chocolate Industry segmented?

The chocolate industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Product

  Milk chocolate
  Dark chocolate
  White chocolate


Distribution Channel

  Offline
  Online


Type

  Traditional
  Artificial


Cocao Content

  Low (60%)


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    Italy
    UK


  Middle East and Africa

    Egypt
    KSA
    Oman
    UAE


  APAC

    China
    India
    Japan


  South America

    Argentina
    Brazil


  Rest of World (ROW)

By Product Insights

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

The market encompasses various product categories, including gourmet chocolate, milk chocolate, and chocolate candies. Milk chocolate, made with milk and containing 10%-20% cocoa solids and milk solids, is a popular choice due to its smoother, creamier taste. However, health concerns have led to a decrease in demand, with each pound containing approximately 2,300 calories, 140 grams of fat, and 100 milligrams of cholesterol. Product innovation continues to drive the market, with new flavors and product lines introduced regularly. Export markets and fair trade practices have expanded, ensuring ethical sourcing of cocoa beans and premium ingredients. Production capacity has increased, enabling mass production while maintaining quality control.

Consumer preferences for dark chocolate and healthier options have influenced pricing strategies. Distribution channels have expanded to include e-commerce sales and retail outlets. Ingredient sourcing, shelf life, and food safety are critical considerations. Cocoa powder, chocolate chips, chocolate bars, chocolate spread, hot chocolate, chocolate liquor, cocoa butter, and import markets are integral components of this dynamic market. Supply chain management and waste

Craft Chocolate Market Outlook

According to our latest research, the global craft chocolate market size reached USD 1.74 billion in 2024, reflecting robust expansion driven by consumer demand for premium and artisanal chocolate products. The market is exhibiting a strong compound annual growth rate (CAGR) of 9.3% from 2025 to 2033, with projections indicating that the craft chocolate market will reach approximately USD 3.91 billion by 2033. This remarkable growth trajectory is propelled by rising consumer awareness about high-quality ingredients, ethical sourcing, and unique flavor profiles that distinguish craft chocolate from mass-produced alternatives. As per our latest findings, the shift in consumer preferences towards authenticity and sustainability continues to fuel the expansion of this dynamic market.

One of the primary growth drivers for the craft chocolate market is the increasing consumer inclination towards premium and artisanal food products. Modern consumers, particularly millennials and Gen Z, are seeking unique experiences and are willing to pay a premium for products that offer superior taste, ethical sourcing, and transparency. This demand for authenticity has led to a surge in small-batch, bean-to-bar chocolate makers who emphasize craftsmanship, traceability, and high-quality ingredients. The trend is further amplified by the growing popularity of experiential gifting and gourmet food culture, where craft chocolate is often positioned as a luxury indulgence. As consumers become more educated about the differences between mass-produced and craft chocolate, they are increasingly drawn to brands that highlight origin stories, sustainable practices, and innovative flavor combinations.

Another significant factor contributing to the growth of the craft chocolate market is the rising awareness and demand for ethically sourced and organic products. Consumers are becoming more conscious of the environmental and social impact of their purchases, leading to a preference for chocolates made from sustainably sourced cocoa beans. Certifications such as Fair Trade, Rainforest Alliance, and Organic are gaining traction, as they assure consumers of responsible sourcing and production practices. This shift is compelling craft chocolate manufacturers to invest in direct trade relationships with cocoa farmers, ensuring higher quality beans and better livelihoods for producers. Additionally, the increasing prevalence of health-conscious lifestyles has led to a growing demand for dark chocolate varieties with higher cocoa content and lower sugar levels, further expanding the market's consumer base.

The craft chocolate market is also benefiting from the proliferation of specialty retail channels and the rise of e-commerce. Specialty stores, gourmet boutiques, and online platforms are playing a crucial role in making craft chocolate accessible to a wider audience. These channels provide an ideal environment for storytelling, brand differentiation, and consumer education, which are essential for the success of artisanal products. The digital transformation of retail has enabled craft chocolate brands to reach niche markets and global consumers, breaking geographical barriers and fostering brand loyalty through direct-to-consumer sales. Moreover, the COVID-19 pandemic accelerated the adoption of online shopping, further boosting the market's growth prospects by enabling small and emerging brands to compete alongside established players.

From a regional perspective, Europe and North America continue to dominate the craft chocolate market, accounting for a significant share of global revenue. Europe, with its rich tradition of chocolate craftsmanship, remains a hub for innovation and premiumization, while North America is witnessing a surge in bean-to-bar startups and artisanal chocolate makers. The Asia Pacific region is emerging as a lucrative market, driven by rising disposable incomes, urbanization, and a growing appreciation for gourmet food experiences. Latin America, as a major cocoa-producing region, is also witnessing increased activity in the craft chocolate segment, with local brands leveraging their proximity to high-quality cocoa sources. The Middle East and Africa, though currently a smaller market, are expected to experience steady growth as consumer awareness and retail infrastructure improve.

Dark Chocolate Market size was valued at USD 70.69 Billion in 2024 and is projected to reach USD 126.13 Billion by 2031, growing at a CAGR of 8.28% from 2024 to 2031.Global Dark Chocolate Market DriversGrowing Health Awareness and Perceived Benefits of Dark Chocolate: The rising knowledge of dark chocolate's potential health advantages is propelling market expansion. Consumers are growing interested in dark chocolate because of its greater cocoa content and accompanying health benefits. According to a National Confectioners Association (NCA) survey, 72% of consumers believe that chocolate may be part of a nutritious diet. Furthermore, the research says that 88% of Americans believe chocolate is a delicacy that should be consumed in moderation.Rising Demand for Premium and Organic Dark Chocolate Products: Consumers increasingly demand high-quality, premium dark chocolate products, particularly those that are organic and ethically sourced. According to the International Cocoa Organization (ICCO), the worldwide organic chocolate industry is predicted to increase at a 2.5% CAGR from 2019 to 2024. Furthermore, a survey published in the Journal of Food Products Marketing discovered that 68% of consumers are willing to spend more for organic chocolate goods.Expanding Dark Chocolate Market in Emerging Economies: The dark chocolate market is expanding rapidly in emerging economies, particularly Asia-Pacific and Latin America, as disposable incomes rise and consumer preferences shift. According to Euromonitor International, the compound annual growth rate (CAGR) for dark chocolate sales in China is expected to be 11.3% between 2021 and 2026. Similarly, the dark chocolate market in India is predicted to develop at an 8.5% CAGR during the same period.

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Dark Chocolate Market Size 2025-2029

The dark chocolate market size is forecast to increase by USD 37.37 billion, at a CAGR of 9.1% between 2024 and 2029.

The market is driven by the growing health consciousness among consumers, fueling the demand for dark chocolate due to its numerous health benefits. Dark chocolate, rich in antioxidants and minerals, is increasingly preferred over milk chocolate. Furthermore, the trend towards gourmet, artisanal, vegan, and gluten-free dark chocolate is gaining momentum, expanding the market's reach and appeal. However, the market faces challenges due to the volatility in raw material prices, primarily cocoa beans.
Producers and manufacturers must navigate this price instability to maintain profitability and competitiveness. To capitalize on the market's growth potential, companies should focus on innovation, catering to diverse consumer preferences, and implementing effective supply chain strategies to mitigate the impact of raw material price fluctuations.

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

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The dynamic nature of the market continues to unfold, driven by evolving consumer preferences and technological advancements. Health benefits associated with dark chocolate, derived from its high cocoa percentage and antioxidant properties, fuel demand across various sectors. Ingredient sourcing, from luxury chocolate to mass market varieties, influences production efficiency and sensory experience. Cocoa beans, the foundation of chocolate production, undergo rigorous quality control measures to ensure consistency and purity. Chocolate liquor, a key ingredient in chocolate bars and confections, is subject to process optimization for improved efficiency and cost savings. Consumer preferences for artisan chocolate, single origin, and fair trade options have led to product innovation and direct sales channels.

Cocoa powder, a versatile ingredient, finds applications in baking and beverages, including ice cream and chocolate cakes. Brand loyalty, driven by unique flavor profiles and sustainability practices, shapes pricing strategies for both luxury and mass market chocolate. Milk solids, cocoa mass, and cocoa butter are essential components in chocolate production, requiring ongoing process optimization to meet consumer demands and dietary restrictions. The continuous unfolding of market activities in the dark chocolate industry underscores the importance of ingredient sourcing, production efficiency, and consumer preferences. The sensory experience, from the first bite of a chocolate bar to the final luscious morsel of a chocolate truffle, remains a key differentiator for brands and manufacturers.

How is this Dark Chocolate Industry segmented?

The dark chocolate industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Type

  Conventional
  Organic


Distribution Channel

  Supermarkets
  Online Retail
  Specialty Stores


Product Type

  Bars
  Truffles
  Chips and Chunks
  Others


Geography

  North America

    US
    Canada


  Europe

    Belgium
    France
    Germany
    Italy
    UK


  APAC

    China
    India
    Japan


  Rest of World (ROW)

By Type Insights

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

In the dynamic the market, various formats cater to diverse consumer tastes and preferences. Dark chocolate bars, available in varying cocoa percentages, are popular choices, offering a rich, smooth texture and intense cocoa flavor. These bars, ranging from semi-sweet to bittersweet, are favored by chocolate connoisseurs. Additionally, dark chocolate blocks are widely used in baking and confectionery applications due to their versatility. Dark chocolate pieces or chunks, convenient for snacking and recipe incorporation, are also prevalent. Furthermore, the market presents an array of flavored dark chocolate products, infused with fruits, nuts, spices, and herbs, to add complexity and depth to taste profiles.

Dark chocolate is not only consumed as standalone bars but also used in the production of chocolate liquor, chocolate chips, chocolate cakes, chocolate mousses, chocolate truffles, ice cream, and other confectionery items. Wholesale distribution and retail channels ensure easy accessibility to consumers, while quality control measures maintain consistency in product offerings. Brand loyalty is a significant factor, with artisan chocolate and fair trade options appealing to consumers seeking ethically sourced, high-quality ingredients. Production effici

Blonde Chocolate Market Outlook

According to our latest research, the global blonde chocolate market size reached USD 1.13 billion in 2024, reflecting robust consumer interest and expanding product innovation. The market is projected to register a CAGR of 8.2% from 2025 to 2033, reaching a forecasted value of USD 2.21 billion by 2033. This growth is primarily driven by evolving consumer preferences for premium and novel chocolate experiences, coupled with the increasing penetration of artisan chocolatiers and mainstream brands introducing blonde chocolate variants. As per our latest research, the combination of rising disposable incomes, heightened awareness of unique chocolate flavors, and aggressive marketing strategies is fueling the sustained expansion of the blonde chocolate market globally.

A significant growth factor for the blonde chocolate market is the rising demand for premium confectionery products among consumers who seek distinctive taste profiles and luxury experiences. Blonde chocolate, characterized by its caramelized, toffee-like flavor and creamy texture, is increasingly being positioned as a gourmet alternative to traditional milk and white chocolates. This trend aligns with the broader movement toward artisanal and specialty foods, as consumers are willing to pay a premium for innovative and high-quality chocolate offerings. The growing influence of social media and food bloggers has further amplified the visibility of blonde chocolate, enticing a new generation of consumers to try this unique product. Additionally, limited edition releases and collaborations with renowned chefs and chocolatiers are creating a sense of exclusivity and urgency, bolstering market growth.

Another crucial driver is the expansion of the product portfolio by major chocolate manufacturers and boutique brands alike. Companies are introducing blonde chocolate in various formats, such as bars, chips, blocks, and truffles, to cater to diverse consumer preferences and consumption occasions. The versatility of blonde chocolate in culinary applications, from bakery and confectionery to beverages and desserts, is attracting both individual consumers and professional users in the food service industry. Manufacturers are also leveraging advanced processing techniques to enhance the flavor, texture, and shelf life of blonde chocolate, thereby appealing to a wider audience. The introduction of healthier variants, such as low-sugar or organic blonde chocolate, is further broadening the market’s appeal, particularly among health-conscious consumers.

In addition to product innovation, the global distribution landscape is playing a pivotal role in market expansion. The proliferation of online retail channels has made blonde chocolate more accessible to consumers across urban and rural areas, breaking down geographical barriers that previously limited product availability. Supermarkets, hypermarkets, and specialty stores are dedicating more shelf space to premium chocolate offerings, reflecting the growing consumer appetite for unique flavors. Strategic partnerships between chocolate manufacturers and leading retailers are ensuring wider reach and effective merchandising. Furthermore, the increasing presence of blonde chocolate in food service and hospitality sectors, including cafes, restaurants, and hotels, is driving both trial and repeat purchases, contributing to overall market growth.

Regionally, Europe continues to dominate the blonde chocolate market, accounting for the largest share in 2024, followed by North America and Asia Pacific. The strong tradition of chocolate consumption in Europe, coupled with the presence of leading chocolatiers and a discerning consumer base, underpins the region’s leadership. However, rapid urbanization, rising disposable incomes, and the growing influence of Western culinary trends are fueling demand in emerging markets across Asia Pacific and Latin America. North America is also witnessing robust growth, driven by the increasing popularity of premium and specialty chocolates. The Middle East & Africa region, though currently representing a smaller share, is expected to register significant growth over the forecast period, supported by expanding retail infrastructure and changing consumer preferences.

Cocoa and Chocolate Market projected to exceed USD 69.1 billion by 2030, growing at a CAGR of 4.6%.

The global Chocolate Market size is expected to reach USD 161.99 Billion in 2032 registering a CAGR of 3.4%. Our report provides a comprehensive overview of the industry, including key players, market share, growth opportunities and more.

The Global Candy & Chocolate Manufacturing industry has seen considerable changes in recent years, driven by overarching consumer trends and shifting market dynamics. As a multi-billion-dollar industry, it has adeptly responded to evolving tastes, health concerns and sustainability demands. Recent indicators show strong growth, propelled by innovation and a sharper focus on consumer preferences. Despite economic uncertainties and supply chain disruptions, the industry has maintained momentum, with significant companies quickly adapting to changing market conditions. Industry-wide revenue has shrunk at a CAGR of 1.0% to $226.2 billion over the five years to 2024, including an estimated 2.2% dip in 2024 alone, when profit is set to dip to 8.4%. Over the past five years, several key trends have shaped the industry. Sustainability has emerged as a crucial focus, with manufacturers heavily investing in eco-friendly practices and ethical sourcing to meet the growing consumer demand for products that benefit personal health and the planet. Health consciousness has led to a significant rise in the production of low-sugar, organic and functional chocolates. The growth of e-commerce and direct-to-consumer sales, accelerated by the COVID-19 pandemic, has revolutionized how these products are marketed and distributed. Also, pursuing novel flavors has introduced bold and exotic options, appealing to adventurous consumers and driving excitement in the market. Looking forward, the next five years promise continued dynamism in the Global Candy & Chocolate Manufacturing industry. Sustainability efforts are expected to intensify, with more brands committing to zero-waste production and transparent supply chains. Health trends spur innovation, resulting in a broader range of guilt-free indulgences catering to various dietary needs. Digital sales channels will continue to expand, offering enhanced customer engagement through personalized and interactive online experiences. Flavor innovation will remain a key driver, with artisanal and craft chocolates taking the spotlight. As the industry evolves, businesses that can seamlessly integrate these trends into their operations will thrive in an increasingly competitive landscape. Overall, industry revenue is forecast to climb at a CAGR of 0.3% to $230.0 billion over the five years to 2029.

The Italy Chocolate Market is segmented by Confectionery Variant (Dark Chocolate, Milk and White Chocolate) and by Distribution Channel (Convenience Store, Online Retail Store, Supermarket/Hypermarket, Others). 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.

The global Chocolate Market is projected to reach USD 255.58 billion by 2034 With at a CAGR of 5.6% during the forecast period.

The size of Thailand Chocolate Market was valued at around USD 257 million in 2024 & is projected to reach USD 332 million by 2030 with a CAGR of 5.3%.

Organic Chocolate Market size is expected to be worth around USD 1324.8 Mn by 2034, from USD 608.0 Mn in 2024, at a CAGR of 8.1%