Global Cocoa Value Chain Industry Report Covers A Detailed Supply Chain Analysis and Value Chain Analysis of the Cocoa Bean Industry At A Global Level. A Typical Cocoa Beans Value Chain System Involves the Operation of Five Major Segments: Cocoa Bean Production, Sourcing and Trading, Marketing, Processing, Distribution, and Retailing To the Final Consumers. Stakeholders Across the Value Chain, The Price Margin At Each Stakeholder Level, and Issues Prevalent in the Cocoa Beans Value Chain are Also Provided in the Report.

Cocoa rose to 10,208.10 USD/T on June 9, 2025, up 0.34% from the previous day. Over the past month, Cocoa's price has risen 9.29%, and is up 7.62% compared to the same time last year, 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 June of 2025.

The global cocoa market size reached around 26.70 Billion in 2024. The market is projected to grow at a CAGR of 4.70% between 2025 and 2034 to reach nearly 42.26 Billion by 2034. The market growth can be attributed to the robust growth of the e-commerce sector, rising demand for cocoa-based products, increasing focus on sustainability, and technological advancements and innovations.

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 global cocoa market is set to observe USD 16.6 billion in 2025. The industry is expected to register 4.7% CAGR from 2025 to 2035, reaching USD 26.2 billion by 2035.

Metrics	Values
Industry Size (2025E)	USD 16.6 billion
Industry Value (2035F)	USD 26.2 billion
CAGR (2025 to 2035)	4.7%

Semi-Annual Industry Update

Particular	H1
Year	2024 to 2034
CAGR	4.3%

Particular	H2
Year	2024 to 2034
CAGR	4.9%

Particular	H1
Year	2025 to 2035
CAGR	4.5%

Particular	H2
Year	2025 to 2035
CAGR	5.0%

Country-wise Insights

Country	CAGR (2025 to 2035)
USA	3.9%
Germany	2.8%
China	5.9%
Japan	6.8%
India	5.5%

Competitive Outlook

Company Name	Estimated Industry Share (%)
Barry Callebaut	20-25%
Olam International	15-20%
Cargill Inc.	12-16%
Ecom Agroindustrial Corp.	8-12%
Touton S.A.	6-10%
Other Companies (combined)	25-35%

The cocoa derivatives market is estimated to be worth USD 25.23 billion in 2025 and is projected to reach USD 72.96 billion by 2035, expanding at a CAGR of 11.2% over the forecast period. The industry is on an upward trajectory due to the rise in demand for cocoa-based ingredients in various sectors including food, drinks, and cosmetics.

Metrics	Values
Industry Size (2025E)	USD 25.23 billion
Industry Value (2035F)	USD 72.96 billion
CAGR (2025 to 2035)	11.2%

Semi-Annual Market Update

Particular	Value CAGR
H1 (2024 to 2034)	10.8%
H2 (2024 to 2034)	11.2%
H1 (2025 to 2035)	10.9%
H2 (2025 to 2035)	11.4%

Segment-wise Analysis

Segment	Value Share (2025)
Cocoa Butter (By Type)	42%

Segment	Value Share (2025)
Bakery & Confectionery (By Application)	55%

Country-wise Analysis

Countries	CAGR (2025 to 2035)
USA	5.5%
UK	5.1%
France	5.8%
Germany	6.3%
Italy	5.2%
South Korea	4.7%
Japan	4.5%
China	4.2%
Australia	5.0%
New Zealand	4.9%

Competitive Outlook

Company Name	Estimated Market Share (%)
Barry Callebaut	22-26%
Cargill	18-22%
Olam International	14-18%
Blommer Chocolate Company	10-14%
ECOM Agroindustrial Corp.	8-12%
Other Companies (combined)	30-40%

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Cocoa Beans Market Size 2025-2029

The cocoa beans market size is forecast to increase by USD 3.58 billion at a CAGR of 4.5% between 2024 and 2029.

The market is experiencing significant growth, driven by the increasing popularity of chocolate-flavored beverages. This trend is particularly prominent in emerging economies, where consumers' disposable income is on the rise, leading to a growing demand for indulgent food and beverage products. However, market expansion is not without challenges. Volatility in the prices of cocoa beans, influenced by weather conditions and supply chain inconsistencies, poses a significant risk to market growth. Furthermore, regulatory hurdles impact adoption, with stricter regulations on the use of cocoa in food and beverage products in various regions. To capitalize on market opportunities and navigate challenges effectively, companies must focus on supply chain optimization, exploring alternative sources for cocoa beans, and investing in research and development to create innovative, sustainable, and cost-effective cocoa-based products.
By addressing these challenges and leveraging market trends, players in the market can seize opportunities for growth and maintain a competitive edge.

What will be the Size of the Cocoa Beans Market during the forecast period?

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The market encompasses various segments, including cocoa bean farming, agronomy, harvesting, baking, confectionery, organic, shade-grown, and agroforestry. Cocoa bean antioxidants and flavonoids have gained significant attention due to their health benefits, driving research and development in the industry. Sustainable cocoa bean farming practices, such as agroforestry, are increasingly adopted to ensure long-term productivity and environmental sustainability. The organic segment continues to grow as consumers demand healthier and ethically sourced products. Cocoa bean cultivation techniques and conferences serve to exchange knowledge and innovations, fostering market competitiveness.
The baking sector utilizes cocoa beans to create a wide range of delectable treats, while confectionery companies incorporate them into their premium chocolate products. Overall, the market exhibits dynamic trends and continuous evolution, catering to diverse consumer preferences and industry demands.

How is this Cocoa Beans Industry segmented?

The cocoa beans 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.

Application

  Confectionery
  Functional food and beverage
  Cosmetics
  Others


Product

  Cocoa butter
  Cocoa powder
  Cocoa beverages
  Others


Type

  Forastero
  Trinitario
  Criollo
  Forastero
  Trinitario
  Criollo


Nature

  Organic
  Conventional
  Organic
  Conventional


Sale Channel

  B2B
  B2C
  B2B
  B2C


Geography

  North America

    US
    Canada


  Europe

    Belgium
    France
    Germany
    Italy
    The Netherlands


  APAC

    China
    India
    Indonesia


  Rest of World (ROW)

By Application Insights

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

The market experiences continuous growth due to the increasing demand for cocoa-based chocolate and confectionery products, particularly low-fat alkalized or natural cocoa powders in items like toffee, hard candy, boiled sweets, marshmallows, count lines, and fondants. This trend is driven by consumers' preference for healthier options. Companies such as Mars and Nestle are innovating by launching products with high cocoa mass, enhancing chocolate liquor flavor. For instance, Prodigy Snacks Ltd, a UK confectionery firm, introduced Phenomenoms, a new chocolate biscuit range in two flavors on May 30, 2022. Cocoa bean processing involves several stages, including fermentation, drying, grinding, and packaging, which must adhere to sustainability and certification standards.

Regulations, labor concerns, and technology advancements impact the market dynamics. Cocoa bean storage, acquisitions, and logistics are crucial for maintaining quality and efficiency. Pests, diseases, and counterfeiting pose challenges, while research and breeding efforts aim to increase yield and improve flavor. The market is competitive, with various alternatives and deforestation concerns. Cocoa bean trading, automation, and genetics also influence production and pricing.

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The Confectionery segment was valued at USD 5.14 billion in 2019 and showed a gradual increase during the forecast period.

Regional Analysis

Europe is estimated to contribute 39% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape th

The Report On Cocoa Beans Market is Segmented by Geography (North America, Europe, Asia-Pacific, South America, and Africa) Based On Production Analysis (Volume), Consumption Analysis (Value and Volume), Export Analysis (Value and Volume), Import Analysis (Value and Volume), and Price Trend Analysis. It Also Offers Market Estimates and Forecasts in Terms of Value (USD) and Volume (Metric Tons) for all the Above Segments.

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

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On analysis of the Cocoa Market, it was observed that Global will post the highest growth among all the regions. This conclusion was made after through examination of the growth prospects of the market across several regions including Europe, MEA, APAC, North America, and South America.

The cocoa market report also provides several other key information including:

CAGR of the market during the forecast period 2020-2024
Detailed information on factors that will drive cocoa market growth during the next five years
Precise estimation of the cocoa market size and its contribution to the parent market
Accurate predictions on upcoming trends and changes in consumer behavior
The growth of the cocoa market industry across Europe, MEA, APAC, North America, and South America
A thorough analysis of the market’s competitive landscape and detailed information on vendors
Comprehensive details of factors that will challenge the growth of cocoa market vendors

The Industrial Chocolate Production industry has experienced growth, despite volatility from fluctuating cocoa prices. The industry's production, which includes processed cocoa beans to manufacture cocoa products, including cocoa powder, liquor and butter, is largely destined for chocolate confectionery producers, although bakers and dairy beverage producers also buy cocoa products to infuse into their foods. In recent years, fluctuations in cocoa prices have been offset by improving disposable incomes and greater demand for premium chocolate goods. Despite an added emphasis on health consciousness by American consumers, overall industry revenue has been increasing at a CAGR of 8.7% over the past five years and is expected to reach $3.4 billion in 2024, including a 34.0% revenue boost in 2024 alone. Revenue for producers corresponds with demand for chocolate and the price of cocoa beans. High demand for chocolate raises the selling price of cocoa beans and products, especially when supply is limited. This allows industrial chocolate producers to charge higher prices for products. Conversely, weak demand and falling cocoa prices devalue inventory, forcing losses on operators. Cocoa prices fluctuated wildly in recent years, which has ultimately made it difficult for producers to optimally price goods, even as overall selling prices have risen slightly in recent years. As a result, profit only marginally increased over the past five years. Market conditions are expected to be more stable moving forward, although a projected decline in cocoa prices will hurt selling prices for industrial chocolate producers. According to current projections, the world price of cocoa will decline moving forward. This will outweigh new opportunities for small companies, which will enter the industry to meet demand from health-conscious and environmentally friendly consumers who seek to purchase organic, sustainably sourced cocoa that demands premium prices. Consequently, industry revenue is forecast to contract at a CAGR of 1.1% over the five years to 2029 to $3.2 billion in 2029.

The global organic cocoa market is estimated to be worth USD 10.31 billion in 2025 and is projected to grow at a CAGR of 4.1%, reaching USD 15.40 billion by 2035.

Attributes	Description
Estimated Global Organic Cocoa Market Size (2025E)	USD 10.31 billion
Projected Global Organic Cocoa Market Value (2035F)	USD 15.40 billion
Value-based CAGR (2025 to 2035)	4.1%

Market Segmentation

Attributes	Details
Top Form	Cocoa Powder
Market Share in 2025	35%

Attributes	Details
Top End Use Application	Bakery and Confectionery
Market Share in 2025	36%

Country-wise Insights

Countries	CAGR
India	6.8%
Germany	4.6%
The United States	5.6%
Japan	6.4%
Thailand	6%

The North America Cocoa Market would witness market growth of 4.6% CAGR during the forecast period (2023-2030). In the year 2019, the North America market's volume surged to 843.7 Kilo Tonnes, showcasing a growth of 4.6% (2019-2022). The confectionery industry remains the primary adopter of cocoa,

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Chocolate Flavor Market Size 2024-2028

The chocolate flavor market size is forecast to increase by USD 102.9 million, at a CAGR of 4.5% between 2023 and 2028.

The market is witnessing significant growth, driven by the increasing popularity of chocolate-flavor-based baked goods and confections. The unique characteristics of chocolate, influenced by the terroir of cocoa beans, fermentation, roasting, and conching, continue to captivate chocolate lovers worldwide. The chocolate formula, a carefully guarded secret among chocolate professionals, relies on these processes to create real chocolate with distinct flavors and textures. The market trends and analysis report also highlight the increasing number of mergers and acquisitions in the industry, as companies seek to expand their product offerings and reach new markets.
However, stringent food safety regulations and guidelines pose challenges for chocolate manufacturers, requiring continuous investment in research and development to ensure the highest standards of quality and safety. Ingredients, such as cocoa butter, sugar, and milk, play a crucial role in the chocolate-making process. The use of sustainable and ethically sourced ingredients is becoming increasingly important for chocolate professionals, as consumers demand transparency and traceability in their chocolate products. Overall, the market is a dynamic and evolving industry, driven by the passion and creativity of chocolate professionals and the unwavering love for chocolate among consumers. Despite the challenges, the market offers immense opportunities for innovation and growth.

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

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The market is a thriving industry, fueled by the passion and dedication of both chocolate professionals and chocolate lovers alike. At the heart of this industry lies the humble cocoa bean, the primary ingredient that gives chocolate its unique and beloved flavor. Cocoa beans are sourced from various regions around the world, each boasting its unique terroir. Terroir refers to the environmental conditions in which the cocoa beans are grown, including soil type, climate, and rainfall, which all contribute to the distinct flavor profile of the resulting chocolate. Once harvested, the cocoa beans undergo several processes to transform them into the chocolate we know and love. The first step is fermentation, during which the beans are left to ferment in heaps for several days. This process develops the complex flavors and aromas of the beans. Next, the beans are roasted at specific temperatures to bring out the chocolatey flavors and to develop the desired color. The roasting process also affects the bitterness and acidity levels of the chocolate. Conching is the next step, during which the chocolate is mixed and aerated for hours or even days. This process refines the texture and enhances the flavor of the chocolate.
Real chocolate is made using a chocolate formula that includes cocoa liquor, cocoa butter, sugar, and sometimes other ingredients such as spices, vanilla, and milk powder or cream powder. Cocoa liquor is the purest form of chocolate, made by pressing cocoa beans to extract the cocoa butter and leaving behind a thick, chocolatey paste. Unsweetened chocolate, also known as baking chocolate, is made primarily from cocoa liquor. Bittersweet and semisweet chocolate contain varying percentages of cocoa liquor, with the percentage indicating the amount of chocolate solids in the chocolate. Dark chocolate, which contains a higher percentage of cocoa liquor, has a more intense chocolate flavor, while milk chocolate contains milk powder or cream powder, which adds sweetness and a smoother texture. Forastero is the most commonly used cocoa bean variety, accounting for over 70% of global production. It is known for its strong, full-bodied flavor and is used to make a wide range of chocolate types, from dark to milk chocolate.

How is this market segmented and which is the largest segment?

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

Application

  Food products
  Beverage products


Geography

  Europe

    Germany
    UK
    France


  North America

    Canada
    US


  APAC



  South America



  Middle East and Africa

By Application Insights

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

The chocolate flavor is a coveted addition to numerous food products, including bakery items, confectioneries, dairy products, and frozen delicacies. As a sought-after flavor enhancer, chocolate is extensively utilized in bakeries. Chocolate extracts, derived from essential oils or raw cocoa distillates, are co

Get the latest insights on price movement and trend analysis of Cocoa in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Report Features	Details
Product Name	Cocoa
Synonyms	Cacao, Cocoa bean, Chocolate bean
HS Code	18010000
Industrial Uses	Chocolate Production, Baking and Confectionery,Beverages, Cosmetics, Pharmaceuticals, Nutraceuticals
Supplier Database	Cargill Incorporated, Cocoa Processing Company Limited (CPC), ECOM Agroindustrial Corp. Limited, PRONATEC AG, Blommer Chocolate Company, Tradin Organic Agriculture B.V.
Region/Countries Covered	Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, Australia, and New Zealand Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece North America: United States and Canada Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru Africa: South Africa, Nigeria, Egypt, Algeria, Morocco
Currency	US$ (Data can also be provided in local currency)
Supplier Database Availability	Yes
Customization Scope	The report can be customized as per the requirements of the customer
Post-Sale Analyst Support	360-degree analyst support after report delivery

The global cocoa mass market is projected to expand at a CAGR of XX% during the forecast period (2023-2030). The market is valued at XXX million in 2023 and is expected to reach XXX million by 2030. Cocoa mass, a versatile and rich ingredient, is widely used in the production of chocolate, confectionery, and bakery products. Growing demand for premium chocolate and confectionery items, coupled with increased awareness of the health benefits associated with cocoa, is driving the market growth. The market is also fueled by the rising disposable income and changing consumer preferences in emerging economies. Major players in the cocoa mass market include Cargill, Olam International, Barry Callebaut, SunOpta, Blommer, Niche Cocoa Industry Ltd, Ciranda, United Cocoa Processor, JB Cocoa, Cofina Cocoa, and Altınmarka. These companies are engaged in product innovation, expansion, and strategic partnerships to strengthen their market presence. The market is also influenced by factors such as fluctuating cocoa bean prices, weather conditions, and geopolitical issues in cocoa-producing regions.

The Cocoa Value Chain Industry size was valued at USD 14.70 Million in 2023 and is projected to reach USD 17.24 Million by 2032, exhibiting a CAGR of 2.30 % during the forecast periods. The cocoa value chain industry encompasses the journey of cocoa from cultivation to end products like chocolate. Key features include the cultivation of cocoa beans in tropical regions, primary processing (fermentation and drying), secondary processing (grinding and pressing), and manufacturing of final products. Applications range from confectionery to cosmetics and pharmaceuticals. Industry types cover smallholder farms to large plantations, cooperatives, and multinational corporations. Technological advancements have improved yield, quality, and sustainability, such as precision farming and fermentation techniques. The industry's impact is significant in economic, social, and environmental dimensions, promoting rural development and trade. Advantages include job creation, poverty alleviation, and the promotion of fair-trade practices. Recent developments include: October 2022: A wholly-owned Ghanaian company, Niche Cocoa Industry, has collaborated with Omanhene Cocoa Bean Co., of Milwaukee, in a leased 44,000-square-foot cocoa processing plant in the Franklin Business Park, United States. It is the first United States facility for Niche, in which the largest cocoa processor in Ghana has entered the United States to strengthen the cocoa food and beverage industry., September 2022: Pronatec Swiss has become the country's first 100% organic cocoa processing plant by completing its test phase and is gearing up production. Pronatec is an organic production plant that processes about 15,000 metric tons of organic cocoa annually., March 2022: Ivory Coast publicized its initiative to launch a pilot project to trace cocoa beans from farm to market, aiming to tackle deforestation and child labor issues. This new system would allow manufacturers and consumers to know cocoa beans'' origin and production conditions., November 2021: Cargill completed a USD 100 million expansion of its cocoa processing facilities in Yopougon, Coted'Ivoiree. This move adds significant volumes to the company's cocoa-grinding capacity.. Key drivers for this market are: Rising Demand for Milled and Broken Rice, Growing Preference for Speciality Rice Variety; Government Initiatives Supports Rice Production. Potential restraints include: Lack of Supply Chain for Rice, Growing Agricultural Labor Crisis. Notable trends are: Sustainable Sourcing to Improve Economies for Stakeholders.

The global cacao market is a dynamic and expanding sector, projected to experience significant growth over the coming years. While precise figures for market size and CAGR are not provided, industry analyses suggest a substantial market value, possibly exceeding $10 billion in 2025, given the scale of companies involved and the widespread consumption of chocolate and cocoa products globally. The market's growth is driven by several key factors: increasing consumer demand for chocolate confectionery and cocoa-based beverages in both developed and emerging economies; rising disposable incomes, particularly in Asia-Pacific regions; and the expanding applications of cacao in various food and beverage products, including health and wellness segments. Further fueling growth are ongoing innovations in cacao processing, leading to new product formats and improved taste and texture. However, the market also faces challenges, such as price volatility in raw cacao beans due to climate change and supply chain disruptions, as well as increasing competition among major players. The market segmentation by application (business, family, other) and type (particles, powder) reflects the diverse utilization of cacao products across various sectors. The significant presence of major players like Archer Daniels Midland, Barry Callebaut, and Cargill points to a highly competitive landscape, where strategic partnerships, product diversification, and efficient supply chain management are crucial for success. The regional distribution of the cacao market is geographically diverse, with North America and Europe currently holding substantial market shares, driven by high per capita chocolate consumption. However, the Asia-Pacific region shows immense growth potential due to its rapidly expanding middle class and increasing chocolate consumption. South America, being a major producer of cacao beans, also holds a significant position within the global market. Future growth will hinge on effective management of supply chain sustainability, ethical sourcing practices to address consumer concerns about deforestation and labor standards, and the development of innovative, healthier cacao-based products. Further research and development to improve crop yields and resilience to climate change will also be critical to supporting the long-term stability and growth of the cacao industry.

Asia Pacific Cocoa Beans market size is USD 3177.27 million in 2024 and will expand at a compound annual growth rate (CAGR) of 9.0% from 2024 to 2031.

Cocoa and Chocolate Market Valuation – 2024-2031

Cocoa And Chocolate Market was valued at USD 50.06 Billion in 2024 and is projected to reach USD 81 Billion by 2031, growing at a CAGR of 6.20% from 2024 to 2031.

Cocoa and Chocolate Market Drivers

Growing Global Demand: Rising disposable incomes, particularly in emerging markets, have led to increased consumption of chocolate and cocoa products.

Health Benefits: Research highlighting the potential health benefits of cocoa, such as reducing the risk of heart disease and stroke, has boosted consumer interest.

Premiumization: Consumers are increasingly seeking premium and artisanal chocolate products with unique flavors and higher quality ingredients.

Cocoa and Chocolate Market Restraints

Price Fluctuations: The price of cocoa beans can be volatile, affecting the profitability of chocolate manufacturers and retailers.

Sustainability Concerns: The environmental and social impacts of cocoa production, particularly in West Africa, have raised concerns among consumers and regulators.