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.

This statistic shows the worldwide cocoa price from 2008 to 2023 in U.S. dollars per metric kilogram. In the 2023, the price per kilogram of cocoa was 3.28 U.S. dollars.

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.

The price of cocoa beans in the international market is influenced by various factors including supply and demand dynamics, weather conditions, government policies, and economic factors. This article explores the impact of these factors on cocoa prices and highlights the importance of tracking and understanding them for market participants and stakeholders in the cocoa industry.

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.

Learn about the factors that can affect cocoa dry bean prices per kg, including supply and demand, quality, origin, and market conditions. Understand how weather conditions, production levels, and currency exchange rates can influence cocoa prices. Discover the impact of disruptions in supply, extreme weather, bean quality, and currency fluctuations on cocoa prices. Stay informed about the dynamics of the cocoa market and make informed decisions as a cocoa farmer, trader, or chocolate manufacturer.

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 price of cocoa butter in the United States for 2023 reached 5691 USD/MT. The price of cocoa butter in Germany for 2023 reached 5871 USD/MT.

Explore IMARC’s newly published report, titled “Cocoa Butter Pricing Report 2025: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” offers an in-depth analysis of cocoa butter pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

In 2024, the global cocoa butter market increased by 38% to $13B, rising for the second consecutive year after two years of decline. In general, the total consumption indicated a prominent increase from 2012 to 2024: its value increased at an average annual rate of +6.3% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, consumption increased by +44.4% against 2022 indices.

Dataset include total cocoa exports and production in Ghana and world averages, world cocoa prices, gross domestic product growth rate in Ghana and real exchange rate in Ghana. The objective of the research is to measure the impact of cocoa rehabilitation project on cocoa export performance in Ghana. Data used is time series.

According to Cognitive Market Research, the global Cacao market size will be USD 13651.6 million in 2024. It will expand at a compound annual growth rate (CAGR) of 7.20% from 2024 to 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD 5460.6 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.4% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 4095.4 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 3139.8 million in 2024 and will grow at a compound annual growth rate (CAGR) of 9.2% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 682.58 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.6% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 273.03 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.9% from 2024 to 2031.
The Beans category is the fastest growing segment of the Cacao industry

Market Dynamics of Cacao Market

Key Drivers for Cacao Market

Growth in Chocolate Consumption to Boost Market Growth

Chocolate continues to be one of the most beloved indulgent treats worldwide, with a growing demand for high-quality options, particularly premium and organic varieties, driving cacao consumption. Consumers are increasingly choosing chocolates with higher cocoa content, attracted by their perceived health benefits, including antioxidants and other nutrients. Switzerland leads the world in chocolate consumption per capita, with the average person consuming around 8.8 kg (22 lbs) of chocolate annually. Austria follows closely, with each person consuming about 9 kg (20 lbs) of chocolate per year. The United States ranks among the top 10 chocolate-consuming nations, with an average annual consumption of approximately 4.5 kg per person. The rising popularity of artisanal, craft, and organic chocolates, which demand superior quality cacao, is a growing trend not only in established markets like Europe and North America but also in emerging markets such as Asia and Latin America.

Growing Use of Cacao in Non-Chocolate Products to Drive Market Growth

Cacao's usage is extending beyond traditional chocolate products into a variety of other food segments. In the 2022/2023 cocoa season, approximately 5 million tonnes of cocoa were produced globally. The two largest producers, Côte d'Ivoire and Ghana, together account for 50% of the world's cocoa supply, followed by Ecuador with 9%. In Asia, Indonesia is the leading producer. Cocoa production has been steadily increasing over the last 40 years, with up to 95% of cocoa beans traded on international commodity markets. Cacao is increasingly incorporated into health and wellness products, including protein bars, energy drinks, smoothies, and baked goods. Its potential health benefits, coupled with the growing demand for natural and clean-label ingredients, are driving its broader adoption in the food industry.

Restraint Factor for the Cacao Market

Climate Change and Environmental Impact Will Limit Market Growth

Cacao is a highly climate-sensitive crop. It thrives in tropical regions with specific temperature and rainfall conditions. However, changing climate patterns, such as rising temperatures, altered rainfall patterns, and the increasing frequency of extreme weather events (e.g., droughts, floods, and storms), threaten cacao production. Cacao farming can contribute to deforestation, especially in regions like West Africa and South America, where forests are cleared to make way for new plantations. This not only disrupts biodiversity but also leads to soil degradation, reducing the land's ability to support cacao cultivation in the long term. These environmental issues can impact supply, increase production costs, and affect market stability. Cacao crops are vulnerable to several diseases, including black pod disease, cacao swollen shoot virus (CSSV), and frosty pod rot. These diseases can devastate cacao yields and quality, leading to significant losses for farmers and supply shortages in the market.

Impact of Covid-19 on the Cacao Market

The economic uncertainty caused by the pandemic led to a decline...

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 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

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.

In 2024, the Nigerien cocoa bean market increased by 271% to $566M, rising for the second consecutive year after two years of decline. Overall, consumption, however, recorded a drastic downturn. Cocoa bean consumption peaked at $1.3B in 2020; however, from 2021 to 2024, consumption stood at a somewhat lower figure.

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 Drivers

Growing 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.

The value of cocoa and cocoa products exported from Peru in 2019 amounted to 291 million U.S. dollars, down from 265 million U.S. dollars recorded in 2018. In that year, the average world price of cocoa attained a value of 2.34 U.S. dollars per kilogram.

Credit report of C C T International Cocoa And Com Modities Trading International Sa Dr 21110535 Ot 5029 contains unique and detailed export import market intelligence with it's phone, email, Linkedin and details of each import and export shipment like product, quantity, price, buyer, supplier names, country and date of shipment.

The global Chocolate Cocoa Beans Lecithin Sugar & Vanilla Market is estimated to grow at a CAGR of 2.62% from 2025 to 2033, reaching a value of USD 95.04 billion by 2033. The market is driven by factors such as rising demand for chocolate and cocoa products, increasing health consciousness, and growing popularity of premium chocolates. However, the market is restrained by factors such as high production costs and volatile prices of cocoa beans. The cocoa bean type segment is dominated by the Forastero type, which accounts for over 80% of the global cocoa production. The product form segment is dominated by the powder form, which is used in a wide range of applications, including confectionery, beverages, and bakery products. The additive type segment is dominated by lecithin, which is used as an emulsifier and stabilizer in chocolate products. The end user industry segment is dominated by the confectionery industry, which accounts for over 50% of the global chocolate consumption. The processing method segment is dominated by the fermentation process, which is essential for developing the characteristic flavor of chocolate. The regionData segment is dominated by Europe, which accounts for over 40% of the global chocolate consumption. Concentration: The Chocolate Cocoa Beans Lecithin Sugar & Vanilla Market is highly concentrated, with a few major players dominating the market share. These key players include Hershey, Barry Callebaut, and Mondelez International. These companies have a strong global presence and a wide range of products, which gives them a competitive advantage over smaller players. Characteristics: The Chocolate Cocoa Beans Lecithin Sugar & Vanilla Market is characterized by the following:

Innovation: The market is driven by innovation, with new products and technologies being introduced regularly. This innovation is focused on meeting the changing needs of consumers, such as the demand for healthier and more sustainable products. Impact of regulations: The market is heavily regulated, with regulations governing the production, processing, and sale of chocolate products. These regulations help ensure the safety and quality of chocolate products. Product substitutes: The market faces competition from other products, such as candy, cookies, and ice cream. These products can be substituted for chocolate products, which can limit the growth of the market. End-user concentration: The market is concentrated in a few end-user industries, such as the confectionery, bakery, and beverages industries. These industries account for a large share of the demand for chocolate products. Level of M&A: The market has seen a number of mergers and acquisitions in recent years. This consolidation has led to the creation of larger, more competitive companies. Recent developments include: , In recent months, the Chocolate Cocoa Beans, Lecithin, Sugar, and Vanilla Market has witnessed notable developments that reflect changing consumer preferences and sustainability concerns. Major chocolate manufacturers are increasingly investing in sustainable sourcing of cocoa and vanilla to meet rising demand for ethically produced products. This shift is driven by growing awareness among consumers about environmental and social issues related to traditional farming practices. Furthermore, innovations in product formulations, such as the introduction of plant-based alternatives and sugar reduction technologies, are becoming prevalent as health-conscious consumers seek indulgent yet healthier options. The market is also adapting to supply chain challenges that arose during the pandemic, prompting companies to enhance their logistics and inventory management strategies. Additionally, strategic partnerships and acquisitions among key players are fostering competitive advantages and expanding market reach. As the industry navigates these changes, the overall market valuation is projected to grow, with a focus on capturing emerging trends and catering to evolving consumer demands.. Key drivers for this market are: Increased demand for premium chocolates Growth of vegan and dairy-free products Expanding ecommerce chocolate sales Innovation in sustainable sourcing practices Rising consumer interest in artisan flavors. Potential restraints include: sustainable sourcing trends, increasing health consciousness; rising demand for premium products; fluctuating raw material prices; growing vegan and organic segments.