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.

The closure of the HoReCa segment caused the demand for cocoa beans to collapse in 2020, while the production remained stable. This led to a surge in unsold cocoa bean stocks in exporter-countries. EU chocolate producers are now trying to enlist a range of measures to ensure stable demand and secure supply chains on the cocoa bean market.

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.

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.

In value terms, cocoa exports amounted to $43M in 2016. The total export value increased at an average annual rate of +3.0% over the period from 2007 to 2016, however, the trend pattern remained relat...

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.

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%

Global Cocoa market size 2025 was XX Million. Cocoa Industry compound annual growth rate (CAGR) will be XX% from 2025 till 2033.

The Asia-Pacific cocoa bean market contracted to $4.1B in 2024, waning by -2.6% against the previous year. The market value increased at an average annual rate of +2.6% from 2012 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $4.2B in 2023, and then fell in the following year.

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.

The EU cocoa bean market soared to $6.8B in 2024, surging by 37% against the previous year. The total consumption indicated buoyant growth from 2012 to 2024: its value increased at an average annual rate of +5.3% 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 +67.3% against 2022 indices.

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.

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 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

In 2024, after four years of growth, there was significant decline in the Russian cocoa bean market, when its value decreased by -27% to $62M. Over the period under review, consumption saw a noticeable reduction. As a result, consumption reached the peak level of $85M, and then dropped rapidly in the following year.

The Indian cocoa powder market rose notably to $749M in 2024, surging by 7.1% against the previous year. Over the period under review, consumption recorded buoyant growth. Over the period under review, the market hit record highs in 2024 and is expected to retain growth in years to come.

The Singaporean cocoa bean market rose to $250M in 2024, with an increase of 2.3% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price).

The revenue of the cocoa market in Grenada amounted to $X in 2018, going down by -X% against the previous year. Over the period under review, cocoa consumption continues to indicate an extraordinary increase. The pace of growth was the most pronounced in 2008 with an increase of X% y-o-y. Over the period under review, the cocoa market attained its maximum level at $X in 2013; however, from 2014 to 2018, consumption remained at a lower figure.

The cocoa bean market in the United Arab Emirates declined notably to $7.8M in 2024, dropping by -32% against the previous year. Overall, consumption saw a abrupt decrease. Over the period under review, the market attained the peak level at $30M in 2020; however, from 2021 to 2024, consumption stood at a somewhat lower figure.