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.

In December 2022, the cocoa bean price was $2,761 per ton CIF Germany, roughly the same as the previous month.

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.

Ghana Export Price: Cocoa Products data was reported at 3,056.190 USD/Metric Ton in Mar 2018. This records an increase from the previous number of 3,039.200 USD/Metric Ton for Dec 2017. Ghana Export Price: Cocoa Products data is updated quarterly, averaging 3,320.610 USD/Metric Ton from Mar 2006 (Median) to Mar 2018, with 49 observations. The data reached an all-time high of 5,142.570 USD/Metric Ton in Dec 2009 and a record low of 1,618.770 USD/Metric Ton in Mar 2007. Ghana Export Price: Cocoa Products data remains active status in CEIC and is reported by Bank of Ghana. The data is categorized under Global Database’s Ghana – Table GH.P003: Export Price.

In October 2022, the cocoa bean price amounted to $2,550 per ton (CIF, Spain), falling by -3.5% against the previous month.

In June 2022, the cocoa powder price per tonamounted to $3,470 per ton, increasing by 4.6% against the previous month.

As of June 2024, cocoa in Brazil was traded at an average price of 807.4 Brazilian reals per 14.7 kilograms (one arroba*), a significant increase of over 270 percent in comparison to the same month of the previous year. In the indicated period, the price of cocoa in Brazil reached a peak in June 2024. Cocoa production in Brazil was forecasted to reach 220 thousand metric tons in crop year 2022/2023.

Ghana Export Price: Cocoa Beans data was reported at 2,225.320 USD/Metric Ton in Mar 2018. This records a decrease from the previous number of 2,318.970 USD/Metric Ton for Dec 2017. Ghana Export Price: Cocoa Beans data is updated quarterly, averaging 2,672.150 USD/Metric Ton from Mar 2006 (Median) to Mar 2018, with 49 observations. The data reached an all-time high of 3,370.400 USD/Metric Ton in Mar 2011 and a record low of 1,555.600 USD/Metric Ton in Sep 2006. Ghana Export Price: Cocoa Beans data remains active status in CEIC and is reported by Bank of Ghana. The data is categorized under Global Database’s Ghana – Table GH.P003: Export Price.

In 2023, approx. 21K tons of cocoa beans were imported into India; which is down by -39.5% against the previous year.

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.

For the period between October and December 2023, the price of marketed cocoa in Côte d'Ivoire was measured at 2,731 West African CFA francs (XOF) per kilogram. This corresponded to roughly 4.5 U.S. dollars per kilogram. The market prices of the farm product are set to increase in the first quarter of 2024, and then follow a gradual quarterly decreasing trend.

In March 2023, the cocoa butter price stood at $5,136 per ton (FOB, Netherlands), with an increase of 2.7% against the previous month.

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.

As of 2021, the price of cocoa in Ghana was projected at 2.4 U.S. dollars per kilogram. This price was forecast to reach 2.5 U.S. dollars per kilogram between 2022 and 2024. However, in 2025, it is expected that 2.6 U.S. dollars would be paid for every kilogram of cocoa purchased from Ghana. The country is a leading producer of cocoa worldwide.

In June 2023, the price of cocoa butter was $4,580 per ton (CIF, China), maintaining stability from the previous month.

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 May 2022, the cocoa butter price per ton amounted to $4,826 (CIF, US), remaining constant against the previous month.