The global Cocoa market size is predicted to grow from US$ 16010 million in 2025 to US$ 19180 million in 2031; it is expected to grow at a CAGR of 3.1% from 2025 to 2031.
The cocoa industry is a highly developed and mature sector focused on the production and processing of cocoa beans, which are the key ingredient in chocolate and various other products. Cocoa is derived from the seeds of the Theobroma cacao tree, primarily grown in tropical regions, especially in West Africa, Latin America, and parts of Southeast Asia. After harvesting, cocoa beans undergo a series of processing steps, including fermentation, drying, and roasting, to produce cocoa liquor, cocoa butter, and cocoa powder, which serve as the essential components in chocolate manufacturing.
The industry is divided into two broad categories: the open market, where companies purchase cocoa beans to produce cocoa products for sale to other manufacturers, and the captive market, where vertically integrated companies use cocoa primarily for their own chocolate production. Companies in this industry produce a range of products including raw cocoa, chocolate, and semi-finished cocoa products, which are supplied to food and beverage manufacturers, confectioneries, bakeries, and the cosmetics industry.
Market Overview
The cocoa and chocolate industry is highly competitive, with numerous well-established companies operating in both the open and captive markets. Barry Callebaut, a Swiss company, is the leader in the open market segment, holding the largest share of 20.25% of the global market. Barry Callebaut鈥檚 dominance stems from its wide-ranging production capabilities, which include supplying cocoa and chocolate products to food manufacturers worldwide. Cargill, an American agribusiness, is another major player in the open market, focusing on processing cocoa beans and supplying cocoa products to various industries.
In the captive market, where companies use cocoa for their own product lines, global giants like Nestle, Mars, and Hershey lead the industry. These companies control significant market shares by producing branded chocolate products for mass consumption. Their vertical integration enables them to manage the entire production process, from sourcing cocoa beans to producing finished chocolate goods, giving them a strong foothold in the global chocolate industry. This captive market strategy allows these companies to maintain control over their supply chains and manage product quality more effectively.
Market Trends and Regional Consumption Analysis
The global consumption of cocoa continues to experience steady growth, with an average annual growth rate of 2.36%. Europe stands out as the largest consumer of cocoa, accounting for 52.65% of the world鈥檚 total consumption volume. This dominance is driven by several factors. First, Europe鈥檚 proximity to major cocoa-producing regions in West Africa ensures a stable supply of cocoa beans. Additionally, European countries have access to advanced processing technologies and machinery, which facilitate efficient production of high-quality cocoa products. Moreover, Europe is home to some of the largest chocolate consumers globally, further fueling demand for cocoa.
The high demand for chocolate in Europe, especially in countries like Switzerland, Germany, and Belgium, plays a crucial role in driving the region鈥檚 cocoa consumption. The presence of well-established chocolate brands and a strong tradition of chocolate-making has solidified Europe鈥檚 position as a key player in the global cocoa market. North America is another significant consumer, driven by the popularity of chocolate and confectionery products, particularly in the United States. Asia-Pacific is an emerging market for cocoa, with rising disposable incomes and growing interest in Western confectionery, particularly in countries like China and India.
Despite the positive outlook, the cocoa industry faces several challenges, including fluctuations in cocoa bean prices, which can impact profitability for producers and manufacturers. Additionally, concerns about sustainable sourcing and ethical labor practices are increasingly influencing consumer preferences, pushing companies to adopt more transparent and responsible cocoa sourcing strategies. Nonetheless, with the growing global demand for chocolate products, the cocoa industry is expected to continue expanding, supported by technological advancements and efforts to create more sustainable supply chains.
The 鈥淐ocoa Industry Forecast鈥� looks at past sales and reviews total world Cocoa sales in 2024, providing a comprehensive analysis by region and market sector of projected Cocoa sales for 2025 through 2031. With Cocoa sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Cocoa industry.
This Insight Report provides a comprehensive analysis of the global Cocoa landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Cocoa portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms鈥� unique position in an accelerating global Cocoa market.
This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Cocoa and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Cocoa.
This report presents a comprehensive overview, market shares, and growth opportunities of Cocoa market by product type, application, key manufacturers and key regions and countries.
Segmentation by Type:
Cocoa Liquor
Cocoa Butter
Cocoa Powder
Segmentation by Application:
Confectionery
Food and Beverage
Cosmetics
Others
This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The below companies that are profiled have been selected based on inputs gathered from primary experts and analysing the company's coverage, product portfolio, its market penetration.
Barry Callebaut
Cargill
Nestle SA
Mars
Hershey
Blommer (FUJI OIL)
Olam
Puratos
颁茅尘辞颈
Irca
NATRA
Kerry Group
Ferrero
ECOM
Guan Chong
Mondelez
Key Questions Addressed in this Report
What is the 10-year outlook for the global Cocoa market?
What factors are driving Cocoa market growth, globally and by region?
Which technologies are poised for the fastest growth by market and region?
How do Cocoa market opportunities vary by end market size?
How does Cocoa break out by Type, by Application?
Please Note - This is an on demand report and will be delivered in 2 business days (48 hours) post payment.
1 Scope of the Report
1.1 Market Introduction
1.2 Years Considered
1.3 Research Objectives
1.4 Market Research Methodology
1.5 Research Process and Data Source
1.6 Economic Indicators
1.7 Currency Considered
1.8 Market Estimation Caveats
2 Executive Summary
2.1 World Market Overview
2.1.1 Global Cocoa Annual Sales 2020-2031
2.1.2 World Current & Future Analysis for Cocoa by Geographic Region, 2020, 2024 & 2031
2.1.3 World Current & Future Analysis for Cocoa by Country/Region, 2020, 2024 & 2031
2.2 Cocoa Segment by Type
2.2.1 Cocoa Liquor
2.2.2 Cocoa Butter
2.2.3 Cocoa Powder
2.3 Cocoa Sales by Type
2.3.1 Global Cocoa Sales Market Share by Type (2020-2025)
2.3.2 Global Cocoa Revenue and Market Share by Type (2020-2025)
2.3.3 Global Cocoa Sale Price by Type (2020-2025)
2.4 Cocoa Segment by Application
2.4.1 Confectionery
2.4.2 Food and Beverage
2.4.3 Cosmetics
2.4.4 Others
2.5 Cocoa Sales by Application
2.5.1 Global Cocoa Sale Market Share by Application (2020-2025)
2.5.2 Global Cocoa Revenue and Market Share by Application (2020-2025)
2.5.3 Global Cocoa Sale Price by Application (2020-2025)
3 Global by Company
3.1 Global Cocoa Breakdown Data by Company
3.1.1 Global Cocoa Annual Sales by Company (2020-2025)
3.1.2 Global Cocoa Sales Market Share by Company (2020-2025)
3.2 Global Cocoa Annual Revenue by Company (2020-2025)
3.2.1 Global Cocoa Revenue by Company (2020-2025)
3.2.2 Global Cocoa Revenue Market Share by Company (2020-2025)
3.3 Global Cocoa Sale Price by Company
3.4 Key Manufacturers Cocoa Producing Area Distribution, Sales Area, Product Type
3.4.1 Key Manufacturers Cocoa Product Location Distribution
3.4.2 Players Cocoa Products Offered
3.5 Market Concentration Rate Analysis
3.5.1 Competition Landscape Analysis
3.5.2 Concentration Ratio (CR3, CR5 and CR10) & (2023-2025)
3.6 New Products and Potential Entrants
3.7 Market M&A Activity & Strategy
4 World Historic Review for Cocoa by Geographic Region
4.1 World Historic Cocoa Market Size by Geographic Region (2020-2025)
4.1.1 Global Cocoa Annual Sales by Geographic Region (2020-2025)
4.1.2 Global Cocoa Annual Revenue by Geographic Region (2020-2025)
4.2 World Historic Cocoa Market Size by Country/Region (2020-2025)
4.2.1 Global Cocoa Annual Sales by Country/Region (2020-2025)
4.2.2 Global Cocoa Annual Revenue by Country/Region (2020-2025)
4.3 Americas Cocoa Sales Growth
4.4 APAC Cocoa Sales Growth
4.5 Europe Cocoa Sales Growth
4.6 Middle East & Africa Cocoa Sales Growth
5 Americas
5.1 Americas Cocoa Sales by Country
5.1.1 Americas Cocoa Sales by Country (2020-2025)
5.1.2 Americas Cocoa Revenue by Country (2020-2025)
5.2 Americas Cocoa Sales by Type (2020-2025)
5.3 Americas Cocoa Sales by Application (2020-2025)
5.4 United States
5.5 Canada
5.6 Mexico
5.7 Brazil
6 APAC
6.1 APAC Cocoa Sales by Region
6.1.1 APAC Cocoa Sales by Region (2020-2025)
6.1.2 APAC Cocoa Revenue by Region (2020-2025)
6.2 APAC Cocoa Sales by Type (2020-2025)
6.3 APAC Cocoa Sales by Application (2020-2025)
6.4 China
6.5 Japan
6.6 South Korea
6.7 Southeast Asia
6.8 India
6.9 Australia
6.10 China Taiwan
7 Europe
7.1 Europe Cocoa by Country
7.1.1 Europe Cocoa Sales by Country (2020-2025)
7.1.2 Europe Cocoa Revenue by Country (2020-2025)
7.2 Europe Cocoa Sales by Type (2020-2025)
7.3 Europe Cocoa Sales by Application (2020-2025)
7.4 Germany
7.5 France
7.6 UK
7.7 Italy
7.8 Russia
8 Middle East & Africa
8.1 Middle East & Africa Cocoa by Country
8.1.1 Middle East & Africa Cocoa Sales by Country (2020-2025)
8.1.2 Middle East & Africa Cocoa Revenue by Country (2020-2025)
8.2 Middle East & Africa Cocoa Sales by Type (2020-2025)
8.3 Middle East & Africa Cocoa Sales by Application (2020-2025)
8.4 Egypt
8.5 South Africa
8.6 Israel
8.7 Turkey
8.8 GCC Countries
9 Market Drivers, Challenges and Trends
9.1 Market Drivers & Growth Opportunities
9.2 Market Challenges & Risks
9.3 Industry Trends
10 Manufacturing Cost Structure Analysis
10.1 Raw Material and Suppliers
10.2 Manufacturing Cost Structure Analysis of Cocoa
10.3 Manufacturing Process Analysis of Cocoa
10.4 Industry Chain Structure of Cocoa
11 Marketing, Distributors and Customer
11.1 Sales Channel
11.1.1 Direct Channels
11.1.2 Indirect Channels
11.2 Cocoa Distributors
11.3 Cocoa Customer
12 World Forecast Review for Cocoa by Geographic Region
12.1 Global Cocoa Market Size Forecast by Region
12.1.1 Global Cocoa Forecast by Region (2026-2031)
12.1.2 Global Cocoa Annual Revenue Forecast by Region (2026-2031)
12.2 Americas Forecast by Country (2026-2031)
12.3 APAC Forecast by Region (2026-2031)
12.4 Europe Forecast by Country (2026-2031)
12.5 Middle East & Africa Forecast by Country (2026-2031)
12.6 Global Cocoa Forecast by Type (2026-2031)
12.7 Global Cocoa Forecast by Application (2026-2031)
13 Key Players Analysis
13.1 Barry Callebaut
13.1.1 Barry Callebaut Company Information
13.1.2 Barry Callebaut Cocoa Product Portfolios and Specifications
13.1.3 Barry Callebaut Cocoa Sales, Revenue, Price and Gross Margin (2020-2025)
13.1.4 Barry Callebaut Main Business Overview
13.1.5 Barry Callebaut Latest Developments
13.2 Cargill
13.2.1 Cargill Company Information
13.2.2 Cargill Cocoa Product Portfolios and Specifications
13.2.3 Cargill Cocoa Sales, Revenue, Price and Gross Margin (2020-2025)
13.2.4 Cargill Main Business Overview
13.2.5 Cargill Latest Developments
13.3 Nestle SA
13.3.1 Nestle SA Company Information
13.3.2 Nestle SA Cocoa Product Portfolios and Specifications
13.3.3 Nestle SA Cocoa Sales, Revenue, Price and Gross Margin (2020-2025)
13.3.4 Nestle SA Main Business Overview
13.3.5 Nestle SA Latest Developments
13.4 Mars
13.4.1 Mars Company Information
13.4.2 Mars Cocoa Product Portfolios and Specifications
13.4.3 Mars Cocoa Sales, Revenue, Price and Gross Margin (2020-2025)
13.4.4 Mars Main Business Overview
13.4.5 Mars Latest Developments
13.5 Hershey
13.5.1 Hershey Company Information
13.5.2 Hershey Cocoa Product Portfolios and Specifications
13.5.3 Hershey Cocoa Sales, Revenue, Price and Gross Margin (2020-2025)
13.5.4 Hershey Main Business Overview
13.5.5 Hershey Latest Developments
13.6 Blommer (FUJI OIL)
13.6.1 Blommer (FUJI OIL) Company Information
13.6.2 Blommer (FUJI OIL) Cocoa Product Portfolios and Specifications
13.6.3 Blommer (FUJI OIL) Cocoa Sales, Revenue, Price and Gross Margin (2020-2025)
13.6.4 Blommer (FUJI OIL) Main Business Overview
13.6.5 Blommer (FUJI OIL) Latest Developments
13.7 Olam
13.7.1 Olam Company Information
13.7.2 Olam Cocoa Product Portfolios and Specifications
13.7.3 Olam Cocoa Sales, Revenue, Price and Gross Margin (2020-2025)
13.7.4 Olam Main Business Overview
13.7.5 Olam Latest Developments
13.8 Puratos
13.8.1 Puratos Company Information
13.8.2 Puratos Cocoa Product Portfolios and Specifications
13.8.3 Puratos Cocoa Sales, Revenue, Price and Gross Margin (2020-2025)
13.8.4 Puratos Main Business Overview
13.8.5 Puratos Latest Developments
13.9 颁茅尘辞颈
13.9.1 颁茅尘辞颈 Company Information
13.9.2 颁茅尘辞颈 Cocoa Product Portfolios and Specifications
13.9.3 颁茅尘辞颈 Cocoa Sales, Revenue, Price and Gross Margin (2020-2025)
13.9.4 颁茅尘辞颈 Main Business Overview
13.9.5 颁茅尘辞颈 Latest Developments
13.10 Irca
13.10.1 Irca Company Information
13.10.2 Irca Cocoa Product Portfolios and Specifications
13.10.3 Irca Cocoa Sales, Revenue, Price and Gross Margin (2020-2025)
13.10.4 Irca Main Business Overview
13.10.5 Irca Latest Developments
13.11 NATRA
13.11.1 NATRA Company Information
13.11.2 NATRA Cocoa Product Portfolios and Specifications
13.11.3 NATRA Cocoa Sales, Revenue, Price and Gross Margin (2020-2025)
13.11.4 NATRA Main Business Overview
13.11.5 NATRA Latest Developments
13.12 Kerry Group
13.12.1 Kerry Group Company Information
13.12.2 Kerry Group Cocoa Product Portfolios and Specifications
13.12.3 Kerry Group Cocoa Sales, Revenue, Price and Gross Margin (2020-2025)
13.12.4 Kerry Group Main Business Overview
13.12.5 Kerry Group Latest Developments
13.13 Ferrero
13.13.1 Ferrero Company Information
13.13.2 Ferrero Cocoa Product Portfolios and Specifications
13.13.3 Ferrero Cocoa Sales, Revenue, Price and Gross Margin (2020-2025)
13.13.4 Ferrero Main Business Overview
13.13.5 Ferrero Latest Developments
13.14 ECOM
13.14.1 ECOM Company Information
13.14.2 ECOM Cocoa Product Portfolios and Specifications
13.14.3 ECOM Cocoa Sales, Revenue, Price and Gross Margin (2020-2025)
13.14.4 ECOM Main Business Overview
13.14.5 ECOM Latest Developments
13.15 Guan Chong
13.15.1 Guan Chong Company Information
13.15.2 Guan Chong Cocoa Product Portfolios and Specifications
13.15.3 Guan Chong Cocoa Sales, Revenue, Price and Gross Margin (2020-2025)
13.15.4 Guan Chong Main Business Overview
13.15.5 Guan Chong Latest Developments
13.16 Mondelez
13.16.1 Mondelez Company Information
13.16.2 Mondelez Cocoa Product Portfolios and Specifications
13.16.3 Mondelez Cocoa Sales, Revenue, Price and Gross Margin (2020-2025)
13.16.4 Mondelez Main Business Overview
13.16.5 Mondelez Latest Developments
14 Research Findings and Conclusion
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*If Applicable.