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 global Cocoa market was valued at US$ 15940 million in 2023 and is anticipated to reach US$ 19480 million by 2030, witnessing a CAGR of 2.9% during the forecast period 2024-2030.
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’s 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’s total consumption volume. This dominance is driven by several factors. First, Europe’s 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’s cocoa consumption. The presence of well-established chocolate brands and a strong tradition of chocolate-making has solidified Europe’s 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.
This report aims to provide a comprehensive presentation of the global market for Cocoa, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Cocoa.
The Cocoa market size, estimations, and forecasts are provided in terms of sales volume (K MT) and revenue ($ millions), considering 2023 as the base year, with history and forecast data for the period from 2019 to 2030. This report segments the global Cocoa market comprehensively. Regional market sizes, concerning products by Type, by Application, and by players, are also provided.
For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.
The report will help the Cocoa manufacturers, new entrants, and industry chain related companies in this market with information on the revenues, sales volume, and average price for the overall market and the sub-segments across the different segments, by company, by Type, by Application, and by regions.
Market Segmentation
By Company
Barry Callebaut
Cargill
Nestle SA
Mars
Hershey
Blommer (FUJI OIL)
Olam
Puratos
°äé³¾´Ç¾±
Irca
NATRA
Kerry Group
Ferrero
ECOM
Guan Chong
Mondelez
by Type
Cocoa Liquor
Cocoa Butter
Cocoa Powder
by Application
Confectionery
Food and Beverage
Cosmetics
Others
Production by Region
North America
Europe
Southeast Aisa
China
Japan
Consumption by Region
North America
U.S.
Canada
Asia-Pacific
China
Japan
South Korea
India
Australia
Taiwan
Indonesia
Thailand
Malaysia
Philippines
Vietnam
Europe
Germany
France
U.K.
Italy
Russia
Latin America
Mexico
Brazil
Argentina
Middle East & Africa
Turkey
Saudi Arabia
UAE
Chapter Outline
Chapter 1: Introduces the report scope of the report, executive summary of different market segments (by region, by Type, by Application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.
Chapter 2: Detailed analysis of Cocoa manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 3: Sales, revenue of Cocoa in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and market size of each country in the world.
Chapter 4: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 5: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 6: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 7: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 8: Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 9: The main points and conclusions of the report.
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1 Cocoa Market Overview
1.1 Product Definition
1.2 Cocoa by Type
1.2.1 Global Cocoa Market Value Comparison by Type (2024-2030)
1.2.2 Cocoa Liquor
1.2.3 Cocoa Butter
1.2.4 Cocoa Powder
1.3 Cocoa by Application
1.3.1 Global Cocoa Market Value by Application (2024-2030)
1.3.2 Confectionery
1.3.3 Food and Beverage
1.3.4 Cosmetics
1.3.5 Others
1.4 Global Cocoa Market Size Estimates and Forecasts
1.4.1 Global Cocoa Revenue 2019-2030
1.4.2 Global Cocoa Sales 2019-2030
1.4.3 Global Cocoa Market Average Price (2019-2030)
1.5 Assumptions and Limitations
2 Cocoa Market Competition by Manufacturers
2.1 Global Cocoa Sales Market Share by Manufacturers (2019-2024)
2.2 Global Cocoa Revenue Market Share by Manufacturers (2019-2024)
2.3 Global Cocoa Average Price by Manufacturers (2019-2024)
2.4 Global Key Players of Cocoa, Industry Ranking, 2022 VS 2023 VS 2024
2.5 Global Key Manufacturers of Cocoa, Manufacturing Sites & Headquarters
2.6 Global Key Manufacturers of Cocoa, Product Type & Application
2.7 Global Key Manufacturers of Cocoa, Date of Enter into This Industry
2.8 Global Cocoa Market Competitive Situation and Trends
2.8.1 Global Cocoa Market Concentration Rate
2.8.2 The Global 5 and 10 Largest Cocoa Players Market Share by Revenue
2.8.3 Global Cocoa Market Share by Company Type (Tier 1, Tier 2, and Tier 3)
2.9 Manufacturers Mergers & Acquisitions, Expansion Plans
3 Global Cocoa Market Scenario by Region
3.1 Global Cocoa Market Size by Region: 2019 Versus 2023 Versus 2030
3.2 Global Cocoa Sales by Region: 2019-2030
3.2.1 Global Cocoa Sales by Region: 2019-2024
3.2.2 Global Cocoa Sales by Region: 2025-2030
3.3 Global Cocoa Revenue by Region: 2019-2030
3.3.1 Global Cocoa Revenue by Region: 2019-2024
3.3.2 Global Cocoa Revenue by Region: 2025-2030
3.4 North America Cocoa Market Facts & Figures by Country
3.4.1 North America Cocoa Market Size by Country: 2019 VS 2023 VS 2030
3.4.2 North America Cocoa Sales by Country (2019-2030)
3.4.3 North America Cocoa Revenue by Country (2019-2030)
3.4.4 U.S.
3.4.5 Canada
3.5 Europe Cocoa Market Facts & Figures by Country
3.5.1 Europe Cocoa Market Size by Country: 2019 VS 2023 VS 2030
3.5.2 Europe Cocoa Sales by Country (2019-2030)
3.5.3 Europe Cocoa Revenue by Country (2019-2030)
3.5.4 Germany
3.5.5 France
3.5.6 U.K.
3.5.7 Italy
3.5.8 Russia
3.6 Asia Pacific Cocoa Market Facts & Figures by Region
3.6.1 Asia Pacific Cocoa Market Size by Region: 2019 VS 2023 VS 2030
3.6.2 Asia Pacific Cocoa Sales by Region (2019-2030)
3.6.3 Asia Pacific Cocoa Revenue by Region (2019-2030)
3.6.4 China
3.6.5 Japan
3.6.6 South Korea
3.6.7 India
3.6.8 Australia
3.6.9 Taiwan
3.6.10 Indonesia
3.6.11 Thailand
3.6.12 Malaysia
3.6.13 Philippines
3.7 Latin America Cocoa Market Facts & Figures by Country
3.7.1 Latin America Cocoa Market Size by Country: 2019 VS 2023 VS 2030
3.7.2 Latin America Cocoa Sales by Country (2019-2030)
3.7.3 Latin America Cocoa Revenue by Country
3.7.4 Mexico
3.7.5 Brazil
3.7.6 Argentina
3.8 Middle East and Africa Cocoa Market Facts & Figures by Country
3.8.1 Middle East and Africa Cocoa Market Size by Country: 2019 VS 2023 VS 2030
3.8.2 Middle East and Africa Cocoa Sales by Country (2019-2030)
3.8.3 Middle East and Africa Cocoa Revenue by Country
3.8.4 Turkey
3.8.5 Saudi Arabia
3.8.6 UAE
4 Segment by Type
4.1 Global Cocoa Sales by Type (2019-2030)
4.1.1 Global Cocoa Sales by Type (2019-2024)
4.1.2 Global Cocoa Sales by Type (2025-2030)
4.1.3 Global Cocoa Sales Market Share by Type (2019-2030)
4.2 Global Cocoa Revenue by Type (2019-2030)
4.2.1 Global Cocoa Revenue by Type (2019-2024)
4.2.2 Global Cocoa Revenue by Type (2025-2030)
4.2.3 Global Cocoa Revenue Market Share by Type (2019-2030)
4.3 Global Cocoa Price by Type (2019-2030)
5 Segment by Application
5.1 Global Cocoa Sales by Application (2019-2030)
5.1.1 Global Cocoa Sales by Application (2019-2024)
5.1.2 Global Cocoa Sales by Application (2025-2030)
5.1.3 Global Cocoa Sales Market Share by Application (2019-2030)
5.2 Global Cocoa Revenue by Application (2019-2030)
5.2.1 Global Cocoa Revenue by Application (2019-2024)
5.2.2 Global Cocoa Revenue by Application (2025-2030)
5.2.3 Global Cocoa Revenue Market Share by Application (2019-2030)
5.3 Global Cocoa Price by Application (2019-2030)
6 Key Companies Profiled
6.1 Barry Callebaut
6.1.1 Barry Callebaut Company Information
6.1.2 Barry Callebaut Description and Business Overview
6.1.3 Barry Callebaut Cocoa Sales, Revenue and Gross Margin (2019-2024)
6.1.4 Barry Callebaut Cocoa Product Portfolio
6.1.5 Barry Callebaut Recent Developments/Updates
6.2 Cargill
6.2.1 Cargill Company Information
6.2.2 Cargill Description and Business Overview
6.2.3 Cargill Cocoa Sales, Revenue and Gross Margin (2019-2024)
6.2.4 Cargill Cocoa Product Portfolio
6.2.5 Cargill Recent Developments/Updates
6.3 Nestle SA
6.3.1 Nestle SA Company Information
6.3.2 Nestle SA Description and Business Overview
6.3.3 Nestle SA Cocoa Sales, Revenue and Gross Margin (2019-2024)
6.3.4 Nestle SA Cocoa Product Portfolio
6.3.5 Nestle SA Recent Developments/Updates
6.4 Mars
6.4.1 Mars Company Information
6.4.2 Mars Description and Business Overview
6.4.3 Mars Cocoa Sales, Revenue and Gross Margin (2019-2024)
6.4.4 Mars Cocoa Product Portfolio
6.4.5 Mars Recent Developments/Updates
6.5 Hershey
6.5.1 Hershey Company Information
6.5.2 Hershey Description and Business Overview
6.5.3 Hershey Cocoa Sales, Revenue and Gross Margin (2019-2024)
6.5.4 Hershey Cocoa Product Portfolio
6.5.5 Hershey Recent Developments/Updates
6.6 Blommer (FUJI OIL)
6.6.1 Blommer (FUJI OIL) Company Information
6.6.2 Blommer (FUJI OIL) Description and Business Overview
6.6.3 Blommer (FUJI OIL) Cocoa Sales, Revenue and Gross Margin (2019-2024)
6.6.4 Blommer (FUJI OIL) Cocoa Product Portfolio
6.6.5 Blommer (FUJI OIL) Recent Developments/Updates
6.7 Olam
6.7.1 Olam Company Information
6.7.2 Olam Description and Business Overview
6.7.3 Olam Cocoa Sales, Revenue and Gross Margin (2019-2024)
6.7.4 Olam Cocoa Product Portfolio
6.7.5 Olam Recent Developments/Updates
6.8 Puratos
6.8.1 Puratos Company Information
6.8.2 Puratos Description and Business Overview
6.8.3 Puratos Cocoa Sales, Revenue and Gross Margin (2019-2024)
6.8.4 Puratos Cocoa Product Portfolio
6.8.5 Puratos Recent Developments/Updates
6.9 °äé³¾´Ç¾±
6.9.1 °äé³¾´Ç¾± Company Information
6.9.2 °äé³¾´Ç¾± Description and Business Overview
6.9.3 °äé³¾´Ç¾± Cocoa Sales, Revenue and Gross Margin (2019-2024)
6.9.4 °äé³¾´Ç¾± Cocoa Product Portfolio
6.9.5 °äé³¾´Ç¾± Recent Developments/Updates
6.10 Irca
6.10.1 Irca Company Information
6.10.2 Irca Description and Business Overview
6.10.3 Irca Cocoa Sales, Revenue and Gross Margin (2019-2024)
6.10.4 Irca Cocoa Product Portfolio
6.10.5 Irca Recent Developments/Updates
6.11 NATRA
6.11.1 NATRA Company Information
6.11.2 NATRA Description and Business Overview
6.11.3 NATRA Cocoa Sales, Revenue and Gross Margin (2019-2024)
6.11.4 NATRA Cocoa Product Portfolio
6.11.5 NATRA Recent Developments/Updates
6.12 Kerry Group
6.12.1 Kerry Group Company Information
6.12.2 Kerry Group Description and Business Overview
6.12.3 Kerry Group Cocoa Sales, Revenue and Gross Margin (2019-2024)
6.12.4 Kerry Group Cocoa Product Portfolio
6.12.5 Kerry Group Recent Developments/Updates
6.13 Ferrero
6.13.1 Ferrero Company Information
6.13.2 Ferrero Description and Business Overview
6.13.3 Ferrero Cocoa Sales, Revenue and Gross Margin (2019-2024)
6.13.4 Ferrero Cocoa Product Portfolio
6.13.5 Ferrero Recent Developments/Updates
6.14 ECOM
6.14.1 ECOM Company Information
6.14.2 ECOM Description and Business Overview
6.14.3 ECOM Cocoa Sales, Revenue and Gross Margin (2019-2024)
6.14.4 ECOM Cocoa Product Portfolio
6.14.5 ECOM Recent Developments/Updates
6.15 Guan Chong
6.15.1 Guan Chong Company Information
6.15.2 Guan Chong Description and Business Overview
6.15.3 Guan Chong Cocoa Sales, Revenue and Gross Margin (2019-2024)
6.15.4 Guan Chong Cocoa Product Portfolio
6.15.5 Guan Chong Recent Developments/Updates
6.16 Mondelez
6.16.1 Mondelez Company Information
6.16.2 Mondelez Description and Business Overview
6.16.3 Mondelez Cocoa Sales, Revenue and Gross Margin (2019-2024)
6.16.4 Mondelez Cocoa Product Portfolio
6.16.5 Mondelez Recent Developments/Updates
7 Industry Chain and Sales Channels Analysis
7.1 Cocoa Industry Chain Analysis
7.2 Cocoa Key Raw Materials
7.2.1 Key Raw Materials
7.2.2 Raw Materials Key Suppliers
7.3 Cocoa Production Mode & Process
7.4 Cocoa Sales and Marketing
7.4.1 Cocoa Sales Channels
7.4.2 Cocoa Distributors
7.5 Cocoa Customers
8 Cocoa Market Dynamics
8.1 Cocoa Industry Trends
8.2 Cocoa Market Drivers
8.3 Cocoa Market Challenges
8.4 Cocoa Market Restraints
9 Research Findings and Conclusion
10 Methodology and Data Source
10.1 Methodology/Research Approach
10.1.1 Research Programs/Design
10.1.2 Market Size Estimation
10.1.3 Market Breakdown and Data Triangulation
10.2 Data Source
10.2.1 Secondary Sources
10.2.2 Primary Sources
10.3 Author List
10.4 Disclaimer
Barry Callebaut
Cargill
Nestle SA
Mars
Hershey
Blommer (FUJI OIL)
Olam
Puratos
°äé³¾´Ç¾±
Irca
NATRA
Kerry Group
Ferrero
ECOM
Guan Chong
Mondelez
Ìý
Ìý
*If Applicable.