Global cocoa market is expected to reach USD 19.59 Bn by 2032, from USD 14.01 Bn in 2025, exhibiting a compound annual growth rate (CAGR) of 4.9% during the forecast period.
The Cocoa or cocoa beans is the seed of the Theobroma cacao (cacao tree), a tropical plant originally belonging to the equatorial regions of Americas. Cocoa beans are the dried and fermented seed of cacao tree, from which cocoa beans liquor is produced. From these cocoa beans liquor, cocoa beans butter and cocoa beans powder is produced. Cocoa beans liquor is the main raw material for manufacturing chocolates.
The cocoa beans products such as cocoa beans liquor, cocoa beans butter, and cocoa beans powder are widely used for making confections, used as flavoring in beverages, used as toppings in different foods, and used as fillings in bakery. The cocoa beans are also used in cosmetics, healthcare, pharmaceuticals and nutraceuticals industry as flavoring and coloring agents. Cocoa beans are also used to manufacture toiletries because of its aroma and flavor. The wide and growing application of cocoa beans in different industries can drive the global Cocoa market growth during the forecast period.
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Current Event |
Description and its Impact |
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West African Political Instability and Security Concerns |
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Sustainable Cocoa Initiatives and Regulatory Changes |
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Category |
Leading Countries |
Share/Value (2025) |
Notes |
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Top Exporters |
Ivory Coast, Ghana, Nigeria, Cameroon, Brazil, Ecuador |
~60% from West Africa |
Ivory Coast alone supplies ~40% of global cocoa beans. |
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Top Importers |
Netherlands, Germany, U.S., France, China, India |
Europe >50% of imports |
Europe dominates cocoa grindings for chocolate manufacturing. |
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Global Production |
West Africa, Latin America, Asia |
4.368 million tonnes (↓12.9%) |
Decline due to climate change, pests, and aging trees. |
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Global Grindings |
Europe, North America, Asia-Pacific |
4.818 million tonnes (↓4.8%) |
Reflects lower processing demand amid supply shortages. |
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Supply Deficit |
Global |
494,000 tonnes |
Tight market conditions, widening deficit compared to previous years. |
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U.S. Cocoa & Chocolate Exports |
Canada, Mexico, Vietnam |
$2.41 billion (2024) |
Strong demand for premium chocolate and cocoa derivatives. |
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In terms of nature, the conventional segment is expected to lead with the largest share of the market in 2025, due to large-scale production, affordability, and widespread use in confectionery and beverages. Organic cocoa is expanding steadily, driven by consumer demand for ethical sourcing and healthier options, but limited supply and higher costs prevent it from surpassing conventional in overall market share.
In terms of process, the Dutch segment is expected to hold the highest share of the market in 2025, favored for its milder flavor, darker color, and better solubility in beverages and bakery products. Natural cocoa remains popular among home bakers and niche health-conscious consumers, but industrial demand for Dutch cocoa ensures it maintains the largest share of the global market.
In terms of product type, the powder segment is projected to account for the 43.5% share of the market in 2025, due to its versatility in confectionery, bakery, and beverage industries. Cocoa butter is vital for cosmetics and premium chocolates, while cocoa liquor grows steadily, but neither surpasses powder’s widespread applications and cost-effectiveness across multiple consumer and industrial uses.
For instance, in May 2025, Döhler launched with a full solution to replace cocoa powder that deals with rising costs, supply shortages, and problems with sustainability. The new product tastes, looks, and works like cocoa powder, giving manufacturers a reliable option for use in baked goods, candy, and drinks. It also makes them less reliant on unstable cocoa markets and supply chains that are sensitive to climate change.
In terms of application, the confectionery segment is projected to capture the greatest share of the market in 2025, driven by global chocolate consumption. Bakery and beverages follow as strong secondary uses, while cosmetics represent a niche but growing segment due to cocoa butter’s skincare benefits. Confectionery’s dominance reflects enduring consumer preference for indulgent chocolate-based products worldwide.
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Europe is expected to be the largest market for the cocoa beans. It accounted for 43% of the market share in 2025. The market growth in Europe can be attributed to increasing demand for cocoa beans in countries such as France, Germany, the Netherlands, and Russia.
For instance, in November 2025, CSM Ingredients made Nuare, a line of cocoa substitutes for baking and ice cream. The substitutes taste, look, and work like cocoa while also dealing with rising costs, supply shortages, and sustainability issues. Nuare gives manufacturers creative freedom and makes them less dependent on regular cocoa. This helps food production be more innovative and resilient.
Asia Pacific accounted for 27% of the market share in 2025. The market growth in Asia Pacific can be attributed to rising consumption of chocolates in countries such as India and China, and the increasing emphasis on producing high-quality cocoa beans in the region.
For instance, in August 2025, Prefer, a startup based in Singapore, raised more money than it needed in a Pre-A funding round of US$4.2 million. It also launched soluble coffee and cocoa powders. The new idea adds more environmentally friendly drink choices that are easy to use and useful. Investor confidence shows that demand for cocoa-based products is growing, which supports Prefer's plans to increase production and expand its presence in Asia.
In 2025, Germany's cocoa market is expected to be strong because people want high-quality chocolate, there are sustainability efforts, and there is a strong industrial base. The growth is driven by ethical sourcing, new cocoa products, and a growing demand for high-quality candy in both retail and foodservice.
For instance, in May 2025, Kaufland Germany and Planet A Foods worked together to make Choviva, a chocolate substitute that does not contain cocoa. The product tastes and feels like regular chocolate, but it is better for the environment and solves problems like rising cocoa prices and short supplies. This new idea shows that there is a growing need for cocoa substitutes in candy, which means that we don't have to rely as much on traditional cocoa farming and production.
The demand for cocoa in China in 2025 is expected to be driven by rising middle-class incomes, more people moving to cities, and more people eating chocolate. Younger people are drawn to high-end and new candy products, while the bakery and beverage industries are growing quickly. Cocoa is even more important because of worries about sustainability and the fact that global supply is always changing. China is one of the fastest-growing markets for cocoa.
For instance, in November 2025, Samoa, the FAO, and China worked together to improve the cocoa value chain by focusing on production, quality, and access to markets. The initiative helps farmers make a living, encourages sustainability, and boosts economic growth in rural areas. The goal of the partnership is to improve Samoa's agricultural sector and make its cocoa more competitive on the world stage by raising the standards and capacity of cocoa.
| Report Coverage | Details | ||
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| Base Year: | 2024 | Market Size in 2025: | USD 14.01 Bn |
| Historical Data for: | 2020 To 2024 | Forecast Period: | 2025 To 2032 |
| Forecast Period 2025 to 2032 CAGR: | 4.9% | 2032 Value Projection: | USD 19.59 Bn |
| Geographies covered: |
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| Segments covered: |
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| Companies covered: |
The Barry Callebaut Group, The Hershey Company, Nestlé S.A., Cargill Incorporated, Puratos Group, Cémoi, Mars, Incorporated, Blommer Chocolate Company, Meiji Holdings Company, Ltd., Carlyle Cocoa Beans, Jindal Cocoa Beans, and United Cocoa Beans Processor |
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| Growth Drivers: |
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| Restraints & Challenges: |
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The global demand for specialty and premium chocolate products has been increasing in the recent years. Consumers worldwide are increasingly preferring chocolates with higher cacao content and unique flavour profiles. This rising popularity of dark, single-origin, and artisanal chocolates is driving growth of global cocoa market. Cocoa beans producers are investing in improving the quality and yield of their crops to meet the standards required for premium chocolate production. This has positively impacted cocoa beans bean quality. Leading chocolate brands are also collaborating directly with farmer cooperatives and paying higher prices to encourage the shift towards specialty cocoa beans production.
The premiumization trend is expected to drive the market growth as more consumer’s associate dark and high-cacao chocolates with natural ingredients, artisanal craftsmanship, and health benefits like antioxidants. Younger consumers are especially willing to pay premium prices for unique flavors and sustainable sourcing narratives presented by niche chocolate makers. Thus, volumes of specialty cocoa beans are likely to see more than proportional gains compared to regular cocoa beans s over the next 5 years.
Growing demand for cocoa beans from the pharmaceutical industry provides a significant opportunity for the global cocoa market. cocoa beans contain high levels of flavonoids that have several health benefits. flavonoids are a class of antioxidants that can improve heart health, lower blood pressure, and reduce inflammation. Several clinical research studies have shown that cocoa beans can treat alzheimer's disease, reduce symptoms of asthma and protect against certain types of cancer as well.
As consumers increasingly focus on preventive healthcare and seek natural remedies, the use of cocoa beans -based pharmaceutical products increases. Major pharmaceutical companies are actively researching the medical uses of cocoa beans and developing supplements, pills, and therapies derived from cocoa beans.
Online shopping has indeed become a growing trend globally and is influencing various industries and markets. With more and more people preferring the convenience of online shopping over visiting physical stores, cocoa beans product companies are selling products online also. Brands and manufacturers dealing with cocoa beans confectioneries, chocolates and other Cocoa Beans -based food products now have prominent web pages and engage in aggressive online marketing. These showcase their diverse product ranges and offer attractive discounts and deals for online purchases. This boosts demand for Cocoa Beans products substantially.
The trend is steadily driving more Cocoa Beans farmers and exporters to focus on meeting the demands of online channels. Countries like Cote d'Ivoire, which produces around 40% of the world's Cocoa Beans, have taken initiatives to streamline their supply chain operations to facilitate swift delivery of Cocoa Beans and intermediary products to online retailers worldwide.
The growing demand for organic and fair-trade cocoa beans is having a significant impact on the global cocoa market. Consumers are increasingly concerned about the social and environmental sustainability of the products they purchase. These people want assurance that cocoa beans are produced safely, without harmful chemicals, and through ethical supply chains that fair compensate farmers.
This shift in consumer preferences has created new opportunities for cocoa beans farmers but also new challenges for the industry. Farmers are experimenting with organic and fair-trade production methods that are kinder to the environment and local communities. However, the transition involves changes to farming practices as well as certification requirements. It can be an expensive process that not all farmers have means to implement. Cocoa beans companies and trading intermediaries are likewise adapting their sourcing models and investing in programs to promote sustainability standards.
Most of the world's cocoa comes from West African countries, therefore cocoa production is still mostly in these areas. Côte d'Ivoire alone made more than 2.3 million tonnes, which is about four out of ten tonnes of cocoa made around the world. Ghana and Nigeria are also among the top producers. West Africa produces about 65% or more of the world's cocoa, while South America and Southeast Asia make up most of the rest.
Production trends have not been consistent. For example, data from the 2023/24 crop year showed that output dropped significantly compared to the previous season, which pushed cocoa prices up around the world. In early 2025, global monthly price indices reached their highest levels, which showed that the market was tight. Later in the year, they started to go down.
Processing activity reveals the way cocoa is used in industry. Côte d'Ivoire and the Netherlands are two of the biggest processors. Ivorian facilities process more than 700,000 tonnes of cocoa each year, and European facilities process more than 1.4 million tonnes. Chocolate companies like Mars Wrigley, Mondelez, and Ferrero make tens of billions of dollars in net sales each year, showing the magnitude of the cocoa-derived product market is.
Agricultural conditions in producing regions, disease pressures, and policy and regulatory factors that affect trade all continue to have an effect on prices and supply. These things all affect inventory levels and the global balance.
Definition: Cocoa Beans is a powder made from roasted, husked, and ground seeds of the cacao tree, Theobroma cacao, from which much of the fat has been removed. It is used in various food and beverage applications, including hot Cocoa Beans , chocolate, and baked goods. Cocoa Beans are native to the Amazon rainforest and are the basis of chocolate and Mesoamerican foods. The beans are roasted, cracked, and deshelled, resulting in pieces called nibs, which are further processed into Cocoa Beans solids and Cocoa Beans butter. The term "Cocoa Beans " is sometimes used interchangeably with "cacao," which refers to the raw, unrefined bean. Cocoa Beans is a significant contributor to economies such as Nigeria, and demand for Cocoa Beans products continues to grow steadily.
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About Author
Pankaj Poddar is a seasoned market research consultant with over 12 years of extensive experience in the fast-moving consumer goods (FMCG) and plastics material industries. He holds a Master’s degree in Business Administration with specialization in Marketing from Nirma University, one of India’s reputed institutions, which has equipped him with a solid foundation in strategic marketing and consumer behavior.
As a Senior Consultant at CMI for the past three years, he has been instrumental in harnessing his comprehensive understanding of market dynamics to provide our clients with actionable insights and strategic guidance. Throughout his career, He has developed a robust expertise in several key areas, including market estimation, competitive analysis, and the identification of emerging industry trends. His approach is grounded in a commitment to understanding client needs thoroughly and fostering collaborative relationships. His dedication to excellence and innovation solidifies his role as a trusted advisor in the ever-evolving landscape of not only FMCG but also chemicals and materials markets.
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