Company Spotlight

Consumer Insights
Uncover trends and behaviors shaping consumer choices today
Procurement Insights
Optimize your sourcing strategy with key market data
Industry Stats
Stay ahead with the latest trends and market analysis.
Consumers and businesses alike are driving demand for responsibly sourced cocoa, ensuring a positive impact on both local communities and the environment.
Cocoa originally developed as an understorey crop in the Amazonian forests, thriving in shaded environments. Consequently, its commercial cultivation is best suited to plantations where approximately 50% light availability is maintained. Globally, around 70% of cocoa bean production is concentrated in four West African countries: Ivory Coast, Ghana, Nigeria, and Cameroon.
According to Expert Market Research, the global cocoa market size was approximately USD 26.70 billion in 2024. The market is further projected to grow at a CAGR of 4.7% between 2025 and 2034 to attain a value of USD 42.26 billion by 2034.
The cocoa market is being supported by several key factors, including the rising demand for chocolate and confectionery products, majorly in emerging countries such as India and China. The growing inclination towards dark chocolate rich in antioxidants, primarily created by the demand for premium chocolates is further supporting cocoa consumption. Also, there is a growing application in non-food industries, such as cosmetics and pharmaceuticals, significantly contributing to the cocoa market growth. Furthermore, the increasing number of consumers seeking natural and organic alternatives in personal care is pushing the demand for cocoa butter, a key ingredient in skincare products.
The rising awareness of cocoa's health benefits, including its positive effects on heart health, inflammation reduction, and cognitive function, has further increased its use in functional foods and beverages. Moreover, the growing emphasis on sustainable and certified cocoa production has driven the demand for ethically sourced products. Certifications like Fair Trade and Rainforest Alliance have encouraged major manufacturers to adopt environmentally and socially responsible practices, enhancing consumer trust and market growth.
There is a growing demand for certification and sustainability in cocoa. In 2022, about 81% of all cocoa sold was certified under a sustainability standard in Germany.
Globally, there is a high prioritisation of sustainability in the cocoa sector, with increased emphasis on poverty reduction and achieving a living income for farmers being pressing and essential issues. Child labour continues to be a recurring concern, with little visible improvement. An estimated 1.5 million children are engaged in child labour on cocoa farms in Côte d’Ivoire and Ghana alone, highlighting the urgency of addressing this challenge.
Moreover, there is a rising focus on farmer incomes, resulting in a large number of initiatives such as the Living Income Differential (LID) implemented by Côte d’Ivoire and Ghana. This government-led effort addresses sustainability at an institutional level by enabling partnership and collaboration between cocoa-producing countries, traders, and chocolate manufacturers. Also, this initiative prioritises cocoa pricing as a key driver of sustainability, introducing mechanisms that aim to benefit farmers directly. Additional efforts include the Living Income Summit in 2022, organised by the Sustainable Trade Initiative (IDH) in collaboration with the Living Income Community of Practice, the Living Income Roadmap Steering Committee, and the Business Commission to Tackle Inequality.
Private sector contributions have also played a role, with Nestlé launching an income accelerator program to enhance the livelihoods of cocoa-farming families and promote sustainable farming practices in Côte d’Ivoire.
Germany has shown significant interest in the sustainability of cocoa production. In 2023, members of the German Initiative on Sustainable Cocoa (GISCO) pledged to ensure that 90% of households supplying to GISCO members achieve a living income by 2030. Additionally, Germany enforces social due diligence laws to support responsible practices in the cocoa supply chain.
Health-Conscious Indulgence Trends: Traditionally regarded as a comfort beverage, hot chocolate has seen a shift in consumer perception due to growing awareness of cocoa’s health benefits, particularly its flavonoid content. In regions such as North America and Europe, there is a rising preference for dark chocolate-based beverages, valued for their high antioxidant levels and potential to support cardiovascular health and lower blood pressure. In response, brands are increasingly offering health-oriented options, including low-sugar and dairy-free hot chocolates, catering to consumers who wish to indulge while maintaining a healthier lifestyle. This trend is further reflected in the expanding availability of hot chocolates crafted with plant-based milk alternatives such as oat, almond, and coconut milk.
On-the-Go Convenience: The demand for convenience continues to shape consumer choices in today’s fast-paced world. Single-serve hot chocolate sachets, pods, and ready-to-drink (RTD) formats have witnessed significant growth, particularly in markets like the United Kingdom and the United States. These products are designed to provide busy consumers with premium, high-quality experiences on the go. The RTD hot chocolate segment, in particular, has seen steady expansion as consumers increasingly prioritise convenience in their daily routines while seeking indulgent yet accessible beverage options.
Supply and Demand: The global cocoa market continues to face a supply deficit in 2024. Key cocoa-producing nations in West Africa, including the Ivory Coast and Ghana, have reported declining yields due to factors such as aging plantations, plant diseases, and adverse weather conditions. As these countries account for over 70% of global cocoa supply, any disruption in their production has a significant impact on worldwide availability. Although production has increased in regions like Latin America and Southeast Asia, it has not been enough to compensate for the shortfall caused by challenges in West Africa. On the demand side, cocoa remains in high demand, driven by its essential role in chocolate and other cocoa-based products. The preference for premium and sustainably sourced cocoa is particularly strong in Europe and North America while emerging markets in Asia and Latin America show growing demand for chocolate and cocoa products.
Price Volatility: In 2024, cocoa prices reached record highs, driven by ongoing supply constraints and strong global demand. This significant price surge has had a notable impact on the market. In response, the industry has implemented strategies such as shrinkflation, reducing product sizes to mitigate rising costs, and increasing investments in alternative solutions, including lab-grown cocoa. Despite these price increases, consumer demand remains robust, highlighting the continued importance of cocoa in the global market.
Latest Updates on Thriving Economically in a World of Constant Innovation
To place an order through our website, select the license type mentioned on the report details page. Click on the ‘Buy Now’ button and fill in your details. Select your preferred mode of payment after which you will be redirected to the selected payment gateway. Follow the steps and proceed to checkout.
www.expertmarketresearch.comEnlisting all your requirements and queries along with details that include billing and delivery address and the preferred payment mode. Our customer service representative will revert to you within 24 hours.
[email protected]To place an order through telephone, call our sales team on the following numbers and our customer service representative will help you regarding the same.
+61 291 889 415Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City,1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
United States
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124