Expert Market Research Explores the Top 10 Companies in the Global Cocoa Market

The global cocoa market reached a value of USD 26.70 billion in 2023. The market is further expected to grow at a CAGR of 4.7% between 2024 and 2032 to reach a value of USD 36.42 billion by 2032. As per the analysis by Expert Market Research, the market is expected to be driven by the rising consumption in the food and beverages industry and the cosmetics industry.

The cocoa market is driven by the food and beverages sector's high demand for cocoa products like chocolates and cocoa-based drinks. These products are favoured not only for their rich flavour but also for their health benefits, attributed to their high flavanol content. Cocoa's antioxidant properties are increasingly recognized in the cosmetic and pharmaceutical industries, where it is used to combat ageing effects and environmental damage. Cocoa’s ability to lower blood pressure and improve cardiovascular health is gaining popularity among consumers, fueling its growth across various industries worldwide.

Cocoa butter holds a significant share in the cocoa market, serving as a crucial ingredient in chocolate production for various food and cosmetic products. It is utilized in both liquid and solid forms, playing essential roles in chocolates, cakes, ice creams, and skin care items like creams and conditioners.

Increasing production of cocoa beans globally, due to heightened demand for cocoa products is fueling the market.  Globally 4.8 million tons of cocoa beans  were produced during 2021-2022. Africa accounts for the majority of production worldwide, accounting for 74.4% in 2021-2022. This was followed by Americas and Asia & Oceania, accounting for 20.1% and 5.5%, respectively. Ivory Coast alone produced 43% over 2.2 million tons, and other countries such as Ghana, Nigeria, Cameroon, and Togo contributed an additional 1.55 million tons.

Top 10 Cocoa Companies in the World:

Barry Callebaut AG

Barry Callebaut AG stands as a global frontrunner in the production of premium chocolate and cocoa goods. The company is deeply involved in every stage, from cocoa bean procurement to crafting the finest chocolates, encompassing chocolate fillings, embellishments, and compounds. They market their products under a range of distinguished brands, such as Callebaut®, Cacao Barry®, Carma®, and the specialized decorating expert Mona Lisa®.

TOUTON S.A.

Touton is recognized as a prominent player in the global agro-industrial sector, specializing in the responsible sourcing of cocoa, coffee, vanilla, and natural ingredients. As one of the top five cocoa traders worldwide, the company operates with a supply network comprising 250 tier one suppliers. In addition to this, Touton operates a cocoa processing facility and takes pride in achieving an impressive 90% sustainability rate within its direct cocoa supply chain.

Olam Food Ingredients (ofi)

Olam Food Ingredients (Ofi) is dedicated to providing food and beverage ingredients on a global scale. Ofi holds the esteemed position of being the leading global cocoa originator. The company delivers its products through widespread manufacturing through over 110 facilities and offers a diverse range of natural, delectable, and nutritious offerings.

Cemoi Group

CÉMOI has evolved into one of the foremost chocolate manufacturers globally, exerting a significant presence in international markets. The CÉMOI group, headquartered in Perpignan, encompasses 11 factories and 3 warehouses. The group is dedicated to sourcing the finest conventional and organic cocoa beans, emphasizing proximity to producers, and subsequently processes these beans primarily within the borders of France.

Cargill, Incorporated

Cargill, Incorporated, a multinational food company headquartered in the United States, operates across various sectors, including agriculture, finance, and industrial products on a global scale. The company plays a crucial role in connecting customers with essential ingredients, linking farmers to markets, and ensuring that people and animals have the sustenance they need for their daily sustenance.

Cocoa Processing Company Limited (CPC)

Cocoa Processing Company Limited (CPC), located in Tema, operates three factories, which include two cocoa factories and a confectionery factory. These facilities are primarily engaged in the transformation of raw cocoa beans into semi-finished cocoa products. Notably, the CPC factories exclusively process the finest, high-quality Ghana cocoa beans without any blending. The annual processing capacity of the cocoa factories amounts to a substantial 65,000 metric tonnes of premium Ghana cocoa beans.

ECOM Agroindustrial Corp. Limited

ECOM is globally recognized as a leader in the field of soft commodity services, with a primary emphasis on coffee, cocoa, and cotton. The company’s workforce includes more than a thousand agronomists and field personnel deployed worldwide, driving innovative on-site initiatives and sustainability programs aimed at benefiting their customers and farming communities on a global scale.

PRONATEC AG

PRONATEC, a trailblazer in the worldwide organic and fair trade sector for over four and a half decades, specializes in providing premium, certified ingredients to its international clientele in the food and cosmetics sectors. The company's product catalogue comprises semi-finished cocoa products, chocolate, coatings, sugar, vanilla, and spices, featuring an array of organic and fairtrade labels.

Blommer Chocolate Company

Blommer Chocolate Company stands as the foremost cocoa processor and ingredient chocolate supplier in North America. Leveraging its four strategically positioned manufacturing facilities within the continent, the company offers holistic business solutions to both domestic and international clients of varying scales, operating in the confectionery, baking, and dairy sectors.

Crown of Holland (Tradin Organic Agriculture B.V.)

Crown of Holland is Tradin Organic's cocoa processing plant located in the Netherlands. Specializing in the processing of certified organic cocoa beans, the company employ both whole-bean roasting technology and nib roasting technology. The company provides a range of organic certifications and offers fully traceable alternative certifications, including options tailored for specific customer projects.