Press Release
Press Release
Europe holds a significant market share due to the presence of leading international chocolate brands such as Barry Callebaut, Lindt & Sprüngli, and Mondelez International in the region. In 2020–2021, Europe accounted for almost 36% of global cocoa grinding activities. Additionally, the growing popularity of artisanal chocolates positively influences the cocoa and chocolate market growth. Cocoa production primarily relies on small-scale farmers, with 90% of cocoa sourced from family farms of up to 5 hectares globally.
Developing nations such as Ghana, Ivory Coast, Nigeria, and Cameroon in West Africa produce around 90% of global cocoa supplies. Ivory Coast and Ghana are the largest cocoa producers, contributing to 63% of the world's cocoa production. Global brands such as Cadbury and Nestle source primarily from Ivory Coast and Ghana, making a significant impact on their GDPs.
The expansion of the product portfolio by key players supports the market growth of cocoa and chocolate. In October 2023, Mondelez International (NASDAQ: MDLZ) announced the transformation of its beloved Toblerone chocolate brand by introducing innovative formats in key markets, embodying its refreshed brand signature, "Never Square."
With a rich history spanning 115 years, the iconic brand is reinforcing its new identity through substantial investments in premium product offerings, extensive marketing and advertising efforts, and an expanded distribution strategy. Its new premium offerings, including Toblerone Truffles and Tiny Toblerone boxes, in sharable packs of treat-sized chocolates are aimed at supporting customers to snack mindfully.
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The major players in the global cocoa and chocolate market are Barry Callebaut AG, Cargill Incorporated, Nestlé S.A., Olam Food Ingredients (ofi), Cocoa Processing Company Limited (CPC), Mondelez International, Inc., and Meiji Holdings Co., Ltd., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Ingredient |
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Breakup by Application |
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Breakup by Type |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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