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Report Overview

The global chocolate market size was valued at USD 45.95 Billion in 2024. The industry is expected to grow at a CAGR of 4.90% during the forecast period of 2025-2034 to reach a valuation of USD 74.14 Billion by 2034.

2024

Base Year

2018-2024

Historical Period

2025-2034

Forecast Period

  • The rising awareness regarding the health benefits offered by dark chocolate is contributing to its increased consumption.

  • Manufacturers are increasingly focusing on new product launches to meet the evolving consumer demands.

  • There is a surge in demand for premium chocolates and innovative offerings like low-sugar chocolates, vegan chocolates, and plant-based chocolates.

Compound Annual Growth Rate

4.9%

Value in USD Billion

2025-2034


Chocolate Market Outlook

*this image is indicative*

Global Chocolate Market Report Summary Description Value
Base Year USD Billion 2024
Historical Period USD Billion 2018-2024
Forecast Period USD Billion 2025-2034
Market Size 2024 USD Billion 45.95
Market Size 2034 USD Billion 74.14
CAGR 2018-2024 Percentage XX%
CAGR 2025-2034 Percentage 4.90%
CAGR 2025-2034 - Market by Region Asia Pacific 5.52%
CAGR 2025-2034 - Market by Country India 7.77%
CAGR 2025-2034 - Market by Country Brazil 5.35%
CAGR 2025-2034 - Market by Sales Channel B2C 5.54%
CAGR 2025-2034 - Market by Category Compound Chocolate 5.58%
Market Share by Country 2024 United States 18.10%

The global chocolate market is experiencing strong investment in production capacity to meet rising demand. Supporting this, in March 2025, Clasen Quality Chocolate announced a new manufacturing facility in Frederick County, Virginia, to better serve large grocery chains and food companies with high-quality chocolate and confectionery coatings. Meanwhile, in February 2025, Olympic Industries in Bangladesh is investing USD 1.66 million to boost chocolate production at its Lolati factory by 3,300 tonnes annually, using advanced imported machinery. Technology is transforming chocolate production. From AI-driven flavour innovation to precision fermentation crafting sustainable, cocoa-free alternatives, Companies such as California Cultured and Voyage Foods are redefining indulgence. These advances reflected better supply chain resilience and greater chocolate experiences.

As part of broader efforts to build a more sustainable and environmentally responsible chocolate supply chain, Belcolade opened its first carbon-neutral chocolate factory in Belgium in 2023. The facility is powered entirely by renewable energy and incorporates circular water use and zero-waste practices.  Additionally, Barry Callebaut expanded its chocolate factory in Campbellfield, Australia, in 2022. The upgraded facility increases production capacity and adds a new line for liquid chocolate, allowing the company to better serve industrial customers.

Key Trends and Developments

Global Chocolate Market

Chocolate Industry Segmentation 

The Expert Market Research’s report titled “Global Chocolate Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:

Market Breakup by Category

  • Pure Chocolate
  • Compound Chocolate

Compound chocolate holds a dominant share in the global chocolate market largely due to its affordability, ease of use, and suitability for large-scale production. It is widely favored by manufacturers for use in bakery products, confectionery coatings, and moulded chocolate items. Its stability in various climatic conditions and longer shelf life make it ideal for distribution in diverse markets, especially in regions with limited cold chain infrastructure. As demand for cost-effective yet indulgent chocolate products continue to grow, particularly in emerging economies, compound chocolate remains a dominant and practical solution for mass-market chocolate production.

Market Breakup by Sales Channel

  • B2B
  • B2C

B2B represents a significant segment of the global chocolate market, driven by demand from food manufacturers, bakeries, confectionery producers, and the hospitality sector. Industrial chocolate, used as an ingredient in a wide range of products, from baked goods and dairy items to snacks and desserts, fuels this demand. Major chocolate suppliers cater to B2B clients with customized solutions, including tailored formulations, specialty ingredients, and bulk packaging. As innovation and premiumization trends grow across the food industry, B2B partnerships are increasingly focused on sustainability, consistency, and product quality to meet evolving consumer expectations and regulatory standards.

Market Breakup by End Use

  • Confectionery
  • Bakery
  • Dairy & Frozen Dessert
  • Beverages
  • Others

The confectionery segment holds a significant share of the global chocolate market, driven by strong consumer demand for indulgent, convenient, and gift-worthy products. This segment includes moulded chocolates, filled bars, truffles, and seasonal items, appealing to a wide range of age groups. Continuous innovation in flavours, textures, and packaging keeps the category dynamic and competitive. Trends such as premiumisation, impulse purchases, and festive consumption further support growth. With broad availability across supermarkets, convenience stores, and online platforms, chocolate confectionery remains a key revenue driver for both global brands and regional manufacturers in the international chocolate industry.

Market Breakup by Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Europe remains the largest and most mature market in the global chocolate industry, driven by high per capita consumption, a strong tradition of chocolate making, and the presence of world-renowned brands. Countries such as Germany, Switzerland, the United Kingdom, and Belgium play a major role in shaping market trends through innovation, premium offerings, and sustainable sourcing practices. The region benefits from well-established retail infrastructure and consumer preference for both every day and artisanal chocolates. Europe’s continued focus on quality, ethical production, and product differentiation secures its leadership in the global chocolate market.

Global Chocolate Market Share

Surging Demand for Compound Chocolate

Increasing product innovation in compound chocolate applications is propelling the chocolate market growth. On average, compound chocolate is significantly cheaper than traditional chocolate, making it a preferred choice for cost-effective production. Reflecting this, in May 2023, AAK launched CEBES Choco 15, a patented, plant-based CBS compound that allows for 15% cocoa in recipes, delivering enhanced cocoa flavour, long shelf life, and efficient processing for industrial and bakery applications. Further, in 2023, Puratos US expanded its Wisconsin chocolate plant with a new production line dedicated to both real chocolate and compound coatings, boosting output.

Globally, demand for pure chocolate is rising, with many markets, such as France and Belgium, requiring chocolate to contain 70% or more cocoa and to use only cocoa butter, ensuring premium. Quality.  Supporting this global trend, Masqa in 2023, launched a line of gourmet couverture chocolate products, highlighting the brand's commitment to quality and premium craftsmanship. Additionally, Belcolade introduced its first plant-based white couverture chocolate in 2023. This innovative product offers a premium alternative for consumers seeking plant-based alternatives. 

B2B Segment is Driven by the Rising Industrial Application of Chocolate

As demand for cocoa-based ingredients rises in the industrial segment, companies are investing to scale production closer to end markets. In line with this trend, Barry Callebaut in 2022, partnered with the Moroccan government to establish a new production facility in Morocco. This strategic move allows Barry Callebaut to strengthen its position in North Africa and expand its B2B operations. The new facility will support the growing demand for chocolate and cocoa ingredients across the region, ensuring high-quality products for a wide range of industries.

Further, the B2C chocolate segment is seeing increased investment in direct-to-consumer experiences, with brands expanding retail footprints and focusing on freshness and quality to attract end customers. In 2023, Masqa, a D2C brand, entered the F&B sector with the launch of its premium food line. The debut range features couverture chocolate products such as bars, barks, and pebbles, developed in innovative flavours and crafted with culinary precision to cater to refined consumer preferences.

The Confectionery Segment is driven by Rising Consumer Demand for Indulgent Chocolate Products

Rising demand for indulgent, premium products and innovative flavours is driving the confectionery segment growth. Manufacturers and brands are working to expand chocolate offerings by forming strategic alliances and collaborations, enabling innovation across ingredients, formats, and regional markets to better serve evolving consumer preferences.

For instance, in 2024, Cargill launched a new cocoa production line at its Gresik plant in Indonesia to meet growing demand for indulgent foods across Asia. The facility will support bakery, ice cream, chocolate confectionery, and café-style beverages in foodservice, enhancing innovation and responsiveness for regional customers.

Additionally, in 2024, Supernatural launched a dedicated B2B channel, partnering with Milk Bar, King Arthur Baking, and Snack Conscious to supply natural, plant-based sprinkles and inclusions for chocolate-based bakery and snack applications.

Further, in 2023, Mondelēz International invested approximately USD 32.4 million in its Herentals bakery plant in Belgium. The expansion includes a new production hall dedicated to Prince biscuits.

Europe’s Chocolate Market is Characterised by high per capita consumption, strong presence of premium brands, and established retail and artisanal channels.

According to 2025 data, Europe dominates global chocolate production. Germany is the leading producer of chocolate, followed by Italy, France, the Netherlands, Belgium and Poland. Germany is Europe’s largest chocolate manufacturing industry. In 2023, Germany produced close to 1.14 million tonnes of chocolate products, equating to 13.6 kilograms per capita. A growing demand for chocolates is compelling producers to expand their production capacity to meet the demand. In June 2024, Mars announced its plans to invest USD 43.3 million in a chocolate factory in Germany, in part to support production of its Twix brand. A portion of the investment will also go into improving the production lines and supporting more sustainable production. 

In North America, an expanding finished chocolate goods sector is propelling the market. Producers are expanding their operations to better serve customers with high-quality chocolate products. In February 2025, Clasen Quality Chocolate announced a USD 230 million investment to build a new facility in Virginia. Investments in the production of industrial chocolate are stimulating market development in the United States. In February 2025, IRCA Group Americas confirmed the opening of a new state-of-the-art chocolate facility in St. Louis. The facility is designed to produce artisanal, industrial, and specialty chocolates for food manufacturers and professionals across the Americas.

Chocolate Confectionery Industry Segmentation 

The Expert Market Research’s report titled “Global Chocolate Confectionery Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments: 

Market Breakup by Type

  • Milk Chocolate
  • Dark Chocolate
  • White Chocolate
  • Others

Milk chocolate holds a dominant share in the global chocolate market due to its creamy texture, balanced sweetness, and widespread consumer appeal. Its versatility allows for use in a variety of formats, including bars, filled chocolates, and seasonal products. Strong brand presence, continuous product development, and global demand reinforce milk chocolate's leading position in the confectionery market. 

Market Breakup by Distribution Channel

  • Supermarkets and Hypermarkets
  • Convenience Stores
  • Online
  • Others

Supermarkets and hypermarkets represent a significant segment of the global chocolate market, offering consumers convenient access to a wide variety of products. These large retail formats provide extensive shelf space for both international brands and local offerings, supporting high product visibility and frequent impulse purchases.

Market Breakup by Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Europe holds a significant share of the global chocolate market

Europe commands a significant share of the global confectionery market, supported by a long-standing tradition of confectionery production and high consumer demand across diverse categories. Europe’s chocolate market is evolving with rising demand for plant-based, sustainable, and premium products.

CAGR 2025-2034 - Market by Country
India 7.77%
China 4.63%
Brazil 5.35%
Mexico 5.50%
Australia 5.20%
Japan 5.02%
USA XX%
Canada XX%
UK XX%
Germany XX%
France XX%
Italy XX%
Saudi Arabia XX%

Competitive Landscape 

The global chocolate market is highly competitive, led by major multinational companies such as Mars, Mondelēz International, Nestlé, Ferrero, and Hershey. These players dominate through strong brand recognition, expansive distribution networks, and continuous product innovation. The market also includes regional and premium artisanal brands that cater to niche demands for organic, vegan, and ethically sourced chocolates.

Barry Callebaut AG

Barry Callebaut AG, founded in 1996 and headquartered in Switzerland is a world-leading manufacturer of high-quality chocolate and cocoa products. The company is engaged in sourcing and processing cocoa beans to produce the finest chocolates, including chocolate fillings, decorations, and compounds.

Olam Food Ingredients (OFI)

Headquartered in Singapore, OFI was founded in 2012. It is a global leader in naturally sourced food ingredients and solutions, operating as a subsidiary of Olam Group.  The company specialises in sustainable sourcing and innovative processing of cocoa, coffee, dairy, nuts, and spices for manufacturers, retailers, and foodservice providers worldwide. Ofi is the top one global cocoa originator and top third cocoa producer globally.

Cargill Incorporated

Cargill, Incorporated is a global food company based in the United States, engaged in agriculture, finance, and industrial products business globally. The finished products are delivered by the company to their customers in foodservice, retail, consumer packaged goods and industrial sectors.

Guan Chong Berhad

Malaysia-based Guan Chong Berhad is a globally recognised manufacturer renowned for its expertise in producing a diverse range of cocoa-derived food ingredients and premium chocolate products. The company operates eight production facilities and maintains four cocoa trading offices strategically positioned to support its global operations.

*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*

Other key players in the chocolate market report are Fuji Oil Co., Ltd., Mars, Incorporated, Mondelēz International, Inc., Ferrero International S.A., The Hershey Company, Nestlé S.A., Chocoladefabriken Lindt & Sprüngli AG, AUGUST STORCK KG, United Confectionary, S.L.U, pladis Foods Ltd., Meiji Holdings Co., Ltd., LOTTE Corporation, and Arcor Group, among others.

Key Features of the Report

•    Comprehensive quantitative analysis of global chocolate market trends.
•    Region-wise and segment-wise breakdown for accurate market forecasting.
•    Insights into key drivers, challenges, and emerging industry opportunities.
•    Competitive landscape profiling top chocolate companies.
•    Supply chain analysis with technological and infrastructure developments.
•    Strategic recommendations for new entrants and established chocolate providers.

Why Choose Expert Market Research?

•    Trusted industry insights backed by real-world data and expertise.
•    Customized reports tailored to your specific business needs.
•    Up-to-date trends and forecasts across global chocolate sectors.
•    Extensive coverage of emerging and established chocolate markets.

Unlock valuable insights by downloading a free sample of the Global Chocolate Market Report. Stay ahead with expert analysis of market trends, growth drivers, and strategic forecasts. Learn how key players are shaping the future of global chocolate sector and gain a competitive edge in this evolving sector.

More Insights On

North America Compound Chocolate Market

Africa Compound Chocolate Market

Chocolate Bar Packaging Market

Chocolate Confectionery Market

Australia Chocolate Milk Market

Asia Pacific Chocolate Market

Germany Chocolate Market

Crunchy Chocolate Market

Chocolate Spread Market

White Chocolate Market

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*

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Key Questions Answered in the Report

In 2024, the market reached an approximate value of USD 45.95 Billion.

The market is projected to grow at a CAGR of 4.90% between 2025 and 2034.

The key players in the market report include Barry Callebaut AG, Olam Food Ingredients (OFI), Cargill Incorporated, Guan Chong Berhad, Fuji Oil Co., Ltd., Mars, Incorporated, Mondelēz International, Inc., Ferrero International S.A., The Hershey Company, Nestlé S.A., Chocoladefabriken Lindt & Sprüngli AG, AUGUST STORCK KG, United Confectionary, S.L.U, pladis Foods Ltd., Meiji Holdings Co., Ltd., LOTTE Corporation, and Arcor Group, among others.

Compound chocolate dominates the category segment of the market due to the growing demand in the mass production of chocolate products.

Key strategies driving the chocolate market include product innovation, premiumisation, and a strong focus on health-conscious and sustainable offerings. Expansion into emerging markets and investment in e-commerce also support global growth.

Report Summary

Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.

Key Highlights of the Report

Please note that the figures mentioned in the description serve as estimates and may vary from the actual figures presented in the final report.

REPORT FEATURES DETAILS
Base Year 2024
Historical Period 2018-2024
Forecast Period 2025-2034
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Category
  • Sales Channel
  • Region
Breakup by Category
  • Pure Chocolate
  • Compound Chocolate
Breakup by Sales Channel
  • B2B
  • B2C
Breakup by Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Trade Data Analysis
  • Major Exporting Countries
    • By Value
    • By Volume
  • Major Importing Countries
    • By Value
    • By Volume
Competitive Landscape
  • Supplier Selection
  • Key Global Players
  • Key Regional Players
  • Key Player Strategies
  • Company Profiles
Companies Covered
  • Barry Callebaut AG
  • Olam Food Ingredients (OFI)
  • Cargill Incorporated
  • Guan Chong Berhad
  • Fuji Oil Co., Ltd.
  • Mars, Incorporated
  • Mondelez International, Inc.
  • Ferrero International S.A
  • The Hershey Company
  • Nestlé S.A
  • Chocoladefabriken Lindt & Sprüngli AG
  • August Storck KG
  • United Confectionary S.L.U
  • pladis Foods Ltd.
  • Meiji Holdings Co., Ltd.
  • LOTTE Corporation
  • Arcor Group
  • Others

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