The global cocoa and chocolate market is projected to grow steadily through 2030. The cocoa market is expected to reach USD 33.89 billion by 2030, up from USD 28.74 billion in 2025, registering a CAGR of 3.4%. Meanwhile, the chocolate market will expand from USD 141.42 billion in 2025 to USD 174.02 billion by 2030, at a CAGR of 4.2%

📊 Full report available here: Cocoa and Chocolate Market – Global Forecast to 2030

Market Growth Drivers

The cocoa and chocolate industry is thriving due to:

• Increasing demand for premium and indulgent chocolate products
• Rising consumer shift toward functional and plant-based chocolate
• Higher disposable incomes across emerging economies
• Expanding online and offline retail channels for accessibility

Sustainability is also playing a major role. Brands are focusing on ethical sourcing, traceability, and clean-label certifications, giving them an edge with both consumers and regulators.

Cocoa Powder: A Leading Market Segment

Among cocoa types, cocoa powder dominates due to its affordability, long shelf life, and versatility across confectionery, bakery, dairy, beverages, and nutraceuticals.

• Health-conscious consumers prefer cocoa powder for low-calorie and functional foods.
• The rise of ready-to-drink cocoa beverages and protein-based nutrition products is boosting demand.
• In February 2024, Barry Callebaut introduced defatted cocoa powders under its Bensdorp brand for health and wellness applications.

Emerging markets in the Asia Pacific and Latin America are seeing rapid growth, especially as cocoa powder becomes a key ingredient in clean-label and plant-based products.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=226179290

Retail Insights: Offline Channels Lead

Despite e-commerce growth, offline distribution—including supermarkets, hypermarkets, and specialty stores—remains dominant. Key factors:

• Consumer trust in physical product inspection, especially for premium chocolates
• Festive promotions, sampling, and in-store displays are driving impulse buying
• Strong partnerships between chocolate brands and large retailers

While online chocolate sales are growing, the perishable nature of products and the experiential value of in-store shopping keep offline formats ahead in terms of volume.

Regional Outlook: Asia Pacific Leads Growth

The Asia Pacific cocoa and chocolate market is expected to register the highest CAGR through 2030. Growth is driven by:

• A rising middle-class population and urbanization in countries like India, China, and Indonesia
• Increased gifting of chocolates during festivals and weddings
• Expanding modern retail and e-commerce penetration
• Strong demand for sugar-free, fortified, and clean-label chocolates

📌 In June 2024, Hershey expanded its production facilities in Malaysia and opened an R&D hub to create region-specific products for Asian markets.

Leading Cocoa and Chocolate Companies:

Leading companies driving global growth include:

• Cargill (US)
• Barry Callebaut (Switzerland)
• Olam Group (Singapore)
• Mars, Incorporated (US)
• Ferrero Group (Italy)
• Mondelez International (US)
• Guan Chong Berhad (Malaysia)
• Lindt & Sprüngli (Switzerland)
• Fuji Oil (Japan)

These players are investing in innovation, sustainable sourcing, and product diversification to strengthen their global presence.