Cocoa and Chocolate Market Size to Worth USD 67.88 billion by 2029 | CAGR of 4.98% during 2025-2029

Key companies covered in the cocoa and chocolate market report are Barry Callebaut, AG, Cargill, Inc., Olam International, and Others.

NY, UNITED STATES, May 14, 2025 /EINPresswire.com/ -- The global cocoa and chocolate market was valued at USD 46.61 billion in 2021. It is expected to increase from USD 48.29 billion in 2022 to USD 67.88 billion by 2029, registering a CAGR of 4.98% over the forecast period.

The market is witnessing steady growth due to the strong performance of the global chocolate confectionery sector. A notable rise in the origin share of global cocoa grindings has supported increased consumption of cocoa-based products. Ongoing product innovations across various food sectors are also contributing to the market's expansion. Chocolate continues to be a dominant flavor in new product launches within the beverage, bakery, and confectionery categories and remains a popular ingredient in sweet and drinkable items. This trend is anticipated to drive market growth moving forward.

Fortune Business Insights™ offers these insights in its comprehensive research report titled “Cocoa and Chocolate Market Size, Share, Growth, and Forecast Report, 2022-2029.”

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https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/cocoa-and-chocolate-market-100075

➤ Report Scope & Segmentation:

♦︎ Market Size Value in 2022: USD 48.29 billion
♦︎ Market Size Value in 2029: USD 67.88 billion
♦︎ Growth Rate: CAGR of 4.98%% (2022-2029)
♦︎ Base Year: 2023
♦︎ Historical Data: 2019-2022
♦︎ Years Considered for the Study: 2018-2029
♦︎ No. of Report Pages: 180
♦︎ 𝗦𝗲𝗴𝗺𝗲𝗻𝘁𝘀 𝗖𝗼𝘃𝗲𝗿𝗲𝗱: By Type (Cocoa Ingredients (Butter, Liquor, Powder) and Chocolate (Dark, Milk, White, and Filled)), By Application (Food & Beverage, Cosmetics, Pharmaceuticals, and Others)
♦︎ 𝗥𝗲𝗴𝗶𝗼𝗻𝗮𝗹 𝗦𝗰𝗼𝗽𝗲: North America, Europe, Asia Pacific, Central & South America, Middle East & Africa
♦︎ 𝗚𝗿𝗼𝘄𝘁𝗵 𝗗𝗿𝗶𝘃𝗲𝗿𝘀: Proliferating Demand for Certified and Single Origin Chocolate to Augment Growth | High Demand for Chocolate Confectionery to Fuel Market Growth

➤ List of Key Players Mentioned in the Report:
• Barry Callebaut, AG (Switzerland)
• Cargill, Inc. (U.S.)
• Olam International (Singapore)
• Fuji Oil Company Ltd. (Japan)
• ECOM Agroindustrial Corporation Ltd. (Switzerland)
• Cocoa Processing Co. Ltd. (Ghana)
• Touton S.A. (France)
• Niche Cocoa Industry Ltd. (Ghana)
• BD Associates Ghana Ltd. (Ghana)
• PLOT Enterprise Ghana Limited (Ghana)

➤ Segmentation Analysis:

The cocoa and chocolate market is categorized by type into cocoa ingredients (including cocoa butter, liquor, and powder) and chocolate. Among these, the chocolate segment dominates due to growing consumer demand for chocolate-based confectionery and a rising preference for premium products, particularly filled chocolates, which are capturing a larger market share.
By application, the market is segmented into food & beverage, cosmetics, pharmaceuticals, and others, with the food & beverage industry leading growth. This segment, which includes confectionery, dairy, and bakery products, benefits from the global expansion of the sector. Chocolate remains a key flavor in new product launches across bakery, beverages, and sweets. Regionally, the market spans Europe, North America, Asia Pacific, South America, and the Middle East & Africa.

➤ Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/industry-reports/cocoa-and-chocolate-market-100075

➤ Drivers & Restraints –

Rising Demand for Chocolate Confectioneries to Drive Market Expansion
The increasing consumer interest in chocolate confectioneries is a key factor propelling the global cocoa and chocolate market. In recent years, emerging economies have witnessed a surge in demand for chocolate-based confectionery products, driven by higher consumer spending on indulgent treats, particularly chocolates. However, the market may face challenges due to the growing availability and affordability of alternatives to cocoa ingredients. Substitutes such as soybean oil, palm oil, rapeseed oil, and shea butter are gaining popularity, potentially limiting growth in the cocoa and chocolate sector.

➤ Regional Insights –

Europe to Maintain Dominance in Global Market Share
In 2021, Europe held the largest market share at USD 19.95 billion, driven by major chocolate manufacturers in countries like Belgium, the Netherlands, Germany, and Switzerland. North America is expected to see strong growth as a key cocoa importer supporting its confectionery industry. Asia Pacific is rapidly developing due to rising demand for chocolate in emerging markets like India and China, fueled by higher spending on premium products. The Middle East and Africa are projected to grow the fastest, with increasing demand for convenient, high-quality, and luxury chocolate products boosting cocoa butter usage.

➤ Recent Major Developments in the Global Cocoa and Chocolate Market:
August 2021: Cargill revealed its acquisition of Aalst, a leading chocolate supplier in Asia. This move is part of Cargill’s strategy to enhance its cocoa and chocolate offerings in the Asia Pacific region, aiming to better meet the needs of its industrial and foodservice clientele.

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Ashwin Arora
Fortune Business Insights™ Pvt. Ltd.
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