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 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%. The market covers a wide range of products, including confectionery, bakery fillings, spreads, and flavored beverages. Growth is fueled by rising consumer demand for indulgent foods with functional benefits, supported by increasing disposable incomes, the launch of premium products, and innovations such as sugar-free and plant-based chocolate. Greater product accessibility through retail expansion and digital-first strategies is also contributing to market expansion. Leading players are strengthening their position by investing in sustainable sourcing, traceability, and ethical certifications to align with consumer expectations and regulatory requirements.
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By Cocoa Type: Cocoa Powder Leads the Market
The cocoa powder segment holds the largest market share, owing to its versatility, affordability, and long shelf life. Widely used across bakery, confectionery, dairy, beverages, and nutraceuticals, cocoa powder meets the needs of health-conscious consumers with its intense flavor and low-fat content, making it suitable for functional and low-calorie products. Its stable, dry form also facilitates storage, shipping, and large-scale processing.
Demand for high-quality cocoa powder is growing, particularly in ready-to-drink beverages and protein-based nutritional products. In February 2024, Barry Callebaut launched defatted cocoa powders under its Bensdorp brand to support health and wellness applications, addressing the rising demand for low-fat, high-flavor cocoa. Food manufacturers are also incorporating cocoa powder into plant-based and clean-label formulations to match evolving consumer preferences. Emerging markets in Asia-Pacific and Latin America are key growth drivers, supported by a growing middle class and rising demand for chocolate-flavored foods and beverages. As a result, cocoa powder is expected to maintain its dominance in the market throughout the forecast period.
By Distribution Channel: Offline Sales Dominate
Offline channels¡ªsuch as supermarkets, hypermarkets, convenience stores, and specialty shops¡ªremain the leading distribution route for cocoa and chocolate. These outlets attract consumers due to their wide reach, immediate product availability, and the ability to physically inspect items, especially premium chocolates and seasonal gifts. In-store promotions, sampling, and festive displays further encourage impulse purchases. Strategic partnerships with major retail chains also boost product visibility and brand recall.
While online sales have accelerated post-pandemic, particularly in markets with developed e-commerce ecosystems, offline sales continue to lead in volume. Traditional consumer behavior, combined with the perishable nature of chocolate, limits widespread online adoption in many regions. The experiential aspect of shopping and the effectiveness of product launches and promotional bundles in physical stores reinforce the dominance of offline retail.
By Region: Asia-Pacific to Register the Highest CAGR
The Asia-Pacific region is set to record the fastest growth in the cocoa and chocolate market through 2030. Rising disposable incomes, urbanization, and changing dietary preferences in emerging economies such as India, China, Indonesia, and Vietnam are key contributors. The expanding middle-class population is driving demand for premium chocolates, with younger consumers showing strong interest in innovative flavors and modern packaging.
Chocolates are also gaining cultural significance as gifts during festivals and weddings, mirroring Western traditions. Rapid retail modernization and strong e-commerce growth are enhancing product accessibility. To meet local demand, global companies are investing in regional facilities and tailored product development. For instance, in June 2024, Hershey expanded its manufacturing capacity in Malaysia and launched an R&D hub to create customized offerings for Asian consumers.
Health-focused trends are also shaping the regional market, with rising demand for clean-label, sugar-free, and fortified chocolate products. Supportive government initiatives to develop food processing infrastructure are further improving supply chain efficiency, making the Asia-Pacific a key investment hub for global players.
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Key Market Players:
Major companies profiled in the cocoa and chocolate market include Cargill (US), Barry Callebaut (Switzerland), Olam Group (Singapore), Mars Incorporated (US), Ferrero Group (Italy), Mondelez International (US), Guan Chong Berhad (Malaysia), Lindt & Spr¨¹ngli (Switzerland), and Fuji Oil (Japan).
