Global Chocolate Market Growth 2025-2031

Global Chocolate Market Growth 2025-2031

The global Chocolate market size is predicted to grow from US$ 44860 million in 2025 to US$ 54240 million in 2031; it is expected to grow at a CAGR of 3.2% from 2025 to 2031.

Chocolate is a globally consumed product made primarily from cocoa beans, which are processed into key ingredients such as cocoa butter, cocoa liquor, and cocoa powder. These ingredients provide chocolate with its distinct taste, texture, and melt-in-the-mouth sensation, making it a favorite in various food applications. Cocoa butter, in particular, is valued for its specific melting point and contraction properties, allowing chocolates to easily release from molds during production and giving them their signature smooth texture. Beyond its use in confections, chocolate also serves functional purposes in other industries, such as masking the unpleasant taste of pharmaceutical tablets, making it a versatile ingredient in both the food and health sectors.

Chocolate is widely used not only in confectionery but also in food and beverage, cosmetics, and pharmaceuticals. Its rich taste, along with nutritional and antioxidant benefits from cocoa, makes it a popular choice in many products. The versatility of chocolate as a functional and indulgent ingredient has cemented its place in both everyday and luxury consumer markets.

Market Overview

The global chocolate market is highly competitive, with key players such as Barry Callebaut, Cargill, Nestle SA, Mars, and Fuji Oil dominating the industry. These top five companies account for approximately 50% of the total market share, with Barry Callebaut leading as a global manufacturer of chocolate products. The company’s extensive range of products and strong distribution capabilities allow it to maintain a dominant position. Other major players, such as Cargill and Nestle, also have significant influence through their production of branded chocolate products and their supply of essential ingredients to various sectors, including the food and beverage industry.

Europe is the largest market for chocolate, holding about 35% of global market share. The region’s dominance is driven by its rich chocolate-making heritage, advanced manufacturing technologies, and proximity to cocoa-producing countries. North America and Southeast Asia follow closely, together accounting for another 35% of the market. In North America, chocolate is a staple indulgence, while Southeast Asia is emerging as a growing market, with increasing demand for premium and imported chocolate products driven by rising incomes and evolving consumer tastes.

Market Trends and Growth Drivers

Chocolate remains the largest segment within the broader cocoa-based product market, accounting for about 70% of total market share. The strong demand for chocolate is primarily driven by the confectionery sector, which consumes vast amounts of cocoa products for making chocolate bars, candies, and other sweet treats. As chocolate continues to be a favorite indulgence worldwide, its use extends beyond confectionery into the broader food and beverage industry. In addition to traditional sweets, chocolate is increasingly being incorporated into baked goods, dairy products, and beverages, adding flavor and richness to a variety of foods.

The cosmetics and pharmaceutical industries are also key areas of growth for chocolate. In the cosmetics sector, cocoa butter, a key ingredient in chocolate, is widely used for its moisturizing and skin-nourishing properties in beauty products such as lotions, lip balms, and creams. In pharmaceuticals, chocolate is used to improve the taste of medicinal tablets and supplements, broadening its application beyond confectionery and food.

Europe remains the leading consumer of chocolate products, driven by high demand for both everyday chocolates and premium, luxury brands. However, emerging markets in Asia, particularly in Southeast Asia, are witnessing growing demand for chocolate as Western-style products become more popular and accessible. With a growing middle class in countries like China and India, chocolate consumption in these regions is expected to rise significantly in the coming years, offering new growth opportunities for manufacturers.

The chocolate market does face challenges, such as fluctuations in cocoa prices, which can affect production costs and profit margins. Additionally, there is increasing pressure for companies to source cocoa sustainably and ensure ethical labor practices, particularly in regions like West Africa where much of the world’s cocoa is produced. Despite these hurdles, the chocolate market continues to grow steadily, supported by rising demand for both traditional and innovative chocolate products across the globe.

LP Information, Inc. (LPI) ' newest research report, the “Chocolate Industry Forecast” looks at past sales and reviews total world Chocolate sales in 2024, providing a comprehensive analysis by region and market sector of projected Chocolate sales for 2025 through 2031. With Chocolate sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Chocolate industry.

This Insight Report provides a comprehensive analysis of the global Chocolate landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Chocolate portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Chocolate market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Chocolate and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Chocolate.

This report presents a comprehensive overview, market shares, and growth opportunities of Chocolate market by product type, application, key manufacturers and key regions and countries.

Segmentation by Type:
Dark Chocolate
Milk Chocolate
Others

Segmentation by Application:
B2C
B2B

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analysing the company's coverage, product portfolio, its market penetration.
Barry Callebaut
Cargill
Nestle SA
Mars
Hershey
FUJI OIL
Puratos
NATRA
Ferrero
Mondelez
Clasen
Morde Foods
EUROCAO
DP Chocolates
Cocoa-linna
Apple Flavor & Fragrance Group
Shanghai Yicheng Food

Key Questions Addressed in this Report

What is the 10-year outlook for the global Chocolate market?

What factors are driving Chocolate market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Chocolate market opportunities vary by end market size?

How does Chocolate break out by Type, by Application?

Please note: The report will take approximately 2 business days to prepare and deliver.