Chocolate Market Report 2025

The chocolate market size has grown steadily in recent years. It will grow from $140.97 billion in 2024 to $147.09 billion in 2025 at a compound annual growth rate (CAGR) of 4.3%. The growth in the historic period can be attributed to cultural significance of chocolate, globalization and accessibility, advertising and branding, rising disposable income, product innovation and variety, gift-giving tradition.

The chocolate market size is expected to see steady growth in the next few years. It will grow to $176.92 billion in 2029 at a compound annual growth rate (CAGR) of 4.7%. The growth in the forecast period can be attributed to premiumization and artisanal offerings, sustainable and ethical sourcing, innovations in chocolate formats, functional ingredients and claims, global economic trends. Major trends in the forecast period include introduction of functional and healthy ingredients, innovative flavor combinations and infusions, customization and personalization, digitalization in marketing and sales,shift towards dark chocolate and healthier alternatives.

The anticipated rise in internet penetration for online sales is poised to be a significant driver for the growth of the chocolate market in the future. Internet penetration rate, reflecting the percentage of individuals with internet access, plays a crucial role in online chocolate sales. The internet has transformed traditional retail and mail-order sales, providing a platform for online distribution and interaction. Social media platforms have further added a personal touch to online experiences. According to a report by DataReportal, as of the beginning of 2023, 5.16 billion people globally use the internet, constituting 64.4% of the global population. Internet users continue to grow, with a global increase of 100 million users in the 12 months leading up to January 2023. Additionally, data from Optinmonster in January 2022 highlighted the rapid expansion of online shopping, projecting the global online shopping market to surpass $4 trillion by 2020. In the United States, an estimated 300 million online shoppers are anticipated by 2023, encompassing 91% of the country's current population. With 69% of Americans already engaging in online shopping and 25% making monthly online purchases, the surge in internet penetration is a driving force behind the growth of the chocolate market.

The rising demand for chocolate snacks is anticipated to drive the growth of the chocolate market in the coming years. Chocolate snacks encompass a wide range of delightful treats that combine the rich, indulgent flavor of chocolate with various ingredients and forms, including chocolate-covered biscuits, almonds, and truffles. Chocolate is utilized in these snacks as coatings, fillings, layers, and flavorings, allowing for a variety of options that cater to different tastes and preferences, from simple coated bites to intricate layered confections. For example, in March 2024, the National Confectioners Association, a US-based trade organization, published the 2024 State of Treating report, which stated that US confectionery sales reached $48 billion in 2023, largely driven by inflation. The report also forecasts that U.S. confectionery sales will see significant growth, projected to reach $61 billion by 2028. Consequently, the increasing demand for chocolate snacks is propelling the chocolate market forward.

Product innovations are emerging as a significant trend in the chocolate market. Leading companies are concentrating on developing new products to enhance their market positions. For example, in April 2023, Barry Callebaut Group, an India-based manufacturer of premium chocolates, launched Ruby chocolate baking chips in the North American market. Ruby chocolate, characterized by its unique pink hue and fruity flavor, was developed by Barry Callebaut and has garnered global popularity. By introducing Ruby chocolate in baking chips, Barry Callebaut aims to bolster its presence in the premium chocolate segment, providing a distinctive and innovative option for both consumers and bakers, thereby further expanding its footprint in the growing North American chocolate market.

Prominent companies in the chocolate market are embracing a strategic partnership approach to create an enticing array of sweets crafted from real fruit. Strategic partnerships involve leveraging the strengths and resources of collaborating entities for mutual benefits and success. An exemplar of this strategy unfolded in May 2023 when The Hershey Company, a leading US-based chocolate and snack company, announced a partnership with Ocean Spray Cranberries, Inc. The collaboration aimed to introduce a new product line featuring delicious snacks made from real fruit. The snack collection includes milk chocolate-covered cranberry bites and dark chocolate-coated cherry-infused cranberry bites, offering a delightful surprise to the taste buds. Packaged in multi-serve lockable pouches of 5oz and 8oz sizes, these snacks cater to on-the-go munching for the entire family. Additionally, they are perfect for creating trail mix or adding a delectable touch to ice cream. Ocean Spray Cranberries, Inc., the partner in this venture, is a cooperative of farmers based in the US specializing in cranberry cultivation.

In June 2023, Puratos, a Belgium-based supplier of ingredients for bakers and chocolatiers, acquired Foley's Chocolates. This acquisition strengthens Puratos's market share and manufacturing capabilities in North America, positioning Foley's as the second-largest chocolate producer in Canada. The deal enables Puratos to broaden its chocolate portfolio by incorporating innovative plant-based and health-oriented products. Foley's Chocolates is a Canadian chocolate manufacturer.

Major companies operating in the chocolate market include Barry Callebaut, The Hershey Company, Nestle SA, Mars Incorporated, Lotte Corporation, Mondelez International Inc., Chocoladefabriken Lindt & Sprüngli AG, Ferrero SpA, Lake Champlain Chocolates, Cémoi Group, Olam International Limited, Koninklijke DSM N.V., Kerry Group PLC, Delfi Limited, Tate & Lyle PLC, Meiji Holdings Co. Ltd., Ezaki Glico Co. Ltd., Crown Confectionery Co. Ltd., Haribo GmbH & Co. KG, Arcor Group, Moonstruck Chocolate Company, Blommer Chocolate Company, Patric Chocolate LLC, Perugina S.p.A., TCHO Ventures Inc., Theo Chocolate Inc., Thorntons Limited, Alter Eco Americas PBC, Endangered Species Chocolate LLC, Divine Chocolate Limited, Green & Black's Limited, Guylian NV.

Europe was the largest region in the chocolate market in 2024. The regions covered in the chocolate market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the chocolate market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Chocolate is derived from roasted, husked, and ground cacao seeds, often sweetened and flavored, commonly with ingredients such as vanilla. It is utilized in the production of beverages, as a flavoring agent, or for coating various confections and baked goods. Dark chocolate is recognized for its ability to lower blood pressure, protect the skin from dehydration, promote heart health, and provide numerous other benefits.

The primary types of chocolate confectionery are milk chocolate, dark chocolate, and white chocolate, which fall into categories including premium, seasonal, and everyday varieties. Milk chocolate is a type of chocolate made from cocoa, sugar, and milk, commonly found in chocolate bars and various confectionery items. These products are distributed through a variety of channels such as supermarkets, hypermarkets, convenience stores, pharmaceutical and drug stores, specialty stores, duty-free shops, e-commerce platforms, and other retail outlets.

The chocolate market research report is one of a series of new reports that provides chocolate market statistics, including chocolate industry global market size, regional shares, competitors with a chocolate market share, detailed chocolate market segments, market trends and opportunities, and any further data you may need to thrive in the chocolate industry. This chocolate market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The chocolate market consists of sales of cocoa butter, cocoa liquor and cocoa powder. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

This product will be delivered within 3-5 business days.