Global Cocoa Processing Market Expected to Reach USD 16.5 Billion by 2033 - IMARC Group

Global Cocoa Processing Market Statistics, Outlook and Regional Analysis 2025-2033

The global cocoa processing market size was valued at USD 15.5 Billion in 2024, and it is expected to reach USD 16.5 Billion by 2033.

The increasing demand for chocolate and various confectionery products is one of the major drivers boosting the cocoa processing market growth. As per an industry report by IMARC Group, the market for chocolate is growing rapidly and is expected to reach US$ 50.6 billion by 2032. Moreover, the rising disposable income of individuals in emerging nations that empower them to access and enjoy chocolate products, is enhancing the market growth. For instance, the per capita disposable income of Indian citizens grew 8% in FY24 and 13.3% in FY23, leading to increased consumption and demand for chocolate products. Cocoa processing is essential for producing chocolate in its various forms, such as a base ingredient or refined chocolate for final products. Along with this, the rising demand for processed cocoa in the food and beverage (F&B) industry is contributing to the market growth. Furthermore, the increasing incorporation of cocoa products, such as cocoa powder and cocoa butter, into a variety of food and drink items, including bakery goods, ice creams, dairy-based products, and beverages like cocoa-infused drinks and flavored coffee, is fueling the expansion of the market.

The development of automated processing systems, advanced drying techniques, and precision grinding equipment that allow manufacturers to improve the consistency and flavor profile of cocoa products while minimizing waste is also fostering the market growth. These technological improvements enable producers to meet the high standards set by international quality certifications and regulations. Furthermore, the ongoing shift towards health and wellness products that lead to the consumption of products, such as dark chocolate, as they are perceived as healthier, is catalyzing the market growth. Along with this, the rising awareness among consumers about the nutritional benefits of dark chocolate, as it is rich in antioxidants and flavonoids that offer cardiovascular and cognitive benefits, is fueling the market growth. As per an industry report, it has been found that most dark chocolate products contain between 70 and 85% cocoa, creating the need for effective cocoa processing equipment to bolster cocoa production.

Global Cocoa Processing Market Statistics, By Region

The market research report has also provided a comprehensive analysis of all the major regional markets, which include Europe, Africa, North America, Latin America, and Asia Pacific. According to the report, Europe accounted for the largest market share on account of the increasing consumption for chocolate, heightened focus on sustainability, and the presence of major cocoa producers.

Europe Cocoa Processing Market Trends:

Europe accounted for the largest share of the cocoa processing market, driven by its rich history of chocolate consumption and production. In 2023, 867,000 tonnes of chocolate and chocolate bars were exported by the European Union (EU) members to countries outside the region, thus marking a 2% increase compared with 2022. Moreover, the presence of renowned chocolate manufacturers and confectionery brands, which contribute significantly to the demand for high-quality processed cocoa, is fueling the market growth. Additionally, the increasing focus on sustainability and ethical sourcing that aligns with consumer demand for transparent and high-standard products is enhancing the market growth.

Africa Cocoa Processing Market Trends:

Africa’s market for cocoa processing is growing as it is a leading producer of cocoa beans. Moreover, the increasing investment in cocoa processing facilities as governments and private sector companies aim for added value through local processing, is catalyzing the market growth. Along with this, the growing demand for chocolate and cocoa-based products locally and internationally is fueling the market growth.

North America Cocoa Processing Market Trends:

North America's cocoa processing market is driven by the region's high consumption of chocolate and confectionery products. Moreover, the increasing demand for premium and craft chocolate, which emphasizes quality and unique flavor profiles, is boosting the market growth. Additionally, the growing focus on sustainable and ethically sourced cocoa, prompting major companies to partner with certified suppliers and invest in transparent supply chain practices, is favoring the market growth.

Latin America Cocoa Processing Market Trends:

Latin America's cocoa processing market is growing due to its role as a major producer of cocoa beans. Additionally, the increasing proximity of the region to raw materials and a growing emphasis on value-added production are fostering the market growth. Besides this, the rising investment in local cocoa processing to boost economic value and improve export opportunities is fueling the market growth.

Asia-Pacific Cocoa Processing Market Trends:

The Asia Pacific region is witnessing rapid growth in the cocoa processing market, fueled by rising urbanization, economic development, and evolving consumer preferences. Along with this, the expanding middle-class population and growing disposable income levels in the region are contributing to the market growth.

Top Companies Leading in the Cocoa Processing Industry

Some of the leading cocoa processing market companies include Guan Chong Bhd, Ecom Agroindustrial Corp. Limited, Nestlé SA, Barry Callebaut Group, Blommer Chocolate Company, Mondelez International, Inc., Cargill Incorporated, Olam International, and Touton S.A., among many others.

In October 2024, Guan Chong Berhad (GCB) signed a memorandum of understanding (MoU) to acquire a 25% stake in Transcao Côte d'Ivoire, a cocoa processing company in Cote d’Ivoire. The move follows the inauguration of GCB’s first African cocoa bean grinding plant with a capacity of 60,000 tonnes. The processing beans in Cote d’Ivoire allows GCB to shorten the beans-to-ingredients cycle, mitigate supply chain risks, and offer enhanced control over production and shipping schedules.

Global Cocoa Processing Market Segmentation Coverage

• On the basis of the bean type, the market has been categorized into forastero, criollo, and trinitario, wherein forastero represent the leading segment. These beans are widely cultivated due to their hardy nature and higher yield that make them cost-effective for large-scale cocoa production. Moreover, their robust flavor profile is preferred in bulk chocolate manufacturing, contributing to their dominant share in the market.
• Based on the product type, the market is classified into cocoa butter, cocoa liquor, and cocoa powder, amongst which cocoa liquor dominates the market, as it serves as a fundamental ingredient in the production of chocolate and various cocoa-based products. Moreover, its versatility in multiple applications, including confectionery, beverages, and baking, is fueling the market growth.
• On the basis of the application, the market has been divided into confectionary, bakery, beverages, pharmaceuticals, and others. Among these, confectionary accounts for the majority of the market share, due to the extensive use of cocoa in chocolates, candies, and related treats. Along with this, the strong consumer demand for indulgent and premium chocolate products across the globe is fueling the market growth.

Browse IMARC Related Reports on Cocoa Processing Market:

• Nigeria Cocoa Processing Market Report