Insight by Abdul Wasay, Chief Operating Officer at The Business Research Company
In response to fluctuating tariffs and geopolitical trade developments, the Chocolate Market Outlook 2025 analyses how businesses are adapting through supply chain diversification and strategic sourcing.
How Will the Chocolate Market Grow Between 2024 and 2025?
The size of the chocolate market has consistently expanded over the recent years. In 2024, it was valued at $140.97 billion and is projected to increase to $145.94 billion in 2025. This represents a compound annual growth rate (CAGR) of 3.5%.
How Much Will the Chocolate Market Be Worth in 2029?
The Chocolate Global Market Report 2025 projects that by 2029, the chocolate market will reach a value of $175.52 billion, growing at a compound annual growth rate (CAGR) of 4.7%.
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Which Chocolate Market Drivers Are Linked to Revenue Growth?
The key drivers in the chocolate market are:
• The premiumization and artisanal offerings in the chocolate industry
• Consumer focus on sustainable and ethical sourcing
• Continuous innovations in chocolate formats and functional ingredients
• Digitalization in marketing and sales, and consumer shift towards healthier chocolate alternatives.
Which Segments Are Expected to Grow in the Chocolate Market?
The chocolatemarket covered in this report is segmented –
1) By Type: Milk Chocolate, Dark Chocolate, White chocolate
2) By Category: Premium, Seasonal, Everyday
3) By Distribution Channel: Supermarkets And Hypermarkets, Convenience Stores, Pharmaceutical And Drug Stores, Specialty Stores, Duty-Free Stores, E-commerce, Other Distribution Channels
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What Are The Key Trends Impacting Growth In The Global Chocolate Market?
The key trends in the chocolate market are:
• The trend of premiumization and artisanal offerings is shaping the future of chocolate market.
• The sector is also seeing a surge in ethical and sustainable sourcing efforts.
• Innovations in chocolate formats and functional ingredients are become increasingly prevalent.
• There's a burgeoning trend in digital marketing and sales along with customization and personalization.
Who Are the Key Competitors in the Global Chocolate Market?
Major players in the chocolate market are:
• 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
Where Is the Chocolate Market Growing Fastest Between 2025 and 2029?
Europe was the largest region in the chocolate confectionery market in 2024
