Manya Rathore
Research expert covering India
Cocoa industry - statistics & facts
In the 2023/2024 crop year, global cocoa production decreased by over 500,000 tons in comparison to the previous year. This resulted in a big spike in cocoa prices across the world. As of 2024, the price per kilogram of cocoa was over seven U.S. dollars, which was double the average price in 2023.
Leading cocoa producers
Over 70 percent of the world鈥檚 cacao is grown in Africa. In 2023/2024, the production of cocoa beans in Africa was estimated to be approximately 3.2 million metric tons, more than half of which, around 1.8 million tons, was produced in the Ivory Coast. In the 2023/2024 crop years, cocoa beans output in Ghana and Ivory Coast declined significantly due to unsustainable agricultural practices and deforestations, adverse weather, and an outbreak of pests. This caused instability in both cocoa and chocolate markets across the world. At the beginning of 2025, monthly prices for cocoa rose to record highs. In fact, in January of that year, prices for cocoa reached approximately 11 U.S. dollars per kilogram. While cocoa price inflation has slowed down since, the market remains volatile.Cocoa processing
The Netherlands and C么te d'Ivoire are the two biggest processors of cocoa beans worldwide. In the fiscal year of 2024/25, C么te d'Ivoire processed approximately 730,000 tons of cocoa beans. Alone in Europe over 1.4 million tons of cocoa beans were processed in 2024. In that year, Mondel膿z Confectionery was the second leading chocolate and cocoa manufacturer worldwide, with net sales of 36 billion U.S. dollars. Mars Wrigley and Ferrero Group rounded out the top three companies, both exceeding 19 billion U.S. dollars in net sales. As of August 2024, Mars announced its merger with giant salty snacks company Kellanova (formerly Kellogs). This merger appears to be a strategic move by Mars to enter the non-confectionary segment of the snack industry at a time of chocolate and cocoa market challenges. Diversifying beyond confectionery could be a smart move for brands to mitigate the impact of these global pricing pressures.
