Cocoa Powder Market Size Valued at USD 31.2 Bn by 2034

Overview

New York, NY – May 28, 2025 – The Global Cocoa Powder Market is set to grow significantly, driven by rising demand for chocolate-based products and healthy snacks. The market, valued at USD 19.7 billion in 2024, is expected to reach USD 31.2 billion by 2034, expanding at a CAGR of 4.7% from 2025 to 2034.

In 2024, Natural Cocoa Powder commanded a leading 47.5% share in the Cocoa Powder Market’s product type segment. Its popularity stems from a rich flavor profile, making it a staple in confectionery and bakery applications. Forastero held a commanding 76.9% share in the Cocoa Powder Market’s cocoa variety segment. Its widespread cultivation and high yield make it the go-to choice for global cocoa powder production.

Low-Fat (2-4%) Cocoa Powder held a dominant 67.3% share in the fat content segment of the Cocoa Powder Market. Ivory Coast accounted for a leading 46.8% share in the Cocoa Powder Market’s origin segment. The Food and Beverage sector held a commanding 67.2% share in the Cocoa Powder Market’s end-use segment. Cocoa powder’s extensive use in confectionery, bakery, dairy, and beverages drives this dominance, with chocolates, cakes, biscuits, and drinks leading demand.

US Tariff Impact on Cocoa Powder Market

On May 18, 2025, President Trump introduced Liberation Day tariffs, imposing 10% to 46% duties on imports from 15 of the top 20 coffee-producing nations, including Brazil (10%), Vietnam (46%), Colombia (10%), Indonesia (32%), and Ethiopia (10%). These countries dominate global coffee exports. Cocoa producers like Ivory Coast (21%), Ghana (10%), and Indonesia (32%) also face tariffs, as do chocolate products from Switzerland (31%), the EU (20%), and the UK (10%).

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Coffee prices, already at a record USD 7.38 per pound in March 2025 (up 84% from USD 4.30), are strained by poor harvests in Brazil and Vietnam. A 10% global tariff on U.S. coffee imports exists, with higher rates for nations like India, Indonesia, and Vietnam, though these are suspended for 90 days. The National Coffee Association highlights that 99% of U.S. coffee is imported, supporting 2.2 million jobs and generating USD 110 billion annually, with only 1% grown domestically in Hawaii and Puerto Rico.

Key Takeaways

• Global Cocoa Powder Market is expected to be worth around USD 31.2 billion by 2034, up from USD 19.7 billion in 2024, and grow at a CAGR of 4.7% from 2025 to 2034.
• Natural cocoa powder holds a significant 47.5% market share, driven by its versatile applications.
• Forastero cocoa variety dominates the market with a substantial 76.9% share, favored for robust flavor.
• Low-fat cocoa powder, with 2-4% fat content, commands a dominant 67.3% market share globally.
• Ivory Coast-origin cocoa powder represents 46.8% of the market, leveraging its extensive cocoa production capabilities.
• Food and beverage applications account for 67.2% of cocoa powder demand, driven by rising confectionery consumption.
• The 43.9% share underscores North America’s strong cocoa powder demand, totaling USD 8.6 billion.

Report Scope

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Key Market Segments

By Product Type Analysis

• In 2024, Natural Cocoa Powder commanded a leading 47.5% share in the Cocoa Powder Market’s product type segment. Its popularity stems from a rich flavor profile, making it a staple in confectionery and bakery applications. Growing consumer preference for natural, minimally processed ingredients continues to fuel its market growth. The health benefits of cocoa, particularly its antioxidant properties, have further boosted demand across various food and beverage products.
• The trend toward clean-label products is expected to sustain Natural Cocoa Powder’s dominance, solidifying its position as a market leader. Emerging markets in Asia-Pacific and Latin America present significant growth opportunities, driven by rising demand for natural cocoa-based products. This segment’s strong market presence reflects increasing consumer awareness and preference for premium, natural ingredients in the food and beverage industry.

By Cocoa Variety Analysis

• In 2024, Forastero held a commanding 76.9% share in the Cocoa Powder Market’s cocoa variety segment. Its widespread cultivation and high yield make it the go-to choice for global cocoa powder production. Forastero’s bold, robust flavor profile drives its demand in mass-market cocoa products.
• The variety’s resilience and disease resistance enable cost-effective production, enhancing its market penetration. This dominance is particularly evident in regions with major cocoa processing industries, where manufacturers prioritize cost-efficiency and consistent quality. Forastero’s favorable processing characteristics and high availability continue to sustain its market leadership, especially in bakery and confectionery applications. The variety’s critical role in meeting global cocoa powder demand ensures its position as a cornerstone of the cocoa processing industry.

By Fat Content Analysis

• In 2024, Low-Fat (2-4%) Cocoa Powder held a dominant 67.3% share in the fat content segment of the Cocoa Powder Market. Rising consumer demand for healthier, lower-calorie options has positioned low-fat cocoa powder as a top choice for food and beverage applications. Its versatility in reduced-fat chocolate, bakery products, and nutritional supplements maintains its strong market appeal.
• Growing awareness of weight management and calorie reduction further drives demand, particularly among health-conscious consumers. The segment’s significant share is bolstered by its use in low-fat dairy, protein shakes, and dietary snacks. Manufacturers are capitalizing on this trend by offering low-fat cocoa powder variants, ensuring continued growth as health and wellness remain key consumer priorities.

By Origin Analysis

• In 2024, Ivory Coast accounted for a leading 46.8% share in the Cocoa Powder Market’s origin segment. As the world’s largest cocoa producer, the country benefits from robust production capabilities and high-quality cocoa beans, making it a primary supplier for cocoa powder manufacturers.
• Ivory Coast’s well-developed cocoa processing infrastructure and competitive pricing ensure a steady supply to meet global demand. Favorable climatic conditions and extensive cocoa plantations further strengthen its market dominance. As demand for cocoa powder grows, particularly in emerging markets, Ivory Coast’s strong supply chain and expansive cultivation base position it to maintain its leadership in the global market.

By End Use Analysis

• In 2024, the Food and Beverage sector held a commanding 67.2% share in the Cocoa Powder Market’s end-use segment. Cocoa powder’s extensive use in confectionery, bakery, dairy, and beverages drives this dominance, with chocolates, cakes, biscuits, and drinks leading demand. The sector benefits from growing consumer preference for cocoa-infused products, particularly in regions with established chocolate industries.
• The rising popularity of nutritional supplements, protein shakes, and functional foods further boosts cocoa powder’s demand. Premium cocoa-based products, fueled by increasing disposable incomes and evolving consumer tastes, reinforce the segment’s leadership. The global expansion of the food and beverage industry and growing penetration in emerging markets ensure the sector’s continued dominance.

Regional Analysis

• North America leads with a 43.9% share, valued at USD 8.6 billion. In 2024, North America dominated the Cocoa Powder Market, driven by robust demand for cocoa-based products, particularly in the United States and Canada, where chocolate consumption is significant. The region’s strong market position is supported by its large consumer base and well-established cocoa product manufacturing sector.
• Europe trails closely, fueled by its prominent confectionery industry and growing demand for premium cocoa powder in bakery and dairy applications. The region’s focus on high-quality cocoa products sustains its strong market presence. Asia Pacific shows rapid growth, propelled by rising disposable incomes and an expanding chocolate processing industry in countries like China and India. Increasing consumer preference for cocoa-based products drives this region’s market expansion.
• Latin America capitalizes on its role as a major cocoa-producing region, utilizing its robust cocoa bean production to meet both domestic and global cocoa powder demand. The region’s production capabilities strengthen its market contribution. The Middle East & Africa experience steady growth, supported by increasing consumer awareness of cocoa powder’s health benefits and the growing bakery and confectionery sectors.

Top Use Cases

• Confectionery Production: Cocoa powder is a core ingredient in chocolates, truffles, and candies, delivering rich flavor and smooth texture. Its widespread use in confectionery drives demand, especially for natural and low-fat variants, as consumers seek indulgent yet healthier treats. The global chocolate market’s growth further boosts cocoa powder’s application in this sector.
• Bakery Applications: Cocoa powder enhances cakes, brownies, cookies, and pastries with its deep chocolatey taste. It’s popular in both commercial and home baking, with low-fat options appealing to health-conscious consumers. The rising trend of premium baked goods and home baking kits fuels its demand in the bakery industry.
• Beverage Manufacturing: Cocoa powder is widely used in hot chocolate, milkshakes, and flavored milk drinks. Its versatility in instant beverage mixes and coffee shop menus drives market growth. The increasing popularity of functional beverages, like protein shakes with cocoa, supports their use in the beverage sector globally.
• Dairy Product Enhancement: Cocoa powder adds flavor to ice creams, yogurts, and chocolate-flavored dairy products. Its role in creating rich, creamy textures makes it a staple in dairy manufacturing. The demand for low-fat and natural cocoa powder aligns with consumer preferences for healthier dairy options, boosting its market presence.
• Nutritional Supplements: Cocoa powder is incorporated into protein powders, energy bars, and health supplements due to its antioxidant properties. Its natural appeal attracts fitness enthusiasts seeking clean-label products. The growing health and wellness trend, especially in North America and Europe, drives its use in functional foods and dietary products.

Recent Developments

1. Barry Callebaut

• Barry Callebaut launched its “Forever Chocolate” initiative to make sustainable chocolate the norm by 2025. The company introduced carbon-neutral cocoa powder and expanded its plant-based chocolate offerings to meet rising vegan demand. They also partnered with farmers to improve cocoa traceability and reduce deforestation.

2. Belcolade (Puratos Group)

• Belcolade introduced organic and single-origin cocoa powders, emphasizing sustainability and premium quality. Their “Cacao-Trace” program ensures full traceability from bean to powder. They also developed low-fat cocoa powders for healthier bakery and beverage applications.

3. Blommer Chocolate Company

• Blommer expanded its sustainably sourced cocoa powder range, focusing on West African farms. They launched high-flavanol cocoa powders for functional foods and beverages. The company also invested in energy-efficient processing to reduce its carbon footprint.

4. Cargill

• Cargill introduced Gerkens cocoa powders with enhanced solubility for beverages and dairy alternatives. They also strengthened their “Cargill Cocoa Promise” program, supporting ethical sourcing and farmer livelihoods. Innovations include customizable cocoa powders for industrial food manufacturers.

5. The Hershey Company

• Hershey committed to 100% certified sustainable cocoa by 2025. They launched dark cocoa powders with higher antioxidant content for health-conscious consumers. Hershey also invested in West African cocoa communities to improve farming practices.

Conclusion

The Cocoa Powder Market is thriving, driven by strong demand for natural, low-fat, and sustainable products across food, beverage, and wellness sectors. North America leads with a robust consumer base, while Asia-Pacific and Latin America show rapid growth. Hershey’s commitment to 100% certified sustainable cocoa by 2025 and innovative dark cocoa powders highlights the industry’s focus on health and sustainability, ensuring continued market expansion.

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