Global Market Report: Cocoa

The global cocoa market is projected to grow at a CAGR of 7.3% from 2019 to 2025, driven by demand in Western Europe, North America, and emerging Asian economies. While VSS-compliant cocoa grew significantly between 2008 and 2016, the sector faces long-term supply risks from ageing trees, climate change, and systemic poverty. The report highlights the potential for VSS expansion in LHDCs, particularly in Côte d’Ivoire, Nigeria, and Togo, to improve farmer livelihoods and environmental outcomes.

• The global cocoa beans market is expected to grow at a compound annual growth rate (CAGR) of 7.3 per cent from 2019 to 2025, reaching a value of USD 16.32 billion.
• Demand for cocoa is increasing in traditional markets like Western Europe and North America for health-focused and premium products, while emerging economies such as China, Mexico, Indonesia, Turkey, and India are seeing growth due to rising GDP per capita.
• VSS-compliant cocoa production grew at a CAGR of approximately 46 per cent from 2008 to 2016, representing at least 29 per cent of total global production in 2016.
• Significant supply-side risks threaten long-term growth, including ageing trees that reduce yields, rising temperatures in West Africa that may trigger deforestation, and systemic poverty affecting the majority of producers.
• Income disparity is a persistent issue; cocoa farmers in Ghana and Côte d’Ivoire earn only 3 to 6 per cent of the retail market value of chocolate bars.
• Low Human Development Countries (LHDCs) produced 43 per cent of total cocoa and 61 per cent of VSS-compliant cocoa in 2016. Côte d’Ivoire, Nigeria, and Togo are identified as having the most potential for maximizing sustainable development outcomes through VSS expansion.

APA

Voora, V., Bermúdez, S., & Larrea, C. (2019). Global Market Report: Cocoa. International Institute for Sustainable Development. https://www.iisd.org/system/files/publications/ssi-global-market-report-cocoa.pdf

Chicago

Voora, Vivek, Steffany Bermúdez, and Cristina Larrea. Global Market Report: Cocoa. International Institute for Sustainable Development, 2019. https://www.iisd.org/system/files/publications/ssi-global-market-report-cocoa.pdf.

Wikipedia

{{cite report |last1=Voora |first1=Vivek |last2=Bermúdez |first2=Steffany |last3=Larrea |first3=Cristina |title=Global Market Report: Cocoa |publisher=International Institute for Sustainable Development |date=2019 |url=https://www.iisd.org/system/files/publications/ssi-global-market-report-cocoa.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{voora2019global, author = {Voora, Vivek and Bermúdez, Steffany and Larrea, Cristina}, title = {{Global Market Report: Cocoa}}, institution = {International Institute for Sustainable Development}, year = {2019}, url = {https://www.iisd.org/system/files/publications/ssi-global-market-report-cocoa.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }