U.S. Cocoa Market Size, Share, Demand and Forecast Analysis 2034

U.S. Cocoa Market Size, Share and Regional Forecast 2034

The U.S. cocoa market size was valued at USD 3.98 billion in 2024 and is expected to grow steadily from USD 4.30 billion in 2025 to reach nearly USD 8.67 billion by 2034, with a CAGR of 8.10% during the forecast period from 2025 to 2034. Consumer demand for the premium chocolate coupled with rising health awareness significantly driving the market.

Key Highlights

• By product, cocoa beans segment held the major market share in 2024. The rising appetite for chocolate goods is a key factor influencing the cocoa beans segment. 
• By product, cocoa butter segment is expected to grow at a CAGR in between 2025 and 2034. The main factors behind this growth during forecast period are the rising consumer demand for premium and organic chocolate items.
• By application, food and beverages segment contributed the biggest market share in 2024. The increasing demand for high-quality and gourmet food and drinks is boosting the popularity of cocoa. 
• By application, cosmetics segment is expanding at a significant CAGR in between 2025 and 2034. Cocoa includes vitamins and minerals that aid in nourishing and hydrating the skin, fostering a smooth and elastic appearance, such properties of cocoa contributing for the demand of cocoa in cosmetics segment. 

Industry Coverage

Demand for the Premium Chocolate: Expanding the U.S. Cocoa Market 

Cocoa, rich in antioxidants, flavonoids, and nutrients, is becoming more frequently employed as an ingredient in functional foods, cosmetics, and pharmaceuticals. The expansion of the cocoa industry is primarily fueled by increasing demand for natural components in food and drinks as well as the premium or artisanal chocolate segment. With the growing demand for cocoa components across confectionery, bakery, dairy, and beverage sectors, producers are boosting their output accordingly. A significant element fueling this expansion is the rising demand for chocolate items crafted from premium cocoa.

In the US, 80% of shoppers bought chocolate-based sweets in the last year, motivated by their flavor, indulgence, convenience, and luxury appeal. Almost 40% consume it over once weekly. The increasing demand for dark chocolate, which has a higher cocoa content, intensifies as health-aware consumers look for items believed to offer health advantages. Increasing recognition of the health advantages linked to cocoa, especially dark chocolate, is driving market expansion. Buyers are progressively looking for items that provide practical advantages, like antioxidants and enhanced cardiovascular health. 

What are the Key Trends in the U.S. Cocoa Market? 

• Consumers are increasingly focused on the source and quality of ingredients, enhancing the demand for high-end cocoa. Health factors are significant, as dark chocolate rich in cocoa is viewed as beneficial to health.
• Cocoa market manufacturers have reacted to increasing consumer demand for ethical and sustainable sourcing, fueling market expansion. Businesses are progressively embracing certification initiatives like Fair Trade and Rainforest Alliance, which guarantee improved wages and working conditions for cocoa growers. This change has drawn ethically aware consumers, increasing the cocoa market share in recent years. 
• Industries in United States are taking various initiatives for the sustainable production of cocoa. The Cargill Cocoa Promise™ program is an approach to help farmers, and their communities attain improved incomes and living conditions while cultivating cocoa in a sustainable manner. Furthermore, Nestlé has partnered with two suppliers, Cargill and ETG- Beyond Beans, to initiate two projects that employ agroforestry to restore land near cocoa farms and reduce carbon emissions in its supply chains. 
• There is an increasing demand for organic cocoa, which is projected to keep growing in the upcoming years. There is a growing recognition among food producers and consumers regarding the advantages of organic products. 
• Governments, NGOs, and private enterprises are funding infrastructure initiatives that enhance the effectiveness of cocoa transportation and commerce. These investments lower expenses and enhance supply dependability, rendering the cocoa market more appealing to international purchasers.

Market Opportunity 

Demand for the Single Origin Cocoa: Market to Expand Rapidly 

The availability of high-quality, single-origin cocoa items has also increased the size of the cocoa market, thereby propelling the cocoa industry forward. Consumers are increasingly drawn to distinctive flavors linked to areas, resulting in greater demand for premium, specialty cocoa. This trend provides businesses the opportunity to stand out by emphasizing high-end products with unique flavor profiles, enhancing value growth in the market. Key participants in the U.S. Cocoa and Chocolate market are investing in R&D efforts to enhance market demand. 

Market Challenge

Climate Change: Challenging the U.S. Cocoa Market

Climate change significantly contributes to the cocoa shortage. Changing and unfavourable weather trends have caused erratic temperature extremes and fluctuating rainfall, affecting cocoa trees that are especially susceptible to these issues. Such fluctuation in the climate further contributes to the higher prices of cocoa. 

Segmental Insights 

Product Insights

Which Product Segment Dominated the U.S. Cocoa Market in 2024?

Cocoa beans segment dominated the market with the largest share in 2024. The rising appetite for chocolate goods is a key factor influencing the cocoa beans segment. As consumer tastes change, there is a marked trend towards luxurious and high-end chocolate items, which directly drives the need for superior cocoa beans. This trend is especially noticeable in advanced areas like U.S., where buyers are eager to spend more for gourmet and artisanal chocolates. Technological innovations in farming techniques and agricultural methods offer considerable prospects for the U.S. cocoa beans, promoting growth and sustainability in production. 

• Exports of cocoa beans from the United States in 2023, whether whole or broken, raw or roasted, totaled $31,506.04K with a quantity of 9,376,830Kg. The United States sent Cocoa beans, whole or crushed, either raw or roasted to Belgium ($1,639.60K, 504,000 Kg), Canada ($28,280.91K, 8,394,560 Kg), Netherlands ($481.84K, 158,929 Kg), Estonia ($374.02K, 111,850 Kg), Germany ($401.50K, 124,241 Kg). (Source: WITS-world integrated Trade Solution)

Cocoa Butter Segment is Observed to Grow at the Fastest Rate During the Forecast Period. 

The main factors behind this growth during forecast period are the rising consumer demand for premium and organic chocolate items, as well as the expanding use of cocoa butter in the cosmetics and personal care sectors. The segment of cocoa butter in the U.S. is flourishing due to the advanced confectionery industry and the growing demand for natural and organic personal care items that utilize cocoa butter for its hydrating properties. Additionally, cocoa butter has been utilized for its antioxidant properties, which contributes to its increasing consumption across various industries. 

Application Insights 

Which Application Segment Held the Largest Share of the U.S. Cocoa Market?

Food and beverages segment held the largest share of the market in 2024. The increasing demand for high-quality and gourmet food and drinks is boosting the popularity of cocoa. Cocoa powder is the most frequently utilized powder in drinks like hot chocolate, iced coffee, etc. In addition to beverages, it also serves as an excellent flavoring ingredient in items such as ice cream, cookies, cakes, bread spreads, and confections. It enhances both color and flavor. Cocoa-based drinks boast enhanced color, aroma, and flavor appeal that entices children. The production and consumption of cocoa-based drinks with various substitutes referred to as ready-to-drink cocoa beverages and chocolate beverages are rising daily.

Cosmetics Segment is Seen to Grow at a Notable Rate During the Predicted Timeframe.

Cocoa is abundant in antioxidants like flavonoids and polyphenols, which aid in shielding the skin from oxidative stress and UV harm. It includes vitamins and minerals that aid in nourishing and hydrating the skin, fostering a smooth and elastic appearance. Cocoa extract boasts a rich aroma and smooth feel, making it a favored component in skincare items due to its lavish sensory appeal. The natural hue of cocoa powder serves as a colorant in specific cosmetics, particularly in organic or plant-derived beauty ranges. Palmer’s is one of the oldest skin and hair care brands produced in the U.S. use cocoa in their different formulations. 

Recent Developments in the U.S. Cocoa Market

Palmer's®

• Launch: In September 2024, Palmer's®, a top brand in skin and hair care, unveiled three innovative new products that will elevate your skincare regimen into a complete 360° glow up. Presenting Cocoa Butter Formula Shimmer Radiance Body Gloss, Cocoa Butter Formula® Shimmer Radiance Body Oil, and Coconut Oil Formula® Brazilian Coco Body Cream. (Source: GlobeNewswire-Palmer's)

Mondelēz International

• Investment: In December 2024, the venture capital branch of Mondelēz International, SnackFutures Ventures, was one of the investors involved in a $4.5 million funding round for Celleste Bio, a manufacturer of cell-cultured cocoa ingredients. Supply Change Capital spearheaded the investment. (Source: FOODDIVE)

U.S. Cocoa Market Leading Companies

• The Barry Callebaut Group
• JB Foods Limited
• Archer Daniels Midland Company
• Cargill Incorporated
• Ciranda, Inc.
• Nestle S.A
• Mars, Inc.
• (Kind LLC)
• Meiji Holdings Co.Ltd.
• Olam International Limited
• The Hershey Company (Hershey Trust Company)

Segments Covered in the Report

By Product

• Cocoa Beans
• Cocoa Powder & Cake
• Cocoa Butter
• Chocolate
• Others

By Application

• Confectionery
• Food & Beverages
• Cosmetics
• Pharmaceutical