June 2025
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.
Study Coverage | Details |
Growth Rate from 2025 to 2034 | CAGR of 8.10% |
Market Size in 2025 | USD 4.30 Billion |
Market Size in 2026 | USD 4.65 Billion |
Market Size by 2034 | USD 8.67 Billion |
Base Year | 2024 |
Forecast Period | 2025 to 2034 |
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.
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.
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.
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.
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.
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.
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