The North America cocoa market was valued at USD 4.54 Billion in 2024. The industry is expected to grow at a CAGR of 3.80% during the forecast period of 2025-2034 to attain a valuation of USD 6.59 Billion by 2034.
North America Cocoa Market Growth
Cocoa liquor manufacturers in the United States are capitalising on the increasing demand for whiskey and Americans’ habitual chocolate consumption to manufacture bittersweet chocolate whiskeys with low sugar content. Moreover, the use of rare varieties of chocolate (such as Criollo) to make chocolate liquors without emulsifiers is gaining traction, which leaves a lasting taste on the tongue. This is expected to drive the consumption of cocoa liquors among consumers.
The increasing demand for speciality and sugar-free chocolates is prompting major market players to establish large-scale chocolate manufacturing facilities, boosting the demand for cocoa. In April 2022, Barry Callebaut announced an investment of $104 billion into the development of a new chocolate manufacturing facility in Ontario, Canada, with an annual production capacity exceeding 50,000 tonnes.
By gaining micro-market insights into chocolate consumption and preferences on a regional level, cocoa manufacturers can significantly enhance chocolate sales by designing customised product offerings and introducing unique tastes and toppings into their desserts.
North America Cocoa Industry Segmentation
North America Cocoa Market Report and Forecast 2025-2034 offers a detailed analysis of the market based on the following segments:
Market Breakup by Type
Cocoa Butter
Cocoa Powder
Cocoa Liquor
Market Breakup by Application
Food and Beverages_x000D_ _x000D_ Confectionery _x000D_ Dairy _x000D_ Bakery _x000D_ Others _x000D_ _x000D_
Food and Beverages_x000D_ _x000D_ Confectionery _x000D_ Dairy _x000D_ Bakery _x000D_ Others _x000D_ _x000D_
Cosmetics and Pharmaceuticals
Others
Cosmetics and Pharmaceuticals
Others
Market Breakup by Country
United States of America
Canada
North America Cocoa Market Share
Based on application, the market can be segmented into food and beverages, and cosmetics and pharmaceuticals, among others. The application of cocoa in the food and beverages sector is expected to rise in the forecast period, as cocoa enjoys great appeal among chocolate manufacturers and small restaurants. High consumer disposable incomes are expected to offsetchocolateprice increases by major manufacturers, thereby leading to the market growth.
Leading Companies in the North America Cocoa Market
The report provides a detailed analysis of the following key players in the market, covering their competitive landscape and latest developments like mergers and acquisitions, investments, and capacity expansion.
Cargill Inc.
Barry Callebaut AG
Hershey Co.
Nestle S.A.
Mondelez International, Inc.
BASF SE
Buhler AG
Ferrero International S.A.
Olam International Ltd.
Blommer Chocolate Co.
Canada Cacao Company Inc.
Others
Market players are launching chocolate with high cocoa content amid the increasing awareness regarding the health benefits of cocoa.
- 1 Executive Summary
- 1.1 Market Size 2024-2025
- 1.2 Market Growth 2025(F)-2034(F)
- 1.3 Key Demand Drivers
- 1.4 Key Players and Competitive Structure
- 1.5 Industry Best Practices
- 1.6 Recent Trends and Developments
- 1.7 Industry Outlook
- 2 Market Overview and Stakeholder Insights
- 2.1 Market Trends
- 2.2 Key Verticals
- 2.3 Key Countries
- 2.4 Supplier Power
- 2.5 Buyer Power
- 2.6 Key Market Opportunities and Risks
- 2.7 Key Initiatives by Stakeholders
- 3 Economic Summary
- 3.1 GDP Outlook
- 3.2 GDP Per Capita Growth
- 3.3 Inflation Trends
- 3.4 Democracy Index
- 3.5 Gross Public Debt Ratios
- 3.6 Balance of Payment (BoP) Position
- 3.7 Population Outlook
- 3.8 Urbanisation Trends
- 4 Country Risk Profiles
- 4.1 Country Risk
- 4.2 Business Climate
- 5 Global Cocoa Market Overview
- 5.1 Key Industry Highlights
- 5.2 Global Cocoa Historical Market (2018-2024)
- 5.3 Global Cocoa Market Forecast (2025-2034)
- 5.4 Global Cocoa Market Share by Region
- 5.4.1 North America
- 5.4.2 Europe
- 5.4.3 Asia Pacific
- 5.4.4 Latin America
- 5.4.5 Middle East and Africa
- 6 North America Cocoa Market Overview
- 6.1 Key Industry Highlights
- 6.2 North America Cocoa Historical Market (2018-2024)
- 6.3 North America Cocoa Market Forecast (2025-2034)
- 7 North America Cocoa Market by Type
- 7.1 Cocoa Butter
- 7.1.1 Historical Trend (2018-2024)
- 7.1.2 Forecast Trend (2025-2034)
- 7.2 Cocoa Powder
- 7.2.1 Historical Trend (2018-2024)
- 7.2.2 Forecast Trend (2025-2034)
- 7.3 Cocoa Liquor
- 7.3.1 Historical Trend (2018-2024)
- 7.3.2 Forecast Trend (2025-2034)
- 8 North America Cocoa Market by Application
- 8.1 Food and Beverages
- 8.1.1 Historical Trend (2018-2024)
- 8.1.2 Forecast Trend (2025-2034)
- 8.1.3 Breakup By Type
- 8.1.3.1 Confectionery
- 8.1.3.2 Dairy
- 8.1.3.3 Bakery
- 8.1.3.4 Others
- 8.2 Cosmetics and Pharmaceuticals
- 8.2.1 Historical Trend (2018-2024)
- 8.2.2 Forecast Trend (2025-2034)
- 8.3 Others
- 9 North America Cocoa Market by Country
- 9.1 United States of America
- 9.1.1 Historical Trend (2018-2024)
- 9.1.2 Forecast Trend (2025-2034)
- 9.2 Canada
- 9.2.1 Historical Trend (2018-2024)
- 9.2.2 Forecast Trend (2025-2034)
- 10 Market Dynamics
- 10.1 SWOT Analysis
- 10.1.1 Strengths
- 10.1.2 Weaknesses
- 10.1.3 Opportunities
- 10.1.4 Threats
- 10.2 Porter’s Five Forces Analysis
- 10.2.1 Supplier’s Power
- 10.2.2 Buyer’s Power
- 10.2.3 Threat of New Entrants
- 10.2.4 Degree of Rivalry
- 10.2.5 Threat of Substitutes
- 10.3 Key Indicators of Demand
- 10.4 Key Indicators of Price
- 11 Value Chain Analysis
- 12 Trade Data Analysis (HS Code – 183, 1804, 1805)
- 12.1 Major Exporting Countries
- 12.1.1 By Value
- 12.1.2 By Volume
- 12.2 Major Importing Countries
- 12.2.1 By Value
- 12.2.2 By Volume
- 13 Price Analysis
- 14 Competitive Landscape
- 14.1 Supplier Selection
- 14.2 Key Global Players
- 14.3 Key Regional Players
- 14.4 Key Player Strategies
- 14.5 Company Profiles
- 14.5.1 Cargill Inc.
- 14.5.1.1 Company Overview
- 14.5.1.2 Product Portfolio
- 14.5.1.3 Demographic Reach and Achievements
- 14.5.1.4 Certifications
- 14.5.2 Barry Callebaut AG
- 14.5.2.1 Company Overview
- 14.5.2.2 Product Portfolio
- 14.5.2.3 Demographic Reach and Achievements
- 14.5.2.4 Certifications
- 14.5.3 Hershey Co.
- 14.5.3.1 Company Overview
- 14.5.3.2 Product Portfolio
- 14.5.3.3 Demographic Reach and Achievements
- 14.5.3.4 Certifications
- 14.5.4 Nestle S.A.
- 14.5.4.1 Company Overview
- 14.5.4.2 Product Portfolio
- 14.5.4.3 Demographic Reach and Achievements
- 14.5.4.4 Certifications
- 14.5.5 Mondelez International, Inc.
- 14.5.5.1 Company Overview
- 14.5.5.2 Product Portfolio
- 14.5.5.3 Demographic Reach and Achievements
- 14.5.5.4 Certifications
- 14.5.6 BASF SE
- 14.5.6.1 Company Overview
- 14.5.6.2 Product Portfolio
- 14.5.6.3 Demographic Reach and Achievements
- 14.5.6.4 Certifications
- 14.5.7 Buhler AG
- 14.5.7.1 Company Overview
- 14.5.7.2 Product Portfolio
- 14.5.7.3 Demographic Reach and Achievements
- 14.5.7.4 Certifications
- 14.5.8 Ferrero International S.A.
- 14.5.8.1 Company Overview
- 14.5.8.2 Product Portfolio
- 14.5.8.3 Demographic Reach and Achievements
- 14.5.8.4 Certifications
- 14.5.9 Olam International Ltd.
- 14.5.9.1 Company Overview
- 14.5.9.2 Product Portfolio
- 14.5.9.3 Demographic Reach and Achievements
- 14.5.9.4 Certifications
- 14.5.10 Blommer Chocolate Co.
- 14.5.10.1 Company Overview
- 14.5.10.2 Product Portfolio
- 14.5.10.3 Demographic Reach and Achievements
- 14.5.10.4 Certifications
- 14.5.11 Canada Cacao Company Inc.
- 14.5.11.1 Company Overview
- 14.5.11.2 Product Portfolio
- 14.5.11.3 Demographic Reach and Achievements
- 14.5.11.4 Certifications
- 14.5.12 Others
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