Chocolate Market | Growth Drivers & Demand Forecast

The global chocolate market was valued at USD 120.8 billion in 2024 and is projected to expand to USD 186 billion by 2034. This expansion represents a compound annual growth rate (CAGR) of 4.4% over the 2025–2034 period .

Breaking down the market by type, dark chocolate dominated in 2024, accounting for 42.4% of overall revenue. Within product forms, bars & blocks led the pack, capturing 56.7% of the market share in the same year.

When segmenting by application, confectionery products comprised 43.3% of the market in 2024. In the retail landscape, supermarkets and hypermarkets remained the top distribution channel, representing 44.6% of all chocolate sales .

Geographically, Europe was the largest regional market, holding a substantial 48.3% share of the global chocolate industry in 2024.

Overall, the report highlights notable market structure: from its size and future growth trajectory to how consumers engage through product preferences and purchasing channels all with clear numerical benchmarks guiding the narrative.

Transcript

1. Global Chocolate Market Research (2024–2034) MARKET OVERVIEW AND TRENDS
2. Market Overview  2024 Market Value: USD 120.8 Billion  2034 Forecast: USD 186 Billion  CAGR (2025–2034): 4.4%
3. Segment Highlights (2024)  Dark Chocolate: 42.4% market share  Bars & Blocks: 56.7% market share  Confectionery: 43.3% by application  Supermarkets/Hypermarkets: 44.6% by distribution
4. Regional Insight  Europe: 48.3% of global market  Germany leads EU exports (26%)
5. Key Trends  Growing demand for dark and functional chocolates  Increased interest in healthier options (low sugar, vegan)  Innovation in flavors and sustainable sourcing
6. Opportunities & Challenges  Opportunities:  Growth in baking industry and premium segment  Challenges:  High sugar/fat content concerns  Supply chain and regulatory disruptions