The chocolate market size is expected to reach USD 152.45 billion by 2031, driven by premiumization, flavor innovation, and rising demand for ethically sourced products. Europe dominates the market due to high consumption and strong premium brands.
Hyderabad, Feb. 03, 2026 (GLOBE NEWSWIRE) — According to Mordor Intelligence, the global chocolate market is valued at USD 119.62 billion in 2026, is projected to reach USD 152.45 billion by 2031, growing at a CAGR of 4.97% during the forecast period. Growth in the chocolate sector is increasingly driven by value-led strategies rather than volume growth, as premium positioning, ethical sourcing, and evolving consumption occasions reshape the chocolate market forecast.
Chocolate Market Trends and Growth Insights
Premiumization, flavor innovation, and experiential appeal
The global chocolate market is increasingly shaped by premiumization and the craft chocolate movement, as consumers favor high-quality, artisanal, and ethically positioned products over mass-market options. Rising interest in single-origin, bean-to-bar, and limited-edition chocolates, combined with bold flavor experimentation and global taste inspirations, is elevating chocolate from a simple confection to an indulgent, experiential product. Storytelling, innovative packaging, and culturally inspired flavors help brands differentiate and command premium pricing, particularly in mature markets.
Gifting occasions and ethical sourcing as growth enablers
Chocolate’s strong association with gifting and seasonal celebrations continues to support demand, with premium and themed offerings gaining traction during holidays and cultural events. At the same time, growing consumer emphasis on sustainability and ethical cocoa sourcing is influencing purchasing decisions. Certifications, transparent supply chains, and direct farmer engagement are becoming essential, enabling manufacturers to align with consumer values, strengthen brand trust, and drive long-term growth in the global chocolate market.
Chocolate Market Segmentation Highlights
By Product Type
- Dark Chocolate
- Milk Chocolate
- White Chocolate
By Form
- Tablets and Bars
- Molded Blocks
- Others
By Price Range
- Mass
- Premium
By Ingredient Type
- Dairy-Based
- Plant-Based
- Single-Origin
By Distribution Channel
- Supermarkets/Hypermarkets
- Online Retail Stores
- Others
Regional Outlook Reflects Diverse Consumption Patterns
Europe continues to lead the global chocolate market share, supported by a strong heritage, premium craftsmanship, and established ethical sourcing standards. The region remains a global benchmark for quality and innovation.
The Middle East is emerging as a high-growth region, driven by a premium gifting culture and expanding luxury retail channels. North America balances market maturity with premiumization, wellness-focused products, and plant-based innovation.
The Asia-Pacific region represents a long-term growth engine as urbanization, gift-giving culture, and evolving dietary habits expand chocolate’s role as both an indulgent snack and a celebratory product.
Competitive Landscape
A dual competitive structure increasingly characterizes the chocolate industry. Large multinational companies dominate global volumes through scale and distribution, while independent and craft chocolatiers drive premium trends, sustainability leadership, and innovation.
For a full breakdown of market size, segmentation data, and competitive intelligence on the chocolate industry, read details of the Mordor Intelligence report at https://www.mordorintelligence.com/industry-reports/chocolate-market?utm_source=globenewswire
Key Players in the Global Chocolate Industry Include:
- Mars Incorporated
- Mondelez International Inc.
- Nestlé S.A.
- Ferrero International SpA
- The Hershey Company
Large players are responding to shifting preferences through premium sub-brands, ethical sourcing initiatives, and selective acquisitions to protect long-term chocolate market share.
Other Reports by Mordor Intelligence
India Chocolate Market Size– India chocolate market size is valued at USD 2.48 billion in 2025 and is projected to grow to USD 3.58 billion by 2030, registering a CAGR of 7.63% during the forecast period (2025–2030). The market is segmented by confectionery variant, including dark chocolate, milk chocolate, and white chocolate, as well as by distribution channels such as convenience stores, online retail platforms, supermarkets and hypermarkets, and other outlets.
Vegan Chocolate Market Share – Global vegan chocolate market share is expected to expand at a strong CAGR of 13.7% over the forecast period. The report categorizes the market by chocolate type (milk and white chocolate alternatives, dark chocolate, and others), product type (boxed assortments, count lines, and others), distribution channels including supermarkets/hypermarkets, convenience stores, online platforms, and other channels, and by geography across North America, Europe, Asia-Pacific, South America, and the Middle East & Africa.
Cocoa and Chocolate Market Size – Global cocoa and chocolate market was valued at USD 169.12 billion in 2025 and is estimated to grow from USD 180.01 billion in 2026 to USD 245.97 billion by 2031, reflecting a CAGR of 6.44% over the forecast period (2026–2031). The market is segmented by product type, including dark chocolate, milk and white chocolate, industrial chocolate, and filled or compound chocolate, by end user (foodservice, retail, and industrial), by nature (conventional and organic), and by geography, spanning North America, Europe, Asia-Pacific, South America, and the Middle East and Africa.
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