According to Expert Market Research (EMR), the global cocoa market is experiencing steady growth driven by increasing demand for chocolate, confectionery, and bakery products across the globe. The rising popularity of premium and dark chocolates, along with the expanding food and beverage industry, is fueling cocoa consumption. Additionally, cocoa is also being used in non-food sectors such as cosmetics and pharmaceuticals, further contributing to market growth.
In terms of pricing trends, several factors influence cocoa prices globally. These include weather conditions, political stability in cocoa-producing regions, and crop yields in major countries like Ivory Coast and Ghana. Climate change and supply chain disruptions can lead to production challenges, which often result in price volatility. Moreover, the growing consumer preference for ethically sourced and sustainable cocoa is pushing companies to invest in certification and traceability, impacting both costs and long-term market dynamics.