Four African countries account for seventy percent of the world’s chocolate ! The main component of chocolate is the cocoa bean, which is produced by some African countries. In fact, they represent about two thirds of the world’s supply. The word cocoa, which comes from the Amerindian word “cacahuatl”, is a symbol of wealth and a medium of exchange. About 50% of the world’s cocoa production is produced in Ghana and Ivory Coast.
Global chocolate consumption each year is estimated to be at least 7.2 million tons, and the profits of the major players in the industry are skyrocketing.
Mars Inc. has sales of $17 billion US annually, Hershey’s $3.7 billion and M&M’s over $600 million.
The Oceania/Asia market currently represents 15% of global consumption, but is growing exponentially and is expected to quickly overtake the US market, which represents 20% of global consumption.
Europeans, for whom eating chocolate is an older tradition, buy 50% of the world’s cocoa each year.
African countries, which produce most of the cocoa, represent only 3.28% of the world market. However, four African countries account for seventy percent of the world’s chocolate !
Four African countries account for seventy percent of the world’s chocolate
The Ivory Coast provides more than 45% of the cocoa beans used to make chocolate in the world.
Côte d’Ivoire alone generated about 2.1 million metric tons of cocoa beans in 2022, according to Statista, and the amount is expected to increase.
Cocoa is a source of income for many Ivorians. In fact, more than 8 million Ivorians depend on cocoa production for their livelihood, according to the World Cocoa Foundation (WCF).
Ghana is believed to have produced the most cocoa beans with an estimated 689,000 metric tons of production last year, according to Statista.
Indeed, this is expected to increase further in 2022-2023, to about 750,000 metric tons.
According to Statista, in 2012/2013, Nigeria produced about 238,000 metric tons of cocoa beans, and is expected to produce about 280,000 metric tons in 2022/2023.
In 2012/2013, Cameroon produced about 225,000 tons of cocoa beans, and by 2022/2023, it is estimated to produce 300,000 tons, according to Statista reports.
Toward Europe for manufacturing
The top 4 chocolate producing countries are Germany, Belgium, Italy and Poland, reports Investopedia.