In this piece, we will take a look at the twelve countries that produce the best chocolate in the world. For more countries, head on over to 5 Countries That Produce the Best Chocolate in the World.
Chocolate is one of the world's favorite foods. The sweet confectionery is a favorite among children and adults alike, so much so that global chocolate consumption stood at a whopping eight million tons last year. In terms of kilograms of chocolate consumption per person per year, Switzerland is at the top, with an average Swiss consuming 10 kilograms each year. Additionally, nine out of the top ten chocolate consuming nations are located in Europe, a fact that is also present when the list of the world's largest chocolate exporters is analyzed (as you will find out throughout this piece).
However, just because they eat the most chocolate does not mean that the Europeans produce the most chocolate as well. Chocolate, in its purest form, is bitter and is made from the kernels of the cacao seed. This plant is found predominantly in Africa, and it is estimated that up to two thirds of the world's cacao seeds originate from the continent. Africa's large contribution of cocoa is simply due to the fact that the cacao tree can only grow in regions that are 20 degrees North or South of the equator. The use of this plant for food, for the earliest form of chocolate, makes it one of the oldest food products in the world as well, with some estimates suggesting that humans first started consuming the cacao plant in the 19th century BCE.
With the progression of time, the industry has also evolved. As has been the case with corn, chocolate has also seen the use of gene editing technologies. These have enabled producers to study how the effects of global warming on Africa can be mitigated to ensure that the world keeps on getting its chocolate. One such example is the partnership between Mars and the University of California, Davis, which aims to take a look at DNA sequencing for plant breeding to improve Africa's orphan crops. Additionally, their direct collaboration will analyze methods to use CRISPR DNA sequencing to mutate the cacao plant and ensure that it can also survive in hotter climates. CRISPR is a proprietary technology of the Swiss firm CRISPR Therapeutics AG (NASDAQ:CRSP), and is used primarily in healthcare.
Other uses of technology in the chocolate industry mirror those in general crop production. Throughout the chocolate manufacturing process, ranging from processing, blending, conching, tempering, shaping, and storing, machines and connectivity are aiding workers. Intelligent factories enable machines to communicate with a central platform for data processing and analytics requirements, with roller refiners first used to break the crystals down and then refine them into fine powder. These systems are manufactured by companies such as Artisan Industrial in Australia, with processing plants increasingly starting to use rollers instead of sugar milling equipment for production. Another key player in the chocolate production equipment market is Buhler Industries Inc. (OTCMKTS:BIIAF).
Moving towards the market as a whole, according to Fortune Business Insights, the global chocolate confectionery market was worth $114 billion in 2019 and will grow at a compounded annual growth rate (CAGR) of 2.3% until 2027 to be worth $136 billion by the end of the forecast period. The firm believes that growth in demand for specialty chocolates will drive the growth, while the associated health risks of obesity and diabetes will hamper it. Some well-known confectionery companies that manufacture and sell chocolates are Chocoladefabriken Lindt & Sprüngli AG (SWX:LISN.SW), Mondelez International, Inc. (NASDAQ:MDLZ), and The Hershey Company (NYSE:HSY).
Our Methodology:
We used trade data to analyze which countries export the most chocolates. These are then analyzed in terms of their industry, its origins, and the key players that are often publicly traded companies as well.
12. Republic of Türkiye
Chocolate Exports in 2021: $688 million
The Republic of Türkiye is a transcontinental country with a strong confectionery industry as well. Estimates suggest that this industry makes up to 2% of Turkey's food processing industry. Turkey sold 200,300 tons of chocolate in 2019, and the country's largest customers were Iraq, Saudi Arabia, and the United Arab Emirates. The industry is aiming to expand its sales and set a whopping $1.5 billion export target for 2021 according to a statement from the export union. However, Turkish chocolate exports in 2021, as listed by the Harmonized Tariff Schedule item '1806 Chocolate and other food preparations containing cocoa', stood at $688 million with an estimated 233,254 tons shipped. Turkey's largest chocolate company in terms of market capitalization is Kent Gida Maddeleri Sanayii ve Ticaret A.S. (IST:KENT), and other firms such as Ülker Bisküvi Sanayi A.S. (IST:ULKER) and Oylum Sinai Yatirimlar Anonim Sirketi (IST:OYLUM) also manufacture and sell chocolates.
11. Swiss Confederation
Chocolate Exports in 2021: $854 million
The Swiss Confederation, or Switzerland, is a European nation that is one of the richest and most developed countries in the world. Swiss chocolate dates its way back to the 1700s when the country invented both condensed milk and then milk chocolate. In fact, Henry Nestle, the inventor of condensed milk, saw his company become the global food behemoth that is known today by his surname. Swiss companies are also known for operating their factories as museums which allow visitors to take a glimpse in their past. Given its history, it is no surprise that some of the most well-known chocolate companies are located in Switzerland. Perhaps the most renowned is Chocoladefabriken Lindt & Sprüngli AG (SWX:LISN.SW), with others being Barry Callebaut AG (SWX:BARN) and Läderach.
10. Russia Federation
Chocolate Exports in 2021: $863 million
The Russian Federation is a transcontinental country that has had a storied relationship with chocolate. Russian chocolate companies are some of the oldest in the world, as they trace their roots back to the 1800s. However, the country's experimentation with communism led to these factories being nationalized at one point in time, as chocolate was viewed as a food of the city dwellers instead of the farmer and working class. Still, Russia exported $863 million of chocolate last year, which weighed 324,334 tons. Russian chocolate manufacturers include A. Korkunov (a Mars subsidiary), OAO Konditerskiy Kontsern Babayevskiy Open Joint-Stock Company (the oldest Russian chocolate company set up in 1804), and Rot Front Open Joint-Stock Company. The latter two are subsidiaries of United Confectioners. Despite Russia's animosity with the West, Russian consumers love consuming chocolates made by Chocoladefabriken Lindt & Sprüngli AG (SWX:LISN.SW), Mondelez International, Inc. (NASDAQ:MDLZ), and The Hershey Company (NYSE:HSY).
9. United Kingdom of Great Britain and Northern Ireland
Chocolate Exports in 2021: $1 billion
The United Kingdom of Great Britain and Northern Ireland, simply known as the U.K. or Britain, is one of Europe's largest economies and a great power in global politics. It is also one of Europe's largest chocolate consumers, and its chocolate processing and grinding industry are among the largest on the continent. The British chocolate and confectionery market was valued at £3.4 billion in 2022, and it is expected to grow by 4.4%. Britain's Cadbury chocolate brand is one of the most famous in the world and is currently owned by the U.S. firm Mondelez International. Other British firms headquartered in the U.K. that make chocolates are Hotel Chocolat Group plc (LON:HOTC.L) and Real Good Food plc (LON:RGD.L).
8. French Republic
Chocolate Exports in 2021: $1.55 billion
The French Republic is another prosperous European nation and another great power. Chocolate in France dates back to the 17th century, when it was limited only to the nobility, royalty, or the bourgeois. The masses on the other hand were able to enjoy chocolate in the 19th century. The first French chocolate maker was a pharmaceutical firm that started to use it for its medicinal properties. Since then, the industry has expanded greatly, as evident by France's $1.55 billion of chocolate exports last year. Most French chocolate firms are privately held, and one of the largest companies is Cémoi.
7. United States of America
Chocolate Exports in 2021: $1.68 billion
The United States of America is a global superpower and a major exporting nation. American confectionery firms are among the largest players in the world, and those that are listed on the public stock market are worth billions of dollars. The largest publicly listed American chocolate company is Mondelez International, Inc. (NASDAQ:MDLZ) which has a market capitalization of a whopping $90 billion. America's second multi-billion dollar company is The Hershey Company (NYSE:HSY), and a private firm Mars, Incorporated is also known all over the world and has stakes in international subsidiaries.
6. Canada
Chocolate Exports in 2021: $1.77 billion
Canada is a North American country rich in natural resources and with a strong economy that lets it rank among the list of world's First World countries. The Canadian chocolate market has grown by 2.8% on average between 2017 and 2022, and it is worth $2.7 billion in 2022. Canada's oldest chocolate company is Ganong Bros., Limited, which was set up in 1873. Its largest publicly traded confectionery firm is Rogers Sugar Inc. (TSE:RSI.TO) with a CAD$609 million market capitalization. Chocolates made by Chocoladefabriken Lindt & Sprüngli AG (SWX:LISN.SW), Mondelez International, Inc. (NASDAQ:MDLZ), and The Hershey Company (NYSE:HSY) are also extremely famous in the country.
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Disclosure: None.12 Countries That Produce the Best Chocolate in the World is originally published on Insider Monkey.
