Global Chocolate Liquor Market Size, Share & Demand Report By Product Type (Natural Cocoa Liquor, Dutch-Processed Cocoa Liquor, Specialty & Organic Cocoa Liquor, Single-Origin Cocoa Liquor), By Form (Block, Wafers, Chips, Liquid), By Application (Chocolate & Confectionery, Bakery & Snacks, Beverages, Ice Cream & Frozen Desserts, Cosmetics, Functional Foods), By Region & Segment Forecasts, 2026–2031

Report Code: RI2181PUB
Last Updated : January, 2026
Author : Hannah Blake

Table of Contents

  1. Executive Summary
    1. Introduction
  2. Market Introduction
    1. Market Definition
    2. Scope of the Study
    3. Market Structure
  3. Research Methodology
    1. Primary Research
    2. Research Methodology
    3. Assumptions & Exclusions
    4. Secondary Data Sources
  4. Market Factor Analysis
    1. Value Chain Analysis: Chocolate Liquor Market
    2. Porters Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitution
      4. Threat of New Entrants
      5. Competitive Rivalry
  5. Market Dynamics
    1. Drivers
    2. Restraints
    3. Opportunities
  6. Recent Trends Analysis
  7. Impact of COVID-19 on Chocolate Liquor Market
    1. Pre and Post Covid -19 Market Scenario Analysis
    2. Market Recovery Timeline and Challenge
    3. Measures Taken by Top Players
  8. Regulatory Landscape
  9. Chocolate Liquor Market, By Product Type
    1. Introduction
      1. Market Size and Forecast, By Product Type
    2. Natural Cocoa Liquor
      1. Market Size and Forecast, By Region
    3. Dutch-Processed Cocoa Liquor
      1. Market Size and Forecast, By Region
    4. Specialty / Organic Cocoa Liquor
      1. Market Size and Forecast, By Region
    5. Single-Origin Cocoa Liquor
      1. Market Size and Forecast, By Region
  10. Chocolate Liquor Market, By Form
    1. Introduction
      1. Market Size and Forecast, By Form
    2. Block (Solid)
      1. Market Size and Forecast, By Region
    3. Wafers
      1. Market Size and Forecast, By Region
    4. Chips / Granules
      1. Market Size and Forecast, By Region
    5. Liquid / Paste
      1. Market Size and Forecast, By Region
  11. Chocolate Liquor Market, By Cocoa Variety
    1. Introduction
      1. Market Size and Forecast, By Cocoa Variety
    2. Forastero
      1. Market Size and Forecast, By Region
    3. Criollo
      1. Market Size and Forecast, By Region
    4. Trinitario
      1. Market Size and Forecast, By Region
    5. Hybrid / Mixed Varieties
      1. Market Size and Forecast, By Region
  12. Chocolate Liquor Market, By Application
    1. Introduction
      1. Market Size and Forecast, By Application
    2. Chocolate & Confectionery Manufacturing
      1. Market Size and Forecast, By Region
    3. Bakery & Snacks
      1. Market Size and Forecast, By Region
    4. Beverages (Hot Chocolate & Cocoa Drinks)
      1. Market Size and Forecast, By Region
    5. Ice Cream & Frozen Desserts
      1. Market Size and Forecast, By Region
    6. Cosmetics & Personal Care
      1. Market Size and Forecast, By Region
    7. Functional Foods & Nutraceuticals
      1. Market Size and Forecast, By Region
  13. Chocolate Liquor Market, By Distribution Channel
    1. Introduction
      1. Market Size and Forecast, By Distribution Channel
    2. Direct B2B Supply
      1. Market Size and Forecast, By Region
    3. Wholesale & Commodity Trading
      1. Market Size and Forecast, By Region
    4. Specialized Cocoa & Ingredient Suppliers
      1. Market Size and Forecast, By Region
  14. Regional Overview
    1. Introduction
      1. Market Size and Forecast
    2. North America
      1. Market Size and Forecast
        1. By Product Type
          1. Natural Cocoa Liquor
            1. Dutch-Processed Cocoa Liquor
              1. Specialty / Organic Cocoa Liquor
                1. Single-Origin Cocoa Liquor
                2. By Form
                  1. Block (Solid)
                    1. Wafers
                      1. Chips / Granules
                        1. Liquid / Paste
                        2. By Cocoa Variety
                          1. Forastero
                            1. Criollo
                              1. Trinitario
                                1. Hybrid / Mixed Varieties
                                2. By Application
                                  1. Chocolate & Confectionery Manufacturing
                                    1. Bakery & Snacks
                                      1. Beverages (Hot Chocolate & Cocoa Drinks)
                                        1. Ice Cream & Frozen Desserts
                                          1. Cosmetics & Personal Care
                                            1. Functional Foods & Nutraceuticals
                                            2. By Distribution Channel
                                              1. Direct B2B Supply
                                                1. Wholesale & Commodity Trading
                                                  1. Specialized Cocoa & Ingredient Suppliers
                                                2. U.S.
                                                  1. By Product Type
                                                    1. Natural Cocoa Liquor
                                                      1. Dutch-Processed Cocoa Liquor
                                                        1. Specialty / Organic Cocoa Liquor
                                                          1. Single-Origin Cocoa Liquor
                                                          2. By Form
                                                            1. Block (Solid)
                                                              1. Wafers
                                                                1. Chips / Granules
                                                                  1. Liquid / Paste
                                                                  2. By Cocoa Variety
                                                                    1. Forastero
                                                                      1. Criollo
                                                                        1. Trinitario
                                                                          1. Hybrid / Mixed Varieties
                                                                          2. By Application
                                                                            1. Chocolate & Confectionery Manufacturing
                                                                              1. Bakery & Snacks
                                                                                1. Beverages (Hot Chocolate & Cocoa Drinks)
                                                                                  1. Ice Cream & Frozen Desserts
                                                                                    1. Cosmetics & Personal Care
                                                                                      1. Functional Foods & Nutraceuticals
                                                                                      2. By Distribution Channel
                                                                                        1. Direct B2B Supply
                                                                                          1. Wholesale & Commodity Trading
                                                                                            1. Specialized Cocoa & Ingredient Suppliers
                                                                                          2. Canada
                                                                                        2. Europe
                                                                                          1. Market Size and Forecast
                                                                                            1. By Product Type
                                                                                              1. Natural Cocoa Liquor
                                                                                                1. Dutch-Processed Cocoa Liquor
                                                                                                  1. Specialty / Organic Cocoa Liquor
                                                                                                    1. Single-Origin Cocoa Liquor
                                                                                                    2. By Form
                                                                                                      1. Block (Solid)
                                                                                                        1. Wafers
                                                                                                          1. Chips / Granules
                                                                                                            1. Liquid / Paste
                                                                                                            2. By Cocoa Variety
                                                                                                              1. Forastero
                                                                                                                1. Criollo
                                                                                                                  1. Trinitario
                                                                                                                    1. Hybrid / Mixed Varieties
                                                                                                                    2. By Application
                                                                                                                      1. Chocolate & Confectionery Manufacturing
                                                                                                                        1. Bakery & Snacks
                                                                                                                          1. Beverages (Hot Chocolate & Cocoa Drinks)
                                                                                                                            1. Ice Cream & Frozen Desserts
                                                                                                                              1. Cosmetics & Personal Care
                                                                                                                                1. Functional Foods & Nutraceuticals
                                                                                                                                2. By Distribution Channel
                                                                                                                                  1. Direct B2B Supply
                                                                                                                                    1. Wholesale & Commodity Trading
                                                                                                                                      1. Specialized Cocoa & Ingredient Suppliers
                                                                                                                                    2. U.K.
                                                                                                                                      1. By Product Type
                                                                                                                                        1. Natural Cocoa Liquor
                                                                                                                                          1. Dutch-Processed Cocoa Liquor
                                                                                                                                            1. Specialty / Organic Cocoa Liquor
                                                                                                                                              1. Single-Origin Cocoa Liquor
                                                                                                                                              2. By Form
                                                                                                                                                1. Block (Solid)
                                                                                                                                                  1. Wafers
                                                                                                                                                    1. Chips / Granules
                                                                                                                                                      1. Liquid / Paste
                                                                                                                                                      2. By Cocoa Variety
                                                                                                                                                        1. Forastero
                                                                                                                                                          1. Criollo
                                                                                                                                                            1. Trinitario
                                                                                                                                                              1. Hybrid / Mixed Varieties
                                                                                                                                                              2. By Application
                                                                                                                                                                1. Chocolate & Confectionery Manufacturing
                                                                                                                                                                  1. Bakery & Snacks
                                                                                                                                                                    1. Beverages (Hot Chocolate & Cocoa Drinks)
                                                                                                                                                                      1. Ice Cream & Frozen Desserts
                                                                                                                                                                        1. Cosmetics & Personal Care
                                                                                                                                                                          1. Functional Foods & Nutraceuticals
                                                                                                                                                                          2. By Distribution Channel
                                                                                                                                                                            1. Direct B2B Supply
                                                                                                                                                                              1. Wholesale & Commodity Trading
                                                                                                                                                                                1. Specialized Cocoa & Ingredient Suppliers
                                                                                                                                                                              2. Germany
                                                                                                                                                                              3. France
                                                                                                                                                                              4. Spain
                                                                                                                                                                              5. Italy
                                                                                                                                                                              6. Russia
                                                                                                                                                                              7. Nordic
                                                                                                                                                                              8. Benelux
                                                                                                                                                                              9. Rest of Europe
                                                                                                                                                                            2. APAC
                                                                                                                                                                              1. Market Size and Forecast
                                                                                                                                                                                1. By Product Type
                                                                                                                                                                                  1. Natural Cocoa Liquor
                                                                                                                                                                                    1. Dutch-Processed Cocoa Liquor
                                                                                                                                                                                      1. Specialty / Organic Cocoa Liquor
                                                                                                                                                                                        1. Single-Origin Cocoa Liquor
                                                                                                                                                                                        2. By Form
                                                                                                                                                                                          1. Block (Solid)
                                                                                                                                                                                            1. Wafers
                                                                                                                                                                                              1. Chips / Granules
                                                                                                                                                                                                1. Liquid / Paste
                                                                                                                                                                                                2. By Cocoa Variety
                                                                                                                                                                                                  1. Forastero
                                                                                                                                                                                                    1. Criollo
                                                                                                                                                                                                      1. Trinitario
                                                                                                                                                                                                        1. Hybrid / Mixed Varieties
                                                                                                                                                                                                        2. By Application
                                                                                                                                                                                                          1. Chocolate & Confectionery Manufacturing
                                                                                                                                                                                                            1. Bakery & Snacks
                                                                                                                                                                                                              1. Beverages (Hot Chocolate & Cocoa Drinks)
                                                                                                                                                                                                                1. Ice Cream & Frozen Desserts
                                                                                                                                                                                                                  1. Cosmetics & Personal Care
                                                                                                                                                                                                                    1. Functional Foods & Nutraceuticals
                                                                                                                                                                                                                    2. By Distribution Channel
                                                                                                                                                                                                                      1. Direct B2B Supply
                                                                                                                                                                                                                        1. Wholesale & Commodity Trading
                                                                                                                                                                                                                          1. Specialized Cocoa & Ingredient Suppliers
                                                                                                                                                                                                                        2. China
                                                                                                                                                                                                                          1. By Product Type
                                                                                                                                                                                                                            1. Natural Cocoa Liquor
                                                                                                                                                                                                                              1. Dutch-Processed Cocoa Liquor
                                                                                                                                                                                                                                1. Specialty / Organic Cocoa Liquor
                                                                                                                                                                                                                                  1. Single-Origin Cocoa Liquor
                                                                                                                                                                                                                                  2. By Form
                                                                                                                                                                                                                                    1. Block (Solid)
                                                                                                                                                                                                                                      1. Wafers
                                                                                                                                                                                                                                        1. Chips / Granules
                                                                                                                                                                                                                                          1. Liquid / Paste
                                                                                                                                                                                                                                          2. By Cocoa Variety
                                                                                                                                                                                                                                            1. Forastero
                                                                                                                                                                                                                                              1. Criollo
                                                                                                                                                                                                                                                1. Trinitario
                                                                                                                                                                                                                                                  1. Hybrid / Mixed Varieties
                                                                                                                                                                                                                                                  2. By Application
                                                                                                                                                                                                                                                    1. Chocolate & Confectionery Manufacturing
                                                                                                                                                                                                                                                      1. Bakery & Snacks
                                                                                                                                                                                                                                                        1. Beverages (Hot Chocolate & Cocoa Drinks)
                                                                                                                                                                                                                                                          1. Ice Cream & Frozen Desserts
                                                                                                                                                                                                                                                            1. Cosmetics & Personal Care
                                                                                                                                                                                                                                                              1. Functional Foods & Nutraceuticals
                                                                                                                                                                                                                                                              2. By Distribution Channel
                                                                                                                                                                                                                                                                1. Direct B2B Supply
                                                                                                                                                                                                                                                                  1. Wholesale & Commodity Trading
                                                                                                                                                                                                                                                                    1. Specialized Cocoa & Ingredient Suppliers
                                                                                                                                                                                                                                                                  2. Korea
                                                                                                                                                                                                                                                                  3. Japan
                                                                                                                                                                                                                                                                  4. India
                                                                                                                                                                                                                                                                  5. Australia
                                                                                                                                                                                                                                                                  6. Singapore
                                                                                                                                                                                                                                                                  7. Taiwan
                                                                                                                                                                                                                                                                  8. South East Asia
                                                                                                                                                                                                                                                                  9. Rest of Asia-Pacific
                                                                                                                                                                                                                                                                2. Middle East and Africa
                                                                                                                                                                                                                                                                  1. Market Size and Forecast
                                                                                                                                                                                                                                                                    1. By Product Type
                                                                                                                                                                                                                                                                      1. Natural Cocoa Liquor
                                                                                                                                                                                                                                                                        1. Dutch-Processed Cocoa Liquor
                                                                                                                                                                                                                                                                          1. Specialty / Organic Cocoa Liquor
                                                                                                                                                                                                                                                                            1. Single-Origin Cocoa Liquor
                                                                                                                                                                                                                                                                            2. By Form
                                                                                                                                                                                                                                                                              1. Block (Solid)
                                                                                                                                                                                                                                                                                1. Wafers
                                                                                                                                                                                                                                                                                  1. Chips / Granules
                                                                                                                                                                                                                                                                                    1. Liquid / Paste
                                                                                                                                                                                                                                                                                    2. By Cocoa Variety
                                                                                                                                                                                                                                                                                      1. Forastero
                                                                                                                                                                                                                                                                                        1. Criollo
                                                                                                                                                                                                                                                                                          1. Trinitario
                                                                                                                                                                                                                                                                                            1. Hybrid / Mixed Varieties
                                                                                                                                                                                                                                                                                            2. By Application
                                                                                                                                                                                                                                                                                              1. Chocolate & Confectionery Manufacturing
                                                                                                                                                                                                                                                                                                1. Bakery & Snacks
                                                                                                                                                                                                                                                                                                  1. Beverages (Hot Chocolate & Cocoa Drinks)
                                                                                                                                                                                                                                                                                                    1. Ice Cream & Frozen Desserts
                                                                                                                                                                                                                                                                                                      1. Cosmetics & Personal Care
                                                                                                                                                                                                                                                                                                        1. Functional Foods & Nutraceuticals
                                                                                                                                                                                                                                                                                                        2. By Distribution Channel
                                                                                                                                                                                                                                                                                                          1. Direct B2B Supply
                                                                                                                                                                                                                                                                                                            1. Wholesale & Commodity Trading
                                                                                                                                                                                                                                                                                                              1. Specialized Cocoa & Ingredient Suppliers
                                                                                                                                                                                                                                                                                                            2. UAE
                                                                                                                                                                                                                                                                                                              1. By Product Type
                                                                                                                                                                                                                                                                                                                1. Natural Cocoa Liquor
                                                                                                                                                                                                                                                                                                                  1. Dutch-Processed Cocoa Liquor
                                                                                                                                                                                                                                                                                                                    1. Specialty / Organic Cocoa Liquor
                                                                                                                                                                                                                                                                                                                      1. Single-Origin Cocoa Liquor
                                                                                                                                                                                                                                                                                                                      2. By Form
                                                                                                                                                                                                                                                                                                                        1. Block (Solid)
                                                                                                                                                                                                                                                                                                                          1. Wafers
                                                                                                                                                                                                                                                                                                                            1. Chips / Granules
                                                                                                                                                                                                                                                                                                                              1. Liquid / Paste
                                                                                                                                                                                                                                                                                                                              2. By Cocoa Variety
                                                                                                                                                                                                                                                                                                                                1. Forastero
                                                                                                                                                                                                                                                                                                                                  1. Criollo
                                                                                                                                                                                                                                                                                                                                    1. Trinitario
                                                                                                                                                                                                                                                                                                                                      1. Hybrid / Mixed Varieties
                                                                                                                                                                                                                                                                                                                                      2. By Application
                                                                                                                                                                                                                                                                                                                                        1. Chocolate & Confectionery Manufacturing
                                                                                                                                                                                                                                                                                                                                          1. Bakery & Snacks
                                                                                                                                                                                                                                                                                                                                            1. Beverages (Hot Chocolate & Cocoa Drinks)
                                                                                                                                                                                                                                                                                                                                              1. Ice Cream & Frozen Desserts
                                                                                                                                                                                                                                                                                                                                                1. Cosmetics & Personal Care
                                                                                                                                                                                                                                                                                                                                                  1. Functional Foods & Nutraceuticals
                                                                                                                                                                                                                                                                                                                                                  2. By Distribution Channel
                                                                                                                                                                                                                                                                                                                                                    1. Direct B2B Supply
                                                                                                                                                                                                                                                                                                                                                      1. Wholesale & Commodity Trading
                                                                                                                                                                                                                                                                                                                                                        1. Specialized Cocoa & Ingredient Suppliers
                                                                                                                                                                                                                                                                                                                                                      2. Turky
                                                                                                                                                                                                                                                                                                                                                      3. Saudi Arabia
                                                                                                                                                                                                                                                                                                                                                      4. South Africa
                                                                                                                                                                                                                                                                                                                                                      5. Egypt
                                                                                                                                                                                                                                                                                                                                                      6. Nigeria
                                                                                                                                                                                                                                                                                                                                                      7. Rest of MEA
                                                                                                                                                                                                                                                                                                                                                    2. LATAM
                                                                                                                                                                                                                                                                                                                                                      1. Market Size and Forecast
                                                                                                                                                                                                                                                                                                                                                        1. By Product Type
                                                                                                                                                                                                                                                                                                                                                          1. Natural Cocoa Liquor
                                                                                                                                                                                                                                                                                                                                                            1. Dutch-Processed Cocoa Liquor
                                                                                                                                                                                                                                                                                                                                                              1. Specialty / Organic Cocoa Liquor
                                                                                                                                                                                                                                                                                                                                                                1. Single-Origin Cocoa Liquor
                                                                                                                                                                                                                                                                                                                                                                2. By Form
                                                                                                                                                                                                                                                                                                                                                                  1. Block (Solid)
                                                                                                                                                                                                                                                                                                                                                                    1. Wafers
                                                                                                                                                                                                                                                                                                                                                                      1. Chips / Granules
                                                                                                                                                                                                                                                                                                                                                                        1. Liquid / Paste
                                                                                                                                                                                                                                                                                                                                                                        2. By Cocoa Variety
                                                                                                                                                                                                                                                                                                                                                                          1. Forastero
                                                                                                                                                                                                                                                                                                                                                                            1. Criollo
                                                                                                                                                                                                                                                                                                                                                                              1. Trinitario
                                                                                                                                                                                                                                                                                                                                                                                1. Hybrid / Mixed Varieties
                                                                                                                                                                                                                                                                                                                                                                                2. By Application
                                                                                                                                                                                                                                                                                                                                                                                  1. Chocolate & Confectionery Manufacturing
                                                                                                                                                                                                                                                                                                                                                                                    1. Bakery & Snacks
                                                                                                                                                                                                                                                                                                                                                                                      1. Beverages (Hot Chocolate & Cocoa Drinks)
                                                                                                                                                                                                                                                                                                                                                                                        1. Ice Cream & Frozen Desserts
                                                                                                                                                                                                                                                                                                                                                                                          1. Cosmetics & Personal Care
                                                                                                                                                                                                                                                                                                                                                                                            1. Functional Foods & Nutraceuticals
                                                                                                                                                                                                                                                                                                                                                                                            2. By Distribution Channel
                                                                                                                                                                                                                                                                                                                                                                                              1. Direct B2B Supply
                                                                                                                                                                                                                                                                                                                                                                                                1. Wholesale & Commodity Trading
                                                                                                                                                                                                                                                                                                                                                                                                  1. Specialized Cocoa & Ingredient Suppliers
                                                                                                                                                                                                                                                                                                                                                                                                2. Brazil
                                                                                                                                                                                                                                                                                                                                                                                                  1. By Product Type
                                                                                                                                                                                                                                                                                                                                                                                                    1. Natural Cocoa Liquor
                                                                                                                                                                                                                                                                                                                                                                                                      1. Dutch-Processed Cocoa Liquor
                                                                                                                                                                                                                                                                                                                                                                                                        1. Specialty / Organic Cocoa Liquor
                                                                                                                                                                                                                                                                                                                                                                                                          1. Single-Origin Cocoa Liquor
                                                                                                                                                                                                                                                                                                                                                                                                          2. By Form
                                                                                                                                                                                                                                                                                                                                                                                                            1. Block (Solid)
                                                                                                                                                                                                                                                                                                                                                                                                              1. Wafers
                                                                                                                                                                                                                                                                                                                                                                                                                1. Chips / Granules
                                                                                                                                                                                                                                                                                                                                                                                                                  1. Liquid / Paste
                                                                                                                                                                                                                                                                                                                                                                                                                  2. By Cocoa Variety
                                                                                                                                                                                                                                                                                                                                                                                                                    1. Forastero
                                                                                                                                                                                                                                                                                                                                                                                                                      1. Criollo
                                                                                                                                                                                                                                                                                                                                                                                                                        1. Trinitario
                                                                                                                                                                                                                                                                                                                                                                                                                          1. Hybrid / Mixed Varieties
                                                                                                                                                                                                                                                                                                                                                                                                                          2. By Application
                                                                                                                                                                                                                                                                                                                                                                                                                            1. Chocolate & Confectionery Manufacturing
                                                                                                                                                                                                                                                                                                                                                                                                                              1. Bakery & Snacks
                                                                                                                                                                                                                                                                                                                                                                                                                                1. Beverages (Hot Chocolate & Cocoa Drinks)
                                                                                                                                                                                                                                                                                                                                                                                                                                  1. Ice Cream & Frozen Desserts
                                                                                                                                                                                                                                                                                                                                                                                                                                    1. Cosmetics & Personal Care
                                                                                                                                                                                                                                                                                                                                                                                                                                      1. Functional Foods & Nutraceuticals
                                                                                                                                                                                                                                                                                                                                                                                                                                      2. By Distribution Channel
                                                                                                                                                                                                                                                                                                                                                                                                                                        1. Direct B2B Supply
                                                                                                                                                                                                                                                                                                                                                                                                                                          1. Wholesale & Commodity Trading
                                                                                                                                                                                                                                                                                                                                                                                                                                            1. Specialized Cocoa & Ingredient Suppliers
                                                                                                                                                                                                                                                                                                                                                                                                                                          2. Mexico
                                                                                                                                                                                                                                                                                                                                                                                                                                          3. Argentina
                                                                                                                                                                                                                                                                                                                                                                                                                                          4. Chile
                                                                                                                                                                                                                                                                                                                                                                                                                                          5. Colombia
                                                                                                                                                                                                                                                                                                                                                                                                                                          6. Rest of LATAM
                                                                                                                                                                                                                                                                                                                                                                                                                                      3. Competitive Landscape, 2025
                                                                                                                                                                                                                                                                                                                                                                                                                                        1. Introduction
                                                                                                                                                                                                                                                                                                                                                                                                                                        2. Chocolate Liquor Market Share Analysis, 2025 (%)
                                                                                                                                                                                                                                                                                                                                                                                                                                          1. Market Share Analysis, 2025
                                                                                                                                                                                                                                                                                                                                                                                                                                          2. Competition Ranking, 2025
                                                                                                                                                                                                                                                                                                                                                                                                                                          3. Key Developments & Growth Strategies
                                                                                                                                                                                                                                                                                                                                                                                                                                            1. Merger & Acquisition
                                                                                                                                                                                                                                                                                                                                                                                                                                            2. Product Launch
                                                                                                                                                                                                                                                                                                                                                                                                                                            3. Expansion
                                                                                                                                                                                                                                                                                                                                                                                                                                          4. Consolidated SWOT Analysis of Key Players
                                                                                                                                                                                                                                                                                                                                                                                                                                      4. Company Profile
                                                                                                                                                                                                                                                                                                                                                                                                                                        1. Barry Callebaut
                                                                                                                                                                                                                                                                                                                                                                                                                                          1. Business Overview
                                                                                                                                                                                                                                                                                                                                                                                                                                          2. Financial Data
                                                                                                                                                                                                                                                                                                                                                                                                                                          3. Key Product domains
                                                                                                                                                                                                                                                                                                                                                                                                                                          4. Recent Developments
                                                                                                                                                                                                                                                                                                                                                                                                                                        2. Cargill, Incorporated
                                                                                                                                                                                                                                                                                                                                                                                                                                        3. Olam International
                                                                                                                                                                                                                                                                                                                                                                                                                                        4. Ecom Agroindustrial Corp
                                                                                                                                                                                                                                                                                                                                                                                                                                        5. Mars Incorporated
                                                                                                                                                                                                                                                                                                                                                                                                                                        6. Mondelez International
                                                                                                                                                                                                                                                                                                                                                                                                                                        7. Nestlé S.A.
                                                                                                                                                                                                                                                                                                                                                                                                                                        8. The Hershey Company
                                                                                                                                                                                                                                                                                                                                                                                                                                        9. Lindt & Sprüngli AG
                                                                                                                                                                                                                                                                                                                                                                                                                                        10. Ferrero Group