Chocolate is one of the most popular sweet treats on the planet. Global annual sales are approaching $135 billion. As consumers in developing countries acquire more wealth, they consume more chocolate. That's driving steady growth in the chocolate market of about 4% per year.
Chocolate is a favorite for many investors, too. A handful of snack food conglomerates dominate the industry. Given their size, growth is rather pedestrian. However, if you're after slower but more stable growth paired with dividend income, chocolate stocks can be a tasty option.
Investing in chocolate stocks in 2025
The production and sale of chocolate and related candy are largely controlled by a few massive multinational companies. The largest chocolate goods producer, Mars (responsible for world-famous candies such as Snickers and M&Ms), is privately owned by the Mars family. As for the publicly traded companies, here are the top stocks in the chocolate business we'll consider:
| Name and ticker | Market cap | Dividend yield | Industry |
|---|---|---|---|
| Nestlé (OTC:NSRGY) | $252.1 billion | 3.69% | Food Products |
| Mondelez International (NASDAQ:MDLZ) | $71.7 billion | 3.44% | Food Products |
| Hershey (NYSE:HSY) | $36.3 billion | 3.83% | Food Products |
| Chocoladefabriken Lindt & Sprüngli Ag (OTC:CHLS.Y) | $14.9 billion | 1.18% | Food Products |
| Kraft Heinz (NASDAQ:KHC) | $29.0 billion | 6.53% | Food Products |
| Tootsie Roll Industries (NYSE:TR) | $2.9 billion | 0.91% | Food Products |
| Simply Good Foods (NASDAQ:SMPL) | $2.0 billion | 0.00% | Food Products |
1. Nestlé
OTC: NSRGY
Key Data Points
Nestlé (NSRGY -0.63%) is a sprawling empire of food and household staples and a top chocolatier. The Swiss company sells many sweets under the Nestlé name and has the rights outside of the U.S. to various candy bars such as Butterfinger, Milky Way, and KitKat.
The company has grown its chocolate business over the years. In late 2023, Nestlé bought a majority stake in Grupo CRM, a premier chocolate company in Brazil. The company sells the Kopenhagen and Brazil Cacau brands.
Nestlé is a top brand for investing in basic consumer staples, and it has a sizable presence in the global chocolate market. The food company isn't going to provide much in the way of growth, but its products are a daily essential for millions of households around the globe. Nestle stock also pays a decent dividend along the way and has a long history of gradually boosting its shareholder payout over time.
2. Mondelez International
NASDAQ: MDLZ
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3. Hershey
NYSE: HSY
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OTC: LDSVF
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NASDAQ: KHC
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While Kraft Heinz (KHC +1.12%) spun off most of its chocolate business when it created Mondelēz, the company still has some exposure to the chocolate market.
Kraft Heinz owns Baker's Chocolate, which sells bulk chocolates (including white and unsweetened) used by professional and home bakers. Additionally, the company's Jello-O brand sells chocolate-flavored instant puddings and pie fillings.
6. Tootsie Roll Industries
NYSE: TR
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NASDAQ: SMPL
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Are chocolate stocks a good investment?
As part of the consumer staple sector of the stock market, chocolate isn't the highest-growth investment theme out there. However, the demand for chocolate and other sweets isn't going away anytime soon. In fact, chocolate sales are still rising as consumers in developing markets join the middle class, and previously out-of-reach products such as chocolate have become a more regular part of the grocery shopping list.
If gradual growth accompanied by dividend income is what you're after, these chocolate stocks could be right up your alley.
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