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 2026
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:
1. Nestlé
NASDAQ: MDLZ
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Mondelez (MDLZ +0.12%) is another snack food giant, and on the chocolate side, you'd know the company by its ownership of brands such as Oreo, Cadbury, Chips Ahoy!, Milka, and more. In 2025, it ranked as the No. 2 player in the chocolate market, with a 12.3% share of the market.
Mondelez is the former snacking division of Kraft Foods (now Kraft Heinz (KHC -1.03%)), which spun off the business to shareholders in 2012. The company has bulked up its chocolate business since then, buying premium chocolate company Hu in 2021 and leading Mexican chocolate and candy company Ricolino a year later. It also reportedly explored the possibility of acquiring Hershey in late 2024.
This snacking specialist is another slow-grower, but it's been tightening up expenses and raising profitability over the past decade. Mondelez has also been expanding its presence in the health food segment as the global consciousness of healthy eating grows. It pays a dividend, too, and has been consistently raising since it became an independent business.
3. Hershey
NYSE: HSY
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NASDAQ: KHC
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While Kraft Heinz (KHC -1.03%) 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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