“For Africa, which is the heart of global cocoa production and a critical coffee hub; 70% in cocoa production and 12.5 % in coffee, the next decade represents a defining opportunity to move from being a raw material exporter to a strategic market leader with sustainable livelihoods for our farmers. “The combined trajectory of the cocoa and coffee industries signals a massive wealth influx into the global food and beverage sector by 2031 and 2035. “The cocoa and chocolate market is experiencing robust expansion, driven by a significant shift in consumer consciousness toward health and premium quality.

From $169.12 billion in 2025, the market is projected to reach $180.01 billion in 2026 and is expected to hit $245.97 billion by 2031, registering a compound annual growth rate of 6.44%,” he said. Comrade Adegoke said this growth is underpinned by surging demand for dark chocolate on account of its heart health benefits, Europe’s dominant market expansion, and the emergence of a cocoa lifestyle culture in Asia, alongside India’s steady expansion in both cocoa production and domestic chocolate consumption, adding that parallel to cocoa, the global coffee market is projected to reach approximately $486.2 billion by 2035 from the present $284.8 billion.

He added that for many families, cocoa and coffee are not mere commodities; they are the only lifeline. “Volatile market prices prevent farmers from affording the fertilisers, Inputs, labour hiring or climate-resilient seedlings needed to protect their crops and investment, leading to a bleak cycle of declining yields and deepening debt. As temperatures rise, smallholder farmers are being forced to move to higher altitudes or abandon their ancestral lands, often with zero financial safety net from the global brands that profit from their harvest.

“The consequences of farmer poverty do not remain at the farm gate; they travel through the entire supply chain. When a farmer cannot afford to maintain their land, the quality and quantity of global supply suffer, ultimately threatening the very growth the industry predicts. A drop in prices does not merely hurt households; it threatens the resilience of the entire global supply chain,” he said.

COCEFAAA has identified three strategic pillars to revamp and strengthen the sector. Africa must urgently prioritise Agricultural R&D with a focus on: Developing drought, pest, and disease-resistant crop varieties; Creating early-maturing crops to shorten the return on investment for smallholder farmers; The vast majority of the $245 billion in cocoa and $486.2 billion in coffee valuation is captured at the processing, domestic roasting facility and retail stages, not at the farm. Africa must be intentional in the establishment of domestic roasting facilities and processing plants capable of transforming raw beans into other derivatives, thereby retaining the added value within the continent Price volatility remains a systemic and existential threat to African farmers. By initiating and deepening Regional Block Collaboration between West, East, and Central African origin countries, the continent can harmonise pricing strategies and develop collective bargaining power.