Tony's Chocolonely: Sales Surge Despite Cocoa Supply Concern

Though cocoa supply chains have faced record-high cocoa prices and a poor harvest throughout 2025, Tony's Chocolonely has still seen strong sales growth.

As champions of ethical chocolate, the company is aware of supply chain concerns and the importance of building resilience among suppliers.

So, as the chocolate industry proves itself a volatile one, Tony's might be proving that sustainability pays off. 

Cocoa volatility

Cocoa supply chains have undergone a period of fragility, due to years of poor weather conditions. In 2025, cocoa prices were three times higher than in 2022, with the UK seeing a price rise of 20% while imports fell by 10%. 

Ghana and the Ivory Coast produce 60% of the world's cocoa, but for four years, they have both faced poor harvests and increasing climate concerns.

In 2023, increased rainfall led to the spread of black pod disease, rotting the pods before harvest was possible. In 2024, the region was hit by a drought.

Due to this unstable weather, farmers have been unable to grow and harvest cocoa reliably, which in turn has resulted in supply shortage and increases to prices.

Chocolatiers around the world have been facing issues as a result of the poor yields, with cocoa prices being higher for them and therefore having to raise the prices of the final product, resulting in less sales as consumers look for less expensive alternatives. The issue of tariffs has also proven impactful on businesses as they work to grow their footing in the US - which Tony's has been able to do.

However, the company also faced individual challenges in 2025, as it had to recall two of its products due to potential metal fragments and small stones within the bars. 

Despite these challenges, Tony's Chocolonely's has grown amid the industry turbulence.

"Very proud of the results we have delivered in a turbulent year for cocoa," says Douglas Lamont, CEO at Tony's Chocolonely.

All supply chain, sustainability, Scope 3 and net zero leaders should attend:

• Procurement and Supply Chain LIVE: The Net Zero Summit - QEII Centre, London, March 4-5
• Procurement and Supply Chain LIVE: The US Summit - Navy Pier, Chicago, April 21-22

Co-located with Sustainability LIVE, these events brings together CSCOs, CSOs and senior decision-makers at a moment when sustainability, supply chains and commercial performance are increasingly interconnected.

Tickets can be booked online today for The Net Zero Summit and The US Summit. Group discounts available.

An ethical chocolatier 

Tony's Chocolonely was set up in 2005 by three Dutch journalists, with the hope of tackling unfair treatment in the chocolate industry. The brand, known for its bright packaging, is a champion of ethical actions, aiming to end child labour and deforestation in the chocolate industry and to create fair pay for its farmers. 

The company pays a premium on its cocoa in order to support farmers earn a living income and sources its cocoa through its Open Chain ethical sourcing initiative.

Through the chain, nearly 27,000 tonnes of fair cocoa were bought, which has impacted more than 30,000 cocoa farmers across Ghana and the Ivory Coast. 

It also encourages other chocolate brands to follow in its footsteps and has seen the monetary gains to incentivise other producers to make the switch to ethical solutions.

"Our ambition to end exploitation in cocoa rests on us showing that you can deliver positive impact for cocoa farming families, while also delivering strong commercial results," Douglas continues.

"So much more to come from Team Tony's, our Mission Allies and all our co-op partners in West Africa. All are welcome to join us on our journey to end exploitation in cocoa - are you ready to commit?"

Investing into the chain

Tony's has seen the benefits of its ethical movements, as more consumers are looking towards sustainable products. The company's sales grew by 20% in 2025, reaching a high of €240m (US$283m). Its growth includes a dominating entry into the US, with its US market growing by 50% to €75m (US$88.5m), making it Tony's largest market.

Though the revenue growth is, in part, due to its company price rise of 20-30% in the last 18 months, it has also seen a volume growth of 4% in what is generally a shrinking market. As a result, Tony's Chocolonely has seen a growth in operating profit.

Much of its gains are going back into driving long-term supply chain resilience, particularly as the market price for cocoa is falling once more. In the 2024/25 operating year, Tony's achieved 100% traceability of its beans, ensuring they were bought at a higher price from GPS mapped farms. 

It is investing in its farmers by paying them higher prices, thus allowing them to invest in sustainable cocoa farming. This will help the farmers build resilience, with protections in place against climate shocks and crop losses.

By paying farmers higher wages and investing in crop resilience strategies, Tony's is building a future-ready cocoa supply chain, by giving them the capabilities to avoid volume fluctuations during climate change. Moreover, through fairer pricing, it is working to end exploitation and child labour across the supply chain, ensuring ESG regulations are implemented throughout. 

Through the investment into its supply chain, it is seeing short and long-term financial gains by establishing cocoa supply chain resilience.