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A Brief Economic History of Chocolate

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  • Eline Poelmans
  • Johan Swinnen

Abstract

This paper reviews cocoa and chocolate production, consumption, and the industrial organization of chocolate making throughout history. Cocoa production and consumption was, for a long time, restricted to Central America. Centuries after the Spanish discovery of the New World, the cultivation of cocoa beans and the consumption of chocolate spread around the world during the early modern times (1500–1800). Scientific discoveries in the 18th and 19th centuries, and the Industrial Revolution, transformed the cocoa and chocolate industry and increased demand. The 20th century was characterized by a large increase in cocoa production and chocolate consumption, and the emergence of West Africa as the dominant cocoa-producing region. Since 1990 we have seen a new boom in demand, this time driven by growth in emerging markets, a growing concentration in global value chains, and the spread of private standards related to sustainability and ethical sourcing.

Suggested Citation

  • Eline Poelmans & Johan Swinnen, 2019. "A Brief Economic History of Chocolate," LICOS Discussion Papers 41219, LICOS - Centre for Institutions and Economic Performance, KU Leuven.
    • Handle: RePEc:lic:licosd:41219
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    File URL: https://feb.kuleuven.be/drc/licos/publications/dp/DP%412.pdf
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    Cited by:

    1. Koen Deconinck & Johan F.M. Swinnen, 2012. "War, Taxes, and Borders:How Beer Created Belgium," LICOS Discussion Papers 30812, LICOS - Centre for Institutions and Economic Performance, KU Leuven.

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