CLEVELAND — It may still feel early for Christmas shopping, but chocolate makers are already bracing for a holiday crunch.
At Malley’s Chocolates, shelves are stocked and workers are busy prepping for the fall season. But the company says the real rush is still ahead.
“This next season is huge for us at Malley’s,” said Megan Gillum, president of Malley's. “Christmas is one of our top moments. So between Christmas and Easter we sell a lot of product.”
The Cleveland-based candy shop has been in business for 90 years, weathering everything from recessions to ingredient shortages. Gillum said Malley’s has had to adapt to changes in global cocoa prices to keep chocolate both premium and affordable.
This year, cocoa is the bitter ingredient in the mix. A majority of the world’s beans are grown in West Africa, and farmers there have been hit by extreme weather and crop disease. That’s led to a global shortage.
“There’s a shortage of global cocoa,” Michael Goldberg, professor at the Weatherhead School of Management at Case Western University, said. “Between weather extremes and some disease, it’s causing a shortage.”
According to market data, cocoa futures surged above $8,100 per metric ton earlier this year, more than triple the price from just a few years ago. Prices have dipped slightly, but analysts warn the industry is dealing with a “hangover” that may not fully ease until 2026.
Small candy shops are especially feeling the squeeze. Jeff Morsfield, owner of Jeff’s Candy Shop, said the cost of chocolate has jumped.
“For small businesses like me, we’ve experienced an almost 30 to 40 percent increase on the chocolate that we buy,” he said.
Morisfield hasn’t raised prices yet, but admits he may have to rethink products like his original English toffee chocolate bar.
“The more candy I can do that avoids chocolate, the better my margins are,” he said.
For now, Malley’s customers can expect mostly steady prices this holiday season.
“We do not expect large price increases for this holiday,” Gillum said. “We incurred a lot in 2024. Those were steep increases that we had to endure in the cocoa market. ‘Unprecedented’ was a word that was thrown around.”
The sweetest advice? If you want to save on your favorite treats, buying early might just be your golden ticket.
Don’t Waste Your Money: How to Save on Chocolate
Buy Early
Prices are expected to creep up as the holiday season gets closer. Stock up now to lock in lower prices.
Shop Local Sales
Big chains and local shops often run seasonal promotions. Sign up for newsletters or loyalty programs to get first dibs on discounts.
Downsize the Box
A smaller gift box can still make a big impression without breaking your budget.
Watch 2026
Experts say prices might stabilize by Easter 2026 as crops recover, so relief could be on the horizon.
