As Valentine’s Day approaches, department stores across Japan are rolling out chocolate-themed promotions, but this year’s celebrations come with a bitter note.

High cocoa prices are driving demand for small, premium chocolates this Valentine’s Day. (Photo via MERXWIRE)

TOKYO, JAPAN (MERXWIRE) – With Valentine’s Day drawing near, Japan’s major department stores have begun their annual chocolate campaigns. However, the sweetness of the season has been dampened by a sharp rise in cocoa prices, forcing chocolate manufacturers and retailers to rethink their strategies and influencing how consumers plan their gift purchases.

According to data from the International Cocoa Organization (ICCO), global cocoa prices have surged to record highs since 2024. Although prices retreated to around USD 5,821 per metric ton in December 2025, they remain roughly double the levels seen before 2023. The ICCO attributes the prolonged price surge to supply shortages caused by abnormal weather, crop diseases, and declining yields in major cocoa-producing regions.

In response to rising raw material costs, Japanese department stores and confectionery brands have adopted various measures to contain expenses. Some companies have slightly raised prices or reduced portion sizes, while others have turned to alternative cocoa ingredients or diversified sourcing. Many department stores have also expanded their Valentine’s offerings to include non-chocolate sweets, baked goods, and nut-based products, providing consumers with more affordable alternatives.

Inflationary pressures are clearly reshaping consumer behavior. Some shoppers say they plan to be more cautious with their budgets this Valentine’s Day, cutting back on the number of gifts and focusing only on partners or close relationships rather than purchasing large quantities of so-called “obligation chocolates.” Others are opting for handmade gifts or alternative desserts that emphasize thoughtfulness and practicality over tradition.

Although cocoa prices have recently stabilized, they remain much higher than the average in the past. (Photo via MERXWIRE)

Tokyo office worker Misaki Tanaka said she still plans to give chocolate this year, but noted that prices are noticeably higher. “I’ll choose a smaller, high-quality item so I can stay within my budget while still expressing my feelings,” she said. Freelance designer Naoki Sato added that he may give a different type of sweet or a handmade gift instead. “It doesn’t have to be chocolate—the sentiment matters most,” he said.

In light of the ongoing price surge, the Kanto Smart Living Cooperative advises consumers to opt for smaller, premium chocolates or consider alternative gifts. Such choices can help ease financial strain while also reducing food waste, allowing people to balance sentiment with responsible spending during the holiday season.

Market analysts note that unless global cocoa supply conditions improve, chocolate prices are unlikely to return to previous levels. Japan’s Valentine’s Day market is gradually shifting from mass consumption toward more refined and diversified offerings, as both businesses and consumers search for a new balance that keeps the spirit of the season alive through more mindful consumption.

Media Contacts:
Kanto Smart Living Cooperative

PR Agency:
MERXWIRE INC.
Ada Huang
[email protected]

SOURCE: Kanto Smart Living Cooperative

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