Mondelez International, Inc. (MDLZ): Business Model Canvas [Dec-2025 Updated]

You're trying to figure out how a global snacker like Mondelez International, Inc. manages unprecedented input costs, specifically that cocoa shock hitting hard in 2025. It's a tough spot, but their Business Model Canvas reveals a precise strategy for staying ahead. They are leaning hard on Revenue Growth Management and portfolio reshaping to drive expected 2025 organic growth north of $\mathbf{4+\%}$, all while projecting over $\mathbf{\$3 \text{ billion}}$ in Free Cash Flow. That resilience, built on iconic brands and a $\mathbf{\$37.645 \text{ billion}}$ revenue base, is what matters now. Dive into the nine blocks below to see the exact mechanics of their current defense and offense.

Mondelez International, Inc. (MDLZ) - Canvas Business Model: Key Partnerships

The Key Partnerships for Mondelez International, Inc. are critical for scaling global reach, securing sustainable inputs, and driving innovation in adjacent snack categories.

Strategic Product Co-branding

Mondelez International, Inc. uses co-branding to create consumer events and leverage partner brand equity. A notable collaboration involves Lotus Bakeries, which aims to expand the Lotus Biscoff brand in India by utilizing Mondelez International, Inc.'s extensive distribution network. This transatlantic cooperation is also developing co-branded chocolate products, with initial launches planned for early 2025, including Cadbury and Biscoff in the United Kingdom, and Milka and Biscoff in Europe. Mondelez International, Inc. also executed a limited-edition co-branding effort with The Coca-Cola Company, blending Oreo with Coca-Cola Zero Sugar beverage flavors last year.

The scale of the involved brands highlights the potential impact of these alliances:

Global Sourcing Partners and Sustainability Commitments

Securing raw materials, particularly cocoa, involves deep partnerships with farmers through the Cocoa Life program. Mondelez International, Inc. has a goal to source 100% of cocoa volume for its chocolate brands through Cocoa Life by 2025, on a mass balance approach. This commitment builds on an initial investment of $400 million over 10 years, starting in 2012. As of the end of 2024, the program reached approximately 208,000 cocoa farmers across about 3,200 communities, with about 91% of cocoa volumes for chocolate brands sourced through the program.

The Cocoa Life program supports farmers in six origin countries, including Ghana and Côte d'Ivoire, where specific monitoring and incentive programs are active:

• Cocoa Life goal by 2025: Cover 100% of Cocoa Life communities in West Africa with a Child Labor Monitoring & Remediation System (CLMRS).
• In the CFI reporting period (Oct 2022-Sep 2023), the Payment for Ecosystem Services (PES) program reached ~4,500 farmers in Côte d'Ivoire and ~4,600 farmers in Ghana.
• Mapping efforts as of late 2023 covered ~146,000 farms in Ghana and Côte d'Ivoire.

Retail and Wholesale Distribution

Global market penetration relies heavily on established distribution channels. Mondelez International, Inc. is actively growing this infrastructure, adding hundreds of thousands of stores annually across its markets. The company's overall scale is reflected in its reported financial figures:

• FY2024 Net Revenues: Approximately $36.44 billion.
• Expected 2025 Free Cash Flow: $3+ billion.
• Expected 2025 Organic Net Revenue Growth: 4%+.

Collaboration on Sustainability and Innovation

Mondelez International, Inc. partners with peers to scale sustainable innovation through the 100+ Accelerator platform, which was launched in 2018 by AB InBev. Mondelez International, Inc. joined in May 2025 as the sixth corporate partner, joining companies like Unilever and AB InBev. To date, the Accelerator has supported approximately 190 startups across more than 40 countries, focusing on areas like regenerative agriculture and circular packaging.

Strategic M&A for Adjacent Category Expansion

The company remains open to strategic acquisitions to expand into adjacent categories, specifically mentioning cakes and pastries. This aligns with the market opportunity, as the global cakes and pastries market size is estimated to be a $97 billion opportunity in 2025, projected to grow from $94.64 billion in 2024 to $101.92 billion in 2025. Mondelez International, Inc. is already expanding its presence in China within this sector following the acquisition of Evert.

Mondelez International, Inc. (MDLZ) - Canvas Business Model: Key Activities

You're looking at the core engine of Mondelez International, Inc., the day-to-day work that keeps the global snacking giant moving forward, especially as it navigates commodity shocks and consumer shifts in late 2025. Here's a breakdown of the essential activities driving the business.

Manufacturing and global supply chain optimization across over 150 countries

Mondelez International, Inc. maintains a massive global footprint, which requires constant optimization of its manufacturing and logistics network. The company is focused on embedding sustainability and human rights due diligence deep into this structure. As of year-end 2024, approximately 96% of owned manufacturing sites had completed third-party SMETA audits within the last three years. This scrutiny extends to suppliers, with about 98% of prioritized supplier sites audited in the same period. The signature Cocoa Life sustainability program, backed by a $1 billion investment commitment from 2012 through 2030, continues to scale its monitoring systems. By the end of 2024, this meant approximately 89% of Cocoa Life communities in West Africa, representing around 2,480 communities, were covered by the Child Labor Monitoring & Remediation System (CLMRS). The goal is to cover all West African Cocoa Life communities with CLMRS by the end of 2025. This supply chain focus is critical given that the price of cocoa experienced a near-threefold increase between late 2023 and early 2025. The company has conducted more than 240,000 interviews to support child labor prevention efforts. The company's teams are focused on executing clear plans for volume improvement, significantly increasing growth investments, and creating meaningful cost efficiencies.

Revenue Growth Management (RGM), including strategic pricing to offset input costs

Managing revenue through strategic pricing is a primary activity, especially to counter input cost inflation, like the near-threefold rise in cocoa prices seen through early 2025. The company's RGM strategy involves price increases and pack-size optimizations. For the third quarter of 2025, Net Revenues reached $9.74 billion, with Organic Net Revenue growing 3.4%. This growth was heavily reliant on pricing, which contributed 8.0pp (percentage points) to the organic growth, while volume/mix actually declined by 4.6 percentage points. To be fair, the second quarter of 2025 showed even stronger pricing leverage, with Organic Net Revenue up 5.6%, driven by +7.1 percentage points from pricing, partially offsetting a -1.5% volume/mix decline. The company reaffirmed its full-year 2025 outlook, targeting Organic Net Revenue growth of 4%+. Here's the quick math on the recent quarterly performance:

This shows the increasing reliance on price realization to drive top-line growth as volume softens.

Brand building and high-impact advertising for iconic brands like Oreo and Cadbury

Maintaining the strength of iconic brands like Oreo and Cadbury requires significant investment in brand building. The company is actively calibrating expenses, having identified 40% of its total marketing budget that was not working as of late 2024, signaling a push for efficiency. However, growth investments are being significantly increased in 2025. To enhance speed and personalization in advertising, Mondelez International, Inc. developed a generative AI tool called AIDA (AI + Data). The company has spent upwards of $40 million on this technology so far. Mondelez expects this tool could cut the cost of creating marketing content by up to 50% in the long term. The company also features among the biggest spenders on outdoor advertising last year, with food brand spending on out-of-home advertising increasing by 28% between 2021 and 2024 following the announcement of the HFSS ad ban.

Portfolio reshaping and expansion into high-growth adjacencies like cakes

Portfolio reshaping is a continuous activity, focusing on core categories like chocolate and biscuits while expanding strategically. A key part of this has been the acquisition of the Chinese cakes and pastries company Evirth, which contributed incremental net revenue in the third quarter of 2025. The company's fiscal 2024 net revenues were approximately $36.4 billion, with an organic growth rate of 4.3%. The 2025 outlook targets an Organic Net Revenue growth of 4%+, suggesting continued focus on organic momentum alongside bolt-on acquisitions. The company is doubling down on its core categories while pursuing growth avenues in adjacent markets.

Research and development for product innovation and health-focused reformulations

While specific 2025 R&D investment figures aren't immediately available, the strategic direction involves balancing indulgence with health-focused innovation. The company's teams are focused on executing clear plans for volume improvement and increasing growth investments. The long-term strategy, mentioned previously, included a goal to generate half of revenue from snacks perceived as healthier over a five-year period. Currently, the focus is on managing the profit and loss statement through cost cutting and portfolio optimization as cocoa prices moderate. The company is working to improve sourcing practices and diversify its supply base to reduce reliance on single regions.

Mondelez International, Inc. (MDLZ) - Canvas Business Model: Key Resources

You're looking at the core assets that let Mondelez International, Inc. operate globally and command shelf space. These aren't just things they own; they are the engines driving their revenue across more than 150 countries.

The most visible resources are the iconic global brands. Think of the power behind Oreo, Cadbury Dairy Milk, Milka, Ritz, and Clif Bar. These names are deeply embedded in consumer habits. To give you a sense of the portfolio depth, the chocolate category alone saw strong growth across global and local brands like Cadbury Dairy Milk, Milka, Lacta, and Cote d'Or in early 2025, while biscuits and baked snacks are supported by LU, 7DAYS, and Perfect Snacks, among others.

Next up is the extensive global distribution network. This physical reach is a massive barrier to entry for competitors. Mondelez International is actively expanding this resource, adding hundreds of thousands of stores annually across various markets. For instance, in the first quarter of fiscal 2025, the company expanded its presence by entering more than 100,000 stores in emerging markets alone, deepening market penetration.

Financially, the company maintains significant financial flexibility. For the full year 2025, Mondelez International continues to expect Free Cash Flow of over $3 billion. To be fair, the 2024 Free Cash Flow was reported at $3.52 billion, showing a strong base. In the first nine months of 2025, the company returned $3.7 billion to shareholders via dividends and share repurchases, demonstrating capital deployment capacity.

The firm's value is also locked in its proprietary recipes, manufacturing technology, and intellectual property. While specific IP valuation is complex, the operational focus on efficiency is a measurable resource. Productivity improvements are reported as being ahead of schedule, and the company expects approximately $250 million in SG&A overhead savings for 2025 before inflation.

Finally, the commitment to sustainable sourcing programs like Cocoa Life builds supply chain resilience, which is critical given commodity volatility. The goal is for 100% of cocoa volumes for Mondelez International chocolate brands to be sourced through Cocoa Life by 2025. As of the end of 2024, approximately 91% of that volume was covered, reaching around 208,000 registered farmers and approximately 3,200 communities. This program represents a total investment commitment of $1 billion by 2030.

• Cocoa Life supports farmers across six countries: Ghana, Côte d'Ivoire, Indonesia, Dominican Republic, India, and Brazil.
• In the CFI reporting period ending September 2024, around 1,134,000 multi-purpose trees were distributed for on-farm planting via agroforestry in Côte d'Ivoire and Ghana.
• Good Agricultural Practices (GAP) trainings were offered to around 63,000 farmers in Côte d'Ivoire and approximately 22,600 in Ghana during that same period.

Finance: draft 13-week cash view by Friday.

Mondelez International, Inc. (MDLZ) - Canvas Business Model: Value Propositions

Trusted, iconic, and emotionally resonant snack brands for moments of indulgence.

Mondelez International, Inc. maintains leadership through a portfolio of globally recognized brands. The company's trailing twelve months (TTM) revenue ending September 30, 2025, stood at $37.645 billion. The core value is delivering on the mission to create delicious moments of joy with these established names.

• Iconic brands include Oreo cookies, Cadbury chocolate, and Ritz crackers.
• Other key brands are Chips Ahoy, Halls, LU, Clif Bar, Tate's Bake Shop, Milka, and Toblerone.
• The company holds the number one rank in the global snack food market with an estimated 16% market share.

Global availability and consistent quality across over 150 markets.

Mondelez International, Inc. empowers people to snack right in over 150 countries around the world. The firm operates in approximately 160 countries. This extensive footprint helps offset regional economic challenges.

Mindful snacking options, targeting 20% of global snacks net revenue from portion control by end of 2025.

The company has set a goal to have portion control products account for 20% of its global snacks net revenue by the end of 2025. This focus is a direct response to consumer demands for healthier, more controlled consumption. As of 2024 progress, over 84% of revenue was already derived from individually wrapped mindful portions or clear portion guidance on packs. Consumers are looking to balance enjoyment and wellness, with 69% of global consumers looking for portion-controlled snacks.

The geographic and recent financial context supports this global value delivery:

Value and affordability through varied price-pack architecture, especially in emerging markets.

The company uses revenue growth management strategies to counter cost inflation. Pricing and revenue growth management strategies impacted about 50% of chocolate revenue in 2025. In the US, Mondelez International is adjusting to consumer budget constraints by offering smaller pack sizes and reducing heavy price promotions. In emerging markets, the focus remains on brand equity, distribution expansion, and maintaining affordable price points.

Innovation through limited-time offerings (LTOs) and brand collaborations.

Product innovation is a key focus to gain market share. The company expanded its portfolio in 2024 with new formats like Milka brownies and Oreo cakes. For example, RITZ Crackers introduced a new Hot Honey flavor in February 2025. The company also introduced new varieties of core products, such as zero-sugar Oreos in China in 2024.

Mondelez International, Inc. (MDLZ) - Canvas Business Model: Customer Relationships

You're looking at how Mondelez International, Inc. keeps its massive customer base engaged, which is key since its 2024 net revenues hit approximately $36.4 billion. The relationship is fundamentally built on broad reach, but it's getting much sharper in its execution.

Mass-market relationship driven by brand equity and advertising spend

Mondelez International relies on its powerful brand equity to maintain a mass-market connection. This is backed by significant investment, though the company is actively calibrating that spend for efficiency in 2025. Looking back, the advertising expense for fiscal years ending December 2020 to 2024 averaged $34.193 billion, peaking at $44.036 billion in December 2024. For 2025, the CFO indicated putting a 'tight lid' on marketing expenditures, having identified 40% of the total marketing budget that was 'not working.' Still, the company is investing heavily in new content creation methods; for instance, it spent upwards of $40 million on a generative AI tool, AIDA, expecting it to cut marketing content production costs by 30% to 50%. The overall 2025 revenue growth target remains around 5%, showing the underlying strength of the brands despite cost pressures.

High brand loyalty, particularly in core markets like North America for brands like Oreo

Consumer loyalty is a bedrock for Mondelez International, especially in North America, which helps offset volume softness seen elsewhere. The CEO specifically noted strong brand loyalty in North America for brands like Oreo, Chips Ahoy, and Ritz during the Q1 2025 earnings call. Data from late 2024 showed that 84% of North American consumers reported being loyal to a particular snack or brand for quite a while, and 88% of consumers overall snack daily and maintain purchases despite price increases. This resilience is critical, as volume mix declined by 3.5% in Q1 2025 and 1.5% in Q2 2025. The company is also strategically expanding into adjacent categories; it currently holds the No. 3 position globally in the cakes and pastries segment, a market estimated at $97 billion.

Here's a quick look at how brand strength and recent performance metrics intersect:

Targeted digital engagement and social media marketing for cultural relevance

Mondelez International is aggressively pursuing digital channels to personalize interactions. The company is investing more than $1 billion to become a digital commerce leader in snacks, with a goal to generate 20% of its sales through digital commerce by 2030. Direct-to-consumer (DTC) currently makes up about 15% of its digital sales. The use of AI, like the AIDA tool, allows for personalized material for specific consumer groups, such as tailoring content for Chips Ahoy! in the U.S. or Milka in Germany. This focus on digital engagement is part of a broader strategy to accelerate leadership in what they term digital snacking.

Strategic customer negotiations with large retailers on pricing and promotions

Managing relationships with large retailers involves navigating pricing and elasticity trade-offs globally. Pricing and revenue growth management strategies have impacted about 50% of chocolate revenue. In Europe, management noted improved execution in pricing negotiations in Q1 2025 compared to Q4 2024, with minimal disruptions. However, in Europe, previous complexities related to pricing negotiations resulted in temporary retailer delistings and volume declines, though analysts expected improvement in the latter half of 2025. In the U.S., the company is adapting to consumer budget constraints by adjusting its approach, specifically by offering smaller pack sizes and reducing heavy price promotions. These revenue management efforts are expected to contribute to approximately $250 million in SG&A overhead savings in 2025 before inflation.

The core of the relationship management is balancing pricing power with volume preservation.

• Pricing execution drove 3.1% organic net revenue growth in Q1 2025.
• Elasticity levels in Europe and emerging markets are reported as within expectations.
• The company is focusing on pack-size optimizations to drive growth.
• The company is actively expanding its distribution network, adding hundreds of thousands of stores annually across various markets.

Finance: draft 13-week cash view by Friday.

Mondelez International, Inc. (MDLZ) - Canvas Business Model: Channels

You're looking at how Mondelez International, Inc. gets its snacks into the hands of consumers globally as of late 2025. The distribution network is massive, touching nearly every corner of the globe, but the focus is shifting to meet current consumer realities.

Traditional retail: supermarkets, hypermarkets, and convenience stores globally.

The core of Mondelez International, Inc.'s distribution remains the traditional brick-and-mortar store base, which accounts for the vast majority of its sales volume. The company operates in over 150 countries, meaning this channel is highly fragmented and localized.

Looking at the regional revenue base that feeds these channels, you can see the scale of the traditional footprint. For fiscal year 2023, the revenue split across major geographic segments was:

For the twelve months ending September 30, 2025, Mondelez International, Inc.'s total revenue reached $37.645B. The company continues to expand this network, adding hundreds of thousands of stores annually across various markets. In North America, specifically, the company is adjusting to consumer budget constraints by offering smaller pack sizes and reducing heavy price promotions within these traditional outlets.

E-commerce platforms and direct-to-consumer (DTC) channels, a key growth focus.

While specific late-2025 e-commerce revenue percentages aren't public, the strategic emphasis on this area is clear, positioning it as a key growth vector. Mondelez International, Inc. is actively working on its e-commerce future. The company is focused on driving growth through digital shelf presence and optimizing online fulfillment.

The strategic focus areas for digital channel enhancement include:

• Prioritizing larger, impactful innovations for online visibility.
• Expanding presence in adjacent categories like cakes and pastries online.
• Leveraging data to refine targeted digital activation with retail partners.

The overall company outlook for 2025 includes an expected Organic Net Revenue growth of 4%+, which relies partly on success in channels like e-commerce.

Value channels: club stores and discount retailers with specific pack sizes.

Mondelez International, Inc. is leaning into value and club channels as a direct response to consumer price sensitivity, especially in markets like the US. This is a tactical move to maintain volume growth amidst pricing pressures from commodity inflation, like cocoa costs.

Actions taken to activate this channel include:

• Increasing distribution in value-oriented club and convenience stores.
• Introducing lower-priced pack sizes, with some products in the $3-4 range in North America.
• Implementing new targeted promotions specifically for these value outlets.

The company is using these channels to counter volume declines seen in some segments. The 2025 Free Cash Flow expectation of $3+ billion is partly supported by successful execution against these targeted pricing and channel strategies.

Travel retail and duty-free for premium and new product launches.

Travel retail and duty-free serve as important, albeit smaller, channels for Mondelez International, Inc., often used for premium positioning and introducing new or limited-edition products to an international audience. While specific revenue figures for this segment are not broken out in the latest reports, this channel is critical for brand visibility in high-traffic international hubs.

The channel supports the overall global strategy by:

• Showcasing premium or high-margin offerings.
• Testing market reception for new product concepts before wider rollout.
• Maintaining brand presence in international transit points.

The company's ability to navigate volatility, as evidenced by its 2025 outlook, depends on the performance across all its diverse routes to market.

Mondelez International, Inc. (MDLZ) - Canvas Business Model: Customer Segments

You're looking at the core audience for Mondelez International, Inc. as of late 2025. The company's strategy hinges on serving a massive, varied global base, but the growth engine is clearly shifting toward specific international pockets and evolving consumer needs.

The overall scale is huge; for fiscal year 2024, Mondelez International, Inc. posted net revenues of approximately \$36.44 billion, with 74% generated outside the United States.

The customer base is segmented geographically and by purchasing power, which directly influences product focus. Here's a look at the recent revenue performance across these major customer groupings, based on third-quarter 2025 results:

Global mass-market consumers seeking affordable, convenient snacks form the bedrock of the business, especially in categories like biscuits, which represented 48.85% of total revenue in 2024, amounting to \$17.80 billion. Still, the focus on affordability is most acute in high-growth regions.

Emerging market consumers are a primary focus for growth, where affordability drives volume. For instance, China delivered another strong quarter in Q1 2025 with mid-single-digit volume-led growth, centered on brands like Oreo. In contrast, India saw a high single-digit decline in consumption during Q1 2025 due to inflationary pressures.

Developed market consumers in North America and Europe represent the largest revenue base, though performance varies. In Q2 2025, Europe showed strong net revenue growth of 18.7%, while North America saw a 3.5% decline in net revenues. For the full year 2024, Europe accounted for 37.3% of net revenues, or \$13.31 billion.

Health-conscious consumers are being addressed through portfolio evolution, though the core remains indulgence. Mondelez International, Inc. is aggressively expanding into the cakes and pastries segment in 2025, a market estimated to be valued at \$97 billion. The company currently holds the No. 3 position globally in this segment.

Younger consumers, including Gen Z, are targeted through specific brand positioning and digital reach. The company uses customer data to tailor marketing messages, emphasizing the emotional connection of snacking. Iconic brands like Oreo and Cadbury are specifically positioned to resonate with younger demographics and families.

• The chocolate category, which appeals broadly, grew 7.4% in fiscal year 2024.
• The company returned \$2.9 billion to shareholders through dividends and share repurchases in the first half of 2025.
• In Q3 2025, the company's cash provided by operating activities was \$2.12 billion for the three months ended September 30, 2025.
• The 2025 outlook projects an expected 4%+ Organic Net Revenue growth.

Mondelez International, Inc. (MDLZ) - Canvas Business Model: Cost Structure

You're looking at the cost side of the ledger for Mondelez International, Inc. as of late 2025, and frankly, the story is dominated by one major input: cocoa. It's a tough environment for a company with so many chocolate brands.

High raw material costs, especially unprecedented cocoa input costs, a major 2025 headwind.

The price of cocoa has been brutal, experiencing a near threefold increase between late 2023 and early 2025. This surge, driven by supply deficits and weather, meant raw material costs were up approximately 91% year-over-year as of Q1 2025. This pressure directly hit the bottom line. For instance, the Adjusted Gross Profit margin in the third quarter of 2025 fell by 1,010 basis points to land at 30.4%. This was primarily due to higher raw material and transportation costs. The company projected that its full-year 2025 Adjusted Earnings Per Share (EPS) would decline by about 15% on a constant currency basis, largely because of this inflation. To manage this, Mondelez International implemented average price increases of 6.6% across key categories earlier in the year, and by Q3 2025, pricing increases of 8% were driving organic net revenue growth.

Significant manufacturing, logistics, and distribution expenses.

Beyond the raw materials, the costs to make and move the product remain substantial. The Cost of Goods Sold (COGS) for the twelve months ending September 30, 2025, hit $25.955 billion, which was a 17.26% increase year-over-year. This reflects the combined impact of input costs and the scale of operations. The logistics side, specifically transportation costs, was explicitly cited alongside raw materials as a primary driver for the margin compression seen in Q3 2025.

Here's a quick look at how key cost-related metrics stacked up through the third quarter of 2025:

Advertising and consumer promotion (A&CP) spending to support brand equity.

Mondelez International is still spending to keep its brands top-of-mind, though they showed some flexibility in Q3 2025. The decline in Adjusted Operating Income was partially offset by lower advertising and consumer promotion costs during that quarter. Still, management is focused on increasing growth investments overall. The company noted that pricing and revenue growth management strategies impacted about 50% of its chocolate revenue as of June 2025. This suggests a strategic shift in how they are allocating promotional dollars, perhaps favoring price stability over deep discounts, as consumers have been spending the same amount of money for over two years despite rising prices.

Productivity and cost-saving initiatives to reduce overhead and supply chain costs.

To fight the inflation, the company is pushing hard on internal efficiencies. Mondelez International expects approximately $250 million in SG&A (Selling, General, and Administrative) overhead savings for 2025 before accounting for inflation. These productivity efforts are definitely helping; lower manufacturing costs from these initiatives partially offset the margin compression in Q3 2025. Furthermore, the decline in Adjusted Operating Income was also partially offset by reported lower overhead costs. The teams are focused on executing clear plans for these cost efficiencies.

Acquisition and integration costs related to portfolio expansion.

Portfolio expansion is another cost factor, though it can also contribute to revenue. The Q3 2025 Adjusted EPS decline was partially offset by the impact from an acquisition. For example, net revenues in Q3 2025 included incremental revenue from the acquisition of Evirth. The company is also expanding into adjacent categories like cakes and pastries following the acquisition of Evert. These integration costs, while present, are being managed alongside the ongoing commodity crisis.

Mondelez International, Inc. (MDLZ) - Canvas Business Model: Revenue Streams

You're looking at how Mondelez International, Inc. brings in its money as of late 2025. The top-line performance in the third quarter of 2025 showed net revenues hitting $9.74 billion, which was a 5.9% jump year-over-year. For the trailing twelve months ending September 30, 2025, the total revenue for Mondelez International, Inc. was $37.645 billion, reflecting a 4.13% increase over the prior twelve-month period.

The revenue base is clearly segmented across its global snacking portfolio, with biscuits and baked snacks still making up the largest piece, though chocolate is proving to be the stronger growth engine right now. Honestly, the mix of revenue sources is key to navigating input cost volatility, especially with cocoa prices being so high earlier in the year. Here's a quick look at the segment contribution based on Q3 2025 figures.

The growth in the chocolate category, which includes brands like Cadbury and Milka, is definitely a strong growth driver, posting an organic net revenue increase of 11.3% in the third quarter. Sales of Biscuits and Baked Snacks, which features iconic brands like Oreo and Ritz, saw more modest growth at 2.1% organically, partly due to soft consumption in the US market. The overall organic net revenue growth for Mondelez International, Inc. in Q3 2025 was 3.4%, which was achieved despite a volume/mix decline of 4.6 percentage points.

This means revenue generated from strategic pricing actions and Revenue Growth Management was critical to hitting that top-line number. In Q3 2025, pricing actions contributed 8.0 percentage points to the organic growth, effectively offsetting the volume softness. Management is focused on continuing these Revenue Growth Management initiatives, alongside pack-size optimizations, to support the full-year outlook. Mondelez International, Inc. expects 2025 Organic Net Revenue growth to be 4%+. For context, analyst estimates for the full-year 2025 revenue were around $39.24 billion, up from 2024 net revenues of approximately $36.441B.

You can see the primary revenue drivers broken down by category performance for the third quarter of 2025:

• Sales of Chocolate: Organic Net Revenue Growth of 11.3%.
• Sales of Biscuits and Baked Snacks: Organic Net Revenue Growth of 2.1%.
• Gum & Candy: Organic Net Revenue Growth of 1.9%.
• Overall Organic Net Revenue Growth (Q3 2025): 3.4%.