Chocolate is perhaps the world's most delectable treat. Unfortunately, the global supplies of chocolate are becoming increasingly scarce.

The world is currently in the midst of what could be the longest streak of consecutive chocolate scarcities in more than five decades. Due to the factors that affect cocoa crops such as drought and disease, farmers are producing less cocoa than what the world consumes.

According to a report entitled, "Destruction by Chocolate," supply for chocolates are decreasing due to poor farming methods. And since the demand outstrips the supply, it drives the world for a "chocolate deficit."

More than a billion people from China, Indonesia, India, Brazil and the former Soviet Union have enter the market for cocoa since the '90s. However, the supply has not able to keep up with the increasing demand and the stockpiles for cocoa are falling, Daily Mail noted.

"Demand is growing faster than supply and for the downstream sector the possibility of a supply shortfall is a looming nightmare," Hardman Agribusiness managing director and study author Doug Hawkins said. "In no other important commodity or business sector is there such a fragile balance between security of commodity supply and downstream brand performance. This fragility has increased with the emergence of the big new economies in Asia, Latin America and FSU."

Hawkins also added that the production of cocoa is under strain as farming methods have not changed for centuries.

"Unlike other tree crops that have benefited from the development of modern, high yielding cultivars and crop management techniques to realize their genetic potential, more than 90 percent of the global cocoa crop is produced by smallholders on subsistence farms with unimproved planting material," he explained, as per Herald Scotland.

He also revealed that there are signs that the world will be experiencing a chocolate deficit of 100,000 tons annually in the next few years.

Despite the looming chocolate shortage, Hawkins said Latin American farmers could solve the imminent threat in the supply of chocolates in the world. In fact, the future of cocoa production is being designed in the LatAm region, where the crop is being re-imagined.

"Our research report lays bare a spiral of decline in Asia and the unpalatable truth about African production whilst shining a spotlight on the exciting developments in Latin America," Hawkins said.

"Asian cocoa production is in a spiral of decline, African cocoa production cannot be described as sustainable and only in the Americas is a vibrant, progressive cocoa culture developing which offers the hope of a sustainable, reliable supply of high quality cocoa," he added.

Hawkins also emphasized that Latin American farmers are eager to develop new methods of farming that will save the world from the devastating chocolate shortage.

"We are seeing in Latin America, particularly in Ecuador, farmers who are saying, 'Let's bring it into the 21st century, let's rethink this crop,'" Hawkins said, Daily Mirror quoted. "That's what is happening: these are highly professional farms producing cocoa in an efficient way."

The latest threat in the global supply of chocolates is not actually the first time it has been reported. As a matter of fact, a chocolate shortage report had already surfaced two years ago.

Based on 2014 report, chocolate manufacturers had revealed that the world's chocolate supply has been diminishing and consumers are eating through the supply faster than makers can produce. Experts even predicted that worldwide chocolate shortage will be likely experienced by 2030.