Asia: Cocoa Butter Market 2024

Cocoa Butter Market Size in Asia

The Asian cocoa butter market stood at $X in 2022, stabilizing at the previous year. Over the period under review, consumption showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.

Cocoa Butter Production in Asia

In value terms, cocoa butter production amounted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.3% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2014 with an increase of 17%. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a lower figure.

Cocoa Butter Exports

Exports in Asia

In 2022, approx. X tons of cocoa butter were exported in Asia; remaining relatively unchanged against the year before. The total export volume increased at an average annual rate of +1.8% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. The growth pace was the most rapid in 2018 with an increase of 11% against the previous year. The volume of export peaked at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, cocoa butter exports dropped to $X in 2022. Total exports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -19.6% against 2019 indices. The growth pace was the most rapid in 2014 when exports increased by 69%. The level of export peaked at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Indonesia (X tons) and Malaysia (X tons) dominates exports structure, together generating 84% of total exports. It was distantly followed by Singapore (X tons), constituting a 9.5% share of total exports. India (X tons) and Turkey (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +9.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest cocoa butter supplying countries in Asia were Malaysia ($X), Indonesia ($X) and Singapore ($X), together comprising 95% of total exports. India and Turkey lagged somewhat behind, together comprising a further 4.5%.

India, with a CAGR of +13.4%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, waning by -7.9% against the previous year. Export price indicated a moderate expansion from 2012 to 2022: its price increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cocoa butter export price decreased by -19.2% against 2019 indices. The growth pace was the most rapid in 2014 an increase of 55% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Malaysia ($X per ton) and Turkey ($X per ton), while India ($X per ton) and Indonesia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+5.6%), while the other leaders experienced more modest paces of growth.

Cocoa Butter Imports

Imports in Asia

Cocoa butter imports expanded to X tons in 2022, with an increase of 4.1% against 2021. The total import volume increased at an average annual rate of +3.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 25%. The volume of import peaked in 2022 and is likely to continue growth in the near future.

In value terms, cocoa butter imports fell to $X in 2022. Total imports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +7.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +14.0% against 2018 indices. The pace of growth was the most pronounced in 2014 with an increase of 78%. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Japan (X tons), India (X tons), Turkey (X tons) and China (X tons) represented the largest importer of cocoa butter in Asia, creating 68% of total import. The United Arab Emirates (X tons) held a 6.1% share (based on physical terms) of total imports, which put it in second place, followed by Singapore (5.8%) and Malaysia (5.1%).

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +34.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest cocoa butter importing markets in Asia were Japan ($X), India ($X) and Turkey ($X), together comprising 51% of total imports.

In terms of the main importing countries, India, with a CAGR of +38.5%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Asia amounted to $X per ton, with a decrease of -11.1% against the previous year. Import price indicated a temperate expansion from 2012 to 2022: its price increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cocoa butter import price decreased by -19.6% against 2020 indices. The pace of growth appeared the most rapid in 2014 an increase of 57%. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Singapore ($X per ton) and the United Arab Emirates ($X per ton), while Japan ($X per ton) and India ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+6.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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