Asia-Pacific: Cocoa Butter Market 2024

Cocoa Butter Market Size in Asia-Pacific

The Asia-Pacific cocoa butter market stood at $X in 2022, growing by 1.8% against the previous year. In general, consumption saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Cocoa Butter Production in Asia-Pacific

In value terms, cocoa butter production expanded modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.2% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2014 when the production volume increased by 20%. As a result, production reached the peak level of $X. From 2015 to 2022, production growth remained at a lower figure.

Cocoa Butter Exports

Exports in Asia-Pacific

Cocoa butter exports declined to X tons in 2022, leveling off at the previous year. The total export volume increased at an average annual rate of +1.8% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2018 with an increase of 10% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021, and then contracted slightly in the following year.

In value terms, cocoa butter exports reduced to $X in 2022. Total exports indicated a remarkable 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 -19.3% against 2019 indices. The most prominent rate of growth was recorded in 2014 with an increase of 70% against the previous year. The level of export peaked at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

Indonesia (X tons) and Malaysia (X tons) prevails in exports structure, together comprising 86% of total exports. It was distantly followed by Singapore (X tons), generating a 9.7% share of total exports. India (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-Pacific were Malaysia ($X), Indonesia ($X) and Singapore ($X), with a combined 96% share of total exports. These countries were followed by India, which accounted for a further 2.6%.

India, with a CAGR of +13.4%, recorded the highest growth rate of the value of exports, in terms of 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

The export price in Asia-Pacific stood at $X per ton in 2022, falling by -7.7% against the previous year. Export price indicated noticeable growth from 2012 to 2022: its price increased at an average annual rate of +4.4% 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 when the export price increased by 56%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Malaysia ($X per ton) and Singapore ($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-Pacific

For the fifth consecutive year, Asia-Pacific recorded growth in overseas purchases of cocoa butter, which increased by 12% to X tons in 2022. The total import volume increased at an average annual rate of +4.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when imports increased by 15%. Over the period under review, imports reached the peak figure in 2022 and are likely to see steady growth in the near future.

In value terms, cocoa butter imports shrank to $X in 2022. Total imports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +8.1% 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 +17.1% against 2017 indices. The growth pace was the most rapid in 2014 with an increase of 83%. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

The purchases of the four major importers of cocoa butter, namely Australia, Japan, India and China, represented more than two-thirds of total import. Singapore (X tons) took a 6.5% share (based on physical terms) of total imports, which put it in second place, followed by Malaysia (5.7%). New Zealand (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by India (with a CAGR of +34.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest cocoa butter importing markets in Asia-Pacific were Australia ($X), Japan ($X) and India ($X), together comprising 62% of total imports.

India, with a CAGR of +38.5%, saw the highest growth rate of the value of imports, in terms of the main importing countries 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-Pacific amounted to $X per ton, declining by -13.3% against the previous year. Import price indicated a measured expansion from 2012 to 2022: its price increased at an average annual rate of +3.4% 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 -21.8% against 2020 indices. The most prominent rate of growth was recorded in 2014 an increase of 59% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Singapore ($X per ton) and Malaysia ($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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