Canada: Cocoa Bean Market 2025

Cocoa Bean Market Size in Canada

In 2022, after two years of growth, there was decline in the Canadian cocoa bean market, when its value decreased by -1.2% to $X. In general, consumption, however, saw resilient growth. Cocoa bean consumption peaked at $X in 2021, and then shrank modestly in the following year.

Cocoa Bean Exports

Exports from Canada

In 2022, shipments abroad of cocoa beans increased by 477% to X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports recorded a significant increase. The most prominent rate of growth was recorded in 2018 when exports increased by 2,559% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, cocoa bean exports soared to $X in 2022. In general, exports saw a significant expansion. The most prominent rate of growth was recorded in 2018 with an increase of 2,146% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X tons), Estonia (X tons) and the Netherlands (X tons) were the main destinations of cocoa bean exports from Canada, together comprising 99% of total exports.

From 2012 to 2022, the biggest increases were recorded for Estonia (with a CAGR of +56.4%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the United States ($X) emerged as the key foreign market for cocoa beans exports from Canada, comprising 73% of total exports. The second position in the ranking was taken by Estonia ($X), with a 25% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to +32.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Estonia (+89.1% per year) and the Netherlands (-15.3% per year).

Export Prices by Country

The average cocoa bean export price stood at $X per ton in 2022, surging by 18% against the previous year. Over the period under review, the export price enjoyed modest growth. The most prominent rate of growth was recorded in 2016 when the average export price increased by 129%. As a result, the export price reached the peak level of $X per ton. From 2017 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Estonia (+20.9%), while the prices for the other major destinations experienced a decline.

Cocoa Bean Imports

Imports into Canada

In 2022, after two years of growth, there was decline in overseas purchases of cocoa beans, when their volume decreased by -1.1% to X tons. In general, imports, however, saw a resilient expansion. The most prominent rate of growth was recorded in 2018 with an increase of 148%. Imports peaked at X tons in 2021, and then declined slightly in the following year.

In value terms, cocoa bean imports amounted to $X in 2022. Over the period under review, imports, however, showed a strong expansion. The pace of growth was the most pronounced in 2014 with an increase of 28%. Imports peaked in 2022 and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Cote d'Ivoire (X tons) constituted the largest supplier of cocoa bean to Canada, with a 59% share of total imports. Moreover, cocoa bean imports from Cote d'Ivoire exceeded the figures recorded by the second-largest supplier, Ecuador (X tons), threefold. Ghana (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2022, the average annual growth rate of volume from Cote d'Ivoire stood at +5.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Ecuador (+21.2% per year) and Ghana (+13.5% per year).

In value terms, Cote d'Ivoire ($X) constituted the largest supplier of cocoa beans to Canada, comprising 61% of total imports. The second position in the ranking was held by Ecuador ($X), with a 17% share of total imports. It was followed by Ghana, with a 13% share.

From 2012 to 2022, the average annual growth rate of value from Cote d'Ivoire amounted to +6.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Ecuador (+20.2% per year) and Ghana (+13.3% per year).

Import Prices by Country

The average cocoa bean import price stood at $X per ton in 2022, surging by 3.2% against the previous year. Over the period under review, the import price recorded a mild expansion. The pace of growth was the most pronounced in 2015 an increase of 73%. Over the period under review, average import prices attained the peak figure at $X per ton in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Ghana ($X per ton) and Cote d'Ivoire ($X per ton), while the price for Nigeria ($X per ton) and Ecuador ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+1.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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