China: Cocoa Butter Market 2024

Cocoa Butter Market Size in China

The Chinese cocoa butter market totaled $X in 2022, picking up by 1.9% against the previous year. The market value increased at an average annual rate of +1.9% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Cocoa butter consumption peaked at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Cocoa Butter Production in China

In value terms, cocoa butter production expanded slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.4% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when the production volume increased by 28% against the previous year. Over the period under review, production attained the maximum level at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Cocoa Butter Exports

Exports from China

For the fourth consecutive year, China recorded decline in shipments abroad of cocoa butter, which decreased by -35.7% to X tons in 2022. In general, exports recorded a abrupt curtailment. The growth pace was the most rapid in 2018 when exports increased by 44% against the previous year. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, cocoa butter exports contracted markedly to $X in 2022. Overall, exports recorded a abrupt setback. The growth pace was the most rapid in 2018 when exports increased by 69%. Over the period under review, the exports attained the peak figure at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Estonia (X tons), the Netherlands (X tons) and the UK (X tons) were the main destinations of cocoa butter exports from China, together accounting for 75% of total exports. Russia, Germany and the United States lagged somewhat behind, together accounting for a further 23%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Russia (with a CAGR of +51.1%), while the other leaders experienced a decline.

In value terms, Estonia ($X), the Netherlands ($X) and the UK ($X) were the largest markets for cocoa butter exported from China worldwide, with a combined 73% share of total exports. Russia, Germany and the United States lagged somewhat behind, together comprising a further 25%.

In terms of the main countries of destination, Russia, with a CAGR of +43.9%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average cocoa butter export price stood at $X per ton in 2022, waning by -5.1% against the previous year. Over the period under review, export price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of +2.6% 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 -20.2% against 2017 indices. The pace of growth appeared the most rapid in 2013 an increase of 56% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were the United States ($X per ton) and Germany ($X per ton), while the average price for exports to the Netherlands ($X per ton) and the UK ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+3.9%), while the prices for the other major destinations experienced more modest paces of growth.

Cocoa Butter Imports

Imports into China

In 2022, imports of cocoa butter into China expanded slightly to X tons, growing by 4.3% compared with 2021 figures. The total import volume increased at an average annual rate of +4.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 31% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, cocoa butter imports contracted to $X in 2022. Overall, total imports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +8.3% 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 +3.2% against 2020 indices. The most prominent rate of growth was recorded in 2014 when imports increased by 73% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Indonesia (X tons), Malaysia (X tons) and Singapore (X tons) were the main suppliers of cocoa butter imports to China, together accounting for 99% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Indonesia (with a CAGR of +32.1%), while imports for the other leaders experienced mixed trend patterns.

In value terms, Indonesia ($X), Malaysia ($X) and Singapore ($X) were the largest cocoa butter suppliers to China, with a combined 97% share of total imports.

Indonesia, with a CAGR of +36.2%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average cocoa butter import price amounted to $X per ton, falling by -12.6% against the previous year. In general, import price indicated a temperate increase from 2012 to 2022: its price increased at an average annual rate of +4.0% 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 -24.4% against 2020 indices. The pace of growth was the most pronounced in 2014 when the average import price increased by 75%. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Singapore ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+4.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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