EU: Cocoa Paste Market 2024

Cocoa Paste Market Size in the EU

After three years of growth, the EU cocoa paste market decreased by -5.1% to $X in 2021. The market value increased at an average annual rate of +1.5% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market remained at a somewhat lower figure.

Cocoa Paste Production in the EU

In value terms, cocoa paste production reduced modestly to $X in 2021 estimated in export price. In general, production, however, continues to indicate a pronounced reduction. The most prominent rate of growth was recorded in 2016 when the production volume increased by 6.1%. As a result, production attained the peak level of $X. From 2017 to 2021, production growth remained at a lower figure.

Cocoa Paste Exports

Exports in the EU

In 2021, approx. X tons of cocoa paste were exported in the European Union; picking up by 20% against the year before. The total export volume increased at an average annual rate of +4.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, cocoa paste exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +4.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, the Netherlands (X tons) represented the largest exporter of cocoa paste, achieving 55% of total exports. Germany (X tons) held a 21% share (based on physical terms) of total exports, which put it in second place, followed by France (9.4%). The following exporters - Belgium (X tons), Poland (X tons), Bulgaria (X tons) and Spain (X tons) - together made up 12% of total exports.

From 2012 to 2021, average annual rates of growth with regard to cocoa paste exports from the Netherlands stood at +6.4%. At the same time, Bulgaria (+104.1%), Poland (+4.1%), Belgium (+2.6%) and Germany (+2.3%) displayed positive paces of growth. Moreover, Bulgaria emerged as the fastest-growing exporter exported in the European Union, with a CAGR of +104.1% from 2012-2021. Spain and France experienced a relatively flat trend pattern. While the share of the Netherlands (+9.2 p.p.) and Bulgaria (+2.9 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of France (-3.7 p.p.) and Germany (-3.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Netherlands ($X) remains the largest cocoa paste supplier in the European Union, comprising 52% of total exports. The second position in the ranking was taken by Germany ($X), with a 21% share of total exports. It was followed by France, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value in the Netherlands totaled +6.0%. The remaining exporting countries recorded the following average annual rates of exports growth: Germany (+2.1% per year) and France (+0.8% per year).

Export Prices by Country

The export price in the European Union stood at $X per ton in 2021, almost unchanged from the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the export price increased by 15%. The level of export peaked at $X per ton in 2016; however, from 2017 to 2021, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in Belgium ($X per ton) and France ($X per ton), while the Netherlands ($X per ton) and Germany ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+0.5%), while the other leaders experienced mixed trends in the export price figures.

Cocoa Paste Imports

Imports in the EU

In 2021, supplies from abroad of cocoa paste decreased by -5% to X tons for the first time since 2016, thus ending a four-year rising trend. The total import volume increased at an average annual rate of +3.0% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when imports increased by 14% against the previous year. The volume of import peaked at X tons in 2020, and then fell in the following year.

In value terms, cocoa paste imports rose slightly to $X in 2021. The total import value increased at an average annual rate of +2.7% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2014 with an increase of 15%. Over the period under review, imports hit record highs in 2021 and are likely to continue growth in years to come.

Imports by Country

The countries with the highest levels of cocoa paste imports in 2021 were the Netherlands (X tons), Spain (X tons), Germany (X tons), Belgium (X tons) and France (X tons), together amounting to 80% of total import. Poland (X tons) held the next position in the ranking, followed by Italy (X tons). All these countries together took approx. 13% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Italy (with a CAGR of +11.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Belgium ($X) and Germany ($X) appeared to be the countries with the highest levels of imports in 2021, together comprising 54% of total imports. France, Spain, Poland and Italy lagged somewhat behind, together comprising a further 38%.

Italy, with a CAGR of +11.2%, saw the highest rates of growth with regard to the value of imports, among 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 2021, the import price in the European Union amounted to $X per ton, with an increase of 10% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The level of import peaked at $X per ton in 2016; however, from 2017 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Italy ($X per ton), while Spain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+0.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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