EU: Cocoa Powder Market 2024

Cocoa Powder Market Size in the EU

In 2022, the EU cocoa powder market increased by 23% to $X, rising for the second consecutive year after two years of decline. Overall, consumption, however, saw a slight contraction. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Cocoa Powder Production in the EU

In value terms, cocoa powder production rose rapidly to $X in 2022 estimated in export price. In general, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the production volume increased by 19% against the previous year. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Cocoa Powder Exports

Exports in the EU

Cocoa powder exports contracted to X tons in 2022, shrinking by -5.8% on the previous year. The total export volume increased at an average annual rate of +3.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2014 when exports increased by 10% 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 powder exports reduced slightly to $X in 2022. In general, exports saw a slight shrinkage. The growth pace was the most rapid in 2016 with an increase of 20% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, the Netherlands (X tons) represented the main exporter of cocoa powder (not sweetened), generating 49% of total exports. Germany (X tons) ranks second in terms of the total exports with a 21% share, followed by Spain (14%) and France (8.1%). Italy (X tons) followed a long way behind the leaders.

Exports from the Netherlands increased at an average annual rate of +2.3% from 2012 to 2022. At the same time, Italy (+12.8%), Germany (+5.6%) and Spain (+4.4%) displayed positive paces of growth. Moreover, Italy emerged as the fastest-growing exporter exported in the European Union, with a CAGR of +12.8% from 2012-2022. France experienced a relatively flat trend pattern. While the share of Germany (+4.2 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of France (-3.3 p.p.) and the Netherlands (-4.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Netherlands ($X) remains the largest cocoa powder supplier in the European Union, comprising 49% of total exports. The second position in the ranking was taken by Germany ($X), with a 20% share of total exports. It was followed by Spain, with a 12% share.

In the Netherlands, cocoa powder exports shrank by an average annual rate of -2.6% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Germany (+0.8% per year) and Spain (-0.5% per year).

Export Prices by Country

In 2022, the export price in the European Union amounted to $X per ton, rising by 3% against the previous year. Over the period under review, the export price, however, continues to indicate a perceptible setback. The pace of growth was the most pronounced in 2016 when the export price increased by 16%. The level of export peaked at $X per ton in 2012; however, from 2013 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 France ($X per ton) and the Netherlands ($X per ton), while Italy ($X per ton) and Spain ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (-3.3%), while the other leaders experienced a decline in the export price figures.

Cocoa Powder Imports

Imports in the EU

In 2022, after three years of decline, there was growth in purchases abroad of cocoa powder (not sweetened), when their volume increased by 3.8% to X tons. The total import volume increased at an average annual rate of +2.5% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when imports increased by 13%. The volume of import peaked at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, cocoa powder imports expanded slightly to $X in 2022. Over the period under review, imports, however, showed a mild decrease. The pace of growth was the most pronounced in 2016 when imports increased by 15% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the Netherlands (X tons), distantly followed by France (X tons), Italy (X tons), Germany (X tons), Belgium (X tons) and Poland (X tons) were the largest importers of cocoa powder (not sweetened), together making up 77% of total imports. The following importers - Spain (X tons), Hungary (X tons), the Czech Republic (X tons), Sweden (X tons), Greece (X tons) and Romania (X tons) - together made up 15% of total imports.

From 2012 to 2022, the biggest increases were recorded for the Czech Republic (with a CAGR of +7.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest cocoa powder importing markets in the European Union were the Netherlands ($X), Germany ($X) and France ($X), together comprising 47% of total imports. Italy, Belgium, Poland, Spain, Hungary, Sweden, the Czech Republic, Greece and Romania lagged somewhat behind, together accounting for a further 44%.

Spain, with a CAGR of +3.0%, recorded 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 the European Union amounted to $X per ton, approximately mirroring the previous year. In general, the import price, however, recorded a pronounced descent. The most prominent rate of growth was recorded in 2016 when the import price increased by 21%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, 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 Sweden ($X per ton) and Germany ($X per ton), while the Netherlands ($X per ton) and Romania ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (-2.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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