Europe: Cocoa Butter Market 2024

Cocoa Butter Market Size in Europe

In 2022, the Europe cocoa butter market decreased by -0.1% to $X for the first time since 2018, thus ending a three-year rising trend. The market value increased at an average annual rate of +1.2% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2021, and then shrank slightly in the following year.

Cocoa Butter Production in Europe

In value terms, cocoa butter production expanded sharply to $X in 2022 estimated in export price. In general, production, however, showed a relatively flat trend pattern. Over the period under review, production attained the peak level at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Cocoa Butter Exports

Exports in Europe

In 2022, cocoa butter exports in Europe rose to X tons, surging by 1.7% against 2021 figures. The total export volume increased at an average annual rate of +2.2% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 11% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are likely to continue growth in the immediate term.

In value terms, cocoa butter exports fell to $X in 2022. Total exports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +5.2% 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 -20.1% against 2014 indices. The most prominent rate of growth was recorded in 2014 when exports increased by 57%. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

In 2022, the Netherlands (X tons) represented the key exporter of cocoa butter, mixing up 53% of total exports. It was distantly followed by Germany (X tons) and France (X tons), together committing a 38% share of total exports. The following exporters - Estonia (X tons) and Spain (X tons) - each amounted to a 4.1% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to cocoa butter exports from the Netherlands stood at +1.7%. At the same time, Germany (+7.9%) and Estonia (+7.4%) displayed positive paces of growth. Moreover, Germany emerged as the fastest-growing exporter exported in Europe, with a CAGR of +7.9% from 2012-2022. France and Spain experienced a relatively flat trend pattern. While the share of Germany (+8.6 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of the Netherlands (-3 p.p.) and France (-3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Netherlands ($X) remains the largest cocoa butter supplier in Europe, comprising 53% of total exports. The second position in the ranking was held by Germany ($X), with a 20% share of total exports. It was followed by France, with an 18% share.

In the Netherlands, cocoa butter exports expanded at an average annual rate of +4.8% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Germany (+11.2% per year) and France (+3.1% per year).

Export Prices by Country

In 2022, the export price in Europe amounted to $X per ton, declining by -15.7% against the previous year. Export price indicated a pronounced increase from 2012 to 2022: its price increased at an average annual rate of +2.9% 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 -21.6% against 2020 indices. The growth pace was the most rapid in 2014 an increase of 63%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably 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 Estonia ($X per ton) and Spain ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+3.1%), while the other leaders experienced more modest paces of growth.

Cocoa Butter Imports

Imports in Europe

In 2022, the amount of cocoa butter imported in Europe amounted to X tons, growing by 4.4% compared with the previous year's figure. The total import volume increased at an average annual rate of +3.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 with an increase of 10% 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 fell to $X in 2022. Total imports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +6.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -10.7% against 2020 indices. The pace of growth appeared the most rapid in 2014 when imports increased by 59% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Germany (X tons), distantly followed by the Netherlands (X tons), Belgium (X tons), France (X tons), the UK (X tons), Poland (X tons), Italy (X tons) and Russia (X tons) represented the largest importers of cocoa butter, together creating 85% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Poland (with a CAGR of +8.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest cocoa butter importing markets in Europe were Germany ($X), Belgium ($X) and the Netherlands ($X), with a combined 46% share of total imports. France, Poland, the UK, Italy and Russia lagged somewhat behind, together accounting for a further 38%.

Poland, with a CAGR of +12.0%, 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 Europe amounted to $X per ton, with a decrease of -14.3% against the previous year. Import price indicated a pronounced increase from 2012 to 2022: its price increased at an average annual rate of +3.1% 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 -21.4% against 2020 indices. The pace of growth appeared the most rapid in 2014 when the import price increased by 58%. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the 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 Russia ($X per ton) and Italy ($X per ton), while the Netherlands ($X per ton) and France ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+5.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform