Europe: Cocoa Paste Market 2024

Cocoa Paste Market Size in Europe

The Europe cocoa paste market declined to $X in 2021, which is down by -6.1% against the previous year. Over the period under review, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Cocoa Paste Production in Europe

In value terms, cocoa paste production contracted to $X in 2021 estimated in export price. In general, production, however, showed a slight decrease. The most prominent rate of growth was recorded in 2020 when the production volume increased by 9.9%. The level of production peaked at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

Cocoa Paste Exports

Exports in Europe

For the sixth consecutive year, Europe recorded growth in overseas shipments of cocoa paste, which increased by 17% to X tons in 2021. The total export volume increased at an average annual rate of +4.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, cocoa paste exports soared to $X in 2021. The total export value increased at an average annual rate of +4.2% 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) was the key exporter of cocoa paste, committing 51% of total exports. Germany (X tons) ranks second in terms of the total exports with a 19% share, followed by France (8.7%). The following exporters - Switzerland (X tons), Belgium (X tons), Poland (X tons), Bulgaria (X tons), the UK (X tons) and Ukraine (X tons) - together made up 17% 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%), the UK (+13.2%), Switzerland (+8.8%), Poland (+4.1%), Belgium (+2.6%), Germany (+2.3%) and Ukraine (+1.6%) displayed positive paces of growth. Moreover, Bulgaria emerged as the fastest-growing exporter exported in Europe, with a CAGR of +104.1% from 2012-2021. France experienced a relatively flat trend pattern. The Netherlands (+7.7 p.p.) and Bulgaria (+2.7 p.p.) significantly strengthened its position in terms of the total exports, while France and Germany saw its share reduced by -3.7% and -3.9% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Netherlands ($X) remains the largest cocoa paste supplier in Europe, comprising 47% of total exports. The second position in the ranking was held by Germany ($X), with a 19% share of total exports. It was followed by France, with a 9.6% share.

From 2012 to 2021, the average annual growth rate 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 Europe stood at $X per ton in 2021, standing approx. at the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the export price increased by 13% against the previous year. The level of export peaked at $X per ton in 2016; however, from 2017 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in Switzerland ($X per ton) and Belgium ($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 Ukraine (+0.8%), while the other leaders experienced mixed trends in the export price figures.

Cocoa Paste Imports

Imports in Europe

In 2021, after four years of growth, there was decline in overseas purchases of cocoa paste, when their volume decreased by -3.2% to X tons. The total import volume increased at an average annual rate of +2.8% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The pace of growth appeared the most rapid in 2017 when imports increased by 14% against the previous year. The volume of import peaked at X tons in 2020, and then reduced in the following year.

In value terms, cocoa paste imports stood at $X in 2021. The total import value increased at an average annual rate of +2.6% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2014 when imports increased by 12%. The level of import peaked in 2021 and is expected to retain growth in the immediate term.

Imports by Country

The purchases of the five major importers of cocoa paste, namely the Netherlands, Spain, Germany, Belgium and France, represented more than two-thirds of total import. It was distantly followed by Poland (X tons), Russia (X tons) and Italy (X tons), together constituting an 18% 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) were the countries with the highest levels of imports in 2021, together comprising 46% of total imports. France, Spain, Russia, Poland and Italy lagged somewhat behind, together comprising a further 39%.

Italy, with a CAGR of +11.2%, saw the highest rates of growth with regard to 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 2021, the import price in Europe amounted to $X per ton, picking up by 10% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. Over the period under review, import prices reached the maximum at $X per ton in 2016; however, from 2017 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, 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