India: Cocoa Paste Market 2025

Cocoa Paste Market Size in India

After three years of growth, the Indian cocoa paste market decreased by -2.9% to $X in 2021. The market value increased at an average annual rate of +2.6% from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2020, and then fell in the following year.

Cocoa Paste Production in India

In value terms, cocoa paste production contracted slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.4% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when the production volume increased by 13%. Over the period under review, production attained the maximum level at $X in 2020, and then contracted modestly in the following year.

Cocoa Paste Exports

Exports from India

In 2021, shipments abroad of cocoa paste increased by 53% to X tons, rising for the fourth consecutive year after three years of decline. Over the period under review, exports showed significant growth. The pace of growth appeared the most rapid in 2014 with an increase of 5,432% against the previous year. As a result, the exports attained the peak of X tons. From 2015 to 2021, the growth of the exports remained at a lower figure.

In value terms, cocoa paste exports surged to $X in 2021. In general, exports recorded significant growth. The most prominent rate of growth was recorded in 2014 when exports increased by 10,330% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Mozambique (X tons) was the main destination for cocoa paste exports from India, accounting for a 34% share of total exports. Moreover, cocoa paste exports to Mozambique exceeded the volume sent to the second major destination, Australia (X tons), twofold. Germany (X tons) ranked third in terms of total exports with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Mozambique totaled +132.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+78.7% per year) and Germany (+44.9% per year).

In value terms, Germany ($X), Kenya ($X) and Malaysia ($X) appeared to be the largest markets for cocoa paste exported from India worldwide, together comprising 67% of total exports.

Kenya, with a CAGR of +267.1%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average cocoa paste export price stood at $X per ton in 2021, which is down by -15.7% against the previous year. Overall, the export price, however, enjoyed a resilient expansion. The pace of growth was the most pronounced in 2014 an increase of 89%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2017; however, from 2018 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Mozambique ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+14.7%), while the prices for the other major destinations experienced more modest paces of growth.

Cocoa Paste Imports

Imports into India

In 2021, after three years of decline, there was significant growth in supplies from abroad of cocoa paste, when their volume increased by 91% to X tons. In general, imports, however, recorded a perceptible reduction. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, cocoa paste imports soared to $X in 2021. Over the period under review, imports, however, showed a perceptible decline. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Ghana (X tons) constituted the largest cocoa paste supplier to India, accounting for a 66% share of total imports. Moreover, cocoa paste imports from Ghana exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), sixfold. The third position in this ranking was taken by Singapore (X tons), with a 5.8% share.

From 2012 to 2021, the average annual growth rate of volume from Ghana was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-3.5% per year) and Singapore (+13.0% per year).

In value terms, Ghana ($X) constituted the largest supplier of cocoa paste to India, comprising 62% of total imports. The second position in the ranking was taken by Malaysia ($X), with a 13% share of total imports. It was followed by Italy, with an 8.6% share.

From 2012 to 2021, the average annual growth rate of value from Ghana stood at -1.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-4.3% per year) and Italy (-0.1% per year).

Import Prices by Country

In 2021, the average cocoa paste import price amounted to $X per ton, remaining constant against the previous year. Overall, the import price showed a mild downturn. The growth pace was the most rapid in 2014 an increase of 9.5%. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (-0.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :