Japan: Cocoa Butter Market 2024

Cocoa Butter Market Size in Japan

In 2022, the Japanese cocoa butter market decreased by -9% to $X, falling for the third year in a row after two years of growth. In general, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market remained at a somewhat lower figure.

Cocoa Butter Production in Japan

In value terms, cocoa butter production contracted to $X in 2022 estimated in export price. Over the period under review, production, however, posted resilient growth. The pace of growth appeared the most rapid in 2014 with an increase of 160%. Cocoa butter production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Cocoa Butter Exports

Exports from Japan

In 2022, approx. X tons of cocoa butter were exported from Japan; reducing by -2.1% on the previous year. Overall, exports showed a abrupt slump. The pace of growth appeared the most rapid in 2020 when exports increased by 185% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, cocoa butter exports reduced rapidly to $X in 2022. In general, exports continue to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2019 with an increase of 107% against the previous year. Over the period under review, the exports reached the maximum at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Indonesia (X tons) was the main destination for cocoa butter exports from Japan, accounting for a 92% share of total exports. Moreover, cocoa butter exports to Indonesia exceeded the volume sent to the second major destination, the UK (X kg), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Indonesia amounted to +4.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+63.0% per year) and Hong Kong SAR (0.0% per year).

In value terms, Indonesia ($X) emerged as the key foreign market for cocoa butter exports from Japan, comprising 81% of total exports. The second position in the ranking was held by the UK ($X), with a 14% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Indonesia totaled -1.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+59.7% per year) and Hong Kong SAR (0.0% per year).

Export Prices by Country

The average cocoa butter export price stood at $X per ton in 2022, falling by -48% against the previous year. Overall, the export price, however, posted a buoyant expansion. The pace of growth appeared the most rapid in 2014 an increase of 171% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2019; however, from 2020 to 2022, 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 the UK ($X per ton), while the average price for exports to Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+13.6%), while the prices for the other major destinations experienced a decline.

Cocoa Butter Imports

Imports into Japan

Cocoa butter imports into Japan shrank to X tons in 2022, almost unchanged from the previous year's figure. Overall, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when imports increased by 14% against the previous year. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, cocoa butter imports contracted to $X in 2022. In general, total imports indicated a slight increase from 2012 to 2022: its value increased at an average annual rate of +1.6% 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 -32.2% against 2019 indices. The most prominent rate of growth was recorded in 2014 when imports increased by 89% 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, Malaysia (X tons) constituted the largest cocoa butter supplier to Japan, accounting for a 63% share of total imports. Moreover, cocoa butter imports from Malaysia exceeded the figures recorded by the second-largest supplier, Indonesia (X tons), fourfold. The third position in this ranking was held by Singapore (X tons), with a 9.2% share.

From 2012 to 2022, the average annual growth rate of volume from Malaysia was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+1.8% per year) and Singapore (+1.1% per year).

In value terms, Malaysia ($X) constituted the largest supplier of cocoa butter to Japan, comprising 62% of total imports. The second position in the ranking was taken by Indonesia ($X), with a 17% share of total imports. It was followed by Singapore, with an 8.9% share.

From 2012 to 2022, the average annual growth rate of value from Malaysia amounted to +4.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+5.7% per year) and Singapore (+1.5% per year).

Import Prices by Country

In 2022, the average cocoa butter import price amounted to $X per ton, dropping by -14.5% against the previous year. In general, import price indicated a noticeable expansion from 2012 to 2022: its price increased at an average annual rate of +2.5% 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 -27.0% against 2020 indices. The most prominent rate of growth was recorded in 2014 an increase of 67%. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+24.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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