Report Update Nov 1, 2024

Northern America - Cocoa Beans - Market Analysis, Forecast, Size, Trends and Insights

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Northern America: Cocoa Bean Market 2024

Cocoa Bean Market Size in Northern America

In 2022, after two years of growth, there was significant decline in the North American cocoa bean market, when its value decreased by -22% to $X. Over the period under review, consumption, however, showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X, and then shrank sharply in the following year.

Cocoa Bean Production in Northern America

In value terms, cocoa bean production dropped dramatically to $X in 2022 estimated in export price. In general, production continues to indicate a abrupt contraction. The growth pace was the most rapid in 2016 with an increase of 2,150% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Saint Pierre and Miquelon (X kg) remains the largest cocoa bean producing country in Northern America, comprising approx. 100% of total volume.

In Saint Pierre and Miquelon, cocoa bean production remained relatively stable over the period from 2012-2022.

Cocoa Bean Exports

Exports in Northern America

For the third year in a row, Northern America recorded decline in overseas shipments of cocoa beans, which decreased by -22% to X tons in 2022. Over the period under review, exports recorded a deep downturn. The growth pace was the most rapid in 2014 when exports increased by 205%. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, cocoa bean exports contracted significantly to $X in 2022. Overall, exports continue to indicate a abrupt contraction. The growth pace was the most rapid in 2014 with an increase of 266% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

In 2022, the United States (X tons) represented the major exporter of cocoa beans, comprising 65% of total exports. It was distantly followed by Canada (X tons), committing a 35% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Canada (with a CAGR of +21.0%).

In value terms, the United States ($X) remains the largest cocoa bean supplier in Northern America, comprising 72% of total exports. The second position in the ranking was held by Canada ($X), with a 28% share of total exports.

In the United States, cocoa bean exports plunged by an average annual rate of -9.0% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Northern America amounted to $X per ton, declining by -5.2% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the export price increased by 37% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while Canada amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+1.9%).

Cocoa Bean Imports

Imports in Northern America

In 2022, after two years of growth, there was significant decline in overseas purchases of cocoa beans, when their volume decreased by -21.5% to X tons. Over the period under review, imports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by 26% against the previous year. As a result, imports reached the peak of X tons, and then dropped rapidly in the following year.

In value terms, cocoa bean imports fell significantly to $X in 2022. Overall, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 27%. Over the period under review, imports reached the maximum at $X in 2015; however, from 2016 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the United States (X tons) represented the major importer of cocoa beans, creating 72% of total imports. It was distantly followed by Canada (X tons), achieving a 28% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to cocoa bean imports into the United States stood at -1.8%. At the same time, Canada (+6.9%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing importer imported in Northern America, with a CAGR of +6.9% from 2012-2022. While the share of Canada (+14 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of the United States (-13.5 p.p.) displayed negative dynamics.

In value terms, the United States ($X) constitutes the largest market for imported cocoa beans in Northern America, comprising 73% of total imports. The second position in the ranking was taken by Canada ($X), with a 27% share of total imports.

In the United States, cocoa bean imports shrank by an average annual rate of -1.4% over the period from 2012-2022.

Import Prices by Country

The import price in Northern America stood at $X per ton in 2022, approximately equating the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 an increase of 23% against the previous year. The level of import peaked at $X per ton in 2016; however, from 2017 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while Canada stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+1.1%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for cocoa beans in Northern America?

The United States constituted the country with the largest volume of cocoa bean consumption, comprising approx. 81% of total volume. Moreover, cocoa bean consumption in the United States exceeded the figures recorded by the second-largest consumer, Canada, fourfold.

What are the leading exporters of cocoa beans in Northern America?

In value terms, the United States remains the largest cocoa bean supplier in Northern America, comprising 97% of total exports. The second position in the ranking was occupied by Canada, with a 3.1% share of total exports.

What are the leading importers of cocoa beans in Northern America?

In value terms, the United States constitutes the largest market for imported cocoa beans in Northern America, comprising 82% of total imports. The second position in the ranking was occupied by Canada, with an 18% share of total imports.

What is the average export price for cocoa beans in Northern America?

In 2021, the cocoa bean export price in Northern America amounted to $2,894 per ton, growing by 2% against the previous year.

What is the average import price for cocoa beans in Northern America?

The cocoa bean import price in Northern America stood at $2,654 per ton in 2021, almost unchanged from the previous year.

This report provides an in-depth analysis of the cocoa bean market in Northern America. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 661 - Cocoa beans

Country coverage:

Bermuda
Canada
Greenland
Saint Pierre and Miquelon
United States

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Production in Northern America, split by region and country
Trade (exports and imports) in Northern America
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. CONSUMPTION BY COUNTRY
3. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. COUNTRIES WITH TOP YIELDS
4. TOP EXPORTING COUNTRIES
5. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
2. PRODUCTION BY COUNTRY
3. HARVESTED AREA AND YIELD BY COUNTRY
8. IMPORTS
The Largest Importers on The Market and How They Succeed
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Exporters on The Market and How They Succeed
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
11. COUNTRY PROFILES

The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO
- Bermuda
- Canada
- Greenland
- Saint Pierre and Miquelon
- United States
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption, By Country, 2018–2023
5. Production, In Physical Terms, By Country, 2012–2023
6. Harvested Area, By Country, 2012-2023
7. Yield, By Country, 2012-2023
8. Imports, In Physical Terms, By Country, 2012–2023
9. Imports, In Value Terms, By Country, 2012–2023
10. Import Prices, By Country Of Destination, 2012–2023
11. Exports, In Physical Terms, By Country, 2012–2023
12. Exports, In Value Terms, By Country, 2012–2023
13. Export Prices, By Country Of Origin, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Consumption, By Country, 2023
4. Market Volume Forecast to 2030
5. Market Value Forecast to 2030
6. Products: Market Size And Growth, By Type
7. Products: Average Per Capita Consumption, By Type
8. Products: Exports And Growth, By Type
9. Products: Export Prices And Growth, By Type
10. Production Volume And Growth
11. Yield And Growth
12. Exports And Growth
13. Export Prices And Growth
14. Market Size And Growth
15. Per Capita Consumption
16. Imports And Growth
17. Import Prices
18. Production, In Physical Terms, 2012–2023
19. Production, In Value Terms, 2012–2023
20. Area Harvested, 2012–2023
21. Yield, 2012–2023
22. Production, By Country, 2023
23. Production, In Physical Terms, By Country, 2012–2023
24. Harvested Area, By Country, 2023
25. Harvested Area, By Country, 2012-2023
26. Yield, By Country, 2012-2023
27. Imports, In Physical Terms, 2012–2023
28. Imports, In Value Terms, 2012–2023
29. Imports, In Physical Terms, By Country, 2023
30. Imports, In Physical Terms, By Country, 2012–2023
31. Imports, In Value Terms, By Country, 2012–2023
32. Import Prices, By Country, 2012–2023
33. Exports, In Physical Terms, 2012–2023
34. Exports, In Value Terms, 2012–2023
35. Exports, In Physical Terms, By Country, 2023
36. Exports, In Physical Terms, By Country, 2012–2023
37. Exports, In Value Terms, By Country, 2012–2023
38. Export Prices, 2012–2023