United Kingdom: Cocoa Bean Market 2025

Cocoa Bean Market Size in the UK

The UK cocoa bean market fell dramatically to $X in 2022, reducing by -24.3% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption continues to indicate a pronounced descent. Over the period under review, the market attained the peak level at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Cocoa Bean Exports

Exports from the UK

Cocoa bean exports from the UK fell to X tons in 2022, with a decrease of -3.7% against the previous year. In general, exports faced a abrupt shrinkage. The pace of growth appeared the most rapid in 2021 when exports increased by 50% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, cocoa bean exports declined modestly to $X in 2022. Over the period under review, exports showed a abrupt curtailment. The most prominent rate of growth was recorded in 2018 with an increase of 43% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Indonesia (X tons) was the main destination for cocoa bean exports from the UK, with a 52% share of total exports. Moreover, cocoa bean exports to Indonesia exceeded the volume sent to the second major destination, the Netherlands (X tons), fourfold. The third position in this ranking was held by Ireland (X tons), with a 9.4% share.

From 2012 to 2022, the average annual growth rate of volume to Indonesia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (-9.5% per year) and Ireland (+16.8% per year).

In value terms, Indonesia ($X), Ireland ($X) and Hong Kong SAR ($X) were the largest markets for cocoa bean exported from the UK worldwide, together comprising 67% of total exports. The Netherlands, South Africa, Australia, Estonia, the United States and Belgium lagged somewhat behind, together comprising a further 30%.

South Africa, with a CAGR of +65.9%, recorded the highest growth rate of 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 bean export price stood at $X per ton in 2022, growing by 2.3% against the previous year. Overall, the export price posted a resilient increase. The pace of growth appeared the most rapid in 2018 when the average export price increased by 80%. As a result, the export price reached the peak level of $X per ton. From 2019 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to Indonesia ($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 Belgium (+20.1%), while the prices for the other major destinations experienced more modest paces of growth.

Cocoa Bean Imports

Imports into the UK

In 2022, the amount of cocoa beans imported into the UK dropped to X tons, waning by -14.5% on the previous year's figure. Overall, imports saw a pronounced shrinkage. The pace of growth was the most pronounced in 2017 with an increase of 146%. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, cocoa bean imports dropped notably to $X in 2022. Over the period under review, imports saw a noticeable decline. The pace of growth appeared the most rapid in 2017 with an increase of 77%. Over the period under review, imports hit record highs at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Cote d'Ivoire (X tons) constituted the largest supplier of cocoa bean to the UK, accounting for a 87% share of total imports. Moreover, cocoa bean imports from Cote d'Ivoire exceeded the figures recorded by the second-largest supplier, Ghana (X tons), eightfold.

From 2012 to 2022, the average annual growth rate of volume from Cote d'Ivoire amounted to +5.7%.

In value terms, Cote d'Ivoire ($X) constituted the largest supplier of cocoa beans to the UK, comprising 87% of total imports. The second position in the ranking was taken by Ghana ($X), with a 10% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Cote d'Ivoire totaled +5.9%.

Import Prices by Country

In 2022, the average cocoa bean import price amounted to $X per ton, shrinking by -14.8% against the previous year. Over the period under review, the import price showed a slight decline. The most prominent rate of growth was recorded in 2016 an increase of 16%. As a result, import price reached the peak level of $X per ton. From 2017 to 2022, the average import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Cote d'Ivoire ($X per ton), while the price for Ghana amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+0.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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