Vietnam: Cocoa Butter Market 2025

Cocoa Butter Market Size in Vietnam

The Vietnamese cocoa butter market fell to $X in 2022, with a decrease of -3.8% against the previous year. Overall, the total consumption indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -10.5% against 2019 indices. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Cocoa Butter Production in Vietnam

In value terms, cocoa butter production dropped to $X in 2022 estimated in export price. In general, the total production indicated slight growth from 2012 to 2022: its value increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -10.4% against 2019 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by 46%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Cocoa Butter Exports

Exports from Vietnam

In 2022, the amount of cocoa butter exported from Vietnam dropped rapidly to X tons, declining by -33% against 2021. Over the period under review, exports, however, saw a strong expansion. The most prominent rate of growth was recorded in 2014 with an increase of 2,555%. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, cocoa butter exports dropped notably to $X in 2022. Overall, exports, however, continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2014 when exports increased by 2,353% against the previous year. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

Switzerland (X tons), Belgium (X tons) and Canada (X kg) were the main destinations of cocoa butter exports from Vietnam, with a combined 99% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Canada (with a CAGR of +30.8%), while the other leaders experienced more modest paces of growth.

In value terms, Switzerland ($X), Belgium ($X) and Canada ($X) were the largest markets for cocoa butter exported from Vietnam worldwide, together comprising 99% of total exports.

In terms of the main countries of destination, Canada, with a CAGR of +19.9%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2022, the average cocoa butter export price amounted to $X per ton, growing by 3.6% against the previous year. In general, the export price, however, showed a abrupt descent. The most prominent rate of growth was recorded in 2015 when the average export price increased by 39%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the average price for exports to Switzerland ($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 (-4.6%).

Cocoa Butter Imports

Imports into Vietnam

Cocoa butter imports into Vietnam contracted modestly to X tons in 2022, remaining constant against the previous year's figure. In general, imports, however, saw buoyant growth. The pace of growth was the most pronounced in 2015 with an increase of 661%. As a result, imports reached the peak of X tons. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, cocoa butter imports expanded sharply to $X in 2022. Over the period under review, imports, however, recorded slight growth. The most prominent rate of growth was recorded in 2015 with an increase of 425% against the previous year. As a result, imports attained the peak of $X. From 2016 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Malaysia (X tons) constituted the largest cocoa butter supplier to Vietnam, accounting for a 68% share of total imports. Moreover, cocoa butter imports from Malaysia exceeded the figures recorded by the second-largest supplier, Belgium (X tons), fivefold. Indonesia (X tons) ranked third in terms of total imports with an 8.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Malaysia stood at +9.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+31.8% per year) and Indonesia (+2.8% per year).

In value terms, Malaysia ($X) constituted the largest supplier of cocoa butter to Vietnam, comprising 72% of total imports. The second position in the ranking was taken by Belgium ($X), with a 14% share of total imports. It was followed by Singapore, with a 5.6% share.

From 2012 to 2022, the average annual growth rate of value from Malaysia stood at +4.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+27.1% per year) and Singapore (+10.9% per year).

Import Prices by Country

In 2022, the average cocoa butter import price amounted to $X per ton, with an increase of 7.7% against the previous year. Overall, the import price, however, saw a abrupt downturn. The pace of growth was the most pronounced in 2019 when the average import price increased by 49%. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (-0.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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