Vietnam: Cocoa Paste Market 2025

Cocoa Paste Market Size in Vietnam

The Vietnamese cocoa paste market rose rapidly to $X in 2021, increasing by 14% against the previous year. In general, the total consumption indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +5.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -11.6% against 2019 indices. Cocoa paste consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Cocoa Paste Production in Vietnam

In value terms, cocoa paste production totaled $X in 2021 estimated in export price. Over the period under review, the total production indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +4.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -10.7% against 2019 indices. The growth pace was the most rapid in 2015 when the production volume increased by 63% against the previous year. Cocoa paste production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Cocoa Paste Exports

Exports from Vietnam

In 2021, overseas shipments of cocoa paste increased by 32% to X tons, rising for the fourth consecutive year after two years of decline. In general, exports enjoyed a significant increase. The most prominent rate of growth was recorded in 2018 when exports increased by 847% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in the near future.

In value terms, cocoa paste exports skyrocketed to $X in 2021. Overall, exports posted significant growth. The growth pace was the most rapid in 2018 with an increase of 786%. Over the period under review, the exports attained the peak figure in 2021 and are likely to continue growth in the near future.

Exports by Country

Japan (X tons), Malaysia (X tons) and Ukraine (X tons) were the main destinations of cocoa paste exports from Vietnam, together comprising 94% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Malaysia (with a CAGR of +115.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for cocoa paste exported from Vietnam were Japan ($X), Malaysia ($X) and Ukraine ($X), together accounting for 93% of total exports.

Malaysia, with a CAGR of +150.3%, 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, increasing by 6.4% against the previous year. Overall, the export price, however, showed a pronounced reduction. The growth pace was the most rapid in 2015 an increase of 31% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Average prices varied noticeably for the major overseas markets. In 2021, amid the top suppliers, the highest price was recorded for prices to Australia ($X per ton) and Japan ($X per ton), while the average price for exports to Malaysia ($X per ton) and Ukraine ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+16.3%).

Cocoa Paste Imports

Imports into Vietnam

Cocoa paste imports into Vietnam declined to X tons in 2021, which is down by -12.1% on 2020. Overall, imports, however, recorded resilient growth. The pace of growth appeared the most rapid in 2015 when imports increased by 83%. Over the period under review, imports reached the peak figure at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, cocoa paste imports contracted to $X in 2021. Over the period under review, imports, however, enjoyed a buoyant increase. The pace of growth appeared the most rapid in 2015 when imports increased by 76%. Over the period under review, imports attained the maximum at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

Singapore (X tons), Nigeria (X tons) and Malaysia (X tons) were the main suppliers of cocoa paste imports to Vietnam, with a combined 57% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Singapore (with a CAGR of +54.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest cocoa paste suppliers to Vietnam were Singapore ($X), Malaysia ($X) and Indonesia ($X), with a combined 58% share of total imports.

Singapore, with a CAGR of +54.9%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average cocoa paste import price amounted to $X per ton, increasing by 5.6% against the previous year. Overall, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2020 an increase of 12%. The import price peaked in 2021 and is likely to see gradual growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+3.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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