Global Cocoa Bean Market 2025

Cocoa Bean Market Size

The global cocoa bean market dropped to $X in 2022, declining by -7.8% against the previous year. Overall, consumption saw a slight expansion. Over the period under review, the global market reached the peak level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Cocoa Bean Production

In value terms, cocoa bean production expanded to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.6% over the period from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 when the production volume increased by 21% against the previous year. Over the period under review, global production hit record highs at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

The countries with the highest volumes of production in 2022 were Nigeria (X tons), Cote d'Ivoire (X tons) and Ghana (X tons), together accounting for 68% of global production.

From 2012 to 2022, the biggest increases were recorded for Nigeria (with a CAGR of +6.5%), while production for the other global leaders experienced more modest paces of growth.

The global average cocoa bean yield totaled X kg per ha in 2022, growing by 2.1% against 2021. The yield figure increased at an average annual rate of +2.2% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 16%. The global yield peaked in 2022 and is expected to retain growth in the immediate term. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The global cocoa bean harvested area expanded slightly to X ha in 2022, with an increase of 4.3% against the previous year's figure. The harvested area increased at an average annual rate of +1.6% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 when the harvested area increased by 7.7%. Over the period under review, the harvested area dedicated to cocoa bean production reached the maximum at X ha in 2020; however, from 2021 to 2022, the harvested area stood at a somewhat lower figure.

Cocoa Bean Exports

Exports

After five years of growth, shipments abroad of cocoa beans decreased by -11.7% to X tons in 2022. Overall, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by 22% against the previous year. As a result, the exports attained the peak of X tons, and then declined in the following year.

In value terms, cocoa bean exports fell to $X in 2022. In general, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 22% against the previous year. As a result, the exports attained the peak of $X, and then shrank in the following year.

Exports by Country

Cote d'Ivoire was the largest exporter of cocoa beans in the world, with the volume of exports recording X tons, which was approx. 37% of total exports in 2022. Ghana (X tons) ranks second in terms of the total exports with an 18% share, followed by Cameroon (10%), Nigeria (7.6%) and Ecuador (7.5%). The Netherlands (X tons) and Malaysia (X tons) followed a long way behind the leaders.

Exports from Cote d'Ivoire increased at an average annual rate of +4.9% from 2012 to 2022. At the same time, Cameroon (+9.9%), Ecuador (+8.3%), Malaysia (+7.7%) and Ghana (+3.1%) displayed positive paces of growth. Moreover, Cameroon emerged as the fastest-growing exporter exported in the world, with a CAGR of +9.9% from 2012-2022. The Netherlands experienced a relatively flat trend pattern. By contrast, Nigeria (-13.1%) illustrated a downward trend over the same period. Cote d'Ivoire (+13 p.p.), Cameroon (+6 p.p.), Ghana (+4 p.p.) and Ecuador (+3.9 p.p.) significantly strengthened its position in terms of the global exports, while Nigeria saw its share reduced by -25.3% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Cote d'Ivoire ($X), Ghana ($X) and Cameroon ($X) were the countries with the highest levels of exports in 2022, together accounting for 68% of global exports.

Cameroon, with a CAGR of +10.8%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average cocoa bean export price amounted to $X per ton, with a decrease of -2.5% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average export price increased by 19% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Ghana ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cameroon (+0.8%), while the other global leaders experienced more modest paces of growth.

Cocoa Bean Imports

Imports

In 2022, after two years of growth, there was significant decline in supplies from abroad of cocoa beans, when their volume decreased by -16.1% to X tons. In general, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 17% against the previous year. Global imports peaked at X tons in 2021, and then dropped notably in the following year.

In value terms, cocoa bean imports shrank rapidly to $X in 2022. Overall, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of 19%. Global imports peaked at $X in 2021, and then reduced rapidly in the following year.

Imports by Country

In 2022, the Netherlands (X tons), distantly followed by Malaysia (X tons), the United States (X tons), Indonesia (X tons), Germany (X tons) and France (X tons) represented the key importers of cocoa beans, together committing 67% of total imports. Belgium (X tons), Canada (X tons), Italy (X tons), Singapore (X tons), Spain (X tons), Turkey (X tons) and Russia (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of +30.0%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Malaysia ($X) and the United States ($X) appeared to be the countries with the highest levels of imports in 2022, together comprising 42% of global imports. Germany, Indonesia, France, Belgium, Canada, Italy, Singapore, Spain, Russia and Turkey lagged somewhat behind, together accounting for a further 45%.

Indonesia, with a CAGR of +27.8%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average cocoa bean import price amounted to $X per ton, reducing by -9.7% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the average import price increased by 19%. Over the period under review, average import prices hit record highs at $X per ton in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Russia ($X per ton) and Italy ($X per ton), while Indonesia ($X per ton) and the Netherlands ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+1.1%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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