Global Cocoa Butter Market 2024

Cocoa Butter Market Size

The global cocoa butter market totaled $X in 2022, growing by 2.2% against the previous year. In general, consumption continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the market value increased by 8.9%. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the global market failed to regain momentum.

Cocoa Butter Production

In value terms, cocoa butter production rose to $X in 2022 estimated in export price. In general, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the production volume increased by 9.9% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, global production growth remained at a somewhat lower figure.

Cocoa Butter Exports

Exports

In 2022, global cocoa butter exports reduced slightly to X tons, shrinking by -1.6% compared with the previous year. The total export volume increased at an average annual rate of +3.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2019 when exports increased by 14% against the previous year. The global exports peaked at X tons in 2021, and then contracted in the following year.

In value terms, cocoa butter exports fell to $X in 2022. Overall, total exports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +7.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -10.7% against 2020 indices. The pace of growth appeared the most rapid in 2014 with an increase of 52%. The global exports peaked at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, the Netherlands (X tons), distantly followed by Indonesia (X tons), Cote d'Ivoire (X tons), Ghana (X tons), Malaysia (X tons), Germany (X tons) and France (X tons) were the key exporters of cocoa butter, together comprising 81% of total exports.

From 2012 to 2022, the biggest increases were recorded for Ghana (with a CAGR of +21.8%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Cote d'Ivoire ($X) and Ghana ($X) constituted the countries with the highest levels of exports in 2022, with a combined 46% share of global exports.

Ghana, with a CAGR of +26.9%, recorded the highest rates of growth with regard to 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

The average cocoa butter export price stood at $X per ton in 2022, with a decrease of -7% against the previous year. Overall, export price indicated a pronounced expansion from 2012 to 2022: its price increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cocoa butter export price decreased by -15.5% against 2020 indices. The growth pace was the most rapid in 2014 when the average export price increased by 48% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Ghana ($X per ton) and Cote d'Ivoire ($X per ton), while Indonesia ($X per ton) and Germany ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+5.6%), while the other global leaders experienced more modest paces of growth.

Cocoa Butter Imports

Imports

In 2022, global cocoa butter imports expanded remarkably to X tons, surging by 6.5% on the previous year's figure. The total import volume increased at an average annual rate of +3.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 with an increase of 11% against the previous year. Global imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, cocoa butter imports reduced to $X in 2022. In general, total imports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +7.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 64% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of global imports remained at a somewhat lower figure.

Imports by Country

In 2022, Germany (X tons), the United States (X tons), the Netherlands (X tons), Belgium (X tons) and France (X tons) represented the major importer of cocoa butter in the world, comprising 53% of total import. The UK (X tons) held the next position in the ranking, followed by Poland (X tons) and Italy (X tons). All these countries together held near 15% share of total imports. Russia (X tons), Canada (X tons), Switzerland (X tons), Australia (X tons) and Japan (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Poland (with a CAGR of +8.7%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, Germany ($X), the United States ($X) and Belgium ($X) constituted the countries with the highest levels of imports in 2022, with a combined 35% share of global imports. The Netherlands, France, Poland, the UK, Italy, Russia, Canada, Switzerland, Australia and Japan lagged somewhat behind, together accounting for a further 45%.

Poland, with a CAGR of +12.0%, saw the highest growth rate of the value of imports, in terms of 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 butter import price amounted to $X per ton, declining by -13.1% against the previous year. Overall, import price indicated a noticeable expansion from 2012 to 2022: its price increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cocoa butter import price decreased by -20.7% against 2020 indices. The most prominent rate of growth was recorded in 2014 when the average import price increased by 58%. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+5.3%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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