Market research

Cocoa beans market in Asia

Release date: Mar 29, 2026

Submission: 15 minutes after payment

Research period: 2017-2025

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File format: docx, xlsx

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"Asia" region includes following countries:

China

Hong Kong

Japan

North Korea

South Korea

Macao

Mongolia

Afghanistan

Bangladesh

Bhutan

Sri Lanka

India

Iran

Maldives

Nepal

Pakistan

Brunei Darussalam

Myanmar

Cambodia

Indonesia

Laos

Malaysia

the Philippines

Timor-Leste

Singapore

Vietnam

Thailand

Kazakhstan

Kyrgyzstan

Tajikistan

Turkmenistan

Uzbekistan

Azerbaijan

Armenia

Bahrain

Cyprus

Georgia

Palestine

Iraq

Israel

Jordan

Kuwait

Lebanon

Oman

Qatar

Saudi Arabia

Syria

Turkey

the United Arab Emirates

Yemen

Earlier Report Observations

From 2018 to 2020, the cocoa bean market in Asia was characterized by a persistent gap between demand and supply. In India, a key consumer, cocoa demand grew at 15% annually, but domestic production did not increase accordingly. This sustained reliance on imports helped maintain the overall market volume, which reached 1 642 thousand tonnes in 2019 before contracting to 1 522 thousand tonnes in 2020.

The market showed volatility in the following years, recovering to 1 622 thousand tonnes in 2021 before dipping again to 1 537 thousand tonnes in 2022. Domestic production remained constrained, while import levels fluctuated to balance the market.

A significant shift occurred in 2023, as the market expanded to 1 679 thousand tonnes. This growth was underpinned by the expansion of India's chocolate market, which reached US$ 2.6 billion, driving cocoa bean consumption. Concurrently, a severe global supply shortage emerged due to climate change and crop diseases, causing cocoa prices to surge. By 2024, this deficit intensified, pushing prices to record highs and impacting chocolate manufacturers who raised prices and reformulated products.

Table of content

1. Disclaimer
2. Terms of use of the report
3. Product codes in the statistical classifications used in the report
4. Key Market Indicators and Trends
1. 4.1. Key Market Indicators
  1. 4.1.1. In kind
    1. 4.1.1.1. Production, 2018-2023
    2. 4.1.1.2. Imports, 2018-2024
    3. 4.1.1.3. Exports, 2018-2024
    4. 4.1.1.4. Market size, 2018-2023
2. 4.2. Market Trends and Factors
5. Production
1. 5.1. Production in Asia
  1. 5.1.1. Annual dynamics of production in Asia in kind, 2018-2023, K t
2. 5.2. Global production by Country, 2018-2023
  1. 5.2.1. Annual dynamics of production by macroregions in kind, 2018-2023, K t
  2. 5.2.2. Dynamics of production structure by macroregions in kind, 2018-2023
  3. 5.2.3. Annual dynamics of production by country in kind, 2018-2023, K t
  4. 5.2.4. Structure of production by countries in kind, 2018-2023
  5. 5.2.5. Dynamics of peoduction structure by countries in kind, 2018-2023
6. Imports
1. 6.1. Imports (Direct Data*)
  1. 6.1.1. Imports - Total information
  2. 6.1.2. Imports in kind, K t
    1. 6.1.2.1. Annual dynamics of product's imports to China in kind, 2018-2024, K t
    2. 6.1.2.2. Dynamics of product's imports in kind to China by countries, 2018-2024, K t
    3. 6.1.2.3. Structure of product's imports in kind by countries, 2018-2024
  3. 6.1.3. Imports in value, M $ US
    1. 6.1.3.1. Annual dynamics of product's imports to China in value, 2018-2024, M $ US
    2. 6.1.3.2. Dynamics of product's imports in value to China by countries, 2018-2024, M $ US
    3. 6.1.3.3. Structure of product's imports in value by countries, 2018-2024
  4. 6.1.4. Average price of product's imports, $ US/t
    1. 6.1.4.1. Annual dynamics of average price of product's imports to China, 2018-2024, $ US/t
    2. 6.1.4.2. Dynamics of average price of product's imports to China by countries, 2018-2024, $ US/t
2. 6.2. Imports (Mirror Data)
  1. 6.2.1. Imports - Total information
  2. 6.2.2. Imports in kind, K t
    1. 6.2.2.1. Annual dynamics of product's imports to China in kind, 2018-2024, K t
    2. 6.2.2.2. Dynamics of product's imports in kind to China by countries, 2018-2024, K t
    3. 6.2.2.3. Structure of product's imports in kind by countries, 2018-2024
  3. 6.2.3. Imports in value, M $ US
    1. 6.2.3.1. Annual dynamics of product's imports to China in value, 2018-2024, M $ US
    2. 6.2.3.2. Dynamics of product's imports in value to China by countries, 2018-2024, M $ US
    3. 6.2.3.3. Structure of product's imports in value by countries, 2018-2024
  4. 6.2.4. Average price of product's imports, $ US/t
    1. 6.2.4.1. Annual dynamics of average price of product's imports to China, 2018-2024, $ US/t
    2. 6.2.4.2. Dynamics of average price of product's imports to China by countries, 2018-2024, $ US/t
7. Exports
1. 7.1. Exports (Direct Data*)
  1. 7.1.1. Exports - Total information
  2. 7.1.2. Exports in kind, K t
    1. 7.1.2.1. Annual dynamics of product's exports from China in kind, 2018-2024, K t
    2. 7.1.2.2. Dynamics of product's exports in kind from China by countries, 2018-2024, K t
    3. 7.1.2.3. Structure of product's exports in kind by countries, 2018-2024
  3. 7.1.3. Exports in value, M $ US
    1. 7.1.3.1. Annual dynamics of product's exports from China in value, 2018-2024, M $ US
    2. 7.1.3.2. Dynamics of product's exports in value from China by countries, 2018-2024, M $ US
    3. 7.1.3.3. Structure of product's exports in value by countries, 2018-2024
  4. 7.1.4. Average price of product's exports, $ US/t
    1. 7.1.4.1. Annual dynamics of average price of product's exports from China, 2018-2024, $ US/t
    2. 7.1.4.2. Dynamics of average price of product's exports from China by countries, 2018-2024, $ US/t
2. 7.2. Exports (Mirror Data)
  1. 7.2.1. Exports - Total information
  2. 7.2.2. Exports in kind, K t
    1. 7.2.2.1. Annual dynamics of product's exports from China in kind, 2018-2024, K t
    2. 7.2.2.2. Dynamics of product's exports in kind from China by countries, 2018-2024, K t
    3. 7.2.2.3. Structure of product's exports in kind by countries, 2018-2024
  3. 7.2.3. Exports in value, M $ US
    1. 7.2.3.1. Annual dynamics of product's exports from China in value, 2018-2024, M $ US
    2. 7.2.3.2. Dynamics of product's exports in value from China by countries, 2018-2024, M $ US
    3. 7.2.3.3. Structure of product's exports in value by countries, 2018-2024
  4. 7.2.4. Average price of product's exports, $ US/t
    1. 7.2.4.1. Annual dynamics of average price of product's exports from China, 2018-2024, $ US/t
    2. 7.2.4.2. Dynamics of average price of product's exports from China by countries, 2018-2024, $ US/t
8. Trade balance
1. 8.1. Trade balance (Direct Data)
  1. 8.1.1. In kind, K t
  2. 8.1.2. In value, M $ US
2. 8.2. Trade balance (Mirror Data)
  1. 8.2.1. In kind, K t
  2. 8.2.2. In value, M $ US
9. Top buying and selling countries, 2018-2024
1. 9.1. Direct Data
  1. 9.1.1. Import in Value by Countries-buyers
  2. 9.1.2. Export in Value by Countries-suppliers
2. 9.2. Mirror Data
  1. 9.2.1. Import in Value by Countries-buyers
  2. 9.2.2. Export in Value by Countries-suppliers

Production cocoa beans in Asia

In kind, 2017-2020, K t

Top producers of cocoa beans, 2017-2020

Source: SHEV.io

World map of production of cocoa beans, 2017-2020

Source: SHEV.io

Asia's cocoa bean production declined for the second year in a row. In 2020, the region produced 760.5 K t of cocoa beans, marking a slight decrease of 1.6% compared to the previous year. Over the 2017-2020 period, production grew by 22.8%, with an average annual growth rate of 7.1%. The highest production level was recorded in 2018 at 798.5 K t. The largest year-over-year decline occurred in 2019 at 3.2%, while the biggest increase was seen in 2018 at 28.9%.

Annual dynamics of production in Asia in kind, 2017-2020, K t

Parameter		2018	2019	2020	CAGR
1	Change from last year	28.9%	(3.2%)	(1.6%)	7.1%

Source: SHEV.io

Exports cocoa beans from Asia

Exports in kind, K t

The market showed significant volatility during these years. Export volumes varied by a factor of 3.3, from the low point in 2018 to the high in 2017. In 2020, Asia exported 108.0 K t of cocoa beans, representing a substantial year-over-year increase of 156.6%. The minimum export volume was recorded in 2018 at 33.5 K t, which also saw the largest decline of 69.3%.

Annual dynamics of product's exports from Asia in kind, 2017-2020, K t

Parameter		2018	2019	2020	CAGR
1	Change from last year	(69.3%)	25.6%	156.6%	(0.3%)

Source: SHEV.io

Structure of product's exports in kind by countries, 2017-2020

Source: SHEV.io

World map of product's exports from Asia in kind, 2017-2020

Source: SHEV.io

Exports in value, M $ US

Cocoa bean exports from Asia declined for the second consecutive year. In 2020, exports were valued at 350 M $ US, showing a modest decrease of 5.4% compared to the previous year. Between 2017 and 2020, exports fell by 9.6%, equivalent to an annualized decline of 3.3%. The peak export value was recorded in 2018 at 445 M $ US. The largest year-over-year decline occurred in 2019 at 16.9%, while the biggest increase was in 2018 at 15.0%.

Annual dynamics of product's exports from Asia in value, 2017-2020, M $ US

Parameter		2018	2019	2020	CAGR
1	Change from last year	15.0%	(16.9%)	(5.4%)	(3.3%)

Source: SHEV.io

Structure of product's exports in value by countries, 2017-2020

Source: SHEV.io

World map of product's exports from Asia in value, 2017-2020

Source: SHEV.io

Imports cocoa beans to Asia

Imports in kind, K t

After two years of growth, Asia's cocoa bean imports declined. In 2020, the region imported 911.3 K t of cocoa beans, down by 4.6% compared to 2019. Over the 2017-2020 period, imports increased by 14.2%, with an average annual growth rate of 4.5%. The highest import volume was recorded in 2019 at 911.3 K t. The largest year-over-year increase occurred in 2018 at 12.6%.

Annual dynamics of product's imports to Asia in kind, 2017-2020, K t

Parameter		2018	2019	2020	CAGR
1	Change from last year	12.6%	6.2%	(4.6%)	4.5%

Source: SHEV.io

From 2017 to 2020, Côte d'Ivoire (28.7% of imports by volume), Ghana (21.6%), and Ecuador (13.0%) were the leading sources for Asia's cocoa bean imports, together accounting for 63.3% of total import flows.

Structure of product's imports in kind by countries, 2017-2020

Source: SHEV.io

World map of product's imports to Asia in kind, 2017-2020

Source: SHEV.io

Imports in value, M $ US

Asia's cocoa bean imports increased for the third consecutive year. In 2020, imports were valued at 2 296 M $ US, representing a 6.2% gain compared to the previous year. Over the 2017-2020 period, import value grew by 18.2%, with an average annual growth rate of 5.7%.

Annual dynamics of product's imports to Asia in value, 2017-2020, M $ US

Parameter		2018	2019	2020	CAGR
1	Change from last year	4.9%	6.1%	6.2%	5.7%

Source: SHEV.io

Throughout 2017-2020, Côte d'Ivoire (28.2% of imports by value), Ghana (22.3%), and Ecuador (13.1%) remained the primary sources for Asia's cocoa bean imports, collectively representing 63.7% of total import value.

Structure of product's imports in value by countries, 2017-2020

Source: SHEV.io

World map of product's imports to Asia in value, 2017-2020

Source: SHEV.io