Cocoa butter market in ASEAN

Earlier Report Observations

The cocoa butter market in ASEAN experienced steady growth from 2018 to 2021, with volume expanding from 160.4 thousand tons to 189.0 thousand tons. This rise was driven by the region's expanding middle class, which increased spending on chocolate confectionery, and by the personal care industry's growing use of cocoa butter in cosmetics. Consumer preference for premium and organic products further bolstered demand. Despite supply chain disruptions in 2020 due to climate-related cocoa crop issues, market volume continued to climb, supported by heightened consumer focus on sustainability and ethical sourcing.

After a decline to 151.2 thousand tons in 2022, the market rebounded sharply to reach 201.5 thousand tons in 2023. The recovery was fueled by ASEAN's emergence as a major processing hub, with expanded cocoa butter production capacity in Malaysia and Indonesia. Concurrently, clean-label and organic trends in skincare formulations boosted demand for unrefined, natural cocoa butter, while technological advancements improved processing efficiency.

Production cocoa butter in ASEAN

In kind, 2017-2020, K t

Top producers of cocoa butter, 2017-2020

World map of production of cocoa butter, 2017-2020

Cocoa butter production in ASEAN has increased for the third consecutive year. In 2020, production reached 455.1 K t, remaining nearly unchanged compared to 2019. Over the period from 2017 to 2020, production grew by 26.8%, with an average annual growth rate of 8.2%.

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

In value, 2017-2020, M $ US

ASEAN's cocoa butter production has risen for the third year in a row. In 2020, the output was valued at 2 505 M $ US, up by 5.3% from 2019. From 2017 to 2020, production increased by 36.1%, with a compound annual growth rate of 10.8%.

Annual dynamics of production in ASEAN in value, 2017-2020, M $ US

Exports cocoa butter from ASEAN

Exports in kind, K t

After two years of growth, cocoa butter export volumes from ASEAN declined. In 2020, exports amounted to 284.2 K t, a decrease of 3.9% year-over-year. Between 2017 and 2020, exports rose by 20%, equating to an annualized rate of 6.3%. The peak was recorded in 2019 at 295.6 K t, with the largest increase occurring in 2018 at 13.4%.

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

From 2017 to 2020, cocoa butter exports from ASEAN were distributed across many countries. The United States accounted for 27.3% of exports in kind, Japan for 8.3%, and the Netherlands for 7.6%, together making up only 43.3% of total flows.

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

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

Exports in value, M $ US

ASEAN's cocoa butter export value has increased for the third consecutive year. In 2020, exports reached 1 564 M $ US, showing a slight advance of 0.8% compared to the previous year. Over the period from 2017 to 2020, exports grew by 28.8%, with a compound annual growth rate of 8.8%.

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

From 2017 to 2020, the country breakdown of exports in value terms was scattered. The United States represented 27.9% of exports in value terms, Japan 8.6%, and the Netherlands 7.8%, together accounting for just 44.3% of total flows, with no single partner emerging as clearly dominant.

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

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

Imports cocoa butter to ASEAN

Imports in kind, K t

The market showed signs of volatility over the observed period. Imports varied significantly, with a 4.6-fold difference between the high in 2017 and the low in 2018. In 2020, ASEAN imported 1.4 K t of cocoa butter, marking a steep reduction of 43.7% compared to 2019. The minimum value was recorded in 2018 at 0.7 K t, with the largest decline of 78.3% also in 2018, and the largest increase of 236.2% in 2019.

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

From 2017 to 2020, two main sources—the Netherlands and South Korea—together accounted for 2.1% of total cocoa butter imports in kind to ASEAN.

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

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

Imports in value, M $ US

Imported cocoa butter volumes in ASEAN have increased for the third consecutive year. In 2020, imports were valued at 83 M $ US, up by 41.2% from 2019. Over the period from 2017 to 2020, imports surged by 134.1%, with a compound annual growth rate of 32.8%.

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

From 2017 to 2020, the Netherlands accounted for 1.6% of imports in value terms, South Korea for 1.0%, and the United States for 0.6%, together making up 3.2% of total imports in value terms, and remaining the main destinations for cocoa butter to ASEAN.

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

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