Cocoa butter market in Eastern Asia

Earlier Report Observations

After reaching 56 770 t in 2019, the Eastern Asian cocoa butter market volume dropped sharply to 48 338 t in 2020. This decline was primarily driven by the COVID-19 pandemic, which reduced chocolate and confectionery sales during key holidays in China, a major market in the region.

Market volume rebounded strongly to 57 861 t in 2021 and then stabilized around 57 200-57 600 t in 2022-2023. During this period, health-conscious consumer trends emerged, leading to the launch of high-cacao chocolate products like Meiji's 'Chocolate Kouka' line in Japan. These products quickly gained popularity, reflecting a shift towards healthier lifestyles that supported sustained demand for cocoa butter.

By 2024, global cocoa supply shortages, particularly from West Africa, led to sharp price increases and processing plant halts, impacting cocoa butter market conditions in Eastern Asia.

Production cocoa butter in Eastern Asia

In kind, 2017-2020, t

Top producers of cocoa butter, 2017-2020

World map of production of cocoa butter, 2017-2020

Cocoa butter production in Eastern Asia has declined for the second year in a row. In 2020, the region produced 18 601 tons of cocoa butter, marking a 21.9% decrease from the previous year. Looking at the period from 2017 to 2020, production fell by 20.1%, with an average annual decline of 7.2%. The highest production level was recorded in 2018 at 24 402 tons, which also saw the largest increase of 4.8%.

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

In value, 2017-2020, M $ US

Cocoa butter production in Eastern Asia has dropped for the second consecutive year. In 2020, the output was valued at 95.8 million US dollars, representing a 22.9% decline compared to 2019. Over the 2017-2020 period, production decreased by 13.8%, with an average annual reduction of 4.8%. The peak value occurred in 2018 at 136.8 million US dollars, which also experienced the largest increase of 23.1%.

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

Exports cocoa butter from Eastern Asia

Exports in kind, t

Eastern Asia's cocoa butter exports have fallen for the second year in a row. In 2020, the region exported 5 725 tons, down 39.6% from the previous year. From 2017 to 2020, exports decreased by 29%, with an average annual decline of 10.8%. The maximum export volume was recorded in 2018 at 11 624 tons, which also saw the largest increase of 44.1%.

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

Between 2017 and 2020, the United States, Estonia, and the Netherlands were the key partners for Eastern Asia's cocoa butter exports in volume terms. The United States accounted for 40.7% of exports, Estonia for 25.7%, and the Netherlands for 20.0%. Together, these three countries represented 86.5% of total export flows.

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

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

Exports in value, M $ US

Eastern Asia's cocoa butter exports in value terms have declined for the second consecutive year. In 2020, exports amounted to 29.5 million US dollars, a sharp drop of 40.4% compared to 2019. Between 2017 and 2020, exports fell by 23.5%, with an average annual decrease of 8.5%. The highest value was recorded in 2018 at 65.2 million US dollars, which also experienced the largest increase of 69.2%.

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

From 2017 to 2020, the United States, Estonia, and the Netherlands were the main markets for Eastern Asia's cocoa butter exports in value terms. Together, these three countries absorbed 86.2% of total export value.

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

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

Imports cocoa butter to Eastern Asia

Imports in kind, t

After increasing for two years, Eastern Asia's cocoa butter imports in volume terms declined. In 2020, the region imported 35 800 tons, reflecting a 16.5% year-over-year fall. Between 2017 and 2020, imports decreased by 5.4%, with an average annual decline of 1.8%. The peak import volume was recorded in 2019 at 42 446 tons, while the largest increase occurred in 2018 at 11.0%.

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

Throughout 2017-2020, Malaysia and Indonesia dominated Eastern Asia's cocoa butter imports in volume terms, together accounting for 81.3% of total flows. Other markets contributed smaller shares, forming a long tail.

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

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

Imports in value, M $ US

Following a two-year advance, Eastern Asia's cocoa butter imports in value terms declined. In 2020, imports totaled 204.7 million US dollars, a substantial decrease of 14.7% from the previous year. Over the 2017-2020 period, imports fell by 3.5%, with an average annual decline of 1.2%. The maximum value was recorded in 2019 at 239.8 million US dollars, and the largest increase occurred in 2018 at 8.2%.

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

From 2017 to 2020, Malaysia, Indonesia, and Singapore were the core sources for Eastern Asia's cocoa butter imports in value terms. Malaysia accounted for 51.0% of imports, Indonesia for 29.0%, and Singapore for 12.5%. Together, these three countries represented 92.5% of total import flows.

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

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