Cocoa butter market in Europe

Earlier Report Observations

The European cocoa butter market expanded from $24.7 billion in 2018 to $34.8 billion in 2020. This growth was primarily driven by strong demand for high-quality chocolate and organic cosmetics across the continent, with countries like Germany, Switzerland, and Belgium leading production and exports. The entry of new product lines, such as American Dream's lavender and lemon-infused cocoa butter items, highlighted innovation and personalization trends. In 2019, Italian exports of cocoa butter surged by 18.3%, reflecting robust international demand. Despite supply chain and logistical disruptions caused by the COVID-19 pandemic in 2020, the market continued to benefit from increased use of cocoa butter in pharmaceuticals and cosmetics, as well as sustained consumer preference for natural and organic products.

Market volume contracted to $25.9 billion by 2022. The ongoing impact of the pandemic on logistics and production contributed to the decline in 2021. In 2022, rising raw cocoa prices due to production deficits in West Africa, exacerbated by climate crises and geopolitical tensions, raised procurement costs and constrained availability, further reducing the market size. Additionally, the European Union's preparation for the Deforestation Regulation (EUDR), which mandates detailed proof of sustainable and legal sourcing, began to affect supply chain dynamics and compliance efforts.

The market recovered to $30.9 billion in 2023. This rebound occurred amidst steady demand from the food and cosmetic industries, where consumer preference for organic, fair-trade, and sustainably sourced cocoa butter remained strong.

Production cocoa butter in Europe

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 Europe has increased for the second consecutive year. In 2020, Europe produced 543.8 K t of cocoa butter, marking a 3.2% rise compared to the previous year. Between 2017 and 2020, production grew by 6.3%, which translates to an annualized rate of 2.1%. The lowest production level was recorded in 2018 at 423.7 K t, with the largest decline of 17.2% occurring that same year. In contrast, the largest increase of 24.3% was observed in 2019.

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

In value, 2017-2020, M $ US

Europe's cocoa butter production has increased in value for the second consecutive year. In 2020, the output was valued at 33 410 M $ US, representing a significant increase of 25.6% compared to 2019. From 2017 to 2020, production value rose by 33.9%, equating to an annualized growth rate of 10.2%. The lowest value was recorded in 2018 at 23 559 M $ US, with the largest decline of 5.6% occurring that year.

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

Exports cocoa butter from Europe

Exports in kind, K t

Market performance showed noticeable fluctuations during this period. Exports varied significantly, with a 5.8-fold difference between the high in 2017 and the low in 2019. In 2020, Europe's cocoa butter exports reached 445.3 K t, reflecting a sharp increase of 454.8% compared to 2019. The lowest export volume was recorded in 2019 at 80.3 K t, with the largest decline of 82.3% occurring that year.

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

From 2017 to 2020, Switzerland, Turkey, and Norway were the main destinations for cocoa butter exports from Europe, together accounting for 8.9% of total exports in kind. Switzerland contributed 6.3%, Turkey 1.8%, and Norway 0.9%.

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

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

Exports in value, M $ US

In 2020, Europe's cocoa butter exports amounted to 2 706 M $ US, remaining almost flat compared to the previous year. The lowest value was recorded in 2019 at 2 705 M $ US, with the largest decline of 0.9% occurring that year.

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

Throughout 2017 to 2020, the three largest markets for cocoa butter exports in value terms were Switzerland, Turkey, and Norway, together accounting for 8.7% of total export flows.

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

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

Imports cocoa butter to Europe

Imports in kind, K t

After a two-year decrease, cocoa butter imports to Europe increased. In 2020, imports totaled 527.9 K t, showing a strong uptick of 22.3% compared to 2019. Over the period from 2017 to 2020, imports decreased by 16.1%, with a compound annual growth rate (CAGR) of -5.7%. The lowest import volume was recorded in 2019 at 431.7 K t, while the largest decline of 24.8% occurred in 2018.

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

From 2017 to 2020, cocoa butter imports to Europe in kind were widely dispersed across partner countries. Côte d'Ivoire, Ghana, and Indonesia together represented only 27.0% of total flows, with Côte d'Ivoire accounting for 13.1%, Ghana for 7.9%, and Indonesia for 6.1% of imports in kind.

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

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

Imports in value, M $ US

Europe's cocoa butter imports have increased in value for the third consecutive year. In 2020, imports amounted to 4 104 M $ US, up by 3.0% compared with 2019. Over the period from 2017 to 2020, imports increased by 8.6%, with a compound annual growth rate (CAGR) of 2.8%.

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

From 2017 to 2020, cocoa butter imports to Europe in value terms were not heavily concentrated. Côte d'Ivoire, Ghana, and Indonesia together captured only 26.2% of total flows, with Côte d'Ivoire accounting for 12.5%, Ghana for 7.8%, and Indonesia for 6.0% of imports in value terms.

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

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