Cocoa butter market in India

Earlier Report Observations

From 2018 to 2020, the cocoa butter market volume in India remained relatively stable, fluctuating around 20 000 t. During this period, regulatory updates such as the Food Safety and Standards (Packaging and Labelling) Amendment Regulations in 2020 set new standards for products containing cocoa butter, while government initiatives including subsidies and support for cocoa farmers aimed to strengthen domestic production foundations.

The market expanded sharply in 2021 and 2022, reaching 38 526 t in 2022—a 41% increase from the previous year. This surge was linked to the launch of new chocolate products like Mars Inc.'s vegan chocolates and capacity investments such as Barry Callebaut's production unit expansion. Concurrently, rising interest in premium chocolate, the growth of e‑commerce platforms, and the entry of new players like Manorama Industries offering cocoa butter equivalents added dynamism to the market structure.

In 2023, market volume contracted by 14% to 33 272 t, primarily due to a dramatic spike in global cocoa prices, which rose 136% from mid‑2022. High raw material costs prompted manufacturers to consider FSSAI‑approved cocoa butter substitutes. Consumer trends simultaneously shifted toward chocolates with lower sugar, higher cocoa content, and an emphasis on sustainability and ethical sourcing.

Production cocoa butter in India

In kind, 2017-2020, t

Between 2017 and 2020, India ranked as the 17th largest producer of cocoa butter globally.

Top producers of cocoa butter, 2017-2020

World map of production of cocoa butter, 2017-2020

India's cocoa butter production declined for the second year in a row. In 2020, the country produced 18 957 tonnes, marking a 6.5% decrease from the previous year. The largest annual increase occurred in 2018, with production rising by 17.5% to reach a peak of 22 220 tonnes. However, the following year saw the steepest decline, as output fell by 8.8% in 2019.

Annual dynamics of production in India in kind, 2017-2020, t

In value, 2017-2020, M $ US

India's cocoa butter production value also dropped for the second consecutive year. In 2020, output was valued at 86.1 million US dollars, reflecting a significant 19.6% year-over-year reduction. From 2017 to 2020, production value decreased by 5.5%, averaging an annual decline of 1.9%. The highest value was recorded in 2018 at 121.6 million US dollars, which represented a 33.5% increase that year.

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

Exports cocoa butter from India

Exports in kind, t

Following two years of growth, India's cocoa butter export volume declined in 2020. Exports totaled 9 306 tonnes, down 8.7% from the previous year. Over the 2017-2020 period, exports decreased by 3.8%, with a compound annual growth rate of -1.3%. The peak volume was achieved in 2019 at 10 197 tonnes, which included a 4.9% increase that year.

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

From 2017 to 2020, the United States remained the primary destination for India's cocoa butter exports in volume terms, accounting for 71.8% of total shipments. The remaining exports were distributed among various other markets.

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

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

Exports in value, K $ US

After two years of improvement, India's cocoa butter export value declined in 2020. Exports were valued at 42.267 million US dollars, showing a 21.5% reduction compared to the previous year. Between 2017 and 2020, export value fell by 9.3%, with an average annual decrease of 3.2%. The highest value was recorded in 2019 at 53.867 million US dollars, following a 14.1% increase in 2018.

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

In value terms, the United States dominated India's cocoa butter exports from 2017 to 2020, capturing 72.6% of total flows. Other trading partners held relatively small shares during this period.

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

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

Imports cocoa butter to India

Imports in kind, t

After rising for two years, India's cocoa butter import volume declined in 2020. The country imported approximately 9 677 tonnes, a 1.6% decrease from 2019. Over the 2017-2020 span, imports grew by 40.3%, with a compound annual growth rate of 12.0%. The highest volume was recorded in 2019 at 9 831 tonnes, after a 19.6% increase in 2018.

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

From 2017 to 2020, Indonesia was the nearly exclusive source for India's cocoa butter imports in volume terms, supplying 90.8% of total flows.

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

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

Imports in value, K $ US

India's cocoa butter import value increased for the third consecutive year in 2020. Imports were valued at 55.776 million US dollars, up 3.5% from the prior year. Between 2017 and 2020, import value rose by 40.8%, with an average annual growth rate of 12.1%.

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

In value terms, Indonesia was the main source of cocoa butter imports to India from 2017 to 2020, accounting for 90.1% of total imports.

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

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