Cocoa powder and cake market in Eastern Asia

Earlier Report Observations

From 2018 to 2020, the cocoa powder and cake market in Eastern Asia contracted in volume, with the market size falling from 103.8 thousand tons to 80.7 thousand tons. The initial high volume in 2018 was supported by broad demand from the food, beverage, cosmetics, and pharmaceutical industries. However, growing concerns over cocoa bean supply from West Africa due to climate change and pests began to affect raw material availability, contributing to the subsequent decline in market volume.

A recovery began in 2021, with the market expanding to 97.6 thousand tons and reaching 103.7 thousand tons by 2023. This growth was driven by the entry of new players and greater product diversification, particularly in health-oriented and sustainable cocoa products. Concurrently, rising consumer interest in low-sugar, high-cocoa content, and functional foods boosted demand. Shifts in distribution channels, including the expansion of online sales and convenience stores, also improved product accessibility for consumers.

The market continued to face supply-side pressures in 2023, as a 35% production drop in Ghana, a key African supplier, caused cocoa bean prices to surge. Despite these cost increases, market volume grew further, supported by a strong consumer trend toward premium, artisanal, and functional cocoa products. By 2024, record-high cocoa prices led major companies to focus on product innovation and the development of items with lower cocoa content, while health, sustainability, and premiumization remained central market drivers.

Production cocoa powder and cake in Eastern Asia

In kind, 2017-2020, t

Top producers of cocoa powder and cake, 2017-2020

World map of production of cocoa powder and cake, 2017-2020

Cocoa powder and cake production in Eastern Asia declined for the second consecutive year. In 2020, the region produced 20,976 tonnes, marking a significant 21.9% decrease from the previous year. Over the 2017-2020 period, production fell by 20.1%, with a compound annual growth rate of -7.2%. The highest production level was recorded in 2018 at 27,517 tonnes, which also saw the largest annual increase of 4.8%.

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

In value, 2017-2020, K $ US

Cocoa powder and cake production in Eastern Asia declined for the second consecutive year. In 2020, the output was valued at $32,799,000, representing a 7.5% year-over-year decrease. From 2017 to 2020, production value dropped by 22.8%, with a compound annual growth rate of -8.3%. The peak value occurred in 2018 at $42,899,000, which saw a modest 1.0% increase. The most substantial decline was recorded in 2019 at 17.3%.

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

Exports cocoa powder and cake from Eastern Asia

Exports in kind, t

Eastern Asia's cocoa powder and cake exports increased for the second consecutive year. In 2020, the region exported 15,719 tonnes, up 6.1% year-over-year. Between 2017 and 2020, exports grew by 17%, equivalent to an annualized rate of 5.4%. The lowest export volume was in 2018 at 9,474 tonnes, which experienced the largest decline of 29.5%. The most significant increase occurred in 2019 with a 56.4% rise.

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

From 2017 to 2020, cocoa powder and cake from Eastern Asia were traded with numerous countries. Even the top three destinations—Sri Lanka, Spain, and Indonesia—collectively accounted for only 26.6% of total exports in volume terms.

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

Cocoa powder and cake deliveries from Eastern Asia increased for the second consecutive year. In 2020, exports reached $24.6 million, a strong 25.6% increase compared to the previous year. Between 2017 and 2020, export value grew by 13.1%, equating to an annualized rate of 4.2%. The lowest value was recorded in 2018 at $14.8 million, which saw the largest decline of 32.1%. The most substantial increase occurred in 2019 with a 32.5% rise.

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

From 2017 to 2020, the buyer portfolio for cocoa powder and cake from Eastern Asia was diverse. The top three countries—Sri Lanka (10.3% of export value), Spain (7.2%), and Indonesia (6.0%)—together contributed only 23.5% of total export value, while many other countries held smaller but notable shares.

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 powder and cake to Eastern Asia

Imports in kind, t

In 2020, Eastern Asia imported 75,485 tonnes of cocoa powder and cake, showing little change from the previous year. Between 2017 and 2020, imports increased by 4%, equivalent to an annualized rate of 1.3%. The highest import volume was in 2018 at 85,731 tonnes, which saw the largest increase of 18.1%. The most significant decline occurred in 2019 with a 12.1% drop.

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

Throughout 2017-2020, three key markets—Malaysia, the Netherlands, and Singapore—dominated imports in volume terms, together accounting for 68.5% of total flows.

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

In 2020, foreign cocoa powder and cake supplies to Eastern Asia reached $196.3 million, a 3.7% gain compared to 2019. Over the 2017-2020 period, imports decreased by 2.5%, with a compound annual growth rate of -0.8%. The lowest value was recorded in 2019 at $189.2 million, which experienced the largest decline of 6.4%. The peak value occurred in 2018 at $202.1 million.

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

From 2017 to 2020, Malaysia (33.2% of import value), the Netherlands (23.4%), and Singapore (17.0%) together accounted for 73.6% of total imports in value terms, serving as the primary sources for cocoa powder and cake to Eastern Asia.

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

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