Cocoa powder and cake market in Europe

Earlier Report Observations

The European market for cocoa powder and cake grew steadily from 696 тыс. т in 2018 to 911 тыс. т in 2021. This expansion was supported by strong consumer demand for dark chocolate in key markets like France, which increased consumption of cocoa-based products. In 2020, a drop in European cocoa bean imports tightened raw material supply, contributing to higher product prices and a rise in market value from $2 354 million to $3 207 million.

Market volume contracted from 2022, falling to 677 тыс. т in 2023. Unfavorable global weather conditions hampered cocoa production, limiting bean availability. This was exacerbated in 2023 by severe harvest shortfalls in Ivory Coast and Ghana due to climate change and El Niño, which slashed global cocoa output and sent bean prices to historic highs, reducing the physical volume of products available in Europe.

Throughout the period, consumer preferences shifted towards premium, organic and ethically sourced cocoa powder, prompting product innovations from major companies like Barry Callebaut. Regulatory developments like the EU Deforestation Regulation (EUDR) also began emphasizing traceability and sustainability in supply chains.

Production cocoa powder and cake in Europe

In kind, 2017-2020, K t

Top producers of cocoa powder and cake, 2017-2020

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

Europe's production of cocoa powder and cake increased after two years of decline. In 2019, output reached its lowest point at 811.6 thousand tonnes, but then stabilized in 2020 with 814.3 thousand tonnes, showing minimal change from the previous year. The largest decline occurred in 2018, when production fell by 0.7%.

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

In value, 2017-2020, M $ US

Europe's production of cocoa powder and cake grew for the second consecutive year. In 2020, output was valued at 3 459 million US dollars, marking a significant increase of 24.7% compared to 2019. Over the period from 2017 to 2020, production rose by 17.1%, which translates to an annualized growth rate of 5.4%. The lowest value was recorded in 2018 at 2 561 million US dollars, when production experienced its largest decline of 13.3%.

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

Exports cocoa powder and cake from Europe

Exports in kind, K t

Europe's exports of cocoa powder and cake declined for the second year in a row. In 2020, exports fell to 350.1 thousand tonnes, down by 16.2% from the previous year. Between 2017 and 2020, exports decreased by 14%, equivalent to an annualized rate of 4.9%. The highest export volume was in 2018 at 456.1 thousand tonnes, which also saw the largest increase of 12.0%.

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

From 2017 to 2020, the United States, Turkey, and Algeria were the top buyers of cocoa powder and cake from Europe, accounting for 14.5%, 4.1%, and 2.4% of exports in kind, respectively. However, their combined share was only 21.0% of total exports, indicating a highly diversified market structure with many other countries involved.

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

Europe's exports of cocoa powder and cake in value terms increased after two years of decline. In 2020, exports reached 1 487 million US dollars, up by 4.1% compared to the previous year. The lowest value was recorded in 2019 at 1 428 million US dollars, while the largest decline occurred in 2018 with a drop of 2.2%.

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

Between 2017 and 2020, the geographical structure of Europe's cocoa powder and cake exports in value terms was highly diversified. The United States, Turkey, and Algeria accounted for 14.8%, 3.6%, and 2.0% of exports, respectively, but together they represented only 20.4% of total flows. The remaining 79.6% was distributed among numerous smaller partner countries.

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 powder and cake to Europe

Imports in kind, K t

In 2020, Europe's imports of cocoa powder and cake in volume terms reached 345.9 thousand tonnes, a modest decline of 6.7% from 2019. Over the 2017-2020 period, imports decreased by 6.6%, with a compound annual growth rate of -2.2%. The lowest volume was in 2018 at 337.7 thousand tonnes, when imports saw their largest decline of 8.8%. In contrast, the highest volume was in 2019 at 370.6 thousand tonnes, which also recorded the largest increase of 9.8%.

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

During 2017-2020, Côte d'Ivoire, Ghana, and Indonesia were key suppliers of cocoa powder and cake to Europe, contributing 17.5%, 11.6%, and 3.8% of imports in kind, respectively. Their combined share was 32.8% of total imports, while the remaining 67.2% came from a wide range of other partners, highlighting a diverse import structure.

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 imports of cocoa powder and cake in value terms increased after two years of decline. In 2020, imports amounted to 1 235 million US dollars, rising by 4.3% compared to the previous year. The lowest value was in 2019 at 1 184 million US dollars, which also saw the largest decline of 3.5%.

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

From 2017 to 2020, Europe's import portfolio for cocoa powder and cake in value terms was quite broad. Côte d'Ivoire, Ghana, and Malaysia accounted for 13.2%, 8.9%, and 2.8% of imports, respectively, but together they represented only 25.0% of total flows, with the rest distributed among many other countries.

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

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