Cocoa powder and cake market in South-eastern Asia, 2026

Earlier Report Observations

The market volume for cocoa powder and cake in South-eastern Asia showed notable fluctuations between 2018 and 2023. It grew from 313 thousand tons in 2018 to 333 thousand tons in 2019, supported by rising Asian demand for chocolate confectionery and increased processing of cocoa beans. However, in 2020, the market volume dropped sharply to 216 thousand tons. A recovery followed, with volume reaching 276 thousand tons in 2021 and climbing further to 351 thousand tons by 2023. This rebound was facilitated by continued investments in cocoa processing and market expansion efforts across the region.

Several initiatives drove production and supply chain improvements. In Malaysia, the government targeted higher export values and coordinated industry activities to enhance competitiveness. Indonesia saw exporters entering new markets, though aging plantations and pests posed challenges, leading to replanting programs. Vietnam gained recognition for Fine Flavour Cocoa, attracting investments in processing technology and sustainable farming, which boosted local cocoa quality and production.

By 2024, global factors began shaping the market. Supply shortages in West Africa and South America, due to climate change and crop diseases, pushed up cocoa prices worldwide, increasing production costs in South-eastern Asia. Despite this, countries like Indonesia reported soaring exports of processed cocoa products, while concerns arose about the impact of EU deforestation regulations on future trade.

Production cocoa powder and cake in South-eastern Asia

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

After two consecutive years of growth, cocoa powder and cake production in South-eastern Asia experienced a decline. In 2020, production reached 485.8 thousand tonnes, showing little change from the previous year. Looking at the period from 2017 to 2020, production increased by 24.9%, which translates to an average annual growth rate of 7.7%. The peak production level was recorded in 2019 at 488.2 thousand tonnes, with the most significant annual increase occurring in 2018 at 19.6%.

Annual dynamics of production in South-eastern Asia in kind, 2017-2020, K t

In value, 2017-2020, M $ US

In 2020, the value of cocoa powder and cake production in South-eastern Asia was 1 127 million US dollars, representing a year-on-year decrease of 9.6%. Over the 2017-2020 period, production value fell by 5.4%, with a compound annual growth rate of -1.8%. The lowest value was recorded in 2018 at 1 087 million US dollars, while the highest value occurred in 2019 at 1 248 million US dollars. The most substantial annual increase took place in 2019, reaching 14.8%.

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

Exports cocoa powder and cake from South-eastern Asia

Exports in kind, K t

In 2020, cocoa powder and cake exports from South-eastern Asia totaled 304.0 thousand tonnes, marking a 29.8% increase compared to 2019. From 2017 to 2020, exports grew by 37.2%, with an average annual growth rate of 11.1%. The most significant decline occurred in 2019, when exports fell by 10.1%.

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

The country composition of exports in volume terms during 2017-2020 was highly diversified. China accounted for 9.8% of exports, the United States for 8.5%, and India for 6.3%. Together, these three markets represented just 24.6% of total export flows, with the remaining 75.4% distributed across numerous other destinations.

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

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

Exports in value, M $ US

Following two years of decline, cross-border shipments of cocoa powder and cake from South-eastern Asia rebounded. In 2020, export value reached 705.4 million US dollars, representing a 17.9% increase compared to the previous year. Over the 2017-2020 period, exports grew by 3.9%, with an average annual growth rate of 1.3%. The lowest value was recorded in 2019 at 598.5 million US dollars, while the most significant decline occurred in 2018 at 10.3%.

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

Analysis of export values during 2017-2020 reveals a broad distribution across multiple markets. China accounted for 10.9% of export value, the United States for 7.4%, and India for 6.3%. Collectively, these three countries represented only 24.6% of total export flows, with a substantial 75.4% going to various other trading partners.

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

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

Imports cocoa powder and cake to South-eastern Asia

Imports in kind, K t

The market demonstrated considerable volatility during the observed period. The lowest import volume was recorded in 2020 at 33.9 thousand tonnes, while the highest occurred in 2018 at 108.2 thousand tonnes, representing a peak-to-trough ratio of 3.2 times. In 2020, imports declined by 56.9% year-on-year. The most substantial annual increase took place in 2018, reaching 217.3%.

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

The country composition of imports in volume terms during 2017-2020 was highly diversified. The Netherlands accounted for 8.8% of imports, Ghana for 2.1%, and Côte d'Ivoire for 1.6%. Together, these three suppliers represented just 12.6% of total import flows, with the remaining 87.4% coming from a wide range of other sources.

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

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

Imports in value, M $ US

After two consecutive years of decline, cocoa powder and cake imports into South-eastern Asia increased. In 2020, import value reached 279.6 million US dollars, representing an 8.8% increase compared to the previous year. However, over the 2017-2020 period, imports decreased by 11.8%, equivalent to an average annual decline of 4.1%. The lowest value was recorded in 2019 at 256.9 million US dollars, with the most significant annual decline occurring that same year at 15.5%.

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

During 2017-2020, the Netherlands accounted for 10.1% of import value, France for 1.7%, and Ghana for 1.6%. While these three countries formed the largest group of suppliers to South-eastern Asia, their combined contribution was limited to just 13.4% of total import value, reflecting a highly diversified supplier structure.

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

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