Not defatted cocoa paste market in ASEAN

Earlier Report Observations

The volume of the not defatted cocoa paste market in ASEAN increased from 878 thousand tons in 2018 to 1 028 thousand tons in 2023. Growth was consistent until a slight contraction to 970 thousand tons in 2022, after which consumption resumed its upward trajectory.

In value terms, the market expanded from 3 321 million USD in 2018 to 5 319 million USD in 2022, before declining to 4 561 million USD in 2023. The peak in market value coincided with a period of higher global commodity prices, while the subsequent drop reflected a correction in prices and changing cost structures.

In 2024, the market was influenced by significant corporate investments and new regulations. Hershey expanded its manufacturing and R&D facilities in Malaysia to develop products tailored for Asian consumers, strengthening local production capacity. Furthermore, the European Union Deforestation Regulation (EUDR) took effect, requiring cocoa exporters to the EU to provide proof of deforestation-free sourcing, which directly impacted market access for ASEAN suppliers.

Production not defatted cocoa paste in ASEAN

In kind, 2017-2020, K t

Top producers of not defatted cocoa paste, 2017-2020

World map of production of not defatted cocoa paste, 2017-2020

ASEAN's production of not defatted cocoa paste declined in 2020 after two consecutive years of growth. The region produced 939.4 thousand tons that year, representing a 1.6% decrease from 2019. Over the 2017-2020 period, production grew by 23%, with an average annual growth rate of 7.1%. The highest production level was recorded in 2019 at 954.2 thousand tons, while the most significant annual increase occurred in 2018 at 19.0%.

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

In value, 2017-2020, M $ US

ASEAN's production of not defatted cocoa paste increased in value for the second consecutive year in 2020. The output was valued at 3 969 million US dollars, marking a 3.1% increase from the previous year. From 2017 to 2020, production value rose by 4.1%, with an average annual growth rate of 1.4%. The lowest value was recorded in 2018 at 3 419 million US dollars, which saw a 10.3% decline that year. The largest increase occurred in 2019 with 12.6% growth.

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

Exports not defatted cocoa paste from ASEAN

Exports in kind, t

ASEAN's exports of not defatted cocoa paste declined in 2020 following two years of growth. Exports totaled 38 928 tons, representing a 27.1% decrease from 2019. Over the 2017-2020 period, exports fell by 6.8%, with an average annual decline of 2.3%. The peak export volume was recorded in 2019 at 53 421 tons, while the largest annual increase occurred in 2018 at 21.8%.

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

The export structure for not defatted cocoa paste from ASEAN showed significant diversification between 2017 and 2020. China accounted for 18.5% of exports by volume, Japan for 12.5%, and Australia for 11.0%. Together, these three markets represented just 42.1% of total exports, with the remaining 57.9% distributed across numerous smaller markets.

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

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

Exports in value, M $ US

In 2020, ASEAN's exports of not defatted cocoa paste reached 164.5 million US dollars, showing a 23.7% year-over-year decline. From 2017 to 2020, export value decreased by 21.1%, with an average annual decline of 7.6%. The highest export value was recorded in 2019 at 215.5 million US dollars, which also saw the largest annual increase at 12.6%.

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

Between 2017 and 2020, ASEAN's exports of not defatted cocoa paste in value terms were not heavily concentrated. China accounted for 22.7% of export value, Japan for 11.9%, and Australia for 11.7%. Together, these three markets represented only 46.3% of total export value.

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

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

Imports not defatted cocoa paste to ASEAN

Imports in kind, t

ASEAN's imports of not defatted cocoa paste showed significant volatility between 2017 and 2020. Imports reached their lowest point in 2019 at 13 548 tons and peaked in 2017, with a 2.3-fold difference between these years. In 2020, imports totaled 24 031 tons, marking a substantial 77.4% increase from 2019. The largest annual decline occurred in 2018 at 35.6%.

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

Between 2017 and 2020, ASEAN's imports of not defatted cocoa paste by volume were widely distributed across multiple suppliers. Ghana accounted for 11.0% of imports, Côte d'Ivoire for 5.5%, and the Netherlands for 4.5%. Together, these three countries represented just 21.0% of total imports, with no single supplier emerging as clearly dominant.

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

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

Imports in value, M $ US

In 2020, ASEAN's imports of not defatted cocoa paste amounted to 86.1 million US dollars, representing a sharp 31.9% decline from the previous year. From 2017 to 2020, import value decreased by 21.9%, with an average annual decline of 7.9%. The highest import value was recorded in 2019 at 126.5 million US dollars, which also saw the largest annual increase at 35.0%.

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

Between 2017 and 2020, Ghana, Côte d'Ivoire, and the Netherlands remained the principal suppliers of not defatted cocoa paste to ASEAN in value terms. Ghana accounted for 10.0% of import value, Côte d'Ivoire for 5.2%, and the Netherlands for 3.5%. Together, these three countries represented 18.6% of total import value.

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

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