Not defatted cocoa paste market in Asia

Earlier Report Observations

The market volume for not defatted cocoa paste in Asia grew from 1 118 thousand tons in 2018 to 1 286 thousand tons in 2023, driven by rising consumer demand for premium, sustainable, and ethically sourced cocoa products. The expansion of modern retail and e-commerce channels across the region improved product accessibility, supporting steady consumption growth.

In value terms, the market rose from $23 135 million in 2018 to a peak of $30 939 million in 2020, then declined to $20 655 million by 2023. This volatility coincided with broader shifts in global cocoa pricing and supply chain conditions that affected trade flows and production costs.

Recent developments such as increased cocoa production in India and Hershey's investment in Malaysian manufacturing facilities highlighted the region's growing processing capacity. The 2024 implementation of the EU Deforestation Regulation also set new compliance standards for exporters targeting European markets, reflecting evolving sustainability requirements.

Production not defatted cocoa paste in Asia

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

Asia's production of not defatted cocoa paste saw a decline after two consecutive years of growth. In 2019, output reached its peak at 1 117 thousand tonnes, but in 2020 it remained virtually unchanged at 1 116 thousand tonnes. Over the period from 2017 to 2020, production increased by 21%, which translates to an annualized growth rate of 6.6%. The most significant year-on-year increase occurred in 2018, when production rose by 16.5%.

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

In value, 2017-2020, M $ US

Asia's production value of not defatted cocoa paste increased for the third year in a row. In 2020, the output was valued at 30 746 million US dollars, showing a modest rise of 1.4% compared to 2019. From 2017 to 2020, the production value grew by 78.6%, with a compound annual growth rate of 21.3%.

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

Exports not defatted cocoa paste from Asia

Exports in kind, K t

After two years of growth, Asia's exports of not defatted cocoa paste declined. In 2020, the region exported 45.5 thousand tonnes, marking a significant drop of 20.2% from the previous year. Between 2017 and 2020, exports increased by 27.7%, equivalent to an annualized rate of 8.5%. The highest export volume was recorded in 2019 at 57.1 thousand tonnes, with the largest year-on-year increase occurring in 2018 at 53.4%.

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

From 2017 to 2020, the largest buyers of not defatted cocoa paste from Asia were Australia, accounting for 10.6% of exports in kind, the United States at 1.5%, and New Zealand at 0.8%. However, their combined share was only 12.8% of total exports, indicating a highly diversified market structure.

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

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

Exports in value, M $ US

In 2020, Asia's exports of not defatted cocoa paste were valued at 177.3 million US dollars, down by 21.1% compared to 2019. Over the period from 2017 to 2020, export value decreased by 17.9%, which corresponds to an annualized decline of 6.4%. The peak value was reached in 2019 at 224.7 million US dollars, with the largest year-on-year increase also occurring that year at 13.3%.

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

Between 2017 and 2020, Australia, the United States, and New Zealand played a notable but not dominant role as buyers of not defatted cocoa paste from Asia in value terms. Australia accounted for 11.2% of exports, the United States for 1.7%, and New Zealand for 0.9%. Together, they represented just 13.8% of total export value, highlighting the market's diversity.

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

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

Imports not defatted cocoa paste to Asia

Imports in kind, K t

In 2020, Asia's imports of not defatted cocoa paste totaled 100.5 thousand tonnes, a decrease of 5.3% from 2019. From 2017 to 2020, imports declined by 4.3%, with a compound annual growth rate of -1.5%. The lowest import volume was recorded in 2018 at 98.8 thousand tonnes, while the highest was in 2019 at 106.1 thousand tonnes. The largest year-on-year decrease occurred in 2018 at 5.9%, and the largest increase was in 2019 at 7.4%.

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

The import structure for not defatted cocoa paste in Asia from 2017 to 2020 was fragmented. Côte d'Ivoire accounted for 18.5% of imports in kind, Ghana for 16.7%, and Bulgaria for 9.8%. Together, these three countries made up only 45.1% of total imports, with no single supplier holding a dominant share.

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

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

Imports in value, M $ US

In 2020, the value of not defatted cocoa paste imported into Asia was 370.2 million US dollars, reflecting a 10.2% decrease from 2019. Between 2017 and 2020, import value fell by 2.1%, equivalent to an annualized decline of 0.7%. The lowest value was recorded in 2018 at 368.5 million US dollars, while the highest was in 2019 at 412.0 million US dollars. The largest year-on-year increase occurred in 2019 at 11.8%.

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

From 2017 to 2020, the import structure in value terms was diversified. Côte d'Ivoire represented 17.8% of imports, Ghana 15.4%, and Bulgaria 9.2%. Collectively, these three countries accounted for just 42.5% of total import value, with no country establishing a clearly dominant position.

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

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