Not defatted cocoa paste market in Europe

Earlier Report Observations

The European market for not defatted cocoa paste is underpinned by the region's position as the world's largest chocolate consumer and a central hub for industrial cocoa processing. Europe imports substantial volumes of cocoa beans, primarily from West Africa, and hosts major production facilities in countries like Belgium, the Netherlands, Germany, and Switzerland.

Between 2018 and 2023, the market volume in physical terms fluctuated moderately, peaking at 1.6 million tons in 2021 before receding. In value terms, the market expanded significantly from $5.7 billion in 2018 to $7.5 billion in 2023, driven largely by rising cocoa prices. Poor harvests in West Africa due to heavy rains, floods, and droughts from 2023 onward led to record cocoa prices, increasing the cost base for cocoa paste.

By 2024, crop failures in West Africa reached 40-50% due to diseases and climate variability, severely tightening cocoa supply. European processors engaged in proactive stocking, and the impending EU Deforestation Regulation further increased costs for the industry. Cocoa bean processing in Europe declined by 6.1% in 2024, indicating sustained pressure on the supply chain and continued upward price momentum.

Production not defatted cocoa paste in Europe

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

Europe's production of not defatted cocoa paste has declined for the second year in a row. In 2020, output reached 1 370 K t, marking a slight decrease of 0.8% compared to 2019. Looking at the period from 2017 to 2020, production grew by 6.4%, which translates to an average annual increase of 2.1%. The highest production level was recorded in 2018 at 1 394 K t, when output surged by 8.2%. The most significant drop occurred in 2019, with a decline of 0.9%.

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

In value, 2017-2020, M $ US

In 2020, the value of not defatted cocoa paste production in Europe stood at 6 147 M $ US, reflecting a substantial increase of 21.7% over the previous year. From 2017 to 2020, the value rose by 28%, averaging an 8.6% annual growth rate. The largest decrease was observed in 2019, when the value fell by 0.3%.

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

Exports not defatted cocoa paste from Europe

Exports in kind, K t

In 2020, Europe exported 347.7 K t of not defatted cocoa paste, down by 5.0% compared to 2019. Over the period from 2017 to 2020, exports decreased by 5.6%, with an average annual decline of 1.9%. The most notable increase occurred in 2019, when exports grew by 1.0%.

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

Between 2017 and 2020, the export structure for not defatted cocoa paste in kind was fairly balanced rather than concentrated. Turkey accounted for 4.7% of exports, Switzerland for 2.6%, and China for 1.1%. Together, these three countries represented 8.4% of total export flows, while the remaining 91.6% was distributed among many other nations.

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 not defatted cocoa paste in value terms have increased for the second consecutive year. In 2020, exports amounted to 1 560 M $ US, showing a gain of 16.4% over the previous year. From 2017 to 2020, export value rose by 13.5%, averaging a 4.3% annual growth rate. The lowest value was recorded in 2018 at 1 319 M $ US, when exports declined by 4.0%.

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

From 2017 to 2020, Europe traded not defatted cocoa paste with a wide range of countries. Even the top destinations—Turkey, Switzerland, and China—collectively accounted for only 8.2% of total export value, highlighting the diversified nature of the market.

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

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

Imports not defatted cocoa paste to Europe

Imports in kind, K t

Following two years of growth, Europe's imports of not defatted cocoa paste in kind declined in 2020. Total imports reached 485.2 K t, indicating a moderate decrease of 7.4% year-over-year. Over the 2017–2020 period, imports fell by 3.7%, with an average annual decline of 1.3%. The peak import volume was recorded in 2019 at 523.9 K t, while the largest increase occurred in 2018, with a rise of 2.9%.

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

Between 2017 and 2020, Côte d'Ivoire, Ghana, and Switzerland were the leading suppliers of not defatted cocoa paste to Europe in kind, accounting for 29.9%, 13.9%, and 2.9% of imports, respectively. However, their combined share was limited to 46.7% of total imports, reflecting a diversified supplier 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 not defatted cocoa paste in value terms have risen for the second year in a row. In 2020, imports totaled 2 207 M $ US, marking an uptick of 10.8% compared to the previous year. From 2017 to 2020, import value increased by 9.7%, averaging a 3.1% annual growth rate. The lowest value was recorded in 2018 at 1 921 M $ US, when imports declined by 4.4%.

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

Data from 2017 to 2020 show that Europe's imports of not defatted cocoa paste in value terms were not heavily concentrated. Côte d'Ivoire accounted for 28.5% of import value, Ghana for 12.8%, and Switzerland for 3.7%. Together, these three countries represented only 45.0% of total import flows, underscoring the broad distribution across multiple suppliers.

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

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