Market research

Not defatted cocoa paste market in Iceland

Release date: Mar 29, 2026

Submission: 15 minutes after payment

Research period: 2017-2025

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File format: docx, xlsx

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Earlier Report Observations

The market volume for not defatted cocoa paste in Iceland experienced considerable swings from 2018 to 2023. After a moderate decline to 317.1 tonnes in 2019, it expanded rapidly, hitting a high of 491.4 tonnes in 2021. A pronounced downturn followed, with consumption contracting to 278.1 tonnes by 2023, a level below the starting point of the period.

Import trends, which dominate the market given minimal local production, mirrored this volatility. By 2025, the market felt the effect of global supply-side pressures, as a worldwide surge in cocoa prices—driven by poor harvests in West Africa—combined with elevated international freight costs began to constrain import volumes, which fell to 226.8 tonnes that year.

Table of content

1. Disclaimer
2. Terms of use of the report
3. Product codes in the statistical classifications used in the report
4. Key Market Indicators and Trends
1. 4.1. Key Market Indicators
  1. 4.1.1. In kind
    1. 4.1.1.1. Production, 2018-2023
    2. 4.1.1.2. Imports, 2018-2025
    3. 4.1.1.3. Exports, 2018-2025
    4. 4.1.1.4. Market size, 2018-2023
2. 4.2. Market Trends and Factors
5. Production
1. 5.1. Production in Iceland
  1. 5.1.1. Annual dynamics of production in Iceland in kind, 2018-2023, kg
  2. 5.1.2. Annual dynamics of production in Iceland in value, 2018-2023, $ US
2. 5.2. Global production by Country, 2018-2023
  1. 5.2.1. Annual dynamics of production by macroregions in kind, 2018-2023, kg
  2. 5.2.2. Dynamics of production structure by macroregions in kind, 2018-2023
  3. 5.2.3. Annual dynamics of production by country in kind, 2018-2023, kg
  4. 5.2.4. Structure of production by countries in kind, 2018-2023
  5. 5.2.5. Dynamics of peoduction structure by countries in kind, 2018-2023
6. Imports
1. 6.1. Imports (Direct Data)
  1. 6.1.1. Imports - Total information
  2. 6.1.2. Imports in kind, t
    1. 6.1.2.1. Annual dynamics of product's imports to Iceland in kind, 2018-2025, t
    2. 6.1.2.2. Dynamics of product's imports in kind to Iceland by countries, 2018-2025, t
    3. 6.1.2.3. Structure of product's imports in kind by countries, 2018-2025
  3. 6.1.3. Imports in value, K $ US
    1. 6.1.3.1. Annual dynamics of product's imports to Iceland in value, 2018-2025, K $ US
    2. 6.1.3.2. Dynamics of product's imports in value to Iceland by countries, 2018-2025, K $ US
    3. 6.1.3.3. Structure of product's imports in value by countries, 2018-2025
  4. 6.1.4. Average price of product's imports, $ US/kg
    1. 6.1.4.1. Annual dynamics of average price of product's imports to Iceland, 2018-2025, $ US/kg
    2. 6.1.4.2. Dynamics of average price of product's imports to Iceland by countries, 2018-2025, $ US/kg
2. 6.2. Imports (Mirror Data)
  1. 6.2.1. Imports - Total information
  2. 6.2.2. Imports in kind, t
    1. 6.2.2.1. Annual dynamics of product's imports to Iceland in kind, 2018-2025, t
    2. 6.2.2.2. Dynamics of product's imports in kind to Iceland by countries, 2018-2025, t
    3. 6.2.2.3. Structure of product's imports in kind by countries, 2018-2025
  3. 6.2.3. Imports in value, K $ US
    1. 6.2.3.1. Annual dynamics of product's imports to Iceland in value, 2018-2025, K $ US
    2. 6.2.3.2. Dynamics of product's imports in value to Iceland by countries, 2018-2025, K $ US
    3. 6.2.3.3. Structure of product's imports in value by countries, 2018-2025
  4. 6.2.4. Average price of product's imports, $ US/kg
    1. 6.2.4.1. Annual dynamics of average price of product's imports to Iceland, 2018-2025, $ US/kg
    2. 6.2.4.2. Dynamics of average price of product's imports to Iceland by countries, 2018-2025, $ US/kg
7. Exports
1. 7.1. Exports (Direct Data)
  1. 7.1.1. Exports - Total information
  2. 7.1.2. Exports in kind, t
    1. 7.1.2.1. Annual dynamics of product's exports from Iceland in kind, 2018-2025, t
    2. 7.1.2.2. Dynamics of product's exports in kind from Iceland by countries, 2018-2025, t
    3. 7.1.2.3. Structure of product's exports in kind by countries, 2018-2025
  3. 7.1.3. Exports in value, K $ US
    1. 7.1.3.1. Annual dynamics of product's exports from Iceland in value, 2018-2025, K $ US
    2. 7.1.3.2. Dynamics of product's exports in value from Iceland by countries, 2018-2025, K $ US
    3. 7.1.3.3. Structure of product's exports in value by countries, 2018-2025
  4. 7.1.4. Average price of product's exports, $ US/kg
    1. 7.1.4.1. Annual dynamics of average price of product's exports from Iceland, 2018-2025, $ US/kg
    2. 7.1.4.2. Dynamics of average price of product's exports from Iceland by countries, 2018-2025, $ US/kg
2. 7.2. Exports (Mirror Data)
  1. 7.2.1. Exports - Total information
  2. 7.2.2. Exports in kind, t
    1. 7.2.2.1. Annual dynamics of product's exports from Iceland in kind, 2018-2025, t
    2. 7.2.2.2. Dynamics of product's exports in kind from Iceland by countries, 2018-2025, t
    3. 7.2.2.3. Structure of product's exports in kind by countries, 2018-2025
  3. 7.2.3. Exports in value, K $ US
    1. 7.2.3.1. Annual dynamics of product's exports from Iceland in value, 2018-2025, K $ US
    2. 7.2.3.2. Dynamics of product's exports in value from Iceland by countries, 2018-2025, K $ US
    3. 7.2.3.3. Structure of product's exports in value by countries, 2018-2025
  4. 7.2.4. Average price of product's exports, $ US/kg
    1. 7.2.4.1. Annual dynamics of average price of product's exports from Iceland, 2018-2025, $ US/kg
    2. 7.2.4.2. Dynamics of average price of product's exports from Iceland by countries, 2018-2025, $ US/kg
8. Trade balance
1. 8.1. Trade balance (Direct Data)
  1. 8.1.1. In kind, t
  2. 8.1.2. In value, K $ US
2. 8.2. Trade balance (Mirror Data)
  1. 8.2.1. In kind, t
  2. 8.2.2. In value, K $ US
9. Top buying and selling countries, 2018-2025
1. 9.1. Direct Data
  1. 9.1.1. Import in Value by Countries-buyers
  2. 9.1.2. Export in Value by Countries-suppliers
2. 9.2. Mirror Data
  1. 9.2.1. Import in Value by Countries-buyers
  2. 9.2.2. Export in Value by Countries-suppliers

Production not defatted cocoa paste in Iceland

In kind, 2018-2021, kg

Top producers of not defatted cocoa paste, 2018-2021

Source: SHEV.io

World map of production of not defatted cocoa paste, 2018-2021

Source: SHEV.io

Iceland's production of not defatted cocoa paste declined after two years of growth. In 2021, the country produced 8 900 kg, which represents a 33.3% decrease compared to 2020. Looking at the period from 2018 to 2021, production fell by 18.2%, averaging an annual decline of 6.5%. The highest production volume was recorded in 2020 at 13 350 kg, while the largest year-on-year increase occurred in 2019 with a 21.5% rise.

Annual dynamics of production in Iceland in kind, 2018-2021, kg

Parameter		2019	2020	2021	CAGR
1	Change from last year	21.5%	1.0%	(33.3%)	(6.5%)

Source: SHEV.io

Exports not defatted cocoa paste from Iceland

Marketing research indicates that Iceland did not export any not defatted cocoa paste between 2018 and 2021.

Imports not defatted cocoa paste to Iceland

Imports in kind, t

Iceland's imports of not defatted cocoa paste increased for the second year in a row. In 2021, import volumes reached 482.5 t, marking a 30.9% increase from the previous year. Over the 2018-2021 period, imports grew by 43.8%, with a compound annual growth rate of 12.9%. The lowest import volume was recorded in 2019 at 303.9 t, which also saw the largest decline of 9.4% that year.

Annual dynamics of product's imports to Iceland in kind, 2018-2021, t

Parameter		2019	2020	2021	CAGR
1	Change from last year	(9.4%)	21.3%	30.9%	12.9%

Source: SHEV.io

From 2018 to 2021, Côte d'Ivoire and the Netherlands were the dominant sources for Iceland's imports of not defatted cocoa paste in volume terms, together accounting for 85.2% of total imports. The remaining share was distributed among various other countries.

Structure of product's imports in kind by countries, 2018-2021

Source: SHEV.io

World map of product's imports to Iceland in kind, 2018-2021

Source: SHEV.io

Imports in value, K $ US

In 2021, Iceland imported not defatted cocoa paste worth 1 915 K $ US, showing a slight decrease of 0.8% compared to the previous year. Between 2018 and 2021, import values increased by 16.1%, with an average annual growth rate of 5.1%. The lowest value was recorded in 2019 at 1 488 K $ US, while the highest was in 2020 at 1 915 K $ US. The largest decline occurred in 2019 with a 9.1% drop, and the largest increase was in 2020 with a 28.7% rise.

Annual dynamics of product's imports to Iceland in value, 2018-2021, K $ US

Parameter		2019	2020	2021	CAGR
1	Change from last year	(9.1%)	28.7%	(0.8%)	5.1%

Source: SHEV.io

During the 2018-2021 period, the value of Iceland's imports of not defatted cocoa paste was primarily driven by Côte d'Ivoire and the Netherlands, which together made up 85.1% of total import value. Other markets contributed to the remaining share, forming a diverse but smaller segment.

Structure of product's imports in value by countries, 2018-2021

Source: SHEV.io

World map of product's imports to Iceland in value, 2018-2021

Source: SHEV.io