Not defatted cocoa paste market in South-eastern Asia

Earlier Report Observations

The not defatted cocoa paste market in South-eastern Asia saw its volume increase from 878 thousand tons in 2018 to 1,028 thousand tons in 2023. The market experienced steady growth despite a minor dip in 2022, with a significant boost in 2023 linked to a dramatic expansion of cocoa harvesting areas in Thailand's southern provinces, which raised local production and regional supply.

In value terms, the market rose from $3.3 billion in 2018 to a high of $5.3 billion in 2022 before falling to $4.6 billion in 2023. This volatility aligned with emerging global supply constraints and record cocoa prices, which began shaping the industry's cost environment. Concurrently, government programs in several countries aimed at improving production standards and promoting sustainable practices supported market development.

Industry dynamics were further influenced by shifting consumer preferences towards plant-based and clean-label chocolate products, as well as efforts to enhance export competitiveness through international certification and circular economy initiatives in the cocoa sector.

Production not defatted cocoa paste in South-eastern 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

After two consecutive years of growth, Southeast Asia's production volume of not defatted cocoa paste declined. In 2020, the region produced 939.4 thousand tons, marking a 1.6% decrease from the previous year. Over the 2017-2020 period, production increased by 23%, with a compound annual growth rate of 7.1%. The highest production level was recorded in 2019 at 954.2 thousand tons, while the largest annual increase occurred in 2018 at 19.0%.

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

In value, 2017-2020, M $ US

Southeast Asia's production value of not defatted cocoa paste increased for the second year in a row. In 2020, output was valued at 3 969 million US dollars, representing a 3.1% rise compared to 2019. From 2017 to 2020, production value grew by 4.1%, with a compound 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 a 12.6% rise.

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

Exports not defatted cocoa paste from South-eastern Asia

Exports in kind, t

Following two years of growth, Southeast Asia's export volume of not defatted cocoa paste declined. In 2020, the region exported 38 928 tons, showing a 27.1% decrease compared to 2019. Over the 2017-2020 period, exports fell by 6.8%, with a compound annual decline rate 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 South-eastern Asia in kind, 2017-2020, t

Between 2017 and 2020, export destinations for not defatted cocoa paste were well-distributed rather than concentrated. China accounted for 18.5% of exports, Japan for 12.5%, and Australia for 11.0%. Together, these three markets represented 42.1% of total export flows, with the remaining 57.9% distributed among numerous other countries.

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

Southeast Asia exported 164.5 million US dollars worth of not defatted cocoa paste in 2020, representing a 23.7% decrease from 2019. Over the 2017-2020 period, export value declined by 21.1%, with a compound annual decrease rate 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 South-eastern Asia in value, 2017-2020, M $ US

From 2017 to 2020, export value of not defatted cocoa paste from Southeast Asia was not heavily concentrated in a few key markets. China accounted for 22.7% of export value, Japan for 11.9%, and Australia for 11.7%. Together, these three countries represented 46.3% of total export flows.

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 not defatted cocoa paste to South-eastern Asia

Imports in kind, t

Import volumes showed irregular changes, indicating a volatile market environment. The lowest point occurred in 2019, while imports peaked in 2017, with a 2.3-fold difference between these years. In 2020, Southeast Asia imported 24 031 tons of not defatted cocoa paste, representing a dramatic 77.4% year-over-year increase. The minimum import volume was recorded in 2019 at 13 548 tons, while the largest annual decline occurred in 2018 at 35.6%.

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

Analysis of import volumes from 2017 to 2020 reveals a broad distribution across many 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 import flows, with the remaining 79.0% coming from numerous other partners.

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

In 2020, Southeast Asia's import value of not defatted cocoa paste reached 86.1 million US dollars, showing a sharp 31.9% decrease from the previous year. Between 2017 and 2020, import value declined by 21.9%, equating to a 7.9% annualized decrease rate. 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 South-eastern Asia in value, 2017-2020, M $ US

From 2017 to 2020, Ghana accounted for 10.0% of import value, Côte d'Ivoire for 5.2%, and the Netherlands for 3.5%. These three countries were the largest suppliers of not defatted cocoa paste to Southeast Asia, together forming 18.6% of total import value.

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