Not defatted cocoa paste market in Spain

Earlier Report Observations

Between 2018 and 2021, the Spanish market for not defatted cocoa paste expanded in volume from 83 528 t to 87 722 t, while its value increased from $283.3 million to $329.9 million. Production fluctuated within a narrow band, peaking at 79 532 t in 2021.

In 2022, market volume contracted to 79 782 t and value fell to $288.3 million. This decline coincided with a global cocoa production crisis, where aging trees, adverse weather, and disease created a raw material deficit that constrained supply and drove up prices. The market rebounded strongly in 2023, with volume reaching 88 387 t and value surging to $387.8 million, supported by higher imports and adjustments to the supply crunch. Concurrently, major manufacturers like Natra and Sanchis Mira expanded through acquisitions, consolidating their presence in private-label and distribution channels. The upcoming EU Regulation on deforestation-free products, with a compliance deadline in late 2024, began influencing supply-chain strategies.

Early 2024 trade figures show a sharp rise in imports to 24 203 t and exports to 11 337 t, reflecting ongoing market adaptation to persistent global supply pressures and the impending full enforcement of the EU deforestation rules.

Production not defatted cocoa paste in Spain

In kind, 2017-2020, t

From 2017 to 2020, Spain maintained the 12th position globally in terms of production volume for not defatted cocoa paste.

Top producers of not defatted cocoa paste, 2017-2020

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

Following a two-year decline, Spain's production of not defatted cocoa paste increased in 2020. The country produced 77 730 tonnes that year, marking a 0.9% improvement over 2019. Over the 2017-2020 period, production fell by 21.4%, which translates to an annualized decrease of 7.7%. The lowest production level was recorded in 2019 at 77 070 tonnes, while the sharpest decline occurred in 2018 with a drop of 19.4%.

Annual dynamics of production in Spain in kind, 2017-2020, t

In value, 2017-2020, M $ US

After two years of decline, the value of not defatted cocoa paste production in Spain rose in 2020. Output was valued at 289.2 million US dollars, reflecting a moderate increase of 6.5% compared to the previous year. From 2017 to 2020, production value decreased by 20.2%, with a compound annual growth rate of -7.3%. The lowest value was recorded in 2019 at 271.5 million US dollars, and the largest decline took place in 2018 with a 24.3% drop.

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

Exports not defatted cocoa paste from Spain

Exports in kind, t

In 2020, Spain exported 6 240 tonnes of not defatted cocoa paste, which represents a 14.0% decrease from 2019. The minimum export volume was recorded in 2018 at 6 086 tonnes, while the maximum occurred in 2019 with 7 253 tonnes. The largest increase in exports was observed in 2019, rising by 19.2%.

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

Between 2017 and 2020, the main markets for Spain's exports of not defatted cocoa paste in kind were France, accounting for 38.0% of exports, South Korea with 8.1%, and Greece at 7.8%. Together, these three countries represented 53.9% of total export flows.

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

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

Exports in value, K $ US

In 2020, the value of not defatted cocoa paste exports from Spain amounted to 23 218 thousand US dollars, down by 9.1% compared to 2019. The lowest export value was recorded in 2018 at 20 953 thousand US dollars, while the highest was in 2019 at 25 555 thousand US dollars. The largest increase occurred in 2019 with a 22.0% rise.

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

From 2017 to 2020, France, South Korea, and Greece formed the primary cluster of markets for Spain's exports in value terms. France accounted for 37.5% of export value, South Korea for 8.3%, and Greece for 7.5%, collectively representing 53.3% of total export flows.

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

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

Imports not defatted cocoa paste to Spain

Imports in kind, t

After two years of growth, Spain's imports of not defatted cocoa paste declined in 2020. Imports stood at 12 047 tonnes, showing a robust decrease of 22.8% from the previous year. Over the 2017-2020 period, imports increased by 34.9%, with a compound annual growth rate of 10.5%. The highest import volume was recorded in 2019 at 15 599 tonnes, and the largest increase occurred that same year with a 57.4% surge.

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

Between 2017 and 2020, Spain's imports of not defatted cocoa paste in kind were primarily sourced from Ghana and the Netherlands. Together, these two countries accounted for 81.3% of total import flows, with other destinations playing a secondary role.

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

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

Imports in value, K $ US

Following two years of improvement, the value of not defatted cocoa paste imports into Spain fell in 2020. Spain imported approximately 42 507 thousand US dollars worth of not defatted cocoa paste that year, reflecting a robust reduction of 13.3% compared to 2019. From 2017 to 2020, import value increased by 47.9%, with a compound annual growth rate of 13.9%. The maximum value was recorded in 2019 at 49 001 thousand US dollars, and the largest increase occurred that year with a 64.3% rise.

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

From 2017 to 2020, Ghana, the Netherlands, and Côte d'Ivoire remained the principal suppliers of not defatted cocoa paste to Spain in value terms. Ghana accounted for 54.3% of import value, the Netherlands for 24.6%, and Côte d'Ivoire for 9.4%. Together, these three countries represented 88.3% of total imports in value terms.

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

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