Unsweetened cocoa powder market in Spain

Earlier Report Observations

The Spanish market for unsweetened cocoa powder saw its volume grow from 35.5 thousand tons in 2018 to 46.6 thousand tons in 2023. This expansion was primarily driven by a sustained consumer shift toward healthier products, reflected in rising demand for sugar-free options. The trend was reinforced by continuous innovation and the entry of new premium offerings, such as the launch of Olam Cocoa for Professionals in 2020 and Lindt's Excellence dark chocolate range with 100% pure cocoa in 2021, which catered to both professional and health-conscious consumers.

In value terms, the market increased more sharply, from $85.9 million in 2018 to $145.2 million in 2023. This steeper rise was fueled by a growing preference for organic, vegan, and premium cocoa powders, which command higher prices. From mid-2022 onward, a significant surge in global cocoa prices directly increased production costs, further elevating the market's monetary value even during periods of stable physical volume.

After reaching a peak in 2023, both volume and value experienced a slight contraction in 2024. This coincided with persistently high cocoa prices and the impending implementation of the EU Deforestation Regulation (EUDR), which mandates greater traceability and sustainability in the supply chain. These factors are encouraging greater investment in certified and ethically sourced products, reshaping the market landscape.

Production unsweetened cocoa powder in Spain

In value, 2017-2020, M $ US

After a two-year decline, Spain's unsweetened cocoa powder production increased in value terms. In 2020, output was valued at 228.3 million US dollars, marking a 6.5% rise compared to 2019. Over the period from 2017 to 2020, production decreased by 5.5%, with a compound annual growth rate of 1.9%. The lowest value was recorded in 2019 at 214.3 million US dollars, while the largest decline occurred in 2018 at 8.8%.

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

In kind, 2017-2020, K t

Following a two-year rise, Spain's unsweetened cocoa powder production declined in volume. In 2020, 104.6 thousand tonnes were produced, representing a 6.0% decrease from 2019. The peak was reached in 2019 with 111.3 thousand tonnes, and the largest increase was recorded in 2018 at 5.1%.

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

Exports unsweetened cocoa powder from Spain

Exports in kind, t

After a two-year increase, Spain's unsweetened cocoa powder exports fell in volume. In 2020, exports totaled 77 157 tonnes, down 6.4% from the previous year. The highest level was in 2019 at 82 408 tonnes, with the largest increase occurring in 2018 at 6.0%.

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

From 2017 to 2020, Spain's unsweetened cocoa powder exports were distributed across a wide range of partner countries. The United States accounted for 14.2% of exports in volume, Algeria for 6.9%, and Russia for 6.5%, together making up just 27.6% of total 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, M $ US

After a two-year decrease, Spain's unsweetened cocoa powder export value increased. In 2020, exports were valued at 166.0 million US dollars, up 7.5% from 2019. Between 2017 and 2020, exports decreased by 2.3%, equating to an annualized rate of 0.8%. The lowest value was in 2019 at 154.4 million US dollars, and the largest decline was in 2018 at 7.3%.

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

From 2017 to 2020, Spain's unsweetened cocoa powder was exported to many countries, with the largest destinations—the United States, Algeria, and Russia—together representing only 27.2% of total exports in value terms.

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

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

Imports unsweetened cocoa powder to Spain

Imports in kind, t

Spain's unsweetened cocoa powder import volume increased for the second consecutive year. In 2020, imports reached 10 634 tonnes, an 8.8% rise year-over-year. Over the period from 2017 to 2020, imports grew by 13%, with a compound annual growth rate of 4.2%. The lowest volume was in 2018 at 8 638 tonnes, which also saw the largest decline at 8.2%, while the largest increase occurred in 2019 at 13.2%.

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

From 2017 to 2020, the Netherlands contributed 42.1% of Spain's unsweetened cocoa powder imports in volume, Germany 36.0%, and France 8.3%, together accounting for 86.4% of total flows.

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, M $ US

Foreign supplies of unsweetened cocoa powder to Spain increased in value for the second consecutive year. In 2020, imports reached 29.4 million US dollars, up 17.1% from the prior year. Between 2017 and 2020, imports rose by 17.9%, equating to an annualized rate of 5.6%. The lowest value was in 2018 at 23.0 million US dollars, which also experienced the largest decline at 7.7%.

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

From 2017 to 2020, the Netherlands and Germany were the main sources for Spain's unsweetened cocoa powder imports in value terms, jointly accounting for 81.4% of total flows, with other partners making up the remainder.

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

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