EU: Cocoa Bean Market Overview 2021

Cocoa Bean Market Size in the EU

The EU cocoa bean market expanded rapidly to $X in 2020, growing by X% against the previous year. The total consumption indicated a resilient expansion from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, consumption increased by +X% against 2013 indices. The pace of growth appeared the most rapid in 2016 when the market value increased by X% against the previous year. Over the period under review, the market hit record highs in 2020 and is expected to retain growth in years to come.

Cocoa Bean Production in the EU

In value terms, cocoa bean production skyrocketed to $X in 2020 estimated in export prices. Overall, production showed a significant expansion. The most prominent rate of growth was recorded in 2017 with an increase of X% year-to-year. Over the period under review, production reached the maximum level in 2020 and is expected to retain growth in the immediate term.

Belgium (X tonnes) constituted the country with the largest volume of cocoa bean production, comprising approx. X% of total volume. It was followed by Estonia (X tonnes), with a X% share of total production.

From 2007 to 2020, the average annual growth rate of volume in Belgium amounted to +X%.

Production by Country in the EU

Belgium (X tonnes) remains the largest cocoa bean producing country in the European Union, accounting for X% of total volume. It was followed by Estonia (X tonnes), with a X% share of total production.

From 2007 to 2020, the average annual rate of growth in terms of volume in Belgium totaled +X%.

Cocoa Bean Exports

Exports in the EU

For the third year in a row, the European Union recorded decline in shipments abroad of cocoa beans, which decreased by -X% to X tonnes in 2020. Overall, exports recorded a perceptible decline. The growth pace was the most rapid in 2009 when exports increased by X% y-o-y. The volume of export peaked at X tonnes in 2014; however, from 2015 to 2020, exports stood at a somewhat lower figure.

In value terms, cocoa bean exports declined markedly to $X in 2020. Over the period under review, exports saw a noticeable slump. The growth pace was the most rapid in 2009 when exports increased by X% y-o-y. Over the period under review, exports attained the peak figure at $X in 2014; however, from 2015 to 2020, exports failed to regain the momentum.

Exports by Country

The Netherlands represented the largest exporting country with an export of around X tonnes, which resulted at X% of total exports. It was distantly followed by Belgium (X tonnes), Estonia (X tonnes) and Germany (X tonnes), together making up a X% share of total exports.

The Netherlands was also the fastest-growing in terms of the cocoa beans exports, with a CAGR of +X% from 2007 to 2020. at the same time, Germany (+X%) displayed positive paces of growth. Estonia experienced a relatively flat trend pattern. by contrast, Belgium (-X%) illustrated a downward trend over the same period. While the share of the Netherlands (+X p.p.), Germany (+X p.p.) and Estonia (+X p.p.) increased significantly in terms of the total exports from 2007-2020, the share of Belgium (-X p.p.) displayed negative dynamics.

In value terms, the Netherlands ($X) emerged as the largest cocoa bean supplier in the European Union, comprising X% of total exports. The second position in the ranking was occupied by Belgium ($X), with a X% share of total exports. It was followed by Germany, with a X% share.

In the Netherlands, cocoa bean exports expanded at an average annual rate of +X% over the period from 2007-2020. The remaining exporting countries recorded the following average annual rates of exports growth: Belgium (-X% per year) and Germany (+X% per year).

Export Prices by Country

The cocoa bean export price in the European Union stood at $X per tonne in 2020, reducing by -X% against the previous year. Over the period from 2007 to 2020, it increased at an average annual rate of +X%. The pace of growth was the most pronounced in 2008 when the export price increased by X% year-to-year. Over the period under review, export prices attained the maximum at $X per tonne in 2010; however, from 2011 to 2020, export prices failed to regain the momentum.

Average prices varied noticeably amongst the major exporting countries. in 2020, major exporting countries recorded the following prices: in Germany ($X per tonne) and the Netherlands ($X per tonne), while Belgium ($X per tonne) and Estonia ($X per tonne) were amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Germany, while the other leaders experienced more modest paces of growth.

Cocoa Bean Imports

Imports in the EU

In 2020, approx. X tonnes of cocoa beans were imported in the European Union; waning by -X% compared with 2019 figures. Over the period under review, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2011 when imports increased by X% year-to-year. The volume of import peaked at X tonnes in 2018; however, from 2019 to 2020, imports stood at a somewhat lower figure.

In value terms, cocoa bean imports declined to $X in 2020. Total imports indicated noticeable growth from 2007 to 2020: its value decreased at an average annual rate of -X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, imports decreased by -X% against 2016 indices. The most prominent rate of growth was recorded in 2011 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2016; however, from 2017 to 2020, imports remained at a lower figure.

Imports by Country

In 2020, the Netherlands (X tonnes) represented the largest importer of cocoa beans, making up X% of total imports. Germany (X tonnes) occupied a X% share (based on tonnes) of total imports, which put it in second place, followed by France (X%), Italy (X%), Spain (X%) and Belgium (X%). Austria (X tonnes) took a little share of total imports.

Imports into the Netherlands increased at an average annual rate of +X% from 2007 to 2020. at the same time, Austria (+X%) and Italy (+X%) displayed positive paces of growth. Moreover, Austria emerged as the fastest-growing importer imported in the European Union, with a CAGR of +X% from 2007-2020. Spain and France experienced a relatively flat trend pattern. by contrast, Germany (-X%) and Belgium (-X%) illustrated a downward trend over the same period. While the share of the Netherlands (+X p.p.) and Italy (+X p.p.) increased significantly in terms of the total imports from 2007-2020, the share of Germany (-X p.p.) and Belgium (-X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Netherlands ($X) constitutes the largest market for imported cocoa beans in the European Union, comprising X% of total imports. The second position in the ranking was occupied by Germany ($X), with a X% share of total imports. It was followed by France, with a X% share.

In the Netherlands, cocoa bean imports expanded at an average annual rate of +X% over the period from 2007-2020. The remaining importing countries recorded the following average annual rates of imports growth: Germany (+X% per year) and France (+X% per year).

Import Prices by Country

In 2020, the cocoa bean import price in the European Union amounted to $X per tonne, picking up by X% against the previous year. Over the period from 2007 to 2020, it increased at an average annual rate of +X%. The growth pace was the most rapid in 2008 an increase of X% year-to-year. The level of import peaked at $X per tonne in 2010; however, from 2011 to 2020, import prices remained at a lower figure.

Average prices varied noticeably amongst the major importing countries. in 2020, major importing countries recorded the following prices: in Italy ($X per tonne) and France ($X per tonne), while the Netherlands ($X per tonne) and Spain ($X per tonne) were amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by the Netherlands, while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform