Report World - Cocoa Beans - Market Analysis, Forecast, Size, Trends and Insights for 499$
Latest Report Update: Jan 13, 2023

World - Cocoa Beans - Market Analysis, Forecast, Size, Trends and Insights

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Global Cocoa Bean Market 2023

Cocoa Bean Market Size

The global cocoa bean market rose notably to $X in 2021, growing by 5.5% against the previous year. The market value increased at an average annual rate of +2.2% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. Global consumption peaked in 2021 and is likely to continue growth in years to come.

Cocoa Bean Production

In value terms, cocoa bean production dropped to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.3% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2014 when the production volume increased by 21%. Global production peaked at $X in 2020, and then declined slightly in the following year.

Cote d'Ivoire (X tons) remains the largest cocoa bean producing country worldwide, accounting for 37% of total volume. Moreover, cocoa bean production in Cote d'Ivoire exceeded the figures recorded by the second-largest producer, Ghana (X tons), threefold. Indonesia (X tons) ranked third in terms of total production with a 13% share.

In Cote d'Ivoire, cocoa bean production expanded at an average annual rate of +4.5% over the period from 2012-2021. The remaining producing countries recorded the following average annual rates of production growth: Ghana (-1.0% per year) and Indonesia (+0.2% per year).

The global average cocoa bean yield rose significantly to X kg per ha in 2021, with an increase of 6.2% against the previous year's figure. Over the period under review, the yield continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 7.6% against the previous year. As a result, the yield reached the peak level of X kg per ha. From 2019 to 2021, the growth of the average cocoa bean yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The global cocoa bean harvested area reduced slightly to X ha in 2021, flattening at 2020 figures. The harvested area increased at an average annual rate of +1.8% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The growth pace was the most rapid in 2017 with an increase of 10%. The global harvested area peaked at X ha in 2020, and then fell modestly in the following year.

Cocoa Bean Exports

Exports

In 2021, shipments abroad of cocoa beans increased by 9.3% to X tons for the first time since 2018, thus ending a two-year declining trend. The total export volume increased at an average annual rate of +3.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 18% against the previous year. Over the period under review, the global exports hit record highs in 2021 and are likely to see steady growth in the immediate term.

In value terms, cocoa bean exports rose rapidly to $X in 2021. Overall, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 22% against the previous year. The global exports peaked at $X in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, Cote d'Ivoire (X tons) was the main exporter of cocoa beans, generating 37% of total exports. Ghana (X tons) took the second position in the ranking, followed by Nigeria (X tons), Ecuador (X tons), Cameroon (X tons), the Netherlands (X tons) and Belgium (X tons). All these countries together held approx. 49% share of total exports.

Exports from Cote d'Ivoire increased at an average annual rate of +4.0% from 2012 to 2021. At the same time, Ecuador (+9.4%), Belgium (+7.0%), Nigeria (+6.4%), the Netherlands (+5.8%) and Cameroon (+3.6%) displayed positive paces of growth. Moreover, Ecuador emerged as the fastest-growing exporter exported in the world, with a CAGR of +9.4% from 2012-2021. By contrast, Ghana (-1.0%) illustrated a downward trend over the same period. While the share of Ecuador (+3.5 p.p.), Cote d'Ivoire (+2.8 p.p.), Nigeria (+2.3 p.p.) and Belgium (+1.5 p.p.) increased significantly in terms of the global exports from 2012-2021, the share of Ghana (-6.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Cote d'Ivoire ($X) remains the largest cocoa bean supplier worldwide, comprising 39% of global exports. The second position in the ranking was taken by Ghana ($X), with a 16% share of global exports. It was followed by Ecuador, with an 8% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Cote d'Ivoire amounted to +6.1%. In the other countries, the average annual rates were as follows: Ghana (-2.4% per year) and Ecuador (+10.0% per year).

Export Prices by Country

The average cocoa bean export price stood at $X per ton in 2021, with an increase of 2.3% against the previous year. In general, the export price, however, continues to indicate a perceptible contraction. The growth pace was the most rapid in 2020 an increase of 9.9% against the previous year. The global export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Ghana ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+2.0%), while the other global leaders experienced more modest paces of growth.

Cocoa Bean Imports

Imports

In 2021, global cocoa bean imports rose sharply to X tons, picking up by 9.1% against the previous year. The total import volume increased at an average annual rate of +2.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 when imports increased by 16% against the previous year. Over the period under review, global imports attained the maximum in 2021 and are likely to see gradual growth in the immediate term.

In value terms, cocoa bean imports rose remarkably to $X in 2021. The total import value increased at an average annual rate of +3.0% from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 with an increase of 20%. Global imports peaked in 2021 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2021, the Netherlands (X tons), distantly followed by Malaysia (X tons), the United States (X tons), Germany (X tons), Belgium (X tons) and Indonesia (X tons) were the major importers of cocoa beans, together committing 69% of total imports. France (X tons), Canada (X tons), Turkey (X tons), Italy (X tons), Spain (X tons), Singapore (X tons) and the UK (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Indonesia (with a CAGR of +30.0%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the largest cocoa bean importing markets worldwide were the Netherlands ($X), the United States ($X) and Germany ($X), with a combined 42% share of global imports. These countries were followed by Malaysia, Belgium, Indonesia, France, Italy, Turkey, Canada, Spain, Singapore and the UK, which together accounted for a further 46%.

Among the main importing countries, Indonesia, with a CAGR of +28.9%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average cocoa bean import price amounted to $X per ton, growing by 2.5% against the previous year. Overall, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2014 an increase of 16%. Over the period under review, average import prices hit record highs at $X per ton in 2016; however, from 2017 to 2021, import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Italy ($X per ton) and the UK ($X per ton), while Indonesia ($X per ton) and Canada ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (+0.9%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

Base Year Historical Period Forecast Period Units
2022 2012-2022 2023-2030 US$, Tons

Frequently Asked Questions (FAQ) :

What are the largest markets for cocoa beans in the world?
+
The countries with the highest volumes of consumption in 2021 were Indonesia, Cote d'Ivoire and the Netherlands, with a combined 38% share of global consumption. The United States, Germany, Malaysia, Brazil, Ghana, Nigeria, France, Canada, Belgium and Turkey lagged somewhat behind, together comprising a further 43%.
What are the largest producers of cocoa beans in the world?
+
Cote d'Ivoire constituted the country with the largest volume of cocoa bean production, comprising approx. 37% of total volume. Moreover, cocoa bean production in Cote d'Ivoire exceeded the figures recorded by the second-largest producer, Ghana, threefold. Indonesia ranked third in terms of total production with a 13% share.
What are the leading suppliers of cocoa beans in the world?
+
In value terms, Cote d'Ivoire remains the largest cocoa bean supplier worldwide, comprising 39% of global exports. The second position in the ranking was taken by Ghana, with a 16% share of global exports. It was followed by Ecuador, with an 8% share.
What are the leading importers of cocoa beans in the world?
+
In value terms, the largest cocoa bean importing markets worldwide were the Netherlands, the United States and Germany, with a combined 42% share of global imports. These countries were followed by Malaysia, Belgium, Indonesia, France, Italy, Turkey, Canada, Spain, Singapore and the UK, which together accounted for a further 46%.
What is the average export price for cocoa beans in the world?
+
In 2021, the average cocoa bean export price amounted to $2,623 per ton, surging by 2.3% against the previous year.
What is the average import price for cocoa beans in the world?
+
The average cocoa bean import price stood at $2,753 per ton in 2021, rising by 2.5% against the previous year.

This report provides an in-depth analysis of the global cocoa bean market. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.


Product coverage:
• FCL 661 - Cocoa beans

Data coverage:
• Global market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Global production, split by region and country
• Global trade (exports and imports)
• Export and import prices
• Market trends, drivers and restraints
• Key market players and their profiles

Reasons to buy this report:
• Take advantage of the latest data
• Find deeper insights into current market developments
• Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
REPORT DESCRIPTION
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
CONSUMPTION BY COUNTRY
3.3
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business

4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
COUNTRIES WITH TOP YIELDS
5.4
TOP EXPORTING COUNTRIES
5.5
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. GLOBAL PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION VOLUME AND VALUE
7.2
PRODUCTION BY COUNTRY
7.3
HARVESTED AREA AND YIELD BY COUNTRY
8. GLOBAL IMPORTS

The Largest Importers on The Market and How They Succeed

8.1
IMPORTS FROM 2012–2022
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. GLOBAL EXPORTS

The Largest Exporters on The Market and How They Succeed

9.1
EXPORTS FROM 2012–2022
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

11. COUNTRY PROFILES

The Largest Markets And Their Profiles

United States
China
Japan
Germany
United Kingdom
France
Brazil
Italy
Russian Federation
India
Canada
Australia
Republic of Korea
Spain
Mexico
Indonesia
Netherlands
Turkey
Saudi Arabia
Switzerland
Sweden
Nigeria
Poland
Belgium
Argentina
Norway
Austria
Thailand
United Arab Emirates
Colombia
Denmark
South Africa
Malaysia
Israel
Singapore
Egypt
Philippines
Finland
Chile
Ireland
Pakistan
Greece
Portugal
Kazakhstan
Algeria
Czech Republic
Qatar
Peru
Romania
Vietnam
LIST OF TABLES
Table 1:
Key Findings In 2022
Table 2:
Market Volume, In Physical Terms, 2012–2022
Table 3:
Market Value, 2012–2022
Table 4:
Per Capita Consumption, By Country, 2018–2022
Table 5:
Production, In Physical Terms, By Country, 2012–2022
Table 6:
Harvested Area, By Country, 2007-2022
Table 7:
Yield, By Country, 2007-2022
Table 8:
Imports, In Physical Terms, By Country, 2012–2022
Table 9:
Imports, In Value Terms, By Country, 2012–2022
Table 10:
Import Prices, By Country Of Destination, 2012–2022
Table 11:
Exports, In Physical Terms, By Country, 2012–2022
Table 12:
Exports, In Value Terms, By Country, 2012–2022
Table 13:
Export Prices, By Country Of Origin, 2012–2022
Table 14:
Producer Prices, By Major Producing Country, 2022
Table 15:
Producer Prices Index - Annual Data (2004-2006=100), By Major Producing Country
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2012–2022
Figure 2:
Market Value, 2012–2022
Figure 3:
Consumption, By Country, 2022
Figure 4:
Market Forecast To 2030
Figure 5:
Products: Market Size And Growth, By Type
Figure 6:
Products: Average Per Capita Consumption, By Type
Figure 7:
Products: Exports And Growth, By Type
Figure 8:
Products: Export Prices And Growth, By Type
Figure 9:
Production Volume And Growth
Figure 10:
Yield And Growth
Figure 11:
Exports And Growth
Figure 12:
Export Prices And Growth
Figure 13:
Market Size And Growth
Figure 14:
Per Capita Consumption
Figure 15:
Imports And Growth
Figure 16:
Import Prices
Figure 17:
Production, In Physical Terms, 2012–2022
Figure 18:
Production, In Value Terms, 2012–2022
Figure 19:
Area Harvested, 2012–2022
Figure 20:
Yield, 2012–2022
Figure 21:
Production, By Country, 2022
Figure 22:
Production, In Physical Terms, By Country, 2012–2022
Figure 23:
Harvested Area, By Country, 2022
Figure 24:
Harvested Area, By Country, 2007-2022
Figure 25:
Yield, By Country, 2007-2022
Figure 26:
Imports, In Physical Terms, 2012–2022
Figure 27:
Imports, In Value Terms, 2012–2022
Figure 28:
Imports, In Physical Terms, By Country, 2022
Figure 29:
Imports, In Physical Terms, By Country, 2012–2022
Figure 30:
Imports, In Value Terms, By Country, 2012–2022
Figure 31:
Import Prices, By Country, 2012–2022
Figure 32:
Exports, In Physical Terms, 2012–2022
Figure 33:
Exports, In Value Terms, 2012–2022
Figure 34:
Exports, In Physical Terms, By Country, 2022
Figure 35:
Exports, In Physical Terms, By Country, 2012–2022
Figure 36:
Exports, In Value Terms, By Country, 2012–2022
Figure 37:
Export Prices, 2012–2022
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