Cocoa Butter Trade Overview
Global Trade and Growth
In 2023, cocoa butter ranked as the 490th most traded product worldwide, with a total trade value of $5.96 billion. This represents a 12.7% growth from 2022, when trade was valued at $5.29 billion. Despite its relatively small share of global trade (0.026%), cocoa butter plays a crucial role in the food and cosmetics industries, making it a highly sought-after commodity.
Exports: Leading Producers
The Netherlands ($1.74B), Côte d'Ivoire ($715M), Indonesia ($650M), Malaysia ($621M), and Germany ($447M) were the top exporters of cocoa butter in 2023. The dominance of these countries highlights the importance of both cocoa-producing nations (such as Côte d'Ivoire and Indonesia) and processing hubs (like the Netherlands and Germany) in the global supply chain.
Imports: Key Consumers
The largest importers of cocoa butter were Germany ($853M), Belgium ($638M), the United States ($574M), the Netherlands ($505M), and France ($441M). This indicates that Europe and North America are major consumers, driven by high demand from the chocolate and confectionery industries.
Product Complexity and Market Influence
Cocoa butter ranks 933rd in the Product Complexity Index (PCI), indicating that while it is a valuable commodity, its production and processing involve relatively low technological complexity compared to other traded goods. However, its importance in industries such as food, cosmetics, and pharmaceuticals ensure consistent global demand.
Conclusion
Cocoa butter plays a significant role in international trade, with steady growth fueled by demand from chocolate manufacturers and beauty product industries. The global market is shaped by a mix of raw material-producing countries and processing hubs, emphasizing the need for strong trade relationships and sustainable sourcing practices to support this essential commodity.
Source: https://oec.world/
