Analysis and Studies - Products analysis
The Cocoa Beans Market in Europe: an overview
October 20th 2023
Europe stands as the primary global importer of cocoa beans, accounting for a substantial 56% of the world's cocoa bean imports. In contrast, North America and Latin America collectively contribute approximately 17% to the global cocoa bean import market, with Asia representing around 26%. The European continent is home to a multitude of chocolate manufacturers, both large and small, which work with various cocoa qualities.
On a global scale, the lion's share of the market for final chocolate products is dominated by seven multinational companies. In 2020, the European Union (excluding the United Kingdom) generated an estimated 3.6 million tonnes of final chocolate products, excluding industrial chocolate. It's noteworthy that actual production volumes were higher in 2020, but specific data at the country level remains confidential. Leading the pack in chocolate production as a consumer product is Germany, followed by Italy and Belgium.
Europe heavily relies on West Africa as the primary global source for cocoa beans. Imports from this region primarily comprise bulk cocoa of the Forastero variety. Key suppliers include Ivory Coast, providing 828 thousand tonnes in 2021, Ghana with 231 thousand tonnes, Nigeria with nearly 201 thousand tonnes, and Cameroon with 179 thousand tonnes.
In 2021, the leading exporters of Cocoa Beans were Cote d'Ivoire ($3.8 billion), Ghana ($1.51 billion), Ecuador ($838 million), Nigeria ($779 million), and Cameroon ($563 million). Cocoa supplies from these nations are vital for producing standard-quality chocolates and are utilized by the majority of large companies on a global scale. The bulk market particularly suits exporters capable of delivering large volumes at standardized product qualities.
It's important to note that certification, primarily from organizations like Rainforest Alliance/UTZ, is increasingly gaining significance in this market. This is due to stricter sustainability standards set by European manufacturers and retailers, making it a prerequisite for market entry.,
The European cocoa market has witnessed a notable surge in the demand for cocoa beans that hold both Organic and Fairtrade certifications. The sales of cocoa beans meeting both these stringent standards have seen a remarkable upswing. Between 2016 and 2020, the global market experienced a substantial yearly growth rate of 13.5% for cocoa beans that boasted dual certifications, culminating in an impressive total of nearly 39 thousand tonnes by the year 2020. This trend underlines the increasing consumer preference for products that not only adhere to organic production methods but also ensure fair treatment and compensation for cocoa producers, reflecting a growing awareness of ethical and sustainable consumption in the cocoa industry.
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