The market for cocoa - Germany

1.1 Introduction

There are many products marketed in the cocoa market. These include cocoa butter, cocoa powder and finished cocoa products such as chocolate. The main cocoa producers in the world are Ivory Coast, Ghana and Indonesia. Cocoa prices are strongly influenced by weather conditions.

Global annual production of cocoa beans averages 5 million tons. West African countries account for about 70% of global production, while South America and Southeast Asia each account for 17% and 10%, respectively. Demand for cocoa comes mainly from industrialized countries, particularly Europe and North America. The growth rate (CAGR) of the cocoa market varies, but is estimated between 3% and 5%.

The cocoa market in Germany is growing steadily (CAGR of about 3%). The average chocolate consumption per capita is 12 kg per year. Germany is the second largest importer of cocoa beans in the world, with a market share of 17% in 2021 according to UN Comtrade. There is a preference for high quality chocolate and fair trade products. The processing of cocoa into finished products is a significant activity in Germany, with many companies specializing in this sector, such as:

• Ritter Sport
• Milka
• Lindt

Recently, sustainability labels, such as fair trade and organic certification, have been in demand among German consumers. Companies in the sector are striving to offer diverse cocoa products as well as reduced-calorie or vegan options through innovation. The implementation of technology and cryptographic processes, particularly via blockchain, is trending to better ensure the traceability of cocoa beans that have often traveled around the world.