Cocoa: paste, wholly or partly defatted

In 2024, cocoa: paste, wholly or partly defatted trade exhibited strong growth, with global flows reaching $1,121,766,566 and a three-year compound annual growth rate of +25.6% (five-year: +17.8%). The all-time peak of $1,121,766,566 was recorded in 2024.

Over the 30-year observation window (1995–2024), 55% of years recorded positive growth, indicating a mildly upward trajectory with periodic contractions. Trend momentum is strengthening (+18.9% acceleration).

The World Trade Flows Characterization classifies cocoa: paste, wholly or partly defatted as "One-way trade" in the medium price range price segment, providing additional context for market positioning and competitive dynamics.

The supply side is moderately concentrated (Herfindahl-Hirschman Index 0.165). The three largest exporters — Ivory Coast ($375.2M), Indonesia ($181.3M), and Ghana ($130.0M) — collectively dominate supply flows. The leading exporter has grown at +28.5% over the last three years.

On the demand side, importer concentration is diversified (HHI 0.130). The three largest import markets are Spain ($266.1M), Malaysia ($185.9M), and United States ($163.5M). The largest importing market sources from 19 different supplying countries.

Estimated substitution elasticity: -14.14. Buyers are highly price-sensitive and can switch between suppliers relatively easily.

The dominant trade corridor is Ivory Coast → Spain at $180.1M, representing 67.7% of the importer's total demand.

The volatility score for cocoa: paste, wholly or partly defatted is 21 out of 100, classified as low. Trade flows are relatively stable compared to other HS6 products, suggesting mature supply chains and predictable demand.

For market entrants, strong demand tailwinds create a favourable entry environment. A moderately concentrated market rewards differentiated positioning and strategic partner selection.

Data confidence is rated "High" based on reporting coverage and consistency across OECD member and partner countries.