The import of cocoa butter, fat, and oil to China has shown a dynamic trend over the past decade. In 2023, the imports stood at $96.047 million. From 2013 to 2023, import values increased despite some fluctuations. Key variations include a peak year-on-year increase of 73.18% in 2014 followed by declines in 2015 and 2016. Recent years saw steady growth, with 2023 marking a 3.23% increase over 2022. The compound annual growth rate (CAGR) over the last five years (2018-2023) was 3.63%, indicative of moderate growth in the market.
Looking forward, the forecast indicates continued growth with imports expected to reach $110.21 million by 2028. The forecasted five-year CAGR is 2.17%, signifying consistent demand. Expect an overall growth rate of 11.33% over the next five years, signaling sustained market interest in cocoa butter, fat, and oil imports.
Future trends to watch for:
- Potential impacts of global supply chain disruptions on import volumes.
- Changes in China's domestic production capabilities.
- Shifts in consumer demand for cocoa-based products.
- Potential trade policy adjustments affecting import tariffs and regulations.
- Technological advancements in cocoa farming and processing impacting global supply.
