In 2023, imports of cocoa butter, fat, and oil to India were slightly above 10 million kilograms. The forecast from 2024 to 2028 reflects steady growth, with anticipated imports rising from 11.023 million kilograms in 2024 to 12.869 million kilograms in 2028. This represents a consistent year-on-year increase of approximately 4%. The compound annual growth rate (CAGR) over these five forecast years is around 4.0%, indicating a stable upward trend.
Future trends to watch for:
- Potential policy changes in cocoa-producing countries impacting supply.
- Increasing domestic demand driven by the growing Indian confectionery and personal care industries.
- Fluctuations in global cocoa prices affecting import costs.
