In 2023, the import of cocoa paste not defatted to the UK stood at an estimated 15.5 million kilograms. From 2024 to 2028, the volume is projected to grow steadily from 15.745 to 16.851 million kilograms, indicating a consistent increase. Year-on-year variations are moderate, with increases approximately ranging from 1.8% to 1.7%, showcasing stability in demand. Over the five-year forecast period, the compound annual growth rate (CAGR) is estimated to be around 1.7%, reflecting a steady upward trend.
Future trends to watch for include:
- Potential impacts of changing trade policies post-Brexit on import volumes.
- Shifts in consumer preferences towards sustainable and ethically produced cocoa products.
- Technological advancements in the cocoa industry which might affect supply chains and import needs.