Forecast: Import of Cocoa and Cocoa Preparations to Viet Nam

The import of Cocoa and Cocoa Preparations to Viet Nam has shown a consistent increase from 2013 to 2023, starting at 32.702 million USD in 2013 and reaching 64.161 million USD in 2023. The import value has nearly doubled over this period. Year-on-year, the largest increases were noted in 2016 with 22.08% and 2017 with 15.23%. The growth rate has since slowed, registering 3.98% growth from 2022 to 2023. The compound annual growth rate (CAGR) over the last five years now stands at 4.55%.

Future trends to watch for:

• The forecast growth from 2024 to 2028 points to a much slower CAGR of 2.61%.
• While the total growth rate over the next five years is expected to be 13.76%, indicating a moderating trend in imports.
• Potential market saturation or shifts in local production could impact future import volumes.