LONG-TERM AND RECENT TRENDS IN THE COCOA AND CHOCOLATE INTERNATIONAL MARKET

Authors:
Santucci, Fabio Maria*, & Tiagni Wouakoue, Clairence

Abstract:
This study describes the long-term trends of cocoa production, in terms of areas, yields and total output. The structure of the international value chain is then described. The international cocoa market looks exactly like an old-style hourglass. On one side there are about 5 million small producers, in developing countries, and on the other side stay billions of final consumers, mostly in high-income countries. In between, very few global players, giant traders and processors, producing semi-finished and finished goods, marketed with several trademarks, accompanied by thousands of small traders, processors, and grocery producers. Eight countries represent 90 percent of the global cocoa output; six processors, in Europe and USA, control 70-75 percent of the processing; 10 brands cover about 70 percent of the final market. The world consumption of chocolate products is growing steadily, and it is now about 130 billion US$, with Switzerland first (8.8 kg per person per year). Some recent phenomena are then illustrated, concerning the new trends of the consumers’ behaviour, linked with health, environmental protection and social awareness. Forecasts underline the growing demand for high-quality products, single variety, geographical indications, organic and fair-trade. Most cross-national firms are beginning to adopt some Corporate Social Responsibility practices. The need for more sustainability of the sector, all along the value chain, was emphasized during the 4th World Cocoa Conference in 2018. More processing should take place in the cocoa-producing countries, to add value and to create employment, while trade barriers imposed by developed countries should be lowered or eliminated.

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