Africa: Market for Cocoa Powder (Containing Added Sugar) 2024

Market Size for Cocoa Powder (Containing Added Sugar) in Africa

In 2021, after two years of decline, there was significant growth in the African cocoa powder with sugar market, when its value increased by 7.5% to $X. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Production of Cocoa Powder (Containing Added Sugar) in Africa

In value terms, cocoa powder with sugar production expanded remarkably to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the production volume increased by 15% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Exports of Cocoa Powder (Containing Added Sugar)

Exports in Africa

In 2021, exports of cocoa powder (containing added sugar) in Africa declined to X tons, dropping by -10.3% against the previous year's figure. Overall, exports continue to indicate a drastic downturn. The growth pace was the most rapid in 2015 when exports increased by 125% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, cocoa powder with sugar exports contracted to $X in 2021. In general, exports saw a deep reduction. The most prominent rate of growth was recorded in 2015 with an increase of 74% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Ghana was the key exporter of cocoa powder (containing added sugar) in Africa, with the volume of exports recording X tons, which was near 54% of total exports in 2021. Egypt (X tons) took the second position in the ranking, followed by South Africa (X tons), Nigeria (X tons) and Swaziland (X tons). All these countries together took approx. 40% share of total exports. Tunisia (X tons) and Cote d'Ivoire (X tons) followed a long way behind the leaders.

Ghana was also the fastest-growing in terms of the cocoa powder (containing added sugar) exports, with a CAGR of +64.4% from 2012 to 2021. At the same time, Nigeria (+3.2%) and Tunisia (+2.8%) displayed positive paces of growth. South Africa experienced a relatively flat trend pattern. By contrast, Egypt (-5.2%), Swaziland (-17.3%) and Cote d'Ivoire (-34.9%) illustrated a downward trend over the same period. While the share of Ghana (+53 p.p.), South Africa (+4.8 p.p.), Nigeria (+2.8 p.p.), Egypt (+1.6 p.p.) and Tunisia (+1.6 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Swaziland (-10.1 p.p.) and Cote d'Ivoire (-54 p.p.) displayed negative dynamics.

In value terms, Ghana ($X), South Africa ($X) and Egypt ($X) constituted the countries with the highest levels of exports in 2021, with a combined 89% share of total exports.

Ghana, with a CAGR of +74.0%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in Africa stood at $X per ton in 2021, growing by 4.7% against the previous year. Overall, the export price, however, showed a mild slump. The pace of growth was the most pronounced in 2017 an increase of 26% against the previous year. Over the period under review, the export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was South Africa ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Africa (+8.6%), while the other leaders experienced more modest paces of growth.

Imports of Cocoa Powder (Containing Added Sugar)

Imports in Africa

In 2021, approx. X tons of cocoa powder (containing added sugar) were imported in Africa; stabilizing at 2020 figures. Over the period under review, imports, however, posted a strong expansion. The most prominent rate of growth was recorded in 2020 with an increase of 56%. As a result, imports reached the peak of X tons, leveling off in the following year.

In value terms, cocoa powder with sugar imports totaled $X in 2021. In general, imports, however, saw a prominent increase. The growth pace was the most rapid in 2020 when imports increased by 44% against the previous year. The level of import peaked in 2021 and is expected to retain growth in the immediate term.

Imports by Country

In 2021, Nigeria (X tons) represented the main importer of cocoa powder (containing added sugar), committing 42% of total imports. South Africa (X tons) held a 14% share (based on physical terms) of total imports, which put it in second place, followed by Togo (8.5%) and Egypt (6.1%). Morocco (X tons), Libya (X tons), Botswana (X tons), Kenya (X tons) and Mauritius (X tons) followed a long way behind the leaders.

Nigeria was also the fastest-growing in terms of the cocoa powder (containing added sugar) imports, with a CAGR of +76.4% from 2012 to 2021. At the same time, Kenya (+50.5%), Egypt (+29.1%), Mauritius (+28.0%), Morocco (+20.0%), Botswana (+4.2%) and Libya (+3.6%) displayed positive paces of growth. By contrast, Togo (-2.0%) and South Africa (-5.5%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Nigeria, Egypt, Morocco, Kenya and Mauritius increased by +41, +5.1, +2.8, +2.3 and +1.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported cocoa powder (containing added sugar) in Africa, comprising 38% of total imports. The second position in the ranking was held by South Africa ($X), with a 15% share of total imports. It was followed by Egypt, with an 8% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Nigeria stood at +84.9%. In the other countries, the average annual rates were as follows: South Africa (-3.7% per year) and Egypt (+27.6% per year).

Import Prices by Country

The import price in Africa stood at $X per ton in 2021, picking up by 14% against the previous year. Over the period under review, the import price recorded modest growth. The most prominent rate of growth was recorded in 2017 when the import price increased by 43%. Over the period under review, import prices reached the maximum in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Kenya ($X per ton), while Togo ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Togo (+6.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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