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

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

In 2021, the ASEAN cocoa powder with sugar market was finally on the rise to reach $X for the first time since 2017, thus ending a three-year declining trend. Over the period under review, consumption showed a noticeable downturn. The most prominent rate of growth was recorded in 2017 with an increase of 9.7%. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Production of Cocoa Powder (Containing Added Sugar) in ASEAN

In value terms, cocoa powder with sugar production rose modestly to $X in 2021 estimated in export price. Overall, production, however, showed a pronounced contraction. The growth pace was the most rapid in 2017 when the production volume increased by 7.5%. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Exports of Cocoa Powder (Containing Added Sugar)

Exports in ASEAN

In 2021, exports of cocoa powder (containing added sugar) in ASEAN expanded to X tons, surging by 1.7% compared with 2020 figures. Total exports indicated a resilient increase from 2012 to 2021: its volume increased at an average annual rate of +5.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +62.6% against 2017 indices. The pace of growth appeared the most rapid in 2014 with an increase of 32% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to continue growth in years to come.

In value terms, cocoa powder with sugar exports rose remarkably to $X in 2021. Over the period under review, exports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when exports increased by 38% against the previous year. As a result, the exports attained the peak of $X. From 2020 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

In 2021, Thailand (X tons), Malaysia (X tons), Indonesia (X tons) and Singapore (X tons) was the major exporter of cocoa powder (containing added sugar) in ASEAN, making up 95% of total export. It was distantly followed by Vietnam (X tons), comprising a 5.3% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Vietnam (with a CAGR of +71.5%), while the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X), Thailand ($X) and Singapore ($X) were the countries with the highest levels of exports in 2021, with a combined 86% share of total exports. Indonesia and Vietnam lagged somewhat behind, together accounting for a further 14%.

Vietnam, with a CAGR of +52.5%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2021, with an increase of 3.7% against the previous year. Over the period under review, the export price, however, saw a pronounced setback. The most prominent rate of growth was recorded in 2016 when the export price increased by 6% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2013; however, from 2014 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 Malaysia ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+0.7%), while the other leaders experienced a decline in the export price figures.

Imports of Cocoa Powder (Containing Added Sugar)

Imports in ASEAN

In 2021, supplies from abroad of cocoa powder (containing added sugar) decreased by -16.7% to X tons, falling for the second consecutive year after three years of growth. Overall, imports continue to indicate a abrupt slump. The growth pace was the most rapid in 2018 with an increase of 26%. Over the period under review, imports reached the peak figure at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, cocoa powder with sugar imports shrank dramatically to $X in 2021. In general, imports continue to indicate a mild reduction. The growth pace was the most rapid in 2013 with an increase of 38% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Indonesia (X tons), Malaysia (X tons), Thailand (X tons) and Singapore (X tons) represented the largest importer of cocoa powder (containing added sugar) in ASEAN, comprising 79% of total import. Lao People's Democratic Republic (X tons) held a 9.3% share (based on physical terms) of total imports, which put it in second place, followed by the Philippines (5.3%). Vietnam (X tons) took a little share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Vietnam (with a CAGR of +19.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest cocoa powder with sugar importing markets in ASEAN were Thailand ($X), Malaysia ($X) and Indonesia ($X), with a combined 64% share of total imports. Singapore, Lao People's Democratic Republic, Vietnam and the Philippines lagged somewhat behind, together comprising a further 32%.

Vietnam, with a CAGR of +16.2%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in ASEAN amounted to $X per ton, approximately mirroring the previous year. Import price indicated a resilient expansion from 2012 to 2021: its price increased at an average annual rate of +6.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, cocoa powder with sugar import price decreased by -13.9% against 2016 indices. The pace of growth appeared the most rapid in 2016 an increase of 59% against the previous year. As a result, import price attained the peak level of $X per ton. From 2017 to 2021, the import prices failed to regain momentum.

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 Thailand ($X per ton), while Lao People's Democratic Republic ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+9.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform