Asia: Cocoa Paste Market 2024

Cocoa Paste Market Size in Asia

The Asian cocoa paste market fell slightly to $X in 2021, waning by -2.1% against the previous year. Overall, consumption, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the market value increased by 5.5% against the previous year. The level of consumption peaked at $X in 2020, and then declined in the following year.

Cocoa Paste Production in Asia

In value terms, cocoa paste production contracted modestly to $X in 2021 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when the production volume increased by 7.1% against the previous year. The level of production peaked at $X in 2020, and then shrank slightly in the following year.

Cocoa Paste Exports

Exports in Asia

In 2021, shipments abroad of cocoa paste decreased by -5% to X tons, falling for the sixth consecutive year after two years of growth. Over the period under review, exports recorded a mild reduction. The most prominent rate of growth was recorded in 2014 with an increase of 21%. The volume of export peaked at X tons in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, cocoa paste exports soared to $X in 2021. Overall, exports continue to indicate a perceptible slump. Over the period under review, the exports attained the peak figure at $X in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

Exports by Country

In 2021, Indonesia (X tons) was the largest exporter of cocoa paste, constituting 54% of total exports. Malaysia (X tons) took a 35% share (based on physical terms) of total exports, which put it in second place, followed by Singapore (6.8%). China (X tons) held a relatively small 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 Indonesia (with a CAGR of -0.3%), while the other leaders experienced a decline in the exports figures.

In value terms, the largest cocoa paste supplying countries in Asia were Indonesia ($X), Malaysia ($X) and Singapore ($X), with a combined 96% share of total exports.

Malaysia, with a CAGR of -1.7%, recorded 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 a decline in the exports figures.

Export Prices by Country

In 2021, the export price in Asia amounted to $X per ton, growing by 24% against the previous year. In general, the export price, however, continues to indicate a perceptible curtailment. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while China ($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 (-1.1%), while the other leaders experienced a decline in the export price figures.

Cocoa Paste Imports

Imports in Asia

In 2021, the amount of cocoa paste imported in Asia skyrocketed to X tons, picking up by 18% compared with 2020 figures. The total import volume increased at an average annual rate of +5.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 when imports increased by 42%. The volume of import peaked at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, cocoa paste imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +3.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of import peaked at $X in 2015; however, from 2016 to 2021, imports remained at a lower figure.

Imports by Country

The countries with the highest levels of cocoa paste imports in 2021 were Malaysia (X tons), Turkey (X tons), China (X tons), Singapore (X tons) and Japan (X tons), together recording 77% of total import. It was distantly followed by Indonesia (X tons), generating a 5.2% share of total imports. The following importers - Israel (X tons) and India (X tons) - each finished at a 6% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Turkey (with a CAGR of +14.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), China ($X) and Malaysia ($X) appeared to be the countries with the highest levels of imports in 2021, together accounting for 52% of total imports.

Turkey, with a CAGR of +16.9%, 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 Asia amounted to $X per ton, with an increase of 6.3% against the previous year. Overall, the import price, however, saw a mild setback. The pace of growth was the most pronounced in 2020 when the import price increased by 13% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, 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 China ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+1.9%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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