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

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

The Asian cocoa powder with sugar market reached $X in 2021, leveling off at the previous year. In general, consumption continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of 6.7%. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Production of Cocoa Powder (Containing Added Sugar) in Asia

In value terms, cocoa powder with sugar production stood at $X in 2021 estimated in export price. In general, production recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the production volume increased by 9.4%. The level of production peaked at $X in 2019; afterwards, it flattened through to 2021.

Exports of Cocoa Powder (Containing Added Sugar)

Exports in Asia

In 2021, shipments abroad of cocoa powder (containing added sugar) decreased by -1.6% to X tons, falling for the second year in a row after three years of growth. The total export volume increased at an average annual rate of +4.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2014 with an increase of 28% against the previous year. The volume of export peaked at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, cocoa powder with sugar exports expanded modestly to $X in 2021. In general, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of 44%. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

In 2021, South Korea (X tons) represented the largest exporter of cocoa powder (containing added sugar), comprising 37% of total exports. Thailand (X tons) took a 20% share (based on physical terms) of total exports, which put it in second place, followed by Malaysia (15%), Indonesia (11%) and Singapore (11%). Vietnam (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key 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, the largest cocoa powder with sugar supplying countries in Asia were South Korea ($X), Malaysia ($X) and Thailand ($X), together accounting for 69% of total exports. Singapore, Indonesia and Vietnam lagged somewhat behind, together accounting for a further 18%.

In terms of the main exporting countries, Vietnam, with a CAGR of +52.5%, saw the highest growth rate of the value of exports, 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 Asia stood at $X per ton in 2021, with an increase of 4.3% against the previous year. Over the period under review, the export price, however, saw a perceptible reduction. The most prominent rate of growth was recorded in 2014 an increase of 13%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2021, the export prices failed to regain momentum.

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 Asia

In 2021, overseas purchases of cocoa powder (containing added sugar) decreased by -9.1% to X tons, falling for the second year in a row after two years of growth. In general, imports recorded a slight decline. The growth pace was the most rapid in 2015 when imports increased by 6%. 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 powder with sugar imports contracted to $X in 2021. Over the period under review, imports showed a noticeable downturn. The most prominent rate of growth was recorded in 2016 when imports increased by 8.4% against the previous year. As a result, imports attained the peak of $X. From 2017 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Japan dominates imports structure, resulting at X tons, which was near 57% of total imports in 2021. It was distantly followed by China (X tons), generating a 7.9% share of total imports. The following importers - South Korea (X tons), India (X tons), Indonesia (X tons), Malaysia (X tons), Thailand (X tons), Iraq (X tons), Singapore (X tons), the United Arab Emirates (X tons) and Hong Kong SAR (X tons) - together made up 24% of total imports.

Japan experienced a relatively flat trend pattern with regard to volume of imports of cocoa powder (containing added sugar). At the same time, India (+56.6%), Thailand (+19.2%), Iraq (+14.9%), Malaysia (+13.0%), China (+7.0%) and South Korea (+1.7%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing importer imported in Asia, with a CAGR of +56.6% from 2012-2021. By contrast, the United Arab Emirates (-2.6%), Hong Kong SAR (-8.2%), Indonesia (-10.0%) and Singapore (-18.6%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Japan, China, India, Thailand, Malaysia and Iraq increased by +9.2, +4.2, +3.2, +2.1, +2 and +1.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) constitutes the largest market for imported cocoa powder (containing added sugar) in Asia, comprising 27% of total imports. The second position in the ranking was held by China ($X), with a 9.7% share of total imports. It was followed by South Korea, with a 7% share.

In Japan, cocoa powder with sugar imports declined by an average annual rate of -4.0% over the period from 2012-2021. In the other countries, the average annual rates were as follows: China (+0.5% per year) and South Korea (+1.8% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2021, remaining constant against the previous year. In general, the import price, however, showed a slight slump. The most prominent rate of growth was recorded in 2016 an increase of 13%. As a result, import price attained the peak level of $X per ton. From 2017 to 2021, the import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while Japan ($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

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