Asia-Pacific: Cocoa Paste Market 2024

Cocoa Paste Market Size in Asia-Pacific

The Asia-Pacific cocoa paste market dropped slightly to $X in 2021, standing approx. at the previous year. Overall, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2020, and then reduced in the following year.

Cocoa Paste Production in Asia-Pacific

In value terms, cocoa paste production declined modestly to $X in 2021 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the production volume increased by 5.8% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Cocoa Paste Exports

Exports in Asia-Pacific

In 2021, shipments abroad of cocoa paste decreased by -4.4% to X tons, falling for the sixth consecutive year after two years of growth. In general, exports saw a mild decline. The pace of growth appeared the most rapid in 2014 with an increase of 22% against the previous year. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, cocoa paste exports skyrocketed to $X in 2021. Overall, exports continue to indicate a perceptible curtailment. 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

Indonesia was the main exporter of cocoa paste in Asia-Pacific, with the volume of exports recording X tons, which was near 55% of total exports in 2021. It was distantly followed by Malaysia (X tons) and Singapore (X tons), together generating a 42% share of total exports. China (X tons) held a minor 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, Indonesia ($X), Malaysia ($X) and Singapore ($X) were the countries with the highest levels of exports in 2021, with a combined 97% share of total exports.

Malaysia, with a CAGR of -1.7%, saw the highest growth rate of 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

The export price in Asia-Pacific stood at $X per ton in 2021, jumping by 25% against the previous year. Overall, the export price, however, showed a pronounced downturn. Over the period under review, the export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

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-Pacific

In 2021, approx. X tons of cocoa paste were imported in Asia-Pacific; with an increase of 25% on the year before. The total import volume increased at an average annual rate of +4.6% 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 2013 with an increase of 32% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, cocoa paste imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +2.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, imports reached the maximum at $X in 2015; however, from 2016 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Malaysia (X tons), distantly followed by China (X tons), Australia (X tons), Singapore (X tons), Japan (X tons) and Indonesia (X tons) represented the largest importers of cocoa paste, together creating 89% of total imports. India (X tons) held 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 Indonesia (with a CAGR of +14.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest cocoa paste importing markets in Asia-Pacific were China ($X), Australia ($X) and Malaysia ($X), with a combined 57% share of total imports. These countries were followed by Singapore, Japan, Indonesia and India, which together accounted for a further 34%.

Indonesia, with a CAGR of +5.5%, recorded 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-Pacific amounted to $X per ton, picking up by 5.8% against the previous year. Overall, the import price, however, continues to indicate a pronounced curtailment. The growth pace was the most rapid in 2020 when the import price increased by 15%. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, 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 Australia ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+1.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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