Asia-Pacific: Cocoa Powder Market 2024

Cocoa Powder Market Size in Asia-Pacific

The Asia-Pacific cocoa powder market expanded rapidly to $X in 2022, growing by 5.3% against the previous year. In general, consumption, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 9%. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Cocoa Powder Production in Asia-Pacific

In value terms, cocoa powder production stood at $X in 2022 estimated in export price. Over the period under review, production saw a perceptible contraction. The most prominent rate of growth was recorded in 2016 when the production volume increased by 12% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Cocoa Powder Exports

Exports in Asia-Pacific

In 2022, after four years of growth, there was significant decline in shipments abroad of cocoa powder (not sweetened), when their volume decreased by -6.4% to X tons. Total exports indicated a temperate increase from 2012 to 2022: its volume increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +50.8% against 2012 indices. The pace of growth was the most pronounced in 2016 when exports increased by 18%. Over the period under review, the exports attained the peak figure at X tons in 2021, and then shrank in the following year.

In value terms, cocoa powder exports stood at $X in 2022. Over the period under review, exports showed a slight reduction. The most prominent rate of growth was recorded in 2016 when exports increased by 26%. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Malaysia (X tons) and Indonesia (X tons) represented the major exporters of cocoa powder (not sweetened) in 2022, resulting at approx. 48% and 33% of total exports, respectively. It was distantly followed by Singapore (X tons), creating a 14% share of total exports. China (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of +8.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest cocoa powder supplying countries in Asia-Pacific were Malaysia ($X), Indonesia ($X) and Singapore ($X), together comprising 97% of total exports.

Indonesia, with a CAGR of +5.0%, saw the highest growth rate of the value of exports, in terms of 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 2022, the export price in Asia-Pacific amounted to $X per ton, growing by 7.5% against the previous year. Overall, the export price, however, saw a drastic downturn. The most prominent rate of growth was recorded in 2021 an increase of 12% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, 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 2022, the most notable rate of growth in terms of prices was attained by Indonesia (-3.2%), while the other leaders experienced a decline in the export price figures.

Cocoa Powder Imports

Imports in Asia-Pacific

In 2022, the amount of cocoa powder (not sweetened) imported in Asia-Pacific was estimated at X tons, surging by 9.9% on the previous year. Total imports indicated a prominent expansion from 2012 to 2022: its volume increased at an average annual rate of +7.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +109.7% against 2013 indices. The growth pace was the most rapid in 2014 with an increase of 17% against the previous year. Over the period under review, imports reached the maximum in 2022 and are likely to see steady growth in years to come.

In value terms, cocoa powder imports soared to $X in 2022. Total imports indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +64.7% against 2018 indices. The growth pace was the most rapid in 2016 with an increase of 28%. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in years to come.

Imports by Country

China (X tons) and India (X tons) represented roughly 36% of total imports in 2022. Indonesia (X tons) took a 10% share (based on physical terms) of total imports, which put it in second place, followed by the Philippines (9.8%), Thailand (8.6%), Japan (8.1%), Australia (5.9%) and Malaysia (4.7%).

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by India (with a CAGR of +19.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest cocoa powder importing markets in Asia-Pacific were China ($X), India ($X) and Indonesia ($X), with a combined 46% share of total imports.

India, with a CAGR of +15.5%, recorded the highest growth rate of the value of imports, in terms of 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 2022, the import price in Asia-Pacific amounted to $X per ton, growing by 11% against the previous year. In general, the import price, however, recorded a pronounced slump. The most prominent rate of growth was recorded in 2021 an increase of 15%. Over the period under review, import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (-2.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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