Australia: Cocoa Powder Market 2024

Cocoa Powder Market Size in Australia

The Australian cocoa powder market surged to $X in 2022, increasing by 15% against the previous year. In general, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Cocoa Powder Production in Australia

In value terms, cocoa powder production totaled $X in 2022 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 with an increase of 53%. As a result, production reached the peak level of $X. From 2017 to 2022, production growth failed to regain momentum.

Cocoa Powder Exports

Exports from Australia

In 2022, after five years of decline, there was significant growth in overseas shipments of cocoa powder (not sweetened), when their volume increased by 134% to X tons. Overall, exports, however, continue to indicate a slight setback. The pace of growth was the most pronounced in 2016 with an increase of 159%. As a result, the exports reached the peak of X tons. From 2017 to 2022, the growth of the exports remained at a lower figure.

In value terms, cocoa powder exports surged to $X in 2022. In general, exports, however, continue to indicate a pronounced contraction. The pace of growth appeared the most rapid in 2016 when exports increased by 273%. As a result, the exports reached the peak of $X. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

New Zealand (X tons) was the main destination for cocoa powder exports from Australia, with a 66% share of total exports. Moreover, cocoa powder exports to New Zealand exceeded the volume sent to the second major destination, Papua New Guinea (X tons), threefold. The third position in this ranking was taken by Singapore (X tons), with a 3.8% share.

From 2012 to 2022, the average annual growth rate of volume to New Zealand totaled -3.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Papua New Guinea (+21.8% per year) and Singapore (+56.2% per year).

In value terms, New Zealand ($X) remains the key foreign market for cocoa powder (not sweetened) exports from Australia, comprising 59% of total exports. The second position in the ranking was held by Papua New Guinea ($X), with a 21% share of total exports. It was followed by Singapore, with a 6.5% share.

From 2012 to 2022, the average annual growth rate of value to New Zealand stood at -6.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Papua New Guinea (+16.0% per year) and Singapore (+64.4% per year).

Export Prices by Country

In 2022, the average cocoa powder export price amounted to $X per ton, falling by -15.1% against the previous year. In general, the export price continues to indicate a slight curtailment. The growth pace was the most rapid in 2021 an increase of 68% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to New Zealand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+5.4%), while the prices for the other major destinations experienced mixed trend patterns.

Cocoa Powder Imports

Imports into Australia

In 2022, purchases abroad of cocoa powder (not sweetened) was finally on the rise to reach X tons after two years of decline. The total import volume increased at an average annual rate of +2.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2015 with an increase of 20% against the previous year. Over the period under review, imports attained the maximum at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, cocoa powder imports surged to $X in 2022. Overall, imports, however, recorded a mild reduction. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Malaysia (X tons), Indonesia (X tons) and Singapore (X tons) were the main suppliers of cocoa powder imports to Australia, together accounting for 72% of total imports. The Netherlands, Canada, Germany, Peru and Italy lagged somewhat behind, together comprising a further 22%.

From 2012 to 2022, the biggest increases were recorded for Canada (with a CAGR of +104.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X), Indonesia ($X) and the Netherlands ($X) were the largest cocoa powder suppliers to Australia, together comprising 69% of total imports. Singapore, Canada, Germany, Peru and Italy lagged somewhat behind, together comprising a further 23%.

Canada, with a CAGR of +98.0%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average cocoa powder import price amounted to $X per ton, rising by 6.9% against the previous year. In general, the import price, however, recorded a pronounced setback. The most prominent rate of growth was recorded in 2016 when the average import price increased by 15% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+5.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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