Canada: Cocoa Powder Market 2024

Cocoa Powder Market Size in Canada

The Canadian cocoa powder market surged to $X in 2022, growing by 20% against the previous year. In general, consumption saw a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Cocoa Powder Production in Canada

In value terms, cocoa powder production totaled $X in 2022 estimated in export price. Overall, production recorded a noticeable expansion. The pace of growth was the most pronounced in 2015 with an increase of 106% against the previous year. Over the period under review, production attained the maximum level at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Cocoa Powder Exports

Exports from Canada

In 2022, shipments abroad of cocoa powder (not sweetened) decreased by -8.3% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, exports, however, enjoyed a prominent increase. The growth pace was the most rapid in 2015 when exports increased by 200%. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, cocoa powder exports shrank dramatically to $X in 2022. Over the period under review, exports, however, saw strong growth. The most prominent rate of growth was recorded in 2015 when exports increased by 233%. The exports peaked at $X in 2021, and then contracted dramatically in the following year.

Exports by Country

Brazil (X tons), Turkey (X tons) and Australia (X tons) were the main destinations of cocoa powder exports from Canada, together accounting for 75% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Australia (with a CAGR of +289.2%), while the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X), Turkey ($X) and Mexico ($X) were the largest markets for cocoa powder exported from Canada worldwide, together comprising 72% of total exports. Australia and the United States lagged somewhat behind, together comprising a further 27%.

Australia, with a CAGR of +288.6%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average cocoa powder export price stood at $X per ton in 2022, with a decrease of -9.2% against the previous year. In general, the export price continues to indicate a abrupt setback. The most prominent rate of growth was recorded in 2019 an increase of 38%. 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 failed to regain momentum.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the United States ($X per ton) and Mexico ($X per ton), while the average price for exports to Australia ($X per ton) and Brazil ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Australia (-0.2%), while the prices for the other major destinations experienced a decline.

Cocoa Powder Imports

Imports into Canada

Cocoa powder imports into Canada expanded rapidly to X tons in 2022, growing by 7.2% on the year before. In general, total imports indicated a measured increase from 2012 to 2022: its volume increased at an average annual rate of +4.1% 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 +94.6% against 2017 indices. The pace of growth appeared the most rapid in 2018 when imports increased by 40% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, cocoa powder imports soared to $X in 2022. Over the period under review, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2016 when imports increased by 20% against the previous year. Over the period under review, imports reached the maximum in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

The United States (X tons), the Netherlands (X tons) and Malaysia (X tons) were the main suppliers of cocoa powder imports to Canada, together comprising 74% of total imports. Indonesia, France, Spain, Cote d'Ivoire, Germany and Brazil lagged somewhat behind, together comprising a further 22%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Spain (with a CAGR of +29.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest cocoa powder suppliers to Canada were the United States ($X), the Netherlands ($X) and Malaysia ($X), with a combined 75% share of total imports. Indonesia, France, Spain, Cote d'Ivoire, Germany and Brazil lagged somewhat behind, together accounting for a further 20%.

In terms of the main suppliers, Spain, with a CAGR of +19.4%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average cocoa powder import price stood at $X per ton in 2022, picking up by 8.4% against the previous year. Overall, the import price, however, saw a noticeable descent. The most prominent rate of growth was recorded in 2017 an increase of 28% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Brazil ($X per ton) and the United States ($X per ton), while the price for Spain ($X per ton) and Indonesia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (-2.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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