Eastern Asia: Cocoa Paste Market 2024

Cocoa Paste Market Size in Eastern Asia

In 2021, after six years of growth, there was decline in the East Asian cocoa paste market, when its value decreased by -4.8% to $X. In general, consumption showed a relatively flat trend pattern. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Cocoa Paste Production in Eastern Asia

In value terms, cocoa paste production fell to $X in 2021 estimated in export price. Overall, production recorded a mild descent. The pace of growth appeared the most rapid in 2020 with an increase of 13%. The level of production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Cocoa Paste Exports

Exports in Eastern Asia

Cocoa paste exports fell sharply to X tons in 2021, reducing by -55.8% against 2020. In general, exports showed a abrupt shrinkage. The pace of growth appeared the most rapid in 2014 when exports increased by 281% against the previous year. The volume of export peaked at X tons in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, cocoa paste exports fell markedly to $X in 2021. Over the period under review, exports faced a abrupt decline. The most prominent rate of growth was recorded in 2014 when exports increased by 144% against the previous year. Over the period under review, the exports reached the maximum at $X in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

Exports by Country

In 2021, China (X tons) represented the major exporter of cocoa paste, achieving 85% of total exports. It was distantly followed by Japan (X tons), committing a 12% share of total exports. South Korea (X tons) held a relatively small share of total exports.

From 2012 to 2021, average annual rates of growth with regard to cocoa paste exports from China stood at -10.9%. Japan (-5.0%) and South Korea (-6.6%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Japan increased by +4.8 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest cocoa paste supplier in Eastern Asia, comprising 65% of total exports. The second position in the ranking was held by Japan ($X), with a 27% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in China totaled -18.3%. In the other countries, the average annual rates were as follows: Japan (-7.8% per year) and South Korea (-3.9% per year).

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per ton, jumping by 32% against the previous year. In general, the export price, however, continues to indicate a abrupt decrease. The pace of growth was the most pronounced in 2016 an increase of 61% against the previous year. Over the period under review, the export prices reached the maximum at $X per ton in 2012; however, from 2013 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 South Korea ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+2.9%), while the other leaders experienced a decline in the export price figures.

Cocoa Paste Imports

Imports in Eastern Asia

In 2021, after two years of decline, there was significant growth in overseas purchases of cocoa paste, when their volume increased by 20% to X tons. The total import volume increased at an average annual rate of +3.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, imports attained the maximum at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, cocoa paste imports soared to $X in 2021. The total import value increased at an average annual rate of +2.4% from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

China represented the key importer of cocoa paste in Eastern Asia, with the volume of imports recording X tons, which was approx. 55% of total imports in 2021. Japan (X tons) took a 34% share (based on physical terms) of total imports, which put it in second place, followed by South Korea (10%).

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Japan (with a CAGR of +5.1%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest cocoa paste importing markets in Eastern Asia were China ($X), Japan ($X) and South Korea ($X), with a combined 98% share of total imports.

Japan, with a CAGR of +4.4%, 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 mixed trends in the imports figures.

Import Prices by Country

In 2021, the import price in Eastern Asia amounted to $X per ton, increasing by 6.5% against the previous year. Over the period under review, the import price, however, showed a slight decrease. The growth pace was the most rapid in 2014 an increase of 7%. The level of import peaked at $X per ton in 2015; however, from 2016 to 2021, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was South Korea ($X per ton), while Japan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (-0.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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