Eastern Asia: Market for Cocoa Powder (Containing Added Sugar) 2024

Market Size for Cocoa Powder (Containing Added Sugar) in Eastern Asia

The East Asian cocoa powder with sugar market amounted to $X in 2021, therefore, remained relatively stable against the previous year. Overall, consumption continues to indicate a relatively flat trend pattern. The level of consumption peaked at $X in 2019; afterwards, it flattened through to 2021.

Production of Cocoa Powder (Containing Added Sugar) in Eastern Asia

In value terms, cocoa powder with sugar production declined slightly to $X in 2021 estimated in export price. Overall, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the production volume increased by 16%. The level of production peaked at $X in 2020, and then fell modestly in the following year.

Exports of Cocoa Powder (Containing Added Sugar)

Exports in Eastern Asia

In 2021, overseas shipments of cocoa powder (containing added sugar) decreased by -7.7% to X tons for the first time since 2018, thus ending a two-year rising trend. The total export volume increased at an average annual rate of +3.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2015 when exports increased by 20%. Over the period under review, the exports hit record highs at X tons in 2020, and then shrank in the following year.

In value terms, cocoa powder with sugar exports reduced to $X in 2021. The total export value increased at an average annual rate of +2.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 with an increase of 13%. The level of export peaked at $X in 2020, and then reduced slightly in the following year.

Exports by Country

South Korea dominates exports structure, resulting at X tons, which was approx. 96% of total exports in 2021. China (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to cocoa powder with sugar exports from South Korea stood at +2.9%. At the same time, China (+7.7%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +7.7% from 2012-2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, South Korea ($X) remains the largest cocoa powder with sugar supplier in Eastern Asia, comprising 82% of total exports. The second position in the ranking was taken by China ($X), with a 10% share of total exports.

From 2012 to 2021, the average annual growth rate of value in South Korea amounted to +1.5%.

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2021, picking up by 4.8% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 6.2%. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, 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 China ($X per ton), while South Korea totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+2.8%).

Imports of Cocoa Powder (Containing Added Sugar)

Imports in Eastern Asia

In 2021, purchases abroad of cocoa powder (containing added sugar) decreased by -7% to X tons, falling for the second consecutive year after three years of growth. Over the period under review, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 with an increase of 18% against the previous year. As a result, imports attained the peak of X tons. From 2020 to 2021, the growth of imports failed to regain momentum.

In value terms, cocoa powder with sugar imports dropped modestly to $X in 2021. Overall, imports showed a noticeable downturn. The most prominent rate of growth was recorded in 2018 when imports increased by 11% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

Japan represented the major importing country with an import of about X tons, which resulted at 80% of total imports. It was distantly followed by China (X tons) and South Korea (X tons), together comprising a 17% share of total imports. Hong Kong SAR (X tons) followed a long way behind the leaders.

Japan experienced a relatively flat trend pattern with regard to volume of imports of cocoa powder (containing added sugar). At the same time, China (+7.0%) and South Korea (+1.7%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +7.0% from 2012-2021. By contrast, Hong Kong SAR (-8.2%) illustrated a downward trend over the same period. While the share of China (+4.7 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Japan (-2.2 p.p.) and Hong Kong SAR (-2.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) constitutes the largest market for imported cocoa powder (containing added sugar) in Eastern Asia, comprising 54% of total imports. The second position in the ranking was taken by China ($X), with a 20% share of total imports. It was followed by South Korea, with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Japan stood at -4.0%. The remaining importing countries recorded the following average annual rates of imports growth: China (+0.5% per year) and South Korea (+1.8% per year).

Import Prices by Country

In 2021, the import price in Eastern Asia amounted to $X per ton, rising by 5.8% against the previous year. Over the period under review, the import price, however, continues to indicate a pronounced descent. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Hong Kong SAR ($X per ton), while Japan ($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 (+0.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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