Eastern Asia: Cocoa Powder Market 2024

Cocoa Powder Market Size in Eastern Asia

The East Asian cocoa powder market totaled $X in 2022, approximately reflecting the previous year. Over the period under review, consumption, however, saw a slight reduction. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Cocoa Powder Production in Eastern Asia

In value terms, cocoa powder production dropped modestly to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a perceptible setback. The pace of growth was the most pronounced in 2016 when the production volume increased by 31% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Cocoa Powder Exports

Exports in Eastern Asia

In 2022, overseas shipments of cocoa powder (not sweetened) decreased by -9.9% to X tons, falling for the second year in a row after two years of growth. Overall, exports recorded a noticeable curtailment. The pace of growth was the most pronounced in 2019 with an increase of 29% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, cocoa powder exports declined slightly to $X in 2022. In general, exports continue to indicate a deep downturn. The growth pace was the most rapid in 2016 with an increase of 46% against the previous year. 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

In 2022, China (X tons) was the key exporter of cocoa powder (not sweetened) in Eastern Asia, generating 97% of total export.

China was also the fastest-growing in terms of the cocoa powder (not sweetened) exports, with a CAGR of -3.8% from 2012 to 2022. From 2012 to 2022, the share of China decreased by -1.8 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) also remains the largest cocoa powder supplier in Eastern Asia.

From 2012 to 2022, the average annual growth rate of value in China totaled -8.2%.

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, surging by 9.1% against the previous year. Overall, the export price, however, recorded a noticeable decrease. The pace of growth was the most pronounced in 2016 an increase of 23%. Over the period under review, the export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for China.

From 2012 to 2022, the rate of growth in terms of prices for China amounted to -4.6% per year.

Cocoa Powder Imports

Imports in Eastern Asia

In 2022, overseas purchases of cocoa powder (not sweetened) increased by 2.5% to X tons, rising for the second year in a row after two years of decline. Total imports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of +5.2% 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 +25.1% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 22%. The volume of import peaked in 2022 and is likely to continue growth in the near future.

In value terms, cocoa powder imports rose remarkably to $X in 2022. Over the period under review, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 35% against the previous year. The level of import peaked in 2022 and is likely to continue growth in the immediate term.

Imports by Country

China represented the main importing country with an import of about X tons, which amounted to 57% of total imports. Japan (X tons) held the second position in the ranking, distantly followed by South Korea (X tons) and Taiwan (Chinese) (X tons). All these countries together took near 42% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to cocoa powder imports into China stood at +6.4%. At the same time, Taiwan (Chinese) (+7.6%), South Korea (+3.8%) and Japan (+3.3%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +7.6% from 2012-2022. China (+6.3 p.p.) significantly strengthened its position in terms of the total imports, while South Korea and Japan saw its share reduced by -1.7% and -5.2% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest cocoa powder importing markets in Eastern Asia were China ($X), Japan ($X) and South Korea ($X), with a combined 94% share of total imports. These countries were followed by Taiwan (Chinese), which accounted for a further 5.2%.

Among the main importing countries, Taiwan (Chinese), with a CAGR of +2.6%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, rising by 11% against the previous year. Over the period under review, the import price, however, showed a perceptible setback. The pace of growth was the most pronounced in 2016 when the import price increased by 19% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major importing countries. In 2022, major importing countries recorded the following prices: in South Korea ($X per ton) and Japan ($X per ton), while China ($X per ton) and Taiwan (Chinese) ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (-3.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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