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Report GCC - Cocoa Beans - Market Analysis, Forecast, Size, Trends and Insights for 499$
Report Update Nov 1, 2024

GCC - Cocoa Beans - Market Analysis, Forecast, Size, Trends and Insights

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GCC: Cocoa Bean Market 2024

Cocoa Bean Market Size in GCC

In 2022, after two years of growth, there was significant decline in the GCC cocoa bean market, when its value decreased by -23% to $X. Over the period under review, consumption, however, posted a mild expansion. The level of consumption peaked at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Cocoa Bean Production in GCC

In value terms, cocoa bean production contracted modestly to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 9.7%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

The United Arab Emirates (X tons) remains the largest cocoa bean producing country in GCC, comprising approx. 100% of total volume.

From 2012 to 2022, the average annual growth rate of volume in the United Arab Emirates totaled +1.0%.

Cocoa Bean Exports

Exports in GCC

In 2022, overseas shipments of cocoa beans increased by 56% to X tons for the first time since 2019, thus ending a two-year declining trend. In general, exports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 with an increase of 5,794%. Over the period under review, the exports attained the peak figure at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, cocoa bean exports skyrocketed to $X in 2022. Over the period under review, exports, however, showed a mild curtailment. The growth pace was the most rapid in 2015 when exports increased by 6,522%. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

The shipments of the one major exporters of cocoa beans, namely the United Arab Emirates, represented more than two-thirds of total export.

The United Arab Emirates experienced a relatively flat trend pattern with regard to volume of exports of cocoa beans. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) also remains the largest cocoa bean supplier in GCC.

From 2012 to 2022, the average annual growth rate of value in the United Arab Emirates totaled -1.6%.

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, falling by -20.8% against the previous year. Overall, the export price recorded a slight curtailment. The pace of growth was the most pronounced in 2021 when the export price increased by 47% against the previous year. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the rate of growth in terms of prices for the United Arab Emirates amounted to -1.3% per year.

Cocoa Bean Imports

Imports in GCC

In 2022, purchases abroad of cocoa beans decreased by -62% to X tons for the first time since 2017, thus ending a four-year rising trend. Over the period under review, imports, however, showed a slight expansion. The growth pace was the most rapid in 2021 when imports increased by 344% against the previous year. As a result, imports attained the peak of X tons, and then declined markedly in the following year.

In value terms, cocoa bean imports dropped remarkably to $X in 2022. In general, imports, however, enjoyed a tangible increase. The most prominent rate of growth was recorded in 2021 when imports increased by 130% against the previous year. As a result, imports reached the peak of $X, and then shrank notably in the following year.

Imports by Country

In 2022, the United Arab Emirates (X tons) was the major importer of cocoa beans, comprising 74% of total imports. It was distantly followed by Saudi Arabia (X tons), making up a 14% share of total imports. Kuwait (X tons), Oman (X tons) and Qatar (X tons) took a minor share of total imports.

From 2012 to 2022, average annual rates of growth with regard to cocoa bean imports into the United Arab Emirates stood at +2.9%. At the same time, Kuwait (+31.8%), Oman (+23.7%) and Saudi Arabia (+2.7%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing importer imported in GCC, with a CAGR of +31.8% from 2012-2022. By contrast, Qatar (-17.4%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Saudi Arabia, the United Arab Emirates, Kuwait and Oman increased by +14, +12, +4.2 and +3.6 percentage points, respectively.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported cocoa beans in GCC, comprising 72% of total imports. The second position in the ranking was held by Saudi Arabia ($X), with a 14% share of total imports. It was followed by Kuwait, with a 7.4% share.

From 2012 to 2022, the average annual growth rate of value in the United Arab Emirates amounted to +8.0%. In the other countries, the average annual rates were as follows: Saudi Arabia (+4.5% per year) and Kuwait (+38.4% per year).

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, growing by 91% against the previous year. Import price indicated a moderate increase from 2012 to 2022: its price increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cocoa bean import price decreased by -0.9% against 2020 indices. The level of import peaked at $X per ton in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Qatar ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (+5.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

This report provides an in-depth analysis of the cocoa bean market in GCC. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • FCL 661 - Cocoa beans

Country coverage:

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Production in GCC, split by region and country
  • Trade (exports and imports) in GCC
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. CONSUMPTION BY COUNTRY
    3. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. COUNTRIES WITH TOP YIELDS
    4. TOP EXPORTING COUNTRIES
    5. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE
    2. PRODUCTION BY COUNTRY
    3. HARVESTED AREA AND YIELD BY COUNTRY

  8. 8. IMPORTS

    The Largest Importers on The Market and How They Succeed

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Exporters on The Market and How They Succeed

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. 11. COUNTRY PROFILES

    The Largest Markets And Their Profiles

    This Chapter is Available Only for the Professional Edition PRO
    • Bahrain
    • Kuwait
    • Oman
    • Qatar
    • Saudi Arabia
    • United Arab Emirates

  12. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption, By Country, 2018–2023
    5. Production, In Physical Terms, By Country, 2012–2023
    6. Harvested Area, By Country, 2012-2023
    7. Yield, By Country, 2012-2023
    8. Imports, In Physical Terms, By Country, 2012–2023
    9. Imports, In Value Terms, By Country, 2012–2023
    10. Import Prices, By Country Of Destination, 2012–2023
    11. Exports, In Physical Terms, By Country, 2012–2023
    12. Exports, In Value Terms, By Country, 2012–2023
    13. Export Prices, By Country Of Origin, 2012–2023

  13. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Consumption, By Country, 2023
    4. Market Volume Forecast to 2030
    5. Market Value Forecast to 2030
    6. Products: Market Size And Growth, By Type
    7. Products: Average Per Capita Consumption, By Type
    8. Products: Exports And Growth, By Type
    9. Products: Export Prices And Growth, By Type
    10. Production Volume And Growth
    11. Yield And Growth
    12. Exports And Growth
    13. Export Prices And Growth
    14. Market Size And Growth
    15. Per Capita Consumption
    16. Imports And Growth
    17. Import Prices
    18. Production, In Physical Terms, 2012–2023
    19. Production, In Value Terms, 2012–2023
    20. Area Harvested, 2012–2023
    21. Yield, 2012–2023
    22. Production, By Country, 2023
    23. Production, In Physical Terms, By Country, 2012–2023
    24. Harvested Area, By Country, 2023
    25. Harvested Area, By Country, 2012-2023
    26. Yield, By Country, 2012-2023
    27. Imports, In Physical Terms, 2012–2023
    28. Imports, In Value Terms, 2012–2023
    29. Imports, In Physical Terms, By Country, 2023
    30. Imports, In Physical Terms, By Country, 2012–2023
    31. Imports, In Value Terms, By Country, 2012–2023
    32. Import Prices, By Country, 2012–2023
    33. Exports, In Physical Terms, 2012–2023
    34. Exports, In Value Terms, 2012–2023
    35. Exports, In Physical Terms, By Country, 2023
    36. Exports, In Physical Terms, By Country, 2012–2023
    37. Exports, In Value Terms, By Country, 2012–2023
    38. Export Prices, 2012–2023

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