Iran: Cocoa Powder Market 2024

Cocoa Powder Market Size in Iran

After two years of growth, the Iranian cocoa powder market decreased by -1.8% to $X in 2022. Over the period under review, consumption, however, showed a pronounced reduction. Cocoa powder consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Cocoa Powder Production in Iran

In value terms, cocoa powder production contracted to $X in 2022 estimated in export price. Over the period under review, production saw a mild shrinkage. The most prominent rate of growth was recorded in 2013 when the production volume increased by 17%. Cocoa powder production peaked at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

Cocoa Powder Exports

Exports from Iran

In 2022, shipments abroad of cocoa powder (not sweetened) decreased by -15.6% to X tons for the first time since 2013, thus ending a eight-year rising trend. In general, exports, however, posted a strong increase. The most prominent rate of growth was recorded in 2014 with an increase of 71%. Over the period under review, the exports hit record highs at X tons in 2021, and then reduced sharply in the following year.

In value terms, cocoa powder exports expanded modestly to $X in 2022. Overall, exports, however, saw a remarkable increase. The pace of growth appeared the most rapid in 2014 when exports increased by 70% against the previous year. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

Kazakhstan (X tons) was the main destination for cocoa powder exports from Iran, with a 78% share of total exports. Moreover, cocoa powder exports to Kazakhstan exceeded the volume sent to the second major destination, Armenia (X kg), fivefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Kazakhstan was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Armenia (+112.2% per year) and Azerbaijan (0.0% per year).

In value terms, the largest markets for cocoa powder exported from Iran were Armenia ($X), Kazakhstan ($X) and Azerbaijan ($X), together comprising 96% of total exports.

In terms of the main countries of destination, Armenia, with a CAGR of +157.7%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average cocoa powder export price amounted to $X per ton, picking up by 23% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Armenia ($X per ton), while the average price for exports to Kazakhstan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Armenia (+21.5%), while the prices for the other major destinations experienced a decline.

Cocoa Powder Imports

Imports into Iran

In 2022, imports of cocoa powder (not sweetened) into Iran totaled X tons, surging by 4.7% on 2021 figures. In general, imports recorded a strong expansion. The pace of growth was the most pronounced in 2017 when imports increased by 35% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, cocoa powder imports fell modestly to $X in 2022. Over the period under review, total imports indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +2.7% 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 +131.7% against 2014 indices. The growth pace was the most rapid in 2015 with an increase of 27%. Imports peaked at $X in 2021, and then fell slightly in the following year.

Imports by Country

In 2022, Turkey (X tons) constituted the largest supplier of cocoa powder to Iran, with a 62% share of total imports. Moreover, cocoa powder imports from Turkey exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), more than tenfold. The third position in this ranking was held by Germany (X tons), with a 3.5% share.

From 2012 to 2022, the average annual growth rate of volume from Turkey totaled +12.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+8.8% per year) and Germany (+24.2% per year).

In value terms, Turkey ($X) constituted the largest supplier of cocoa powder (not sweetened) to Iran, comprising 63% of total imports. The second position in the ranking was held by the Netherlands ($X), with a 4.7% share of total imports. It was followed by Germany, with a 3.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Turkey amounted to +5.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+2.4% per year) and Germany (+16.3% per year).

Import Prices by Country

In 2022, the average cocoa powder import price amounted to $X per ton, waning by -5.4% against the previous year. Overall, the import price saw a abrupt slump. The most prominent rate of growth was recorded in 2016 an increase of 21%. 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 countries with the highest prices were France ($X per ton) and Turkey ($X per ton), while the price for Spain ($X per ton) and the Netherlands ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (-4.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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