Italy: Cocoa Powder Market 2024

Cocoa Powder Market Size in Italy

In 2022, the Italian cocoa powder market increased by 7.6% to $X, rising for the second year in a row after two years of decline. In general, consumption, however, recorded a mild contraction. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Cocoa Powder Production in Italy

In value terms, cocoa powder production rose significantly to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a mild descent. The pace of growth appeared the most rapid in 2018 with an increase of 227% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Cocoa Powder Exports

Exports from Italy

In 2022, approx. X tons of cocoa powder (not sweetened) were exported from Italy; standing approx. at the previous year. Over the period under review, exports, however, recorded prominent growth. The pace of growth was the most pronounced in 2014 when exports increased by 84% against the previous year. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, cocoa powder exports dropped to $X in 2022. Overall, total exports indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +13.7% against 2020 indices. The pace of growth was the most pronounced in 2014 when exports increased by 55%. Over the period under review, the exports attained the maximum at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

France (X tons) was the main destination for cocoa powder exports from Italy, accounting for a 47% share of total exports. Moreover, cocoa powder exports to France exceeded the volume sent to the second major destination, Turkey (X tons), sixfold. Poland (X tons) ranked third in terms of total exports with a 6.6% share.

From 2012 to 2022, the average annual growth rate of volume to France totaled +46.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+12.5% per year) and Poland (+29.1% per year).

In value terms, France ($X) remains the key foreign market for cocoa powder (not sweetened) exports from Italy, comprising 36% of total exports. The second position in the ranking was held by Germany ($X), with a 7.5% share of total exports. It was followed by the UK, with a 6.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value to France stood at +32.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-1.4% per year) and the UK (-6.5% per year).

Export Prices by Country

In 2022, the average cocoa powder export price amounted to $X per ton, waning by -11.2% against the previous year. In general, the export price saw a abrupt slump. The most prominent rate of growth was recorded in 2021 an increase of 12% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Spain ($X per ton), while the average price for exports to Turkey ($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 the Netherlands (+0.5%), while the prices for the other major destinations experienced a decline.

Cocoa Powder Imports

Imports into Italy

For the third consecutive year, Italy recorded growth in supplies from abroad of cocoa powder (not sweetened), which increased by 4% to X tons in 2022. The total import volume increased at an average annual rate of +4.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2015 with an increase of 16%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, cocoa powder imports expanded markedly to $X in 2022. Overall, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when imports increased by 22% against the previous year. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

The Netherlands (X tons), Germany (X tons) and France (X tons) were the main suppliers of cocoa powder imports to Italy, together comprising 82% of total imports. Spain, Ghana and Belgium lagged somewhat behind, together comprising a further 17%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Ghana (with a CAGR of +144.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest cocoa powder suppliers to Italy were the Netherlands ($X), Germany ($X) and France ($X), together comprising 83% of total imports. Spain, Ghana and Belgium lagged somewhat behind, together accounting for a further 16%.

In terms of the main suppliers, Ghana, with a CAGR of +108.9%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average cocoa powder import price amounted to $X per ton, increasing by 1.8% against the previous year. In general, the import price, however, showed a perceptible descent. The growth pace was the most rapid in 2016 when the average import price increased by 22%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from France ($X per ton) and Belgium ($X per ton), while the price for Spain ($X per ton) and Ghana ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (-3.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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