Kuwait: Market for Cocoa Powder (Containing Added Sugar) 2024

Market Size for Cocoa Powder (Containing Added Sugar) in Kuwait

The Kuwaiti cocoa powder with sugar market reached $X in 2021, picking up by 10% against the previous year. The market value increased at an average annual rate of +2.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market remained at a lower figure.

Production of Cocoa Powder (Containing Added Sugar) in Kuwait

In value terms, cocoa powder with sugar production rose slightly to $X in 2021 estimated in export price. Over the period under review, production saw a tangible increase. The growth pace was the most rapid in 2017 with an increase of 74%. Cocoa powder with sugar production peaked at $X in 2014; however, from 2015 to 2021, production failed to regain momentum.

Exports of Cocoa Powder (Containing Added Sugar)

Exports from Kuwait

In 2021, shipments abroad of cocoa powder (containing added sugar) was finally on the rise to reach X tons after three years of decline. Overall, exports, however, saw a abrupt downturn. The most prominent rate of growth was recorded in 2014 when exports increased by 784% against the previous year. As a result, the exports attained the peak of X tons. From 2015 to 2021, the growth of the exports remained at a lower figure.

In value terms, cocoa powder with sugar exports surged to $X in 2021. In general, exports posted a remarkable increase. The most prominent rate of growth was recorded in 2014 when exports increased by 674% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Saudi Arabia (X tons), Oman (X tons) and Jordan (X tons) were the main destinations of cocoa powder with sugar exports from Kuwait, together accounting for 65% of total exports. These countries were followed by the United Arab Emirates, Iran and Qatar, which together accounted for a further 34%.

From 2012 to 2021, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +56.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X) emerged as the key foreign market for cocoa powder (containing added sugar) exports from Kuwait, comprising 43% of total exports. The second position in the ranking was taken by Iran ($X), with a 19% share of total exports. It was followed by Oman, with a 17% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Saudi Arabia amounted to +61.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iran (+52.9% per year) and Oman (+52.4% per year).

Export Prices by Country

In 2021, the average cocoa powder with sugar export price amounted to $X per ton, rising by 7.4% against the previous year. Overall, the export price showed a resilient expansion. The most prominent rate of growth was recorded in 2020 an increase of 179% against the previous year. Over the period under review, the average export prices reached the maximum in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Iran ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Iran (+31.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Cocoa Powder (Containing Added Sugar)

Imports into Kuwait

In 2021, after four years of decline, there was significant growth in supplies from abroad of cocoa powder (containing added sugar), when their volume increased by 36% to X tons. Overall, imports, however, continue to indicate a slight reduction. The most prominent rate of growth was recorded in 2016 with an increase of 992% against the previous year. As a result, imports reached the peak of X tons. From 2017 to 2021, the growth of imports remained at a lower figure.

In value terms, cocoa powder with sugar imports skyrocketed to $X in 2021. In general, imports, however, showed a pronounced setback. The pace of growth appeared the most rapid in 2016 when imports increased by 870% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2021, imports remained at a lower figure.

Imports by Country

Russia (X tons), the Netherlands (X tons) and Saudi Arabia (X tons) were the main suppliers of cocoa powder with sugar imports to Kuwait, together comprising 73% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Russia (with a CAGR of +39.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Russia ($X) constituted the largest supplier of cocoa powder (containing added sugar) to Kuwait, comprising 44% of total imports. The second position in the ranking was held by the Netherlands ($X), with a 19% share of total imports. It was followed by Saudi Arabia, with a 14% share.

From 2012 to 2021, the average annual growth rate of value from Russia amounted to +35.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+15.9% per year) and Saudi Arabia (+6.0% per year).

Import Prices by Country

In 2021, the average cocoa powder with sugar import price amounted to $X per ton, dropping by -5.2% against the previous year. Over the period under review, the import price saw a slight shrinkage. The most prominent rate of growth was recorded in 2017 when the average import price increased by 54% against the previous year. The import price peaked at $X per ton in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Egypt ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+1.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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