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

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

After two years of decline, the MENA's cocoa powder with sugar market increased by 7.2% to $X in 2021. In general, consumption, however, saw a relatively flat trend pattern. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Production of Cocoa Powder (Containing Added Sugar) in MENA

In value terms, cocoa powder with sugar production expanded significantly to $X in 2021 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 20%. The level of production peaked at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Exports of Cocoa Powder (Containing Added Sugar)

Exports in MENA

After three years of decline, overseas shipments of cocoa powder (containing added sugar) increased by 75% to X tons in 2021. Over the period under review, exports, however, recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2014 when exports increased by 89%. The volume of export peaked at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, cocoa powder with sugar exports skyrocketed to $X in 2021. Overall, exports, however, continue to indicate a noticeable decrease. The pace of growth was the most pronounced in 2014 when exports increased by 215%. The level of export peaked at $X in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

In 2021, Egypt (X tons) represented the largest exporter of cocoa powder (containing added sugar), making up 45% of total exports. Saudi Arabia (X tons) held the second position in the ranking, distantly followed by Jordan (X tons), Tunisia (X tons), Syrian Arab Republic (X tons), Turkey (X tons) and the United Arab Emirates (X tons). All these countries together took near 52% share of total exports.

Exports from Egypt decreased at an average annual rate of -5.2% from 2012 to 2021. At the same time, Jordan (+36.8%), Syrian Arab Republic (+13.5%) and Tunisia (+2.8%) displayed positive paces of growth. Moreover, Jordan emerged as the fastest-growing exporter exported in MENA, with a CAGR of +36.8% from 2012-2021. Saudi Arabia experienced a relatively flat trend pattern. By contrast, Turkey (-13.5%) and the United Arab Emirates (-15.0%) illustrated a downward trend over the same period. Saudi Arabia (+7.9 p.p.), Jordan (+7 p.p.), Syrian Arab Republic (+5.4 p.p.) and Tunisia (+3.6 p.p.) significantly strengthened its position in terms of the total exports, while Turkey and the United Arab Emirates saw its share reduced by -7.5% and -9.7% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest cocoa powder with sugar supplying countries in MENA were Egypt ($X), Saudi Arabia ($X) and Jordan ($X), with a combined 76% share of total exports.

Jordan, with a CAGR of +31.3%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in MENA amounted to $X per ton, reducing by -6.4% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of 67% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2015; however, from 2016 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Turkey ($X per ton), while Syrian Arab Republic ($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 United Arab Emirates (+8.7%), while the other leaders experienced more modest paces of growth.

Imports of Cocoa Powder (Containing Added Sugar)

Imports in MENA

In 2021, purchases abroad of cocoa powder (containing added sugar) was finally on the rise to reach X tons after four years of decline. Over the period under review, imports, however, showed a pronounced shrinkage. The growth pace was the most rapid in 2013 with an increase of 34%. Over the period under review, imports hit record highs at X tons in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, cocoa powder with sugar imports shrank to $X in 2021. In general, imports, however, recorded a perceptible shrinkage. The growth pace was the most rapid in 2016 when imports increased by 35% against the previous year. As a result, imports attained the peak of $X. From 2017 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Iraq (X tons), Egypt (X tons), the United Arab Emirates (X tons), Morocco (X tons), Libya (X tons), Lebanon (X tons), Jordan (X tons), Israel (X tons), Kuwait (X tons), Oman (X tons) and Bahrain (X tons) represented roughly 94% of total imports in 2021.

From 2012 to 2021, the biggest increases were recorded for Egypt (with a CAGR of +29.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest cocoa powder with sugar importing markets in MENA were the United Arab Emirates ($X), Egypt ($X) and Iraq ($X), together accounting for 49% of total imports.

In terms of the main importing countries, Egypt, with a CAGR of +27.6%, saw the highest growth rate of 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

The import price in MENA stood at $X per ton in 2021, waning by -8.4% against the previous year. Overall, the import price showed a slight curtailment. The most prominent rate of growth was recorded in 2016 an increase of 7%. Over the period under review, import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Bahrain ($X per ton), while Lebanon ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Oman (+5.3%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform