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

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

In 2021, after two years of growth, there was significant decline in the Moroccan cocoa powder with sugar market, when its value decreased by -11.6% to $X. In general, the total consumption indicated a noticeable expansion from 2012 to 2021: its value increased at an average annual rate of +2.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +44.1% against 2018 indices. Over the period under review, the market reached the maximum level at $X in 2015; however, from 2016 to 2021, consumption remained at a lower figure.

Production of Cocoa Powder (Containing Added Sugar) in Morocco

In value terms, cocoa powder with sugar production fell to $X in 2021 estimated in export price. Over the period under review, the total production indicated a measured expansion from 2012 to 2021: its value increased at an average annual rate of +3.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +58.4% against 2018 indices. The most prominent rate of growth was recorded in 2020 when the production volume increased by 42% against the previous year. Over the period under review, production hit record highs at $X in 2015; however, from 2016 to 2021, production failed to regain momentum.

Exports of Cocoa Powder (Containing Added Sugar)

Exports from Morocco

In 2021, the amount of cocoa powder (containing added sugar) exported from Morocco skyrocketed to X tons, surging by 33% against the previous year. In general, exports, however, recorded a deep downturn. The pace of growth appeared the most rapid in 2017 when exports increased by 115%. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, cocoa powder with sugar exports surged to $X in 2021. Over the period under review, exports continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2019 when exports increased by 255% against the previous year. As a result, the exports attained the peak of $X. From 2020 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Mali (X tons) was the main destination for cocoa powder with sugar exports from Morocco, accounting for a 69% share of total exports. Moreover, cocoa powder with sugar exports to Mali exceeded the volume sent to the second major destination, Senegal (X kg), fourfold. The third position in this ranking was held by Congo (X kg), with a 2.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Mali stood at +3.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Senegal (+10.9% per year) and Congo (-32.3% per year).

In value terms, the largest markets for cocoa powder with sugar exported from Morocco were Senegal ($X), Mali ($X) and Spain ($X), with a combined 63% share of total exports. These countries were followed by Congo, Cameroon and Italy, which together accounted for a further 5.9%.

Among the main countries of destination, Italy, with a CAGR of +64.5%, saw the highest growth rate of 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

The average cocoa powder with sugar export price stood at $X per ton in 2021, growing by 68% against the previous year. Over the period under review, the export price showed a buoyant expansion. The pace of growth appeared the most rapid in 2019 when the average export price increased by 93% against the previous year. Over the period under review, the average export prices hit record highs in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Spain ($X per ton), while the average price for exports to Mali ($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 Lebanon (+51.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Cocoa Powder (Containing Added Sugar)

Imports into Morocco

In 2021, the amount of cocoa powder (containing added sugar) imported into Morocco skyrocketed to X tons, growing by 45% on the previous year's figure. Overall, imports continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2018 with an increase of 75% against the previous year. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in years to come.

In value terms, cocoa powder with sugar imports soared to $X in 2021. Over the period under review, imports continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2018 when imports increased by 85% against the previous year. Imports peaked in 2021 and are likely to see steady growth in years to come.

Imports by Country

In 2021, Spain (X tons) constituted the largest cocoa powder with sugar supplier to Morocco, with a 74% share of total imports. Moreover, cocoa powder with sugar imports from Spain exceeded the figures recorded by the second-largest supplier, Egypt (X tons), tenfold. Germany (X tons) ranked third in terms of total imports with a 5.7% share.

From 2012 to 2021, the average annual growth rate of volume from Spain stood at +46.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Egypt (-3.6% per year) and Germany (+4.8% per year).

In value terms, Spain ($X) constituted the largest supplier of cocoa powder (containing added sugar) to Morocco, comprising 77% of total imports. The second position in the ranking was held by Germany ($X), with a 5.9% share of total imports. It was followed by France, with a 5% share.

From 2012 to 2021, the average annual growth rate of value from Spain totaled +47.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+4.2% per year) and France (+43.1% per year).

Import Prices by Country

The average cocoa powder with sugar import price stood at $X per ton in 2021, surging by 6.3% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the average import price increased by 8.8% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 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 Portugal ($X per ton), while the price for Egypt ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+1.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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