Northern America: Cocoa Paste Market 2024

Cocoa Paste Market Size in Northern America

After two years of growth, the North American cocoa paste market decreased by -8.1% to $X in 2021. The market value increased at an average annual rate of +2.4% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X, and then shrank in the following year.

Cocoa Paste Production in Northern America

In value terms, cocoa paste production fell to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.8% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2013 when the production volume increased by 20%. The level of production peaked at $X in 2020, and then declined in the following year.

Cocoa Paste Exports

Exports in Northern America

Cocoa paste exports declined dramatically to X tons in 2021, which is down by -24.5% against the year before. Over the period under review, exports showed a deep setback. The most prominent rate of growth was recorded in 2016 with an increase of 26%. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, cocoa paste exports fell dramatically to $X in 2021. In general, exports continue to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2016 with an increase of 30% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, the United States (X tons) represented the major exporter of cocoa paste, mixing up 69% of total exports. It was distantly followed by Canada (X tons), constituting a 31% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to cocoa paste exports from the United States stood at -10.4%. Canada experienced a relatively flat trend pattern. Canada (+17 p.p.) significantly strengthened its position in terms of the total exports, while the United States saw its share reduced by -17.3% from 2012 to 2021, respectively.

In value terms, the United States ($X) remains the largest cocoa paste supplier in Northern America, comprising 67% of total exports. The second position in the ranking was held by Canada ($X), with a 33% share of total exports.

In the United States, cocoa paste exports declined by an average annual rate of -9.8% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in Northern America amounted to $X per ton, with an increase of 8.6% against the previous year. In general, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when the export price increased by 17%. The level of export peaked at $X per ton in 2016; however, from 2017 to 2021, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Canada ($X per ton), while the United States stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+0.7%).

Cocoa Paste Imports

Imports in Northern America

In 2021, supplies from abroad of cocoa paste decreased by -11.5% to X tons for the first time since 2018, thus ending a two-year rising trend. Total imports indicated a noticeable expansion from 2012 to 2021: its volume increased at an average annual rate of +2.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +27.1% against 2018 indices. The growth pace was the most rapid in 2016 when imports increased by 69%. The volume of import peaked at X tons in 2020, and then reduced in the following year.

In value terms, cocoa paste imports fell to $X in 2021. In general, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 60% against the previous year. Over the period under review, imports reached the maximum at $X in 2020, and then dropped in the following year.

Imports by Country

In 2021, the United States (X tons) represented the key importer of cocoa paste, generating 89% of total imports. It was distantly followed by Canada (X tons), creating an 11% share of total imports.

The United States was also the fastest-growing in terms of the cocoa paste imports, with a CAGR of +4.0% from 2012 to 2021. Canada (-3.1%) illustrated a downward trend over the same period. From 2012 to 2021, the share of the United States increased by +8.1 percentage points.

In value terms, the United States ($X) constitutes the largest market for imported cocoa paste in Northern America, comprising 85% of total imports. The second position in the ranking was held by Canada ($X), with a 15% share of total imports.

In the United States, cocoa paste imports remained relatively stable over the period from 2012-2021.

Import Prices by Country

In 2021, the import price in Northern America amounted to $X per ton, approximately reflecting the previous year. In general, the import price, however, continues to indicate a perceptible decrease. The most prominent rate of growth was recorded in 2015 when the import price increased by 9.7%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Canada ($X per ton), while the United States amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (+0.6%).

Source: IndexBox Platform

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