Republic of Korea: Market for Cocoa Powder (Containing Added Sugar) 2025

Market Size for Cocoa Powder (Containing Added Sugar) in Republic of Korea

The South Korean cocoa powder with sugar market expanded rapidly to $X in 2021, picking up by 8.9% against the previous year. In general, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in the near future.

Production of Cocoa Powder (Containing Added Sugar) in Republic of Korea

In value terms, cocoa powder with sugar production declined modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2019 when the production volume increased by 8.7%. Over the period under review, production attained the maximum level at $X in 2020, and then contracted in the following year.

Exports of Cocoa Powder (Containing Added Sugar)

Exports from Republic of Korea

In 2021, after two years of growth, there was significant decline in shipments abroad of cocoa powder (containing added sugar), when their volume decreased by -8.3% to X tons. The total export volume increased at an average annual rate of +2.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 with an increase of 20% against the previous year. Over the period under review, the exports hit record highs at X tons in 2020, and then contracted in the following year.

In value terms, cocoa powder with sugar exports fell to $X in 2021. The total export value increased at an average annual rate of +1.5% from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2015 with an increase of 14%. The exports peaked at $X in 2020, and then declined in the following year.

Exports by Country

Japan (X tons) was the main destination for cocoa powder with sugar exports from South Korea, accounting for a approx. 99% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Japan stood at +3.1%.

In value terms, Japan ($X) also remains the key foreign market for cocoa powder (containing added sugar) exports from South Korea.

From 2012 to 2021, the average annual growth rate of value to Japan stood at +1.4%.

Export Prices by Country

In 2021, the average cocoa powder with sugar export price amounted to $X per ton, increasing by 2.5% against the previous year. In general, the export price, however, showed a slight reduction. The most prominent rate of growth was recorded in 2020 an increase of 6.7% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Japan.

From 2012 to 2021, the rate of growth in terms of prices for Japan amounted to -1.6% per year.

Imports of Cocoa Powder (Containing Added Sugar)

Imports into Republic of Korea

In 2021, approx. X tons of cocoa powder (containing added sugar) were imported into South Korea; with an increase of 35% on the year before. Over the period under review, total imports indicated a modest increase from 2012 to 2021: its volume increased at an average annual rate of +1.7% 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 decreased by -25.2% against 2019 indices. Over the period under review, imports reached the peak figure at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, cocoa powder with sugar imports soared to $X in 2021. Overall, total imports indicated a mild expansion from 2012 to 2021: its value increased at an average annual rate of +1.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -38.6% against 2019 indices. The pace of growth was the most pronounced in 2019 when imports increased by 35%. As a result, imports attained the peak of $X. From 2020 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Brazil (X tons), Singapore (X tons) and Taiwan (Chinese) (X tons) were the main suppliers of cocoa powder with sugar imports to South Korea, together comprising 58% of total imports.

From 2012 to 2021, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of +43.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest cocoa powder with sugar suppliers to South Korea were Singapore ($X), the United States ($X) and Taiwan (Chinese) ($X), with a combined 56% share of total imports.

Taiwan (Chinese), with a CAGR of +43.5%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average cocoa powder with sugar import price amounted to $X per ton, with a decrease of -13.1% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of 16% against the previous year. The import price peaked at $X per ton in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+17.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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