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

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

The SADC cocoa powder with sugar market expanded markedly to $X in 2021, picking up by 8.6% against the previous year. The market value increased at an average annual rate of +2.8% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market failed to regain momentum.

Production of Cocoa Powder (Containing Added Sugar) in SADC

In value terms, cocoa powder with sugar production expanded notably to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.2% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2019 when the production volume increased by 30%. As a result, production attained the peak level of $X. From 2020 to 2021, production growth remained at a somewhat lower figure.

Exports of Cocoa Powder (Containing Added Sugar)

Exports in SADC

In 2021, approx. X tons of cocoa powder (containing added sugar) were exported in SADC; dropping by -33.5% against the previous year. In general, exports showed a abrupt decline. The most prominent rate of growth was recorded in 2020 when exports increased by 54%. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, cocoa powder with sugar exports contracted to $X in 2021. Overall, exports recorded a mild curtailment. The most prominent rate of growth was recorded in 2020 with an increase of 50%. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

In 2021, South Africa (X tons) was the main exporter of cocoa powder (containing added sugar), committing 69% of total exports. Swaziland (X tons) ranks second in terms of the total exports with a 26% share, followed by Zambia (4.6%).

South Africa experienced a relatively flat trend pattern with regard to volume of exports of cocoa powder (containing added sugar). At the same time, Zambia (+45.3%) displayed positive paces of growth. Moreover, Zambia emerged as the fastest-growing exporter exported in SADC, with a CAGR of +45.3% from 2012-2021. By contrast, Swaziland (-17.3%) illustrated a downward trend over the same period. South Africa (+35 p.p.) and Zambia (+4.5 p.p.) significantly strengthened its position in terms of the total exports, while Swaziland saw its share reduced by -39.5% from 2012 to 2021, respectively.

In value terms, South Africa ($X) remains the largest cocoa powder with sugar supplier in SADC, comprising 84% of total exports. The second position in the ranking was held by Swaziland ($X), with a 15% share of total exports.

From 2012 to 2021, the average annual growth rate of value in South Africa totaled +7.6%. The remaining exporting countries recorded the following average annual rates of exports growth: Swaziland (-16.4% per year) and Zambia (+33.4% per year).

Export Prices by Country

In 2021, the export price in SADC amounted to $X per ton, jumping by 34% against the previous year. Export price indicated a resilient increase from 2012 to 2021: its price increased at an average annual rate of +7.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, cocoa powder with sugar export price increased by +81.1% against 2018 indices. The most prominent rate of growth was recorded in 2019 when the export price increased by 38%. Over the period under review, the export prices reached the maximum in 2021 and is likely to see gradual growth in the immediate term.

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 South Africa ($X per ton), while Zambia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Africa (+8.6%), while the other leaders experienced mixed trends in the export price figures.

Imports of Cocoa Powder (Containing Added Sugar)

Imports in SADC

In 2021, approx. X tons of cocoa powder (containing added sugar) were imported in SADC; with an increase of 53% against the year before. Overall, imports, however, recorded a pronounced downturn. The volume of import peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, cocoa powder with sugar imports surged to $X in 2021. In general, imports, however, recorded a pronounced reduction. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

South Africa was the main importing country with an import of about X tons, which finished at 52% of total imports. Botswana (X tons) ranks second in terms of the total imports with an 11% share, followed by Mauritius (9.2%), Namibia (5.1%) and Angola (4.9%). The following importers - Democratic Republic of the Congo (X tons) and Swaziland (X tons) - together made up 7.6% of total imports.

Imports into South Africa decreased at an average annual rate of -5.5% from 2012 to 2021. At the same time, Mauritius (+28.0%), Democratic Republic of the Congo (+21.1%) and Botswana (+4.2%) displayed positive paces of growth. Moreover, Mauritius emerged as the fastest-growing importer imported in SADC, with a CAGR of +28.0% from 2012-2021. By contrast, Namibia (-4.5%), Swaziland (-4.7%) and Angola (-10.4%) illustrated a downward trend over the same period. Mauritius (+8.4 p.p.), Botswana (+5.5 p.p.) and Democratic Republic of the Congo (+3.8 p.p.) significantly strengthened its position in terms of the total imports, while Angola and South Africa saw its share reduced by -4.7% and -11.2% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) constitutes the largest market for imported cocoa powder (containing added sugar) in SADC, comprising 49% of total imports. The second position in the ranking was taken by Botswana ($X), with a 13% share of total imports. It was followed by Mauritius, with an 11% share.

In South Africa, cocoa powder with sugar imports decreased by an average annual rate of -3.7% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Botswana (-0.4% per year) and Mauritius (+28.2% per year).

Import Prices by Country

The import price in SADC stood at $X per ton in 2021, with an increase of 7% against the previous year. Overall, the import price recorded a modest expansion. The most prominent rate of growth was recorded in 2014 when the import price increased by 25% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, the import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Swaziland ($X per ton), while Democratic Republic of the Congo ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Swaziland (+5.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform