Singapore: Market for Cocoa Powder (Containing Added Sugar) 2025

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

The Singaporean cocoa powder with sugar market expanded markedly to $X in 2021, surging by 6.4% against the previous year. Overall, consumption continues to indicate a slight setback. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Production of Cocoa Powder (Containing Added Sugar) in Singapore

In value terms, cocoa powder with sugar production skyrocketed to $X in 2021 estimated in export price. In general, the total production indicated a perceptible increase from 2012 to 2021: its value increased at an average annual rate of +2.6% 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 decreased by -26.8% against 2019 indices. The pace of growth was the most pronounced in 2019 when the production volume increased by 105%. As a result, production reached 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 from Singapore

Cocoa powder with sugar exports from Singapore skyrocketed to X tons in 2021, with an increase of 43% on the year before. In general, exports, however, continue to indicate a perceptible descent. The pace of growth was the most pronounced in 2019 when exports increased by 117%. The exports peaked at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, cocoa powder with sugar exports surged to $X in 2021. Over the period under review, exports, however, saw a drastic downturn. The pace of growth appeared the most rapid in 2019 with an increase of 150% against the previous year. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

Japan (X tons) was the main destination for cocoa powder with sugar exports from Singapore, with a 91% share of total exports. Moreover, cocoa powder with sugar exports to Japan exceeded the volume sent to the second major destination, South Korea (X tons), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Japan totaled -1.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+12.2% per year) and Australia (-18.1% per year).

In value terms, Japan ($X) remains the key foreign market for cocoa powder (containing added sugar) exports from Singapore, comprising 77% of total exports. The second position in the ranking was taken by South Korea ($X), with a 13% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Japan stood at -6.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+6.0% per year) and Australia (-22.8% per year).

Export Prices by Country

In 2021, the average cocoa powder with sugar export price amounted to $X per ton, increasing by 1.5% against the previous year. In general, the export price, however, saw a noticeable decrease. The most prominent rate of growth was recorded in 2018 an increase of 30% against the previous year. The export price peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Australia ($X per ton), while the average price for exports to Japan ($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 Japan (-4.3%), while the prices for the other major destinations experienced a decline.

Imports of Cocoa Powder (Containing Added Sugar)

Imports into Singapore

In 2021, supplies from abroad of cocoa powder (containing added sugar) decreased by -21% to X tons, falling for the second consecutive year after three years of growth. Overall, imports saw a deep setback. The pace of growth appeared the most rapid in 2017 when imports increased by 118% against the previous year. Over the period under review, imports reached the maximum at X tons in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, cocoa powder with sugar imports dropped dramatically to $X in 2021. In general, imports faced a deep setback. The most prominent rate of growth was recorded in 2014 when imports increased by 55% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Malaysia (X tons) constituted the largest cocoa powder with sugar supplier to Singapore, accounting for a 63% share of total imports. Moreover, cocoa powder with sugar imports from Malaysia exceeded the figures recorded by the second-largest supplier, Australia (X tons), twofold. The third position in this ranking was held by the United States (X tons), with a 2% share.

From 2012 to 2021, the average annual growth rate of volume from Malaysia amounted to -22.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (+44.6% per year) and the United States (+13.5% per year).

In value terms, the largest cocoa powder with sugar suppliers to Singapore were Malaysia ($X), Australia ($X) and the United States ($X), together comprising 86% of total imports.

Australia, with a CAGR of +36.8%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average cocoa powder with sugar import price stood at $X per ton in 2021, increasing by 6.7% against the previous year. Over the period under review, the import price posted buoyant growth. The pace of growth appeared the most rapid in 2016 when the average import price increased by 149% against the previous year. As a result, import price attained the peak level of $X per ton. From 2017 to 2021, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($X per ton), while the price for Malaysia ($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 UK (+12.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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