South-Eastern Asia: Cocoa Paste Market 2024

Cocoa Paste Market Size in South-Eastern Asia

The Southeast Asian cocoa paste market rose notably to $X in 2021, growing by 7% against the previous year. Overall, consumption continues to indicate a relatively flat trend pattern. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Cocoa Paste Production in South-Eastern Asia

In value terms, cocoa paste production rose slightly to $X in 2021 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2015 with an increase of 14%. Over the period under review, production attained the maximum level at $X in 2016; however, from 2017 to 2021, production failed to regain momentum.

Cocoa Paste Exports

Exports in South-Eastern Asia

In 2021, overseas shipments of cocoa paste decreased by -2.3% to X tons, falling for the sixth consecutive year after four years of growth. Overall, exports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2015 with an increase of 19%. As a result, the exports attained the peak of X tons. From 2016 to 2021, the growth of the exports failed to regain momentum.

In value terms, cocoa paste exports skyrocketed to $X in 2021. Over the period under review, exports saw a pronounced reduction. The level of export peaked at $X in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

Exports by Country

Indonesia represented the major exporter of cocoa paste in South-Eastern Asia, with the volume of exports reaching X tons, which was near 56% of total exports in 2021. It was distantly followed by Malaysia (X tons) and Singapore (X tons), together constituting a 43% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Indonesia (with a CAGR of -0.3%), while the other leaders experienced a decline in the exports figures.

In value terms, Indonesia ($X), Malaysia ($X) and Singapore ($X) appeared to be the countries with the highest levels of exports in 2021, with a combined 99% share of total exports.

Malaysia, with a CAGR of -1.7%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2021, picking up by 25% against the previous year. Over the period under review, the export price, however, continues to indicate a perceptible decline. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (-1.1%), while the other leaders experienced a decline in the export price figures.

Cocoa Paste Imports

Imports in South-Eastern Asia

In 2021, approx. X tons of cocoa paste were imported in South-Eastern Asia; jumping by 25% compared with the previous year's figure. Total imports indicated a remarkable increase from 2012 to 2021: its volume increased at an average annual rate of +6.8% 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 -25.4% against 2019 indices. The pace of growth was the most pronounced in 2013 with an increase of 76% against the previous year. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, cocoa paste imports skyrocketed to $X in 2021. Total imports indicated temperate growth from 2012 to 2021: its value increased at an average annual rate of +2.3% 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 -23.9% against 2015 indices. The pace of growth appeared the most rapid in 2013 when imports increased by 40% against the previous year. Over the period under review, imports attained the maximum at $X in 2015; however, from 2016 to 2021, imports failed to regain momentum.

Imports by Country

Malaysia was the key importing country with an import of around X tons, which amounted to 54% of total imports. Singapore (X tons) took a 29% share (based on physical terms) of total imports, which put it in second place, followed by Indonesia (12%). Thailand (X tons) took a relatively small share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Indonesia (with a CAGR of +14.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X), Singapore ($X) and Indonesia ($X) constituted the countries with the highest levels of imports in 2021, with a combined 93% share of total imports.

Among the main importing countries, Indonesia, with a CAGR of +5.5%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in South-Eastern Asia amounted to $X per ton, surging by 6.6% against the previous year. Overall, the import price, however, recorded a perceptible setback. The pace of growth appeared the most rapid in 2020 an increase of 15%. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (-0.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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