South-Eastern Asia: Cocoa Powder Market 2024

Cocoa Powder Market Size in South-Eastern Asia

The Southeast Asian cocoa powder market soared to $X in 2022, jumping by 16% against the previous year. Overall, consumption, however, continues to indicate a mild decrease. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Cocoa Powder Production in South-Eastern Asia

In value terms, cocoa powder production stood at $X in 2022 estimated in export price. In general, production showed a perceptible setback. The most prominent rate of growth was recorded in 2020 when the production volume increased by 9.4%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Cocoa Powder Exports

Exports in South-Eastern Asia

In 2022, overseas shipments of cocoa powder (not sweetened) decreased by -6.4% to X tons for the first time since 2017, thus ending a four-year rising trend. Total exports indicated tangible growth from 2012 to 2022: its volume increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +57.6% against 2012 indices. The growth pace was the most rapid in 2016 when exports increased by 18% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2021, and then contracted in the following year.

In value terms, cocoa powder exports reached $X in 2022. Overall, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 25% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Malaysia (X tons) and Indonesia (X tons) were the largest exporters of cocoa powder (not sweetened) in 2022, reaching approx. 50% and 35% of total exports, respectively. It was distantly followed by Singapore (X tons), generating a 15% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Indonesia (with a CAGR of +8.5%), while the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X), Indonesia ($X) and Singapore ($X) appeared to be the countries with the highest levels of exports in 2022, together comprising 100% of total exports.

Indonesia, with a CAGR of +5.0%, 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

In 2022, the export price in South-Eastern Asia amounted to $X per ton, picking up by 7.3% against the previous year. Overall, the export price, however, saw a abrupt decrease. The most prominent rate of growth was recorded in 2021 an increase of 12%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (-3.2%), while the other leaders experienced a decline in the export price figures.

Cocoa Powder Imports

Imports in South-Eastern Asia

In 2022, the amount of cocoa powder (not sweetened) imported in South-Eastern Asia stood at X tons, growing by 11% against 2021. Total imports indicated strong growth from 2012 to 2022: its volume increased at an average annual rate of +7.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +112.7% against 2013 indices. The most prominent rate of growth was recorded in 2016 when imports increased by 47% against the previous year. The volume of import peaked in 2022 and is likely to see steady growth in years to come.

In value terms, cocoa powder imports soared to $X in 2022. Total imports indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +51.0% against 2019 indices. The pace of growth was the most pronounced in 2016 with an increase of 56% against the previous year. The level of import peaked in 2022 and is likely to continue growth in the immediate term.

Imports by Country

The purchases of the three major importers of cocoa powder (not sweetened), namely Indonesia, the Philippines and Thailand, represented more than two-thirds of total import. It was distantly followed by Malaysia (X tons), Singapore (X tons) and Vietnam (X tons), together mixing up a 26% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Thailand (with a CAGR of +12.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest cocoa powder importing markets in South-Eastern Asia were Indonesia ($X), the Philippines ($X) and Thailand ($X), together accounting for 77% of total imports.

Thailand, with a CAGR of +7.8%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2022, rising by 10% against the previous year. Overall, the import price, however, recorded a perceptible reduction. The most prominent rate of growth was recorded in 2021 an increase of 18% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, 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 Singapore ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (-2.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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