Southern Asia: Cocoa Powder Market 2024

Cocoa Powder Market Size in Southern Asia

The South Asian cocoa powder market was estimated at $X in 2022, with an increase of 6.5% against the previous year. Over the period under review, consumption recorded a relatively flat trend pattern. Over the period under review, the market reached the maximum level in 2022 and is likely to see steady growth in years to come.

Cocoa Powder Production in Southern Asia

In value terms, cocoa powder production totaled $X in 2022 estimated in export price. In general, production, however, showed a slight slump. The pace of growth appeared the most rapid in 2017 with an increase of 23% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Cocoa Powder Exports

Exports in Southern Asia

In 2022, shipments abroad of cocoa powder (not sweetened) decreased by -3.5% to X tons, falling for the third year in a row after eight years of growth. In general, exports, however, enjoyed noticeable growth. The growth pace was the most rapid in 2014 with an increase of 151% against the previous year. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, cocoa powder exports surged to $X in 2022. Over the period under review, exports, however, continue to indicate prominent growth. The pace of growth appeared the most rapid in 2014 when exports increased by 112%. Over the period under review, the exports reached the peak figure at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, India (X tons) represented the major exporter of cocoa powder (not sweetened) in Southern Asia, creating 99% of total export.

India was also the fastest-growing in terms of the cocoa powder (not sweetened) exports, with a CAGR of +8.0% from 2012 to 2022. From 2012 to 2022, the share of India increased by +29 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest cocoa powder supplier in Southern Asia.

In India, cocoa powder exports expanded at an average annual rate of +8.0% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Southern Asia amounted to $X per ton, jumping by 36% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the export price increased by 70% against the previous year. The level of export peaked in 2022 and is expected to retain growth in years to come.

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

From 2012 to 2022, the rate of growth in terms of prices for India amounted to -0.0% per year.

Cocoa Powder Imports

Imports in Southern Asia

In 2022, the amount of cocoa powder (not sweetened) imported in Southern Asia skyrocketed to X tons, jumping by 21% against 2021 figures. Over the period under review, imports recorded a buoyant increase. The growth pace was the most rapid in 2014 with an increase of 69% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, cocoa powder imports soared to $X in 2022. Overall, imports continue to indicate a buoyant expansion. The pace of growth appeared the most rapid in 2021 when imports increased by 48% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, India (X tons) represented the largest importer of cocoa powder (not sweetened), comprising 78% of total imports. It was distantly followed by Pakistan (X tons) and Sri Lanka (X tons), together generating a 17% share of total imports. Bangladesh (X tons) held a little share of total imports.

India was also the fastest-growing in terms of the cocoa powder (not sweetened) imports, with a CAGR of +19.6% from 2012 to 2022. At the same time, Bangladesh (+15.5%), Pakistan (+14.0%) and Sri Lanka (+7.4%) displayed positive paces of growth. India (+12 p.p.) significantly strengthened its position in terms of the total imports, while Pakistan and Sri Lanka saw its share reduced by -4.6% and -6.9% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported cocoa powder (not sweetened) in Southern Asia, comprising 78% of total imports. The second position in the ranking was held by Pakistan ($X), with a 12% share of total imports. It was followed by Sri Lanka, with a 5.3% share.

In India, cocoa powder imports increased at an average annual rate of +15.5% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Pakistan (+9.0% per year) and Sri Lanka (+5.4% per year).

Import Prices by Country

The import price in Southern Asia stood at $X per ton in 2022, increasing by 18% against the previous year. Over the period under review, the import price, however, recorded a noticeable downturn. Over the period under review, import prices attained the maximum 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 Sri Lanka ($X per ton), while Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bangladesh (+0.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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