Turkey: Cocoa Powder Market 2025

Cocoa Powder Market Size in Turkey

In 2022, the Turkish cocoa powder market was finally on the rise to reach $X for the first time since 2019, thus ending a two-year declining trend. Overall, consumption, however, showed a deep slump. Cocoa powder consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Cocoa Powder Production in Turkey

In value terms, cocoa powder production shrank notably to $X in 2022 estimated in export price. Overall, production continues to indicate a noticeable expansion. The pace of growth appeared the most rapid in 2021 with an increase of 506% against the previous year. As a result, production attained the peak level of $X, and then declined remarkably in the following year.

Cocoa Powder Exports

Exports from Turkey

In 2022, after two years of decline, there was significant growth in overseas shipments of cocoa powder (not sweetened), when their volume increased by 11% to X tons. In general, exports continue to indicate buoyant growth. The pace of growth appeared the most rapid in 2018 with an increase of 27%. Over the period under review, the exports reached the peak figure at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, cocoa powder exports rose notably to $X in 2022. Over the period under review, total exports indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +2.9% 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 +131.4% against 2014 indices. The growth pace was the most rapid in 2018 when exports increased by 19% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Iran (X tons) was the main destination for cocoa powder exports from Turkey, accounting for a 50% share of total exports. Moreover, cocoa powder exports to Iran exceeded the volume sent to the second major destination, Uzbekistan (X tons), more than tenfold. The third position in this ranking was taken by Azerbaijan (X tons), with a 3.7% share.

From 2012 to 2022, the average annual growth rate of volume to Iran amounted to +11.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Uzbekistan (+9.1% per year) and Azerbaijan (+9.9% per year).

In value terms, Iran ($X) remains the key foreign market for cocoa powder (not sweetened) exports from Turkey, comprising 50% of total exports. The second position in the ranking was taken by Azerbaijan ($X), with a 4.4% share of total exports. It was followed by Uzbekistan, with a 4.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Iran stood at +5.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Azerbaijan (+6.9% per year) and Uzbekistan (+4.5% per year).

Export Prices by Country

The average cocoa powder export price stood at $X per ton in 2022, surging by 2.2% against the previous year. Overall, the export price, however, showed a noticeable contraction. The most prominent rate of growth was recorded in 2021 an increase of 14%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Iraq ($X per ton), while the average price for exports to the UK ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to India (-1.4%), while the prices for the other major destinations experienced a decline.

Cocoa Powder Imports

Imports into Turkey

Cocoa powder imports into Turkey expanded remarkably to X tons in 2022, picking up by 5.2% on the previous year's figure. In general, imports enjoyed a strong increase. The most prominent rate of growth was recorded in 2013 with an increase of 47% against the previous year. Over the period under review, imports attained the maximum at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, cocoa powder imports expanded remarkably to $X in 2022. Over the period under review, total imports indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +5.1% 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 +101.7% against 2016 indices. The pace of growth appeared the most rapid in 2020 with an increase of 30%. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the near future.

Imports by Country

The Netherlands (X tons), Germany (X tons) and Bulgaria (X tons) were the main suppliers of cocoa powder imports to Turkey, together comprising 65% of total imports. Canada, Malaysia, Spain, Cote d'Ivoire, Indonesia, China, France and Ghana lagged somewhat behind, together accounting for a further 31%.

From 2012 to 2022, the biggest increases were recorded for Canada (with a CAGR of +82.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Germany ($X) and Bulgaria ($X) constituted the largest cocoa powder suppliers to Turkey, together accounting for 67% of total imports. Canada, Malaysia, Spain, Cote d'Ivoire, Indonesia, France, Ghana and China lagged somewhat behind, together comprising a further 31%.

Canada, with a CAGR of +68.0%, recorded 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 more modest paces of growth.

Import Prices by Country

In 2022, the average cocoa powder import price amounted to $X per ton, almost unchanged from the previous year. Over the period under review, the import price, however, showed a deep reduction. The pace of growth appeared the most rapid in 2016 when the average import price increased by 20%. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bulgaria (+6.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :