United Kingdom: Cocoa Powder Market 2024

Cocoa Powder Market Size in the UK

The UK cocoa powder market rose sharply to $X in 2022, with an increase of 12% against the previous year. Overall, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Cocoa Powder Production in the UK

In value terms, cocoa powder production amounted to $X in 2022 estimated in export price. In general, production, however, continues to indicate a pronounced contraction. The pace of growth was the most pronounced in 2020 with an increase of 42%. Cocoa powder production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Cocoa Powder Exports

Exports from the UK

In 2022, overseas shipments of cocoa powder (not sweetened) decreased by -20.2% to X tons, falling for the third consecutive year after two years of growth. Over the period under review, exports saw a abrupt decrease. The most prominent rate of growth was recorded in 2018 with an increase of 97% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, cocoa powder exports dropped significantly to $X in 2022. Overall, exports saw a drastic downturn. The most prominent rate of growth was recorded in 2015 when exports increased by 18%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Ireland (X tons), Germany (X tons) and the Netherlands (X tons) were the main destinations of cocoa powder exports from the UK, together comprising 51% of total exports. Belgium, Poland, Qatar, the United Arab Emirates, Thailand, Hong Kong SAR, Kuwait, Turkey, France and Italy lagged somewhat behind, together accounting for a further 35%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Italy (with a CAGR of +30.3%), while the other leaders experienced more modest paces of growth.

In value terms, Ireland ($X) remains the key foreign market for cocoa powder (not sweetened) exports from the UK, comprising 25% of total exports. The second position in the ranking was held by Germany ($X), with a 10% share of total exports. It was followed by the Netherlands, with an 8.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Ireland totaled -5.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-12.1% per year) and the Netherlands (+8.4% per year).

Export Prices by Country

In 2022, the average cocoa powder export price amounted to $X per ton, with an increase of 2.7% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of 80% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Turkey ($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 Thailand (+9.8%), while the prices for the other major destinations experienced more modest paces of growth.

Cocoa Powder Imports

Imports into the UK

In 2022, supplies from abroad of cocoa powder (not sweetened) increased by 17% to X tons, rising for the second consecutive year after three years of decline. Overall, total imports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of +8.7% 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 +24.1% against 2020 indices. The growth pace was the most rapid in 2013 with an increase of 80%. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, cocoa powder imports expanded sharply to $X in 2022. The total import value increased at an average annual rate of +3.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 with an increase of 30%. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

The Netherlands (X tons), Germany (X tons) and Spain (X tons) were the main suppliers of cocoa powder imports to the UK, with a combined 80% share of total imports. France, Turkey, Malaysia, Italy and Belgium lagged somewhat behind, together comprising a further 16%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of +105.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Germany ($X) and Spain ($X) constituted the largest cocoa powder suppliers to the UK, with a combined 77% share of total imports. France, Turkey, Italy, Malaysia and Belgium lagged somewhat behind, together accounting for a further 17%.

Turkey, with a CAGR of +91.4%, saw the highest rates of growth with regard to the value of imports, in terms of 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, reducing by -3% against the previous year. Over the period under review, the import price recorded a abrupt decline. The growth pace was the most rapid in 2021 an increase of 14%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (-1.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :