Africa: Cocoa Paste Market 2024

Cocoa Paste Market Size in Africa

The African cocoa paste market expanded markedly to $X in 2022, surging by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked in 2022 and is expected to retain growth in the immediate term.

Cocoa Paste Production in Africa

In value terms, cocoa paste production rose slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2019 when the production volume increased by X%. Over the period under review, production attained the maximum level at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Cocoa Paste Exports

Exports in Africa

Cocoa paste exports plummeted to X tons in 2022, falling by X% against the previous year. Total exports indicated perceptible growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2021, and then declined dramatically in the following year.

In value terms, cocoa paste exports dropped sharply to $X in 2022. Total exports indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of X%. Over the period under review, the exports attained the maximum at $X in 2021, and then fell rapidly in the following year.

Exports by Country

Ghana (X tons) and Cote d'Ivoire (X tons) were the largest exporters of cocoa paste in 2022, recording approx. X% and X% of total exports, respectively. It was distantly followed by Cameroon (X tons), creating a X% share of total exports. Nigeria (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Cameroon (with a CAGR of X%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, the largest cocoa paste supplying countries in Africa were Ghana ($X), Cote d'Ivoire ($X) and Cameroon ($X), together comprising X% of total exports.

Cameroon, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in Africa stood at $X per ton in 2022, remaining constant against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the export price increased by X%. As a result, the export price attained the peak level of $X per ton. From 2017 to 2022, the export prices remained at a 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 Ghana ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (X%), while the other leaders experienced a decline in the export price figures.

Cocoa Paste Imports

Imports in Africa

In 2022, the amount of cocoa paste imported in Africa shrank rapidly to X tons, which is down by X% on 2021 figures. Total imports indicated measured growth from 2012 to 2022: its volume increased at an average annual rate of X% 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 X% against 2020 indices. The pace of growth appeared the most rapid in 2018 when imports increased by X%. The volume of import peaked at X tons in 2021, and then reduced dramatically in the following year.

In value terms, cocoa paste imports declined sharply to $X in 2022. Total imports indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2020 indices. The growth pace was the most rapid in 2014 when imports increased by X% against the previous year. The level of import peaked at $X in 2021, and then contracted notably in the following year.

Imports by Country

In 2022, South Africa (X tons) and Egypt (X tons) were the major importers of cocoa paste in Africa, together constituting X% of total imports. It was distantly followed by Algeria (X tons) and Morocco (X tons), together creating a X% share of total imports. Somalia (X tons) took a little 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 Somalia (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, South Africa ($X), Egypt ($X) and Morocco ($X) constituted the countries with the highest levels of imports in 2022, together comprising X% of total imports. Algeria and Somalia lagged somewhat behind, together accounting for a further X%.

Among the main importing countries, Somalia, with a CAGR of X%, saw the highest rates of growth with regard to 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 2022, the import price in Africa amounted to $X per ton, waning by X% against the previous year. In general, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 an increase of X%. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the import prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major importing countries. In 2022, major importing countries recorded the following prices: in South Africa ($X per ton) and Egypt ($X per ton), while Somalia ($X per ton) and Algeria ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Morocco (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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