Africa: Cocoa Powder Market 2024

Cocoa Powder Market Size in Africa

The African cocoa powder market declined modestly to $X in 2022, dropping 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 remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The growth pace was the most rapid in 2019 when the market value increased by X%. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Cocoa Powder Production in Africa

In value terms, cocoa powder production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations in certain years. The pace of growth appeared the most rapid in 2015 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

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Cocoa Powder Exports

Exports in Africa

In 2022, cocoa powder exports in Africa reached X tons, increasing by X% against the previous year. Total exports indicated a resilient increase 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, exports decreased by X% against 2020 indices. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, cocoa powder exports expanded to $X in 2022. Total exports indicated a notable increase 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, exports increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

Ghana represented the major exporting country with an export of around X tons, which resulted at X% of total exports. It was distantly followed by Cote d'Ivoire (X tons), committing a X% share of total exports.

Ghana was also the fastest-growing in terms of the cocoa powder (not sweetened) exports, with a CAGR of X% from 2012 to 2022. Cote d'Ivoire (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Ghana increased by X percentage points.

In value terms, the largest cocoa powder supplying countries in Africa were Ghana ($X) and Cote d'Ivoire ($X).

Among the main exporting countries, Ghana, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

The export price in Africa stood at $X per ton in 2022, declining by X% against the previous year. In general, the export price saw a perceptible curtailment. The most prominent rate of growth was recorded in 2021 an increase of X%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per ton), while Ghana totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (X%).

Cocoa Powder Imports

Imports in Africa

In 2022, approx. X tons of cocoa powder (not sweetened) were imported in Africa; with a decrease of X% on 2021. Total imports indicated temperate 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 most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, imports attained the maximum at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, cocoa powder imports dropped to $X in 2022. Total imports indicated mild growth 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 2015 indices. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, imports reached the peak of $X, and then contracted in the following year.

Imports by Country

In 2022, Egypt (X tons) and Algeria (X tons) were the key importers of cocoa powder (not sweetened) in Africa, together finishing at near X% of total imports. It was distantly followed by Morocco (X tons), South Africa (X tons) and Tunisia (X tons), together making up a X% share of total imports. Kenya (X tons) took a minor 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 Algeria (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest cocoa powder importing markets in Africa were Egypt ($X), Algeria ($X) and Morocco ($X), with a combined X% share of total imports.

Among the main importing countries, Algeria, with a CAGR of X%, recorded the highest growth rate of 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

The import price in Africa stood at $X per ton in 2022, increasing by X% against the previous year. Overall, the import price, however, continues to indicate a noticeable slump. The growth pace was the most rapid in 2020 an increase of X%. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Kenya ($X per ton), while Algeria ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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