Canada: Cocoa Powder Market 2024

Cocoa Powder Market Size in Canada

The Canadian cocoa powder market surged to $X in 2022, growing by X% against the previous year. In general, consumption recorded a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Cocoa Powder Production in Canada

In value terms, cocoa powder production expanded notably to $X in 2022 estimated in export price. Over the period under review, production posted a mild increase. The growth pace was the most rapid in 2015 with an increase of X%. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

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Cocoa Powder Exports

Exports from Canada

In 2022, overseas shipments of cocoa powder (not sweetened) decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, exports, however, showed strong growth. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, cocoa powder exports reduced sharply to $X in 2022. In general, exports, however, continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2015 when exports increased by X%. Over the period under review, the exports reached the peak figure at $X in 2021, and then reduced notably in the following year.

Exports by Country

Brazil (X tons), Turkey (X tons) and Australia (X tons) were the main destinations of cocoa powder exports from Canada, together comprising X% of total exports.

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

In value terms, the largest markets for cocoa powder exported from Canada were Brazil ($X), Turkey ($X) and Mexico ($X), together accounting for X% of total exports. Australia and the United States lagged somewhat behind, together accounting for a further X%.

In terms of the main countries of destination, Australia, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average cocoa powder export price amounted to $X per ton, shrinking by X% against the previous year. Overall, the export price saw a drastic downturn. The most prominent rate of growth was recorded in 2019 an increase of X%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were the United States ($X per ton) and Mexico ($X per ton), while the average price for exports to Australia ($X per ton) and Brazil ($X per ton) were amongst the lowest.

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

Cocoa Powder Imports

Imports into Canada

In 2022, the amount of cocoa powder (not sweetened) imported into Canada rose rapidly to X tons, with an increase of X% against the year before. Over the period under review, total imports indicated a noticeable expansion 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 2017 indices. The most prominent rate of growth was recorded in 2018 when imports increased by X%. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, cocoa powder imports soared to $X in 2022. In general, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of X%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

The United States (X tons), the Netherlands (X tons) and Malaysia (X tons) were the main suppliers of cocoa powder imports to Canada, with a combined X% share of total imports. Indonesia, France, Spain, Cote d'Ivoire, Germany and Brazil lagged somewhat behind, together comprising a further X%.

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

In value terms, the largest cocoa powder suppliers to Canada were the United States ($X), the Netherlands ($X) and Malaysia ($X), together accounting for X% of total imports. Indonesia, France, Spain, Cote d'Ivoire, Germany and Brazil lagged somewhat behind, together comprising a further X%.

Among the main suppliers, Spain, with a CAGR of X%, saw 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 average cocoa powder import price stood at $X per ton in 2022, with an increase of X% against the previous year. Over the period under review, the import price, however, recorded a noticeable slump. The most prominent rate of growth was recorded in 2017 when the average import price increased by X%. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Brazil ($X per ton) and the United States ($X per ton), while the price for Spain ($X per ton) and Indonesia ($X per ton) were 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 prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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