GCC: Cocoa Butter Market 2024

Cocoa Butter Market Size in GCC

The GCC cocoa butter market amounted to $X in 2022, increasing by X% against the previous year. Overall, consumption, however, showed a noticeable decrease. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Cocoa Butter Production in GCC

In value terms, cocoa butter production amounted to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Cocoa Butter Exports

Exports in GCC

In 2022, overseas shipments of cocoa butter decreased by X% to X tons, falling for the second consecutive year after four years of growth. Over the period under review, exports, however, enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2014 when exports increased by X%. Over the period under review, the exports reached the maximum at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, cocoa butter exports dropped significantly to $X in 2022. Overall, exports saw a abrupt setback. The pace of growth was the most pronounced in 2017 when exports increased by X% against the previous year. The level of export peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United Arab Emirates prevails in exports structure, recording X tons, which was near X% of total exports in 2022. Oman (X tons) followed a long way behind the leaders.

Exports from the United Arab Emirates increased at an average annual rate of X% from 2012 to 2022. At the same time, Oman (X%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of Oman increased by X percentage points.

In value terms, the United Arab Emirates ($X) remains the largest cocoa butter supplier in GCC, comprising X% of total exports. The second position in the ranking was held by Oman ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value in the United Arab Emirates totaled X%.

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, dropping by X% against the previous year. In general, the export price showed a abrupt decline. The pace of growth appeared the most rapid in 2021 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Oman ($X per ton), while the United Arab Emirates totaled $X per ton.

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

Cocoa Butter Imports

Imports in GCC

In 2022, supplies from abroad of cocoa butter increased by X% to X tons, rising for the second consecutive year after six years of decline. In general, imports, however, recorded a mild shrinkage. The pace of growth appeared the most rapid in 2014 with an increase of X%. As a result, imports attained the peak of X tons. From 2015 to 2022, the growth of imports failed to regain momentum.

In value terms, cocoa butter imports rose remarkably to $X in 2022. Overall, imports posted notable growth. The pace of growth appeared the most rapid in 2014 with an increase of X%. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports failed to regain momentum.

Imports by Country

The United Arab Emirates represented the major importing country with an import of around X tons, which recorded X% of total imports. It was distantly followed by Saudi Arabia (X tons), committing a X% share of total imports.

Imports into the United Arab Emirates decreased at an average annual rate of X% from 2012 to 2022. At the same time, Saudi Arabia (X%) displayed positive paces of growth. Moreover, Saudi Arabia emerged as the fastest-growing importer imported in GCC, with a CAGR of X% from 2012-2022. Saudi Arabia (X p.p.) significantly strengthened its position in terms of the total imports, while the United Arab Emirates saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported cocoa butter in GCC, comprising X% of total imports. The second position in the ranking was held by Saudi Arabia ($X), with a X% share of total imports.

In the United Arab Emirates, cocoa butter imports increased at an average annual rate of X% over the period from 2012-2022.

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, with a decrease of X% against the previous year. Import price indicated a buoyant increase from 2012 to 2022: its price 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, cocoa butter import price decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2014 when the import price increased by X%. Over the period under review, import prices reached the peak figure at $X per ton in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Saudi Arabia ($X per ton), while the United Arab Emirates amounted to $X per ton.

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

Source: IndexBox Platform

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