GCC: Cocoa Powder Market 2024

Cocoa Powder Market Size in GCC

The GCC cocoa powder market dropped to $X in 2022, reducing by X% against the previous year. The total consumption 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. Based on 2022 figures, consumption increased by X% against 2020 indices. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Cocoa Powder Production in GCC

In value terms, cocoa powder production shrank to $X in 2022 estimated in export price. The total production indicated a measured 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, production increased by X% against 2020 indices. The pace of growth was the most pronounced in 2013 when the production volume increased by X%. Over the period under review, production attained the peak level at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Cocoa Powder Exports

Exports in GCC

Cocoa powder exports shrank rapidly to X tons in 2022, with a decrease of X% compared with the previous year's figure. In general, exports, however, saw a significant increase. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, cocoa powder exports plummeted to $X in 2022. Over the period under review, exports, however, showed significant growth. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United Arab Emirates dominates exports structure, amounting to X tons, which was approx. X% of total exports in 2022. The following exporters - Saudi Arabia (X tons) and Oman (X tons) - together made up X% of total exports.

Exports from the United Arab Emirates increased at an average annual rate of X% from 2012 to 2022. At the same time, Oman (X%) and Saudi Arabia (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. While the share of the United Arab Emirates (X p.p.) and Oman (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Saudi Arabia (X p.p.) displayed negative dynamics.

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

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates stood at X%. The remaining exporting countries recorded the following average annual rates of exports growth: Saudi Arabia (X% per year) and Oman (X% per year).

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, falling by X% against the previous year. Over the period under review, the export price recorded a deep reduction. The most prominent rate of growth was recorded in 2021 when the export price increased by X%. Over the period under review, the export prices hit record highs 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 origin: amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

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

Cocoa Powder Imports

Imports in GCC

In 2022, purchases abroad of cocoa powder (not sweetened) decreased by X% to X tons for the first time since 2017, thus ending a four-year rising trend. Total imports indicated buoyant 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 was the most pronounced in 2013 with an increase of X%. Over the period under review, imports reached the maximum at X tons in 2021, and then shrank in the following year.

In value terms, cocoa powder imports dropped to $X in 2022. Total imports indicated notable 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 2018 indices. The pace of growth was the most pronounced in 2020 with an increase of X%. Over the period under review, imports hit record highs at $X in 2021, and then shrank in the following year.

Imports by Country

The United Arab Emirates (X tons) and Saudi Arabia (X tons) were the main importers of cocoa powder (not sweetened) in 2022, amounting to approx. X% and X% of total imports, respectively. Kuwait (X tons) held the next position in the ranking, followed by Bahrain (X tons). All these countries together took approx. X% share of total imports. Oman (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Bahrain (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X), the United Arab Emirates ($X) and Kuwait ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for X% of total imports. Bahrain and Oman lagged somewhat behind, together comprising a further X%.

In terms of the main importing countries, Bahrain, 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 GCC amounted to $X per ton, stabilizing at the previous year. Overall, the import price recorded a perceptible decline. The pace of growth was the most pronounced in 2021 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Bahrain ($X per ton) and Oman ($X per ton), while the United Arab Emirates ($X per ton) and Saudi Arabia ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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