Guatemala: Cocoa Powder Market 2024

Cocoa Powder Market Size in Guatemala

The Guatemalan cocoa powder market expanded to $X in 2022, increasing by X% against the previous year. Overall, the total consumption indicated modest 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, consumption decreased by X% against 2020 indices. Over the period under review, the market reached the peak level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Cocoa Powder Production in Guatemala

In value terms, cocoa powder production rose markedly to $X in 2022 estimated in export price. Over the period under review, production saw a mild expansion. The most prominent rate of growth was recorded in 2015 when the production volume increased by X%. Cocoa powder production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Cocoa Powder Exports

Exports from Guatemala

In 2022, shipments abroad of cocoa powder (not sweetened) increased by X% to X tons, rising for the second year in a row after two years of decline. In general, exports continue to indicate significant growth. The pace of growth appeared the most rapid in 2013 with an increase of X%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, cocoa powder exports soared to $X in 2022. Over the period under review, exports continue to indicate a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Mexico (X tons) was the main destination for cocoa powder exports from Guatemala, accounting for a X% share of total exports. Moreover, cocoa powder exports to Mexico exceeded the volume sent to the second major destination, El Salvador (X tons), threefold. Honduras (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Mexico totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: El Salvador (X% per year) and Honduras (X% per year).

In value terms, Mexico ($X) remains the key foreign market for cocoa powder (not sweetened) exports from Guatemala, comprising X% of total exports. The second position in the ranking was held by El Salvador ($X), with an X% share of total exports. It was followed by Honduras, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Mexico amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: El Salvador (X% per year) and Honduras (X% per year).

Export Prices by Country

In 2022, the average cocoa powder export price amounted to $X per ton, surging by X% against the previous year. Over the period under review, the export price, however, saw a mild shrinkage. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Mexico ($X per ton), while the average price for exports to El Salvador ($X per ton) was amongst the lowest.

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

Cocoa Powder Imports

Imports into Guatemala

In 2022, supplies from abroad of cocoa powder (not sweetened) decreased by X% to X tons for the first time since 2013, thus ending a eight-year rising trend. In general, total imports 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, imports increased by X% against 2013 indices. The growth pace was the most rapid in 2014 with an increase of X%. Over the period under review, imports attained the peak figure at X tons in 2021, and then dropped modestly in the following year.

In value terms, cocoa powder imports surged to $X in 2022. Overall, total imports indicated a perceptible 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 2018 indices. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

Imports by Country

Mexico (X tons), Spain (X tons) and the United States (X tons) were the main suppliers of cocoa powder imports to Guatemala, together accounting for X% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Mexico (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 Guatemala were Mexico ($X), Spain ($X) and the United States ($X), with a combined X% share of total imports. Malaysia, the Netherlands, Peru and Ecuador lagged somewhat behind, together comprising a further X%.

In terms of the main suppliers, Peru, 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

In 2022, the average cocoa powder import price amounted to $X per ton, picking up by X% against the previous year. In general, the import price, however, saw a slight downturn. The import price 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 supplying countries. In 2022, amid the top importers, the countries with the highest prices were the United States ($X per ton) and the Netherlands ($X per ton), while the price for Mexico ($X per ton) and Malaysia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Peru (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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