MENA: Cocoa Powder Market 2024

Cocoa Powder Market Size in MENA

The MENA's cocoa powder market shrank to $X in 2022, waning 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 only minor fluctuations being recorded in certain years. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Cocoa Powder Production in MENA

In value terms, cocoa powder production fell rapidly to $X in 2022 estimated in export price. The total production indicated perceptible 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, production increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of X%. As a result, production reached the peak level of $X, and then contracted rapidly in the following year.

Cocoa Powder Exports

Exports in MENA

In 2022, after two years of decline, there was significant growth in shipments abroad of cocoa powder (not sweetened), when their volume increased by X% to X tons. Over the period under review, exports showed a strong expansion. The pace of growth appeared the most rapid in 2017 with an increase of X%. Over the period under review, the exports attained the maximum at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, cocoa powder exports totaled $X in 2022. In general, exports saw a perceptible expansion. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in years to come.

Exports by Country

Turkey dominates exports structure, amounting to X tons, which was near X% of total exports in 2022. It was distantly followed by the United Arab Emirates (X tons), constituting a X% share of total exports. The following exporters - Tunisia (X tons) and Egypt (X tons) - together made up X% of total exports.

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

In value terms, Turkey ($X) remains the largest cocoa powder supplier in MENA, comprising X% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a X% share of total exports. It was followed by Egypt, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Turkey amounted to X%. In the other countries, the average annual rates were as follows: the United Arab Emirates (X% per year) and Egypt (X% per year).

Export Prices by Country

In 2022, the export price in MENA amounted to $X per ton, remaining relatively unchanged against the previous year. In general, the export price recorded a abrupt decline. The pace of growth was the most pronounced in 2021 when the export price increased by X%. Over the period under review, the export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Egypt ($X per ton), while Tunisia ($X per ton) was amongst the lowest.

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

Cocoa Powder Imports

Imports in MENA

In 2022, supplies from abroad of cocoa powder (not sweetened) decreased by X% to X tons, falling for the third consecutive year after three years of growth. Total imports indicated a strong 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 decreased by X% against 2019 indices. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. The volume of import peaked at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, cocoa powder imports contracted modestly to $X in 2022. Total imports indicated noticeable 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 growth pace was the most rapid in 2021 with an increase of X% against the previous year. As a result, imports reached the peak of $X, leveling off in the following year.

Imports by Country

In 2022, Turkey (X tons), distantly followed by Iran (X tons), Egypt (X tons), Algeria (X tons) and Morocco (X tons) represented the major importers of cocoa powder (not sweetened), together mixing up X% of total imports. The United Arab Emirates (X tons), Saudi Arabia (X tons), Israel (X tons), Tunisia (X tons), Syrian Arab Republic (X tons), Jordan (X tons) and Iraq (X tons) took a minor share of total imports.

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

In value terms, the largest cocoa powder importing markets in MENA were Turkey ($X), Iran ($X) and Egypt ($X), together accounting for X% of total imports. Algeria, Morocco, Saudi Arabia, the United Arab Emirates, Israel, Jordan, Tunisia, Syrian Arab Republic and Iraq lagged somewhat behind, together accounting for a further X%.

In terms of the main importing countries, Iraq, with a CAGR of X%, recorded 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

The import price in MENA stood at $X per ton in 2022, almost unchanged from the previous year. Overall, the import price, however, continues to indicate a pronounced curtailment. The pace of growth was the most pronounced in 2021 when the import price increased by X% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Saudi Arabia ($X per ton) and Jordan ($X per ton), while Algeria ($X per ton) and Syrian Arab Republic ($X per ton) were 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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