Middle East: Cocoa Powder Market 2024

Cocoa Powder Market Size in the Middle East

The Middle Eastern cocoa powder market shrank to $X in 2022, remaining stable against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Cocoa Powder Production in the Middle East

In value terms, cocoa powder production dropped dramatically to $X in 2022 estimated in export price. The total production 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, production increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the production volume increased by X%. As a result, production attained the peak level of $X, and then reduced markedly in the following year.

Cocoa Powder Exports

Exports in the Middle East

In 2022, shipments abroad of cocoa powder (not sweetened) increased by X% to X tons for the first time since 2019, thus ending a two-year declining trend. In general, exports posted a prominent expansion. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. The volume of export peaked at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, cocoa powder exports expanded to $X in 2022. Over the period under review, exports recorded a noticeable increase. The most prominent rate of growth was recorded in 2016 when exports increased by X% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the near future.

Exports by Country

Turkey prevails in exports structure, finishing at X tons, which was approx. X% of total exports in 2022. It was distantly followed by the United Arab Emirates (X tons), making up an X% share of total exports.

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

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

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

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2022, standing approx. at the previous year. Over the period under review, the export price showed a abrupt setback. The most prominent rate of growth was recorded in 2021 an increase of 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 stood at a somewhat lower figure.

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

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

Cocoa Powder Imports

Imports in the Middle East

In 2022, imports of cocoa powder (not sweetened) in the Middle East totaled X tons, picking up by X% against 2021 figures. 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 decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, cocoa powder imports reached $X in 2022. Total imports indicated measured 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 2014 indices. The most prominent rate of growth was recorded in 2020 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are likely to see steady growth in the near future.

Imports by Country

Turkey represented the key importer of cocoa powder (not sweetened) in the Middle East, with the volume of imports reaching X tons, which was near X% of total imports in 2022. Iran (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by the United Arab Emirates (X%), Saudi Arabia (X%) and Israel (X%). The following importers - Syrian Arab Republic (X tons) and Jordan (X tons) - each finished at a X% share of total imports.

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

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

In terms of the main importing countries, Jordan, 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

In 2022, the import price in the Middle East amounted to $X per ton, remaining relatively unchanged against the previous year. Over the period under review, the import price continues to indicate a noticeable slump. The growth pace was the most rapid in 2021 an increase of X% against the previous year. Over the period under review, import prices attained the maximum 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 Saudi Arabia ($X per ton) and Jordan ($X per ton), while Syrian Arab Republic ($X per ton) and Turkey ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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