Saudi Arabia: Market for Cocoa Powder (Containing Added Sugar) 2024

Market Size for Cocoa Powder (Containing Added Sugar) in Saudi Arabia

For the third consecutive year, the Saudi cocoa powder with sugar market recorded decline in sales value, which decreased by X% to $X in 2022. Overall, consumption showed resilient growth. Cocoa powder with sugar consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Production of Cocoa Powder (Containing Added Sugar) in Saudi Arabia

In value terms, cocoa powder with sugar production dropped to $X in 2022 estimated in export price. In general, production saw buoyant growth. The most prominent rate of growth was recorded in 2017 when the production volume increased by X%. Cocoa powder with sugar production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

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Exports of Cocoa Powder (Containing Added Sugar)

Exports from Saudi Arabia

In 2022, shipments abroad of cocoa powder (containing added sugar) increased by X% to X tons, rising for the second year in a row after three years of decline. In general, exports posted a mild expansion. The pace of growth appeared the most rapid in 2021 with an increase of X%. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, cocoa powder with sugar exports expanded notably to $X in 2022. Over the period under review, exports saw a remarkable increase. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

Kuwait (X tons) was the main destination for cocoa powder with sugar exports from Saudi Arabia, accounting for a X% share of total exports. Moreover, cocoa powder with sugar exports to Kuwait exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), threefold. Iraq (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 Kuwait totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (X% per year) and Iraq (X% per year).

In value terms, Kuwait ($X) emerged as the key foreign market for cocoa powder (containing added sugar) exports from Saudi Arabia, comprising X% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a X% share of total exports. It was followed by Iraq, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Kuwait stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (X% per year) and Iraq (X% per year).

Export Prices by Country

The average cocoa powder with sugar export price stood at $X per ton in 2022, with a decrease of X% against the previous year. Overall, the export price, however, continues to indicate a measured expansion. The most prominent rate of growth was recorded in 2014 when the average export price increased by X%. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Kuwait ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Oman (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Cocoa Powder (Containing Added Sugar)

Imports into Saudi Arabia

In 2020, supplies from abroad of cocoa powder (containing added sugar) decreased by X% to X tons, falling for the fourth consecutive year after five years of growth. In general, imports saw a deep downturn. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. Imports peaked at X tons in 2016; however, from 2017 to 2020, imports remained at a lower figure.

In value terms, cocoa powder with sugar imports shrank dramatically to $X in 2020. Overall, imports showed a deep setback. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. Imports peaked at $X in 2016; however, from 2017 to 2020, imports remained at a lower figure.

Imports by Country

Turkey (X tons) and the United States (X tons) were the main suppliers of cocoa powder with sugar imports to Saudi Arabia.

From 2012 to 2020, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of X%).

In value terms, Turkey ($X) constituted the largest supplier of cocoa powder (containing added sugar) to Saudi Arabia, comprising X% of total imports. The second position in the ranking was held by the United States ($X), with a X% share of total imports.

From 2012 to 2020, the average annual growth rate of value from Turkey totaled X%.

Import Prices by Country

In 2020, the average cocoa powder with sugar import price amounted to $X per ton, stabilizing at the previous year. Over the period from 2012 to 2020, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2016 an increase of X%. As a result, import price attained the peak level of $X per ton. From 2017 to 2020, the average import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2020, amid the top importers, the country with the highest price was Turkey ($X per ton), while the price for the United States totaled $X per ton.

From 2012 to 2020, the most notable rate of growth in terms of prices was attained by Turkey (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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