Saudi Arabia: Cocoa Powder Market 2024

Cocoa Powder Market Size in Saudi Arabia

The Saudi cocoa powder market contracted to $X in 2022, declining by X% against the previous year. Overall, the total consumption indicated a tangible 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. Over the period under review, the market attained the maximum level at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Cocoa Powder Production in Saudi Arabia

In value terms, cocoa powder production contracted to $X in 2022 estimated in export price. In general, the total production indicated a measured increase 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 with an increase of X%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

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Cocoa Powder Exports

Exports from Saudi Arabia

In 2022, cocoa powder exports from Saudi Arabia soared to X tons, with an increase of X% compared with the previous year's figure. In general, exports recorded buoyant growth. The growth pace was the most rapid in 2020 when exports increased by X% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, cocoa powder exports reduced modestly to $X in 2022. Over the period under review, exports posted a remarkable increase. The growth pace was the most rapid in 2020 with an increase of X%. The exports peaked at $X in 2021, and then contracted modestly in the following year.

Exports by Country

The United Arab Emirates (X tons), Iraq (X tons) and Bahrain (X tons) were the main destinations of cocoa powder exports from Saudi Arabia, with a combined X% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United Arab Emirates (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) remains the key foreign market for cocoa powder (not sweetened) exports from Saudi Arabia, comprising X% of total exports. The second position in the ranking was taken by Iraq ($X), with a X% share of total exports. It was followed by Bahrain, with a X% share.

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

Export Prices by Country

In 2022, the average cocoa powder export price amounted to $X per ton, declining by X% against the previous year. Over the period under review, export price indicated a notable expansion from 2012 to 2022: its price 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, cocoa powder export price decreased by X% against 2019 indices. The pace of growth appeared the most rapid in 2017 an increase of X% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2019; however, from 2020 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 Sudan ($X per ton), while the average price for exports to Somalia ($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 Sudan (X%), while the prices for the other major destinations experienced mixed trend patterns.

Cocoa Powder Imports

Imports into Saudi Arabia

After three years of growth, purchases abroad of cocoa powder (not sweetened) decreased by X% to X tons in 2022. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by X%. As a result, imports reached the peak of X tons, and then contracted in the following year.

In value terms, cocoa powder imports contracted to $X in 2022. In general, imports saw a pronounced shrinkage. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Spain (X tons), Malaysia (X tons) and the Netherlands (X tons) were the main suppliers of cocoa powder imports to Saudi Arabia, with a combined X% share of total imports. Turkey, Singapore, Germany, France and the United States lagged somewhat behind, together comprising a further X%.

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

In value terms, the largest cocoa powder suppliers to Saudi Arabia were Spain ($X), Germany ($X) and the Netherlands ($X), with a combined X% share of total imports. Malaysia, Singapore, Turkey, France and the United States lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, the United States, 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

The average cocoa powder import price stood at $X per ton in 2022, shrinking by X% against the previous year. Over the period under review, the import price recorded a pronounced setback. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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