Spain: Cocoa Powder Market 2024

Cocoa Powder Market Size in Spain

In 2022, the Spanish cocoa powder market increased by X% to $X, rising for the fourth year in a row after two years of decline. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs in 2022 and is likely to continue growth in years to come.

Cocoa Powder Production in Spain

In value terms, cocoa powder production rose sharply to $X in 2022 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the production volume increased by X%. Over the period under review, production hit record highs in 2022 and is likely to continue growth in years to come.

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Cocoa Powder Exports

Exports from Spain

In 2022, approx. X tons of cocoa powder (not sweetened) were exported from Spain; waning by X% against 2021 figures. Overall, total exports indicated a pronounced 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. The most prominent rate of growth was recorded in 2017 with an increase of X%. The exports peaked at X tons in 2021, and then shrank in the following year.

In value terms, cocoa powder exports fell to $X in 2022. Over the period under review, exports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when exports increased by X%. As a result, the exports reached the peak of $X, and then declined in the following year.

Exports by Country

The United States (X tons) was the main destination for cocoa powder exports from Spain, accounting for a X% share of total exports. Moreover, cocoa powder exports to the United States exceeded the volume sent to the second major destination, Belgium (X tons), twofold. France (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 the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (X% per year) and France (X% per year).

In value terms, the United States ($X) remains the key foreign market for cocoa powder (not sweetened) exports from Spain, comprising X% of total exports. The second position in the ranking was taken by Egypt ($X), with a X% share of total exports. It was followed by France, with a X% share.

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

Export Prices by Country

The average cocoa powder export price stood at $X per ton in 2022, with an increase of X% against the previous year. In general, the export price, however, recorded a noticeable setback. The most prominent rate of growth was recorded in 2016 when the average export price increased by X% against the previous year. 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 overseas markets. In 2022, amid the top suppliers, the country with the highest price was Chile ($X per ton), while the average price for exports to Portugal ($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 the United States (X%), while the prices for the other major destinations experienced a decline.

Cocoa Powder Imports

Imports into Spain

In 2022, supplies from abroad of cocoa powder (not sweetened) decreased by X% to X tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, imports, however, recorded a prominent increase. The most prominent rate of growth was recorded in 2014 when imports increased by X%. Imports peaked at X tons in 2021, and then reduced dramatically in the following year.

In value terms, cocoa powder imports contracted slightly to $X in 2022. Overall, total imports indicated a pronounced 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 pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at $X in 2021, and then dropped modestly in the following year.

Imports by Country

In 2022, the Netherlands (X tons) constituted the largest supplier of cocoa powder to Spain, accounting for a X% share of total imports. Moreover, cocoa powder imports from the Netherlands exceeded the figures recorded by the second-largest supplier, Germany (X tons), threefold. The third position in this ranking was held by France (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from the Netherlands amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and France (X% per year).

In value terms, the Netherlands ($X) constituted the largest supplier of cocoa powder (not sweetened) to Spain, comprising X% of total imports. The second position in the ranking was held by Germany ($X), with an X% share of total imports. It was followed by Belgium, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the Netherlands stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and Belgium (X% per year).

Import Prices by Country

In 2022, the average cocoa powder import price amounted to $X per ton, growing by X% against the previous year. Overall, the import price, however, recorded a noticeable slump. The pace of growth appeared the most rapid in 2016 when the average import price increased by X%. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Austria ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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