Eastern Asia: Cocoa Powder Market 2024

Cocoa Powder Market Size in Eastern Asia

In 2023, the East Asian cocoa powder market increased by X% to $X, rising for the second consecutive year after two years of decline. In general, consumption, however, recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2017 to 2023, the growth of the market failed to regain momentum.

Cocoa Powder Production in Eastern Asia

In value terms, cocoa powder production totaled $X in 2023 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of X%. As a result, production attained the peak level of $X. From 2017 to 2023, production growth remained at a lower figure.

Cocoa Powder Exports

Exports in Eastern Asia

In 2023, approx. X tons of cocoa powder (not sweetened) were exported in Eastern Asia; declining by X% on the year before. Overall, exports recorded a abrupt setback. The most prominent rate of growth was recorded in 2019 when exports increased by X%. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

In value terms, cocoa powder exports reduced to $X in 2023. Over the period under review, exports faced a deep downturn. 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 attained the maximum at $X in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

Exports by Country

China prevails in exports structure, reaching X tons, which was near X% of total exports in 2023. The following exporters - Taiwan (Chinese) (X tons) and South Korea (X tons) - each recorded a X% share of total exports.

From 2012 to 2023, average annual rates of growth with regard to cocoa powder exports from China stood at X%. At the same time, South Korea (X%) and Taiwan (Chinese) (X%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of X% from 2012-2023. While the share of South Korea (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of China (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest cocoa powder supplier in Eastern Asia, comprising X% of total exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a X% share of total exports.

In China, cocoa powder exports decreased by an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Taiwan (Chinese) (X% per year) and South Korea (X% per year).

Export Prices by Country

In 2023, the export price in Eastern Asia amounted to $X per ton, growing by X% against the previous year. Over the period under review, the export price, however, continues to indicate a noticeable shrinkage. The most prominent rate of growth was recorded in 2016 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 2023, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (X%), while the other leaders experienced a decline in the export price figures.

Cocoa Powder Imports

Imports in Eastern Asia

In 2023, after two years of growth, there was decline in supplies from abroad of cocoa powder (not sweetened), when their volume decreased by X% to X tons. Over the period under review, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Over the period under review, imports attained the maximum at X tons in 2018; however, from 2019 to 2023, imports remained at a lower figure.

In value terms, cocoa powder imports declined to $X in 2023. In general, imports saw a pronounced contraction. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2023, imports remained at a lower figure.

Imports by Country

In 2023, China (X tons) and Japan (X tons) were the largest importers of cocoa powder (not sweetened) in Eastern Asia, together amounting to near X% of total imports. South Korea (X tons) took the next position in the ranking, distantly followed by Taiwan (Chinese) (X tons). All these countries together took near X% share of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by South Korea (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Japan ($X) and South Korea ($X) constituted the countries with the highest levels of imports in 2023, together accounting for X% of total imports. These countries were followed by Taiwan (Chinese), which accounted for a further X%.

In terms of the main importing countries, Taiwan (Chinese), 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 a decline in the imports figures.

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2023, with an increase of X% against the previous year. Overall, the import price, however, recorded a perceptible decrease. The most prominent rate of growth was recorded in 2016 an increase of X% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2023, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major importing countries. In 2023, major importing countries recorded the following prices: in Japan ($X per ton) and Taiwan (Chinese) ($X per ton), while China ($X per ton) and South Korea ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform