MENA: Cocoa Paste Market 2024

Cocoa Paste Market Size in MENA

The MENA's cocoa paste market declined to $X in 2023, with a decrease of X% against the previous year. Over the period under review, consumption, however, saw a relatively flat trend pattern. The level of consumption peaked at $X in 2020; however, from 2021 to 2023, consumption remained at a lower figure.

Cocoa Paste Production in MENA

In value terms, cocoa paste production dropped to $X in 2023 estimated in export price. Overall, production saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of X%. The level of production peaked at $X in 2020; however, from 2021 to 2023, production stood at a somewhat lower figure.

Cocoa Paste Exports

Exports in MENA

Cocoa paste exports was estimated at X tons in 2023, increasing by X% against 2022 figures. Total exports indicated a modest increase from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2021 indices. The pace of growth appeared the most rapid in 2022 with an increase of X%. The volume of export peaked in 2023 and is likely to see steady growth in the immediate term.

In value terms, cocoa paste exports soared to $X in 2023. Total exports indicated temperate growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2021 indices. The pace of growth was the most pronounced in 2022 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum in 2023 and are expected to retain growth in the immediate term.

Exports by Country

Turkey represented the main exporting country with an export of about X tons, which finished at X% of total exports. It was distantly followed by the United Arab Emirates (X tons), constituting a X% share of total exports.

From 2012 to 2023, average annual rates of growth with regard to cocoa paste exports from Turkey stood at X%. 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 MENA, with a CAGR of X% from 2012-2023. While the share of the United Arab Emirates (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

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

From 2012 to 2023, the average annual rate of growth in terms of value in Turkey stood at X%.

Export Prices by Country

In 2023, the export price in MENA amounted to $X per ton, increasing by X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2016 when the export price increased by X%. The level of export peaked in 2023 and is expected to retain growth in the near future.

Average prices varied noticeably amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Turkey ($X per ton), while the United Arab Emirates totaled $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Turkey (X%).

Cocoa Paste Imports

Imports in MENA

In 2023, cocoa paste imports in MENA contracted to X tons, shrinking by X% compared with 2022. Total imports indicated a buoyant expansion from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum at X tons in 2021; however, from 2022 to 2023, imports remained at a lower figure.

In value terms, cocoa paste imports amounted to $X in 2023. Total imports indicated prominent growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports decreased by X% against 2021 indices. The growth pace was the most rapid in 2013 with an increase of X%. Over the period under review, imports hit record highs at $X in 2021; however, from 2022 to 2023, imports failed to regain momentum.

Imports by Country

Turkey represented the main importing country with an import of around X tons, which finished at X% of total imports. The United Arab Emirates (X tons) ranks second in terms of the total imports with a X% share, followed by Egypt (X%), Israel (X%) and Algeria (X%). Morocco (X tons) and Iran (X tons) held a relatively small share of total imports.

Imports into Turkey increased at an average annual rate of X% from 2012 to 2023. At the same time, Algeria (X%), Morocco (X%), Egypt (X%), Iran (X%) and Israel (X%) displayed positive paces of growth. Moreover, Algeria emerged as the fastest-growing importer imported in MENA, with a CAGR of X% from 2012-2023. The United Arab Emirates experienced a relatively flat trend pattern. While the share of Turkey (X p.p.) and Algeria (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Israel (X p.p.) and the United Arab Emirates (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported cocoa paste in MENA, comprising X% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with an X% share of total imports. It was followed by Egypt, with a X% share.

From 2012 to 2023, the average annual growth rate of value in Turkey totaled X%. In the other countries, the average annual rates were as follows: the United Arab Emirates (X% per year) and Egypt (X% per year).

Import Prices by Country

In 2023, the import price in MENA amounted to $X per ton, surging by X% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 an increase of X% against the previous year. The level of import peaked at $X per ton in 2016; however, from 2017 to 2023, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2023, major importing countries recorded the following prices: in Israel ($X per ton) and Iran ($X per ton), while Algeria ($X per ton) and the United Arab Emirates ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Turkey (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform