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

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

After three years of decline, the Saudi cocoa powder with sugar market increased by X% to $X in 2023. Overall, consumption recorded a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2023, consumption stood at a somewhat lower figure.

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

In value terms, cocoa powder with sugar production contracted to $X in 2023 estimated in export price. In general, production, however, recorded a tangible expansion. The most prominent rate of growth was recorded in 2016 when the production volume increased by X%. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2023, production remained at a lower figure.

Exports of Cocoa Powder (Containing Added Sugar)

Exports from Saudi Arabia

In 2023, overseas shipments of cocoa powder (containing added sugar) decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. Overall, exports, however, posted a prominent expansion. The pace of growth appeared the most rapid in 2022 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons, and then dropped notably in the following year.

In value terms, cocoa powder with sugar exports reduced dramatically to $X in 2023. Over the period under review, exports, however, posted a remarkable increase. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, the exports reached the maximum at $X in 2022, and then dropped rapidly in the following year.

Exports by Country

The United Arab Emirates (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 the United Arab Emirates exceeded the volume sent to the second major destination, Iraq (X tons), twofold. Bahrain (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2023, the average annual growth rate of volume to the United Arab Emirates totaled 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).

In value terms, the United Arab Emirates ($X), Iraq ($X) and Bahrain ($X) appeared to be the largest markets for cocoa powder with sugar exported from Saudi Arabia worldwide, together accounting for X% of total exports.

Among the main countries of destination, Bahrain, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the average cocoa powder with sugar export price amounted to $X per ton, rising by X% against the previous year. Over the period under review, the export price showed a notable increase. The growth pace was the most rapid in 2016 when the average export price increased by X% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2018; however, from 2019 to 2023, the export prices failed to regain momentum.

Average prices varied somewhat for the major export markets. In 2023, amid the top suppliers, the highest price was recorded for prices to Iraq ($X per ton) and Yemen ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) and Bahrain ($X per ton) were amongst the lowest.

From 2012 to 2023, 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 year in a row after five years of growth. In general, imports continue to indicate a abrupt downturn. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. Imports peaked at X tons in 2016; however, from 2017 to 2020, imports failed to regain momentum.

In value terms, cocoa powder with sugar imports shrank significantly to $X in 2020. Overall, imports continue to indicate a deep downturn. The most prominent rate of growth was recorded in 2015 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2016; however, from 2017 to 2020, imports failed to regain momentum.

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 biggest increases were recorded for Turkey (with a CAGR of X%).

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

From 2012 to 2020, the average annual rate of growth in terms 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, reducing by X% against the previous year. Over the last eight-year period, it increased at an average annual rate of X%. The growth pace was the most rapid in 2016 when the average import price increased by X%. Over the period under review, average import prices attained the maximum at $X per ton in 2019, and then contracted slightly in the following year.

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 stood at $X per ton.

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

Source: IndexBox Platform