Cocoa powder and cake market in SADC

Earlier Report Observations

The cocoa powder and cake market in the SADC region expanded from 9 315 t in 2018 to a peak of 12 177 t in 2021, with strong growth in 2019 and a minor contraction in 2020.

Market volume then fell sharply to 10 044 t in 2022. This period was shaped by the lingering effects of the COVID-19 pandemic, which altered consumer demand and led manufacturers to introduce new cocoa powder products with specific flavors for baking and desserts to adapt to the changing preferences. The market stabilized near 9 895 t in 2023.

Heading into 2024, the market was influenced by global cocoa supply constraints. Severe weather and crop disease in West Africa, a key growing region, drastically reduced supply and caused significant price increases. At the same time, consumer preferences in SADC shifted towards ethically sourced, premium, and sustainable cocoa powder, with growing interest in defatted variants for health-focused applications.

Production cocoa powder and cake in SADC

In kind, 2017-2020, t

Top producers of cocoa powder and cake, 2017-2020

World map of production of cocoa powder and cake, 2017-2020

In 2019, SADC's production of cocoa powder and cake reached its lowest point at 2 525 tonnes. The following year, in 2020, output rose to 2 728 tonnes, marking an 8.0% increase compared to 2019. Looking at the broader period from 2017 to 2020, production grew by 5%, with an average annual growth rate of 1.6%. The highest production level was recorded in 2018 at 2 867 tonnes, which represented a 10.4% increase from the previous year. Conversely, the most significant decline occurred in 2019, when production fell by 11.9%.

Annual dynamics of production in SADC in kind, 2017-2020, t

Exports cocoa powder and cake from SADC

Exports in kind, t

SADC's exports of cocoa powder and cake in kind showed highly volatile trends from 2017 to 2020. In 2020, exports amounted to 1 080 tonnes, which was a dramatic 2 636.3% increase year-on-year. The most substantial decline was recorded in 2019, when exports dropped by 95.5%. In contrast, the largest increase occurred in 2018, with exports surging by 3 240.3%. Over this period, the difference between the peak and trough values reached 41 times, highlighting the market's instability.

Annual dynamics of product's exports from SADC in kind, 2017-2020, t

From 2017 to 2020, Malaysia and the Netherlands were the primary destinations for SADC's cocoa powder and cake exports in kind, together accounting for 2.0% of total export flows.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from SADC in kind, 2017-2020

Exports in value, K $ US

SADC's exports of cocoa powder and cake in value terms grew for the second year in a row. In 2020, exports reached 3 034 thousand US dollars, up 23.2% from 2019. Over the 2017-2020 period, export value increased by 15.2%, with a compound annual growth rate of 4.8%. The lowest value was recorded in 2018 at 2 317 thousand US dollars, which represented a 12.0% decline from the previous year.

Annual dynamics of product's exports from SADC in value, 2017-2020, K $ US

Between 2017 and 2020, the Netherlands and Malaysia were the leading destinations for SADC's cocoa powder and cake exports in value terms, jointly representing 1.6% of total export flows.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from SADC in value, 2017-2020

Imports cocoa powder and cake to SADC

Imports in kind, t

SADC's imports of cocoa powder and cake in kind increased for the second consecutive year. In 2020, imports stood at 8 921 tonnes, rising 6.8% compared to the previous year. Over the 2017-2020 period, imports grew by 11.5%, equivalent to an annualized rate of 3.7%. The lowest import volume was recorded in 2018 at 7 323 tonnes, which marked an 8.4% decrease from 2017. The most significant increase occurred in 2019, with imports climbing by 14.0%.

Annual dynamics of product's imports to SADC in kind, 2017-2020, t

From 2017 to 2020, Malaysia, Indonesia, and Spain were the main sources for SADC's cocoa powder and cake imports in kind. Malaysia accounted for 29.4% of imports, Indonesia for 23.1%, and Spain for 12.7%. Together, these three countries represented 65.2% of total import flows.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to SADC in kind, 2017-2020

Imports in value, K $ US

SADC's imports of cocoa powder and cake in value terms rose for the second year in a row. In 2020, imports totaled 21 390 thousand US dollars, increasing 19.0% from the previous year. Over the 2017-2020 period, import value grew by 11.2%, with a compound annual growth rate of 3.6%. The lowest value was recorded in 2018 at 16 089 thousand US dollars, which reflected a 16.4% decline from 2017.

Annual dynamics of product's imports to SADC in value, 2017-2020, K $ US

Between 2017 and 2020, Malaysia, Indonesia, and Spain were the leading sources for SADC's cocoa powder and cake imports in value terms. Malaysia contributed 27.0% of import value, Indonesia 19.8%, and Spain 11.8%. Collectively, these three countries accounted for 58.6% of total import flows.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to SADC in value, 2017-2020