Cocoa Powder Market Overview in Ireland

The Irish cocoa powder market rose markedly to $ in 2019, increasing by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, the total consumption indicated a temperate increase from 2007 to 2019: its value increased at an average annual rate of +% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, consumption decreased by -% against 2017 indices. The most prominent rate of growth was recorded in 2013 with an increase of % against the previous year. Over the period under review, the market hit record highs at $ in 2017; however, from 2018 to 2019, consumption stood at a somewhat lower figure.

In value terms, cocoa powder production expanded markedly to $ in 2019 estimated in export prices. In general, the total production indicated a notable increase from 2007 to 2019: its value increased at an average annual rate of +% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, production increased by +% against 2015 indices. The pace of growth appeared the most rapid in 2013 when the production volume increased by % year-to-year. Over the period under review, production reached the maximum level in 2019 and is likely to see steady growth in the near future.

In 2019, approx. tonnes of cocoa powder (not sweetened) were consumed in Ireland; growing by % on the previous year's figure. In general, consumption recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of % against the previous year. Cocoa powder consumption peaked in 2019 and is expected to retain growth in the immediate term.

The value of the cocoa powder market in Ireland expanded significantly to $ in 2019, picking up by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated measured growth from 2007 to 2019: its value increased at an average annual rate of +% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, consumption decreased by -% against 2017 indices. The most prominent rate of growth was recorded in 2013 with an increase of % year-to-year. Over the period under review, the market attained the maximum level at $ in 2017; however, from 2018 to 2019, consumption remained at a lower figure.

The cocoa powder market is expected to start a downward consumption trend over the next decade. The performance of the market is forecast to decrease slightly, with an anticipated CAGR of -% for the eleven-year period from 2019 to , which is projected to depress the market volume to tonnes by the end of .

In 2019, the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports increased moderately ( percentage point) over the period under review.

Ireland remains a net importer of cocoa powder; in physical and value terms, imports consistently exceeded exports from 2007 to 2019. In 2019, there was a significant trade deficit of tonnes, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.