The data on Brazilian exports of cocoa powder and cocoa cake to South Korea indicates significant fluctuations in the past. After peaking at 195 metric tons in 2015, the exports saw a sharp decline but have shown a gradual recovery and stabilization from 2018 onwards. In 2023, the volume stood at 101 metric tons, reflecting a 5.21% increase from the previous year. The last two years displayed moderate year-on-year increases, while the five-year CAGR from 2018 to 2023 was 7.61%, indicating moderate growth overall.
Forecasts suggest a minimal annual growth rate, with the volume expected to remain relatively stable at around 102 metric tons by 2028, resulting in a forecasted five-year CAGR of 0.2%. This stabilization reflects a mature phase of the market with lower volatility compared to earlier periods.
Future trends to watch for include:
- Potential impacts of global economic conditions on trade volumes.
- Changes in South Korean consumer demand for cocoa products.
- Developments in sustainable and ethical sourcing practices in Brazil.
- Technological advancements in production and logistics driving efficiency.
