Africa: Chocolate Market 2024

Chocolate Market Size in Africa

The African chocolate market shrank to $X in 2022, flattening at the previous year. The total consumption indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +1.1% against 2020 indices. As a result, consumption reached the peak level of $X; afterwards, it flattened through to 2022.

Chocolate Production in Africa

In value terms, chocolate production declined modestly to $X in 2022 estimated in export price. The total production indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by +0.8% against 2020 indices. The pace of growth was the most pronounced in 2014 when the production volume increased by 20%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Chocolate Exports

Exports in Africa

After two years of growth, overseas shipments of chocolate and other food preparations containing cocoa decreased by -19.9% to X tons in 2022. Over the period under review, exports, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2016 with an increase of 414%. The volume of export peaked at X tons in 2021, and then dropped dramatically in the following year.

In value terms, chocolate exports contracted dramatically to $X in 2022. In general, exports, however, saw significant growth. The most prominent rate of growth was recorded in 2016 with an increase of 347% against the previous year. The level of export peaked at $X in 2021, and then fell sharply in the following year.

Exports by Country

Cote d'Ivoire prevails in exports structure, amounting to X tons, which was near 92% of total exports in 2022. It was distantly followed by South Africa (X tons), generating a 7.2% share of total exports.

Cote d'Ivoire was also the fastest-growing in terms of the chocolate and other food preparations containing cocoa exports, with a CAGR of +24.7% from 2012 to 2022. At the same time, South Africa (+7.9%) displayed positive paces of growth. Cote d'Ivoire (+23 p.p.) significantly strengthened its position in terms of the total exports, while South Africa saw its share reduced by -16.1% from 2012 to 2022, respectively.

In value terms, Cote d'Ivoire ($X) remains the largest chocolate supplier in Africa, comprising 90% of total exports. The second position in the ranking was held by South Africa ($X), with an 8.9% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Cote d'Ivoire totaled +24.6%.

Export Prices by Country

The export price in Africa stood at $X per ton in 2022, declining by -3.3% against the previous year. In general, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the export price increased by 11%. Over the period under review, the export prices reached the maximum at $X per ton in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was South Africa ($X per ton), while Cote d'Ivoire amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (-0.1%).

Chocolate Imports

Imports in Africa

In 2022, approx. X tons of chocolate and other food preparations containing cocoa were imported in Africa; falling by -8.4% compared with the previous year's figure. Total imports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +26.1% against 2020 indices. The most prominent rate of growth was recorded in 2013 with an increase of 39% against the previous year. The volume of import peaked at X tons in 2021, and then fell in the following year.

In value terms, chocolate imports reduced to $X in 2022. Total imports indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +31.8% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 49% against the previous year. As a result, imports reached the peak of $X, and then reduced in the following year.

Imports by Country

In 2022, South Africa (X tons), distantly followed by Egypt (X tons), Morocco (X tons), Algeria (X tons), Libya (X tons), Namibia (X tons) and Botswana (X tons) represented the largest importers of chocolate and other food preparations containing cocoa, together achieving 78% of total imports. The following importers - Kenya (X tons), Swaziland (X tons), Tunisia (X tons), Mauritius (X tons) and Senegal (X tons) - together made up 11% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Algeria (with a CAGR of +28.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, South Africa ($X), Egypt ($X) and Morocco ($X) were the countries with the highest levels of imports in 2022, with a combined 53% share of total imports. These countries were followed by Botswana, Algeria, Libya, Namibia, Tunisia, Swaziland, Mauritius, Senegal and Kenya, which together accounted for a further 37%.

Among the main importing countries, Algeria, with a CAGR of +25.1%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Africa amounted to $X per ton, waning by -3.8% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 16%. Over the period under review, import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Botswana ($X per ton), while Algeria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Namibia (+2.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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