Angola: Chocolate Market 2024

Chocolate Market Size in Angola

The Angolan chocolate market fell slightly to $X in 2022, dropping by -1.8% against the previous year. Over the period under review, consumption saw a perceptible setback. The pace of growth appeared the most rapid in 2019 when the market value increased by 5% against the previous year. Chocolate consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Chocolate Production in Angola

In value terms, chocolate production declined slightly to $X in 2022 estimated in export price. Overall, production continues to indicate a noticeable slump. The most prominent rate of growth was recorded in 2019 when the production volume increased by 6%. Chocolate production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Chocolate Exports

Exports from Angola

In 2022, overseas shipments of chocolate and cocoa products were finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. In general, exports recorded significant growth. The most prominent rate of growth was recorded in 2015 with an increase of 711% against the previous year. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, chocolate exports soared to $X in 2022. Overall, exports saw significant growth. The most prominent rate of growth was recorded in 2018 when exports increased by 842%. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Democratic Republic of the Congo (X tons) was the main destination for chocolate exports from Angola, accounting for a 71% share of total exports. Moreover, chocolate exports to Democratic Republic of the Congo exceeded the volume sent to the second major destination, Congo (X tons), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Democratic Republic of the Congo amounted to +60.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Congo (+67.1% per year) and Germany (+112.7% per year).

In value terms, Germany ($X) remains the key foreign market for chocolate and cocoa products exports from Angola, comprising 61% of total exports. The second position in the ranking was held by Democratic Republic of the Congo ($X), with a 19% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Germany totaled +215.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Democratic Republic of the Congo (+54.8% per year) and Congo (+23.0% per year).

Export Prices by Country

In 2022, the average chocolate export price amounted to $X per ton, declining by -53.1% against the previous year. Overall, the export price showed a abrupt contraction. The pace of growth was the most pronounced in 2021 an increase of 160%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Democratic Republic of the Congo ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Guinea-Bissau (+96.2%), while the prices for the other major destinations experienced mixed trend patterns.

Chocolate Imports

Imports into Angola

In 2022, imports of chocolate and cocoa products into Angola shrank remarkably to X tons, which is down by -25.1% compared with 2021. Over the period under review, imports recorded a deep contraction. The most prominent rate of growth was recorded in 2017 when imports increased by 102%. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, chocolate imports reduced remarkably to $X in 2022. Overall, imports faced a abrupt setback. The most prominent rate of growth was recorded in 2021 when imports increased by 87% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

South Africa (X tons), Mexico (X tons) and Turkey (X tons) were the main suppliers of chocolate imports to Angola, together accounting for 53% of total imports. Colombia, Portugal, India, Indonesia, Argentina, Namibia, Tunisia, Brazil, Egypt and China lagged somewhat behind, together accounting for a further 39%.

From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of +46.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, South Africa ($X), Portugal ($X) and Mexico ($X) constituted the largest chocolate suppliers to Angola, together accounting for 51% of total imports. Turkey, Tunisia, Colombia, Argentina, India, Brazil, Indonesia, China, Namibia and Egypt lagged somewhat behind, together accounting for a further 35%.

Among the main suppliers, Indonesia, with a CAGR of +42.4%, 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

The average chocolate import price stood at $X per ton in 2022, rising by 2.5% against the previous year. In general, the import price, however, saw a perceptible downturn. The pace of growth appeared the most rapid in 2014 when the average import price increased by 29% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the average import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Tunisia (+10.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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