Azerbaijan: Caramel Market 2025

Caramel Market Size in Azerbaijan

In 2022, the Azerbaijani caramel market increased by X% to $X, rising for the eighth year in a row after two years of decline. In general, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the immediate term.

Caramel Exports

Exports from Azerbaijan

In 2019, approx. X kg of caramel were exported from Azerbaijan; shrinking by X% on the year before. In general, exports saw a dramatic shrinkage. The most prominent rate of growth was recorded in 2018 when exports increased by X%. The exports peaked at X tons in 2015; however, from 2016 to 2019, the exports stood at a somewhat lower figure.

In value terms, caramel exports contracted to $X in 2019. Overall, exports faced a dramatic downturn. The pace of growth appeared the most rapid in 2018 with an increase of X%. Over the period under review, the exports reached the maximum at $X in 2015; however, from 2016 to 2019, the exports remained at a lower figure.

Exports by Country

Russia (X kg) and the United Arab Emirates (X kg) were the main destinations of caramel exports from Azerbaijan.

From 2015 to 2019, the biggest increases were recorded for the United Arab Emirates (with a CAGR of X%).

In value terms, the largest markets for caramel exported from Azerbaijan were the United Arab Emirates ($X) and Russia ($X).

The United Arab Emirates, with a CAGR of X%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review.

Export Prices by Country

The average caramel export price stood at $X per ton in 2019, almost unchanged from the previous year. Over the period under review, the export price enjoyed a significant expansion. The most prominent rate of growth was recorded in 2016 an increase of X% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2017; afterwards, it flattened through to 2019.

There were significant differences in the average prices for the major external markets. In 2019, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Russia totaled $X per ton.

From 2015 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (X%).

Caramel Imports

Imports into Azerbaijan

Caramel imports into Azerbaijan surged to X tons in 2022, with an increase of X% on the previous year. In general, imports, however, recorded a pronounced contraction. The pace of growth appeared the most rapid in 2015 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, caramel imports skyrocketed to $X in 2022. Overall, imports showed buoyant growth. The pace of growth appeared the most rapid in 2019 with an increase of X% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Iran (X tons) constituted the largest supplier of caramel to Azerbaijan, with a X% share of total imports. Moreover, caramel imports from Iran exceeded the figures recorded by the second-largest supplier, Russia (X tons), fourfold. The third position in this ranking was held by China (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Iran amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (X% per year) and China (X% per year).

In value terms, the largest caramel suppliers to Azerbaijan were France ($X), Iran ($X) and Russia ($X), together comprising X% of total imports. Italy, Bulgaria, China, Austria and Slovakia lagged somewhat behind, together accounting for a further X%.

Bulgaria, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average caramel import price stood at $X per ton in 2022, which is down by X% against the previous year. In general, the import price, however, recorded a resilient expansion. The pace of growth was the most pronounced in 2019 when the average import price increased by X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2020 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($X per ton), while the price for Iran ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform