Azerbaijan: Market for Chocolate Bars With Fillings 2024

Market Size for Chocolate Bars With Fillings in Azerbaijan

After two years of growth, the Azerbaijani chocolate bar with filling market decreased by -3.9% to $X in 2021. Overall, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2020, and then dropped modestly in the following year.

Production of Chocolate Bars With Fillings in Azerbaijan

In value terms, chocolate bar with filling production fell to $X in 2021 estimated in export price. Over the period under review, production showed a slight decline. The pace of growth appeared the most rapid in 2017 when the production volume increased by 43% against the previous year. Chocolate bar with filling production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Exports of Chocolate Bars With Fillings

Exports from Azerbaijan

For the third year in a row, Azerbaijan recorded growth in shipments abroad of chocolate bars with fillings, which increased by 190% to X tons in 2021. Overall, exports posted significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, chocolate bar with filling exports skyrocketed to $X in 2021. Over the period under review, exports enjoyed prominent growth. The most prominent rate of growth was recorded in 2019 when exports increased by 76% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to see steady growth in the immediate term.

Exports by Country

The United Arab Emirates (X tons), China (X tons) and Iran (X tons) were the main destinations of chocolate bar with filling exports from Azerbaijan, together comprising 90% of total exports.

From 2012 to 2021, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +689,800.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), China ($X) and Palestine ($X) appeared to be the largest markets for chocolate bar with filling exported from Azerbaijan worldwide, with a combined 76% share of total exports.

In terms of the main countries of destination, the United Arab Emirates, with a CAGR of +464,600.0%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average chocolate bar with filling export price stood at $X per ton in 2021, shrinking by -51.6% against the previous year. In general, the export price showed a abrupt slump. The growth pace was the most rapid in 2019 an increase of 39%. As a result, the export price reached the peak level of $X per ton. From 2020 to 2021, the average 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 Tajikistan ($X per ton), while the average price for exports to Iran ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Tajikistan (+25.7%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Chocolate Bars With Fillings

Imports into Azerbaijan

In 2021, approx. X tons of chocolate bars with fillings were imported into Azerbaijan; picking up by 19% against 2020. Overall, imports enjoyed a significant expansion. The pace of growth was the most pronounced in 2016 with an increase of 403%. As a result, imports reached the peak of X tons. From 2017 to 2021, the growth of imports failed to regain momentum.

In value terms, chocolate bar with filling imports expanded markedly to $X in 2021. Over the period under review, imports saw significant growth. The growth pace was the most rapid in 2016 with an increase of 511%. Imports peaked in 2021 and are expected to retain growth in the near future.

Imports by Country

In 2021, Russia (X tons) constituted the largest supplier of chocolate bar with filling to Azerbaijan, with a 80% share of total imports. Moreover, chocolate bar with filling imports from Russia exceeded the figures recorded by the second-largest supplier, Kazakhstan (X tons), more than tenfold. The third position in this ranking was taken by Ukraine (X tons), with a 3.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Russia amounted to +34.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Kazakhstan (+39.2% per year) and Ukraine (+23.0% per year).

In value terms, Russia ($X) constituted the largest supplier of chocolate bars with fillings to Azerbaijan, comprising 81% of total imports. The second position in the ranking was held by Kazakhstan ($X), with a 4.5% share of total imports. It was followed by Ukraine, with a 3.1% share.

From 2012 to 2021, the average annual growth rate of value from Russia stood at +36.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Kazakhstan (+39.7% per year) and Ukraine (+19.5% per year).

Import Prices by Country

In 2021, the average chocolate bar with filling import price amounted to $X per ton, falling by -3.9% against the previous year. Over the last nine years, it increased at an average annual rate of +1.2%. The most prominent rate of growth was recorded in 2014 when the average import price increased by 25%. As a result, import price reached the peak level of $X per ton. From 2015 to 2021, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Russia ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+9.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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