Bahrain: Chocolate Market 2024

Chocolate Market Size in Bahrain

The Bahraini chocolate market was estimated at $X in 2022, growing by 4.4% against the previous year. Overall, consumption saw pronounced growth. Chocolate consumption peaked in 2022 and is expected to retain growth in the near future.

Chocolate Production in Bahrain

In value terms, chocolate production shrank modestly to $X in 2022 estimated in export price. Over the period under review, production, however, enjoyed a remarkable increase. The growth pace was the most rapid in 2018 with an increase of 222% against the previous year. Chocolate production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Chocolate Exports

Exports from Bahrain

In 2022, overseas shipments of chocolate and cocoa products were finally on the rise to reach X tons after two years of decline. Overall, exports, however, continue to indicate a abrupt decline. The most prominent rate of growth was recorded in 2015 with an increase of 143%. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, chocolate exports soared to $X in 2022. In general, exports, however, continue to indicate a deep reduction. The pace of growth appeared the most rapid in 2019 when exports increased by 76%. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Free Zones (X tons), Saudi Arabia (X tons) and the United Arab Emirates (X tons) were the main destinations of chocolate exports from Bahrain, together comprising 95% of total exports.

From 2012 to 2022, the biggest increases were recorded for Free Zones (with a CAGR of +84.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Free Zones ($X) remains the key foreign market for chocolate and cocoa products exports from Bahrain, comprising 56% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a 25% share of total exports. It was followed by the United Arab Emirates, with a 14% share.

From 2012 to 2022, the average annual growth rate of value to Free Zones amounted to +63.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (-17.7% per year) and the United Arab Emirates (+28.6% per year).

Export Prices by Country

In 2022, the average chocolate export price amounted to $X per ton, picking up by 3.2% against the previous year. Overall, the export price posted mild growth. The pace of growth was the most pronounced in 2017 when the average export price increased by 84% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is likely to continue growth in years to come.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Free Zones ($X per ton), while the average price for exports to Saudi Arabia ($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 Qatar (+8.5%), while the prices for the other major destinations experienced mixed trend patterns.

Chocolate Imports

Imports into Bahrain

In 2022, the amount of chocolate and cocoa products imported into Bahrain reached X tons, with an increase of 11% compared with 2021 figures. The total import volume increased at an average annual rate of +1.3% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2015 with an increase of 14% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, chocolate imports expanded markedly to $X in 2022. The total import value increased at an average annual rate of +3.4% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 38%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Turkey (X tons) constituted the largest chocolate supplier to Bahrain, accounting for a 19% share of total imports. Moreover, chocolate imports from Turkey exceeded the figures recorded by the second-largest supplier, Egypt (X tons), twofold. The United Arab Emirates (X tons) ranked third in terms of total imports with a 7.7% share.

From 2012 to 2022, the average annual growth rate of volume from Turkey totaled +9.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Egypt (+10.2% per year) and the United Arab Emirates (-8.7% per year).

In value terms, Egypt ($X), Turkey ($X) and the Netherlands ($X) constituted the largest chocolate suppliers to Bahrain, together comprising 30% of total imports. Saudi Arabia, Italy, the United Arab Emirates, Poland, Russia, the UK, Germany, Switzerland, Belgium and France lagged somewhat behind, together accounting for a further 53%.

Russia, with a CAGR of +52.1%, saw the highest rates of growth with regard to 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

In 2022, the average chocolate import price amounted to $X per ton, with an increase of 3.7% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.0%. The most prominent rate of growth was recorded in 2014 an increase of 23%. As a result, import price attained the peak level of $X per ton; afterwards, it flattened through to 2022.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+10.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform