Central Asia: Chocolate Market 2024

Chocolate Market Size in Central Asia

The Central Asian chocolate market rose markedly to $X in 2022, picking up by 6% against the previous year. Overall, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market attained the maximum level in 2022 and is likely to see gradual growth in the near future.

Chocolate Production in Central Asia

In value terms, chocolate production declined modestly to $X in 2022 estimated in export price. The total production indicated a modest expansion from 2012 to 2022: its value increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +3.2% against 2020 indices. The pace of growth was the most pronounced in 2016 when the production volume increased by 59% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2022, production growth failed to regain momentum.

Chocolate Exports

Exports in Central Asia

After three years of decline, shipments abroad of chocolate and cocoa products increased by 15% to X tons in 2022. Total exports indicated a temperate expansion from 2012 to 2022: its volume increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 with an increase of 65%. Over the period under review, the exports attained the peak figure at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, chocolate exports surged to $X in 2022. Total exports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +54.8% against 2020 indices. The pace of growth appeared the most rapid in 2016 when exports increased by 64% against the previous year. The level of export peaked in 2022 and is likely to see gradual growth in the immediate term.

Exports by Country

In 2022, Kazakhstan (X tons) was the major exporter of chocolate and cocoa products, achieving 70% of total exports. It was distantly followed by Uzbekistan (X tons), making up a 25% share of total exports. Kyrgyzstan (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to chocolate exports from Kazakhstan stood at +3.2%. At the same time, Uzbekistan (+11.9%) displayed positive paces of growth. Moreover, Uzbekistan emerged as the fastest-growing exporter exported in Central Asia, with a CAGR of +11.9% from 2012-2022. By contrast, Kyrgyzstan (-14.6%) illustrated a downward trend over the same period. While the share of Uzbekistan (+25 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Kazakhstan (-2.3 p.p.) and Kyrgyzstan (-21.5 p.p.) displayed negative dynamics.

In value terms, Kazakhstan ($X) remains the largest chocolate supplier in Central Asia, comprising 78% of total exports. The second position in the ranking was held by Uzbekistan ($X), with a 19% share of total exports.

In Kazakhstan, chocolate exports increased at an average annual rate of +3.7% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Uzbekistan (+16.6% per year) and Kyrgyzstan (-7.8% per year).

Export Prices by Country

The export price in Central Asia stood at $X per ton in 2022, with an increase of 31% against the previous year. Over the last decade, it increased at an average annual rate of +1.5%. The level of export peaked at $X per ton in 2015; afterwards, it flattened through to 2022.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Kazakhstan ($X per ton), while Kyrgyzstan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kyrgyzstan (+7.9%), while the other leaders experienced more modest paces of growth.

Chocolate Imports

Imports in Central Asia

In 2022, supplies from abroad of chocolate and cocoa products decreased by -1.8% to X tons for the first time since 2016, thus ending a five-year rising trend. The total import volume increased at an average annual rate of +1.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 with an increase of 18%. Over the period under review, imports reached the maximum at X tons in 2021, and then shrank modestly in the following year.

In value terms, chocolate imports rose sharply to $X in 2022. Overall, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 27%. The level of import peaked in 2022 and is likely to see gradual growth in the immediate term.

Imports by Country

Kazakhstan (X tons) and Uzbekistan (X tons) represented the key importers of chocolate and cocoa products in 2022, recording approx. 41% and 28% of total imports, respectively. It was distantly followed by Mongolia (X tons), Kyrgyzstan (X tons) and Tajikistan (X tons), together committing a 27% share of total imports. Turkmenistan (X tons) took a relatively small share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Uzbekistan (with a CAGR of +39.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest chocolate importing markets in Central Asia were Kazakhstan ($X), Uzbekistan ($X) and Mongolia ($X), with a combined 83% share of total imports.

Uzbekistan, with a CAGR of +40.7%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2022, the import price in Central Asia amounted to $X per ton, growing by 15% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The level of import peaked at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Kazakhstan ($X per ton) and Kyrgyzstan ($X per ton), while Tajikistan ($X per ton) and Turkmenistan ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Tajikistan (+2.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :