Egypt: Chocolate Market 2024

Chocolate Market Size in Egypt

The Egyptian chocolate market fell to $X in 2022, reducing by -2.9% against the previous year. In general, consumption showed a slight curtailment. The pace of growth appeared the most rapid in 2017 with an increase of 8.5% 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 Egypt

In value terms, chocolate production reduced slightly to $X in 2022 estimated in export price. Over the period under review, production showed a pronounced decline. The pace of growth was the most pronounced in 2017 when the production volume increased by 9.6%. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Chocolate Exports

Exports from Egypt

In 2022, exports of chocolate and cocoa products from Egypt skyrocketed to X tons, growing by 31% against the previous year's figure. Over the period under review, total exports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of +6.8% 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 +31.5% against 2020 indices. The growth pace was the most rapid in 2014 with an increase of 65%. Over the period under review, the exports hit record highs at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, chocolate exports skyrocketed to $X in 2022. In general, exports enjoyed a prominent expansion. The pace of growth was the most pronounced in 2014 with an increase of 66%. The exports peaked in 2022 and are likely to see gradual growth in years to come.

Exports by Country

Saudi Arabia (X tons) was the main destination for chocolate exports from Egypt, accounting for a 31% share of total exports. Moreover, chocolate exports to Saudi Arabia exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), threefold. Kuwait (X tons) ranked third in terms of total exports with a 6.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Saudi Arabia stood at +4.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+9.8% per year) and Kuwait (+12.1% per year).

In value terms, Saudi Arabia ($X) remains the key foreign market for chocolate and cocoa products exports from Egypt, comprising 32% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with an 11% share of total exports. It was followed by Kuwait, with a 6.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Saudi Arabia amounted to +7.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+7.7% per year) and Kuwait (+16.9% per year).

Export Prices by Country

The average chocolate export price stood at $X per ton in 2022, shrinking by -6.2% against the previous year. Overall, export price indicated a tangible expansion from 2012 to 2022: its price increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, chocolate export price increased by +135.5% against 2016 indices. The most prominent rate of growth was recorded in 2018 when the average export price increased by 33% against the previous year. The export price peaked at $X per ton in 2021, and then dropped in the following year.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Sudan ($X per ton) and Libya ($X per ton), while the average price for exports to Kenya ($X per ton) and the UK ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Sudan (+10.1%), while the prices for the other major destinations experienced more modest paces of growth.

Chocolate Imports

Imports into Egypt

In 2022, overseas purchases of chocolate and cocoa products increased by 9.9% to X tons, rising for the second year in a row after two years of decline. In general, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when imports increased by 44%. Over the period under review, imports reached the peak figure at X tons in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, chocolate imports totaled $X in 2022. Overall, total imports indicated a slight increase from 2012 to 2022: its value increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +16.7% against 2020 indices. The pace of growth was the most pronounced in 2018 with an increase of 59% against the previous year. Over the period under review, imports reached the maximum at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Saudi Arabia (X tons), Italy (X tons) and Turkey (X tons) were the main suppliers of chocolate imports to Egypt, with a combined 63% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Saudi Arabia (with a CAGR of +41.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), Saudi Arabia ($X) and the Netherlands ($X) appeared to be the largest chocolate suppliers to Egypt, with a combined 60% share of total imports.

Saudi Arabia, with a CAGR of +41.6%, recorded the highest growth rate of the value of imports, among 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 chocolate import price stood at $X per ton in 2022, approximately mirroring the previous year. Overall, the import price, however, enjoyed modest growth. The most prominent rate of growth was recorded in 2019 when the average import price increased by 43% 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 failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+6.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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