Ethiopia: Chocolate Market 2024

Chocolate Market Size in Ethiopia

The Ethiopian chocolate market expanded slightly to $X in 2022, growing by 3.6% against the previous year. Overall, consumption continues to indicate a relatively flat trend pattern. Chocolate consumption peaked at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Chocolate Production in Ethiopia

In value terms, chocolate production amounted to $X in 2022 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of 22% against the previous year. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Chocolate Exports

Exports from Ethiopia

Chocolate exports from Ethiopia surged to X tons in 2022, jumping by 46% on 2021. Over the period under review, exports recorded a significant increase. The pace of growth appeared the most rapid in 2020 when exports increased by 599%. As a result, the exports reached the peak of X tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, chocolate exports skyrocketed to $X in 2022. In general, exports showed a prominent expansion. The growth pace was the most rapid in 2020 when exports increased by 883% against the previous year. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Djibouti (X tons) was the main destination for chocolate exports from Ethiopia, accounting for a 96% share of total exports. It was followed by Cote d'Ivoire (X kg), with a 2.9% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Djibouti amounted to +37.2%.

In value terms, Djibouti ($X) remains the key foreign market for chocolate and cocoa products exports from Ethiopia, comprising 94% of total exports. The second position in the ranking was held by Cote d'Ivoire ($X), with a 1.9% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Djibouti stood at +16.9%.

Export Prices by Country

The average chocolate export price stood at $X per ton in 2022, dropping by -7% against the previous year. In general, the export price saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2020 when the average export price increased by 41%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Djibouti ($X per ton), while the average price for exports to Cote d'Ivoire totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Cote d'Ivoire (-3.0%).

Chocolate Imports

Imports into Ethiopia

Chocolate imports into Ethiopia soared to X tons in 2022, picking up by 27% compared with 2021 figures. In general, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when imports increased by 90%. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, chocolate imports rose notably to $X in 2022. Over the period under review, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of 62%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Turkey (X tons) constituted the largest chocolate supplier to Ethiopia, accounting for a 53% share of total imports. Moreover, chocolate imports from Turkey exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), fourfold. The third position in this ranking was taken by Brazil (X tons), with a 4.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Turkey totaled +20.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+7.7% per year) and Brazil (-13.1% per year).

In value terms, the largest chocolate suppliers to Ethiopia were Turkey ($X), the Netherlands ($X) and Germany ($X), together comprising 67% of total imports. Switzerland, Italy, Brazil, India, Singapore, Lebanon, Egypt, the United Arab Emirates, Saudi Arabia and Yemen lagged somewhat behind, together accounting for a further 20%.

The United Arab Emirates, with a CAGR of +37.2%, 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, which is down by -10.7% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average import price increased by 21% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+13.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform