GCC: Market for Chocolate Bars With Fillings 2024

Market Size for Chocolate Bars With Fillings in GCC

In 2021, the GCC chocolate bar with filling market decreased by -8.2% to $X for the first time since 2018, thus ending a two-year rising trend. The total consumption indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +5.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +22.7% against 2018 indices. As a result, consumption reached the peak level of $X, and then contracted in the following year.

Production of Chocolate Bars With Fillings in GCC

In value terms, chocolate bar with filling production shrank dramatically to $X in 2021 estimated in export price. Over the period under review, production, however, showed moderate growth. The most prominent rate of growth was recorded in 2020 when the production volume increased by 103%. As a result, production reached the peak level of $X, and then declined notably in the following year.

Exports of Chocolate Bars With Fillings

Exports in GCC

In 2021, the amount of chocolate bars with fillings exported in GCC stood at X tons, growing by 15% against the year before. In general, exports, however, faced a abrupt curtailment. The most prominent rate of growth was recorded in 2019 when exports increased by 29%. The volume of export peaked at X tons in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

In value terms, chocolate bar with filling exports rose rapidly to $X in 2021. Over the period under review, exports, however, saw a deep contraction. The pace of growth was the most pronounced in 2019 when exports increased by 39%. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, the United Arab Emirates (X tons) represented the major exporter of chocolate bars with fillings, constituting 64% of total exports. Oman (X tons) held a 23% share (based on physical terms) of total exports, which put it in second place, followed by Saudi Arabia (12%). Bahrain (X tons) took a little share of total exports.

Exports from the United Arab Emirates decreased at an average annual rate of -14.4% from 2012 to 2021. At the same time, Oman (+9.1%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of +9.1% from 2012-2021. By contrast, Saudi Arabia (-4.9%) and Bahrain (-11.3%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Oman and Saudi Arabia increased by +19 and +5.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest chocolate bar with filling supplier in GCC, comprising 80% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a 14% share of total exports. It was followed by Oman, with a 4.1% share.

From 2012 to 2021, the average annual growth rate of value in the United Arab Emirates amounted to -12.9%. The remaining exporting countries recorded the following average annual rates of exports growth: Saudi Arabia (+0.6% per year) and Oman (-3.4% per year).

Export Prices by Country

The export price in GCC stood at $X per ton in 2021, which is down by -2.8% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2016 an increase of 8.8%. Over the period under review, the export prices attained the maximum at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bahrain (+8.3%), while the other leaders experienced more modest paces of growth.

Imports of Chocolate Bars With Fillings

Imports in GCC

In 2021, approx. X tons of chocolate bars with fillings were imported in GCC; jumping by 19% on the previous year's figure. Overall, imports, however, continue to indicate a relatively flat trend pattern. Over the period under review, imports attained the maximum at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, chocolate bar with filling imports surged to $X in 2021. Over the period under review, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when imports increased by 30% against the previous year. As a result, imports attained the peak of $X. From 2020 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, the United Arab Emirates (X tons) was the largest importer of chocolate bars with fillings, generating 48% of total imports. Kuwait (X tons) ranks second in terms of the total imports with a 20% share, followed by Saudi Arabia (16%), Oman (11%) and Bahrain (4.9%).

The United Arab Emirates was also the fastest-growing in terms of the chocolate bars with fillings imports, with a CAGR of +7.0% from 2012 to 2021. At the same time, Oman (+6.2%), Kuwait (+2.1%) and Bahrain (+1.8%) displayed positive paces of growth. By contrast, Saudi Arabia (-11.3%) illustrated a downward trend over the same period. The United Arab Emirates (+23 p.p.), Oman (+4.7 p.p.) and Kuwait (+3.9 p.p.) significantly strengthened its position in terms of the total imports, while Saudi Arabia saw its share reduced by -30% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest chocolate bar with filling importing markets in GCC were the United Arab Emirates ($X), Kuwait ($X) and Saudi Arabia ($X), with a combined 83% share of total imports. These countries were followed by Oman and Bahrain, which together accounted for a further 17%.

In terms of the main importing countries, Oman, with a CAGR of +8.6%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in GCC stood at $X per ton in 2021, remaining relatively unchanged against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 an increase of 18%. Over the period under review, import prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bahrain (+3.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform