Israel: Chocolate Market 2024

Chocolate Market Size in Israel

In 2022, the Israeli chocolate market increased by 6.8% to $X, rising for the second year in a row after two years of decline. In general, consumption showed a relatively flat trend pattern. Chocolate consumption peaked in 2022 and is likely to continue growth in years to come.

Chocolate Production in Israel

In value terms, chocolate production reduced to $X in 2022 estimated in export price. Over the period under review, production saw a pronounced curtailment. The pace of growth was the most pronounced in 2015 when the production volume increased by 112%. As a result, production attained the peak level of $X. From 2016 to 2022, production growth remained at a somewhat lower figure.

Chocolate Exports

Exports from Israel

In 2022, chocolate exports from Israel contracted to X tons, with a decrease of -13.4% compared with the year before. Overall, total exports indicated a moderate expansion from 2012 to 2022: its volume increased at an average annual rate of +2.2% 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 +16.0% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 34% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, chocolate exports contracted to $X in 2022. The total export value 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 growth pace was the most rapid in 2021 when exports increased by 40% against the previous year. As a result, the exports reached the peak of $X, and then contracted in the following year.

Exports by Country

The United States (X tons) was the main destination for chocolate exports from Israel, accounting for a 77% share of total exports. Moreover, chocolate exports to the United States exceeded the volume sent to the second major destination, the UK (X tons), tenfold. Chile (X tons) ranked third in terms of total exports with a 5.9% share.

From 2012 to 2022, the average annual growth rate of volume to the United States totaled +2.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+5.3% per year) and Chile (+151.6% per year).

In value terms, the United States ($X) remains the key foreign market for chocolate and cocoa products exports from Israel, comprising 77% of total exports. The second position in the ranking was taken by the UK ($X), with a 7.5% share of total exports. It was followed by Chile, with a 5.9% share.

From 2012 to 2022, the average annual growth rate of value to the United States totaled +2.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+6.7% per year) and Chile (+135.5% per year).

Export Prices by Country

The average chocolate export price stood at $X per ton in 2022, approximately mirroring the previous year. In general, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the average export price increased by 12%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to France ($X per ton) and the United States ($X per ton), while the average price for exports to Canada ($X per ton) and the UK ($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 the UK (+1.4%), while the prices for the other major destinations experienced a decline.

Chocolate Imports

Imports into Israel

Chocolate imports into Israel totaled X tons in 2022, picking up by 14% on 2021. Over the period under review, imports posted a buoyant expansion. The growth pace was the most rapid in 2016 with an increase of 38% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, chocolate imports surged to $X in 2022. Overall, total imports indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +8.2% 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 +120.1% against 2012 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Italy (X tons), Germany (X tons) and Belgium (X tons) were the main suppliers of chocolate imports to Israel, together accounting for 52% of total imports. Switzerland, the Netherlands, Spain, France, Turkey, the United States, Poland, South Africa, the UK and Ukraine lagged somewhat behind, together accounting for a further 37%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by France (with a CAGR of +34.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), Germany ($X) and Belgium ($X) constituted the largest chocolate suppliers to Israel, with a combined 51% share of total imports. Switzerland, the Netherlands, Spain, France, Turkey, the United States, Poland, South Africa, the UK and Ukraine lagged somewhat behind, together comprising a further 38%.

France, with a CAGR of +30.0%, recorded the highest rates of growth with regard to 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, picking up by 1.6% against the previous year. In general, the import price, however, recorded a mild slump. The growth pace was the most rapid in 2017 when the average import price increased by 22% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Poland ($X per ton) and Switzerland ($X per ton), while the price for Belgium ($X per ton) and Germany ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+3.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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