Jordan: Chocolate Market 2024

Chocolate Market Size in Jordan

In 2022, the Jordanian chocolate market decreased by -2.7% to $X, falling for the second year in a row after two years of growth. Over the period under review, consumption, however, recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Chocolate Production in Jordan

In value terms, chocolate production expanded notably to $X in 2022 estimated in export price. Over the period under review, the total production indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -10.1% against 2020 indices. The growth pace was the most rapid in 2020 when the production volume increased by 68% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Chocolate Exports

Exports from Jordan

Chocolate exports from Jordan surged to X tons in 2022, jumping by 124% on 2021 figures. In general, exports enjoyed a remarkable increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, chocolate exports soared to $X in 2022. Over the period under review, exports posted a buoyant increase. The pace of growth was the most pronounced in 2017 with an increase of 116% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Saudi Arabia (X tons) was the main destination for chocolate exports from Jordan, with a 59% share of total exports. Moreover, chocolate exports to Saudi Arabia exceeded the volume sent to the second major destination, Iraq (X tons), fivefold. Palestine (X tons) ranked third in terms of total exports with an 8.2% share.

From 2012 to 2022, the average annual growth rate of volume to Saudi Arabia amounted to +29.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iraq (+1.3% per year) and Palestine (+4.8% per year).

In value terms, Saudi Arabia ($X) remains the key foreign market for chocolate and cocoa products exports from Jordan, comprising 56% of total exports. The second position in the ranking was held by Iraq ($X), with a 13% share of total exports. It was followed by Palestine, with an 8.7% share.

From 2012 to 2022, the average annual growth rate of value to Saudi Arabia totaled +32.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iraq (+17.7% per year) and Palestine (+4.1% per year).

Export Prices by Country

The average chocolate export price stood at $X per ton in 2022, reducing by -4.2% against the previous year. In general, export price indicated modest growth from 2012 to 2022: its price increased at an average annual rate of +1.9% 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 +60.7% against 2018 indices. The pace of growth appeared the most rapid in 2020 when the average export price increased by 23%. The export price peaked at $X per ton in 2021, and then reduced slightly in the following year.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Lebanon ($X per ton) and Israel ($X per ton), while the average price for exports to Morocco ($X per ton) and Saudi Arabia ($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 Iraq (+16.1%), while the prices for the other major destinations experienced more modest paces of growth.

Chocolate Imports

Imports into Jordan

In 2022, imports of chocolate and cocoa products into Jordan shrank to X tons, with a decrease of -13.6% against the year before. The total import volume increased at an average annual rate of +1.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 21% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, chocolate imports fell to $X in 2022. The total import value increased at an average annual rate of +3.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 with an increase of 21%. Over the period under review, imports reached the maximum at $X in 2021, and then reduced in the following year.

Imports by Country

Italy (X tons), the Netherlands (X tons) and the United Arab Emirates (X tons) were the main suppliers of chocolate imports to Jordan, together accounting for 39% of total imports. Lebanon, the UK, Egypt, Belgium, Turkey, Poland, the United States, Germany, Romania and Saudi Arabia lagged somewhat behind, together accounting for a further 49%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Romania (with a CAGR of +53.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), the United Arab Emirates ($X) and the Netherlands ($X) constituted the largest chocolate suppliers to Jordan, together accounting for 40% of total imports. Lebanon, the UK, Egypt, Turkey, Belgium, Poland, the United States, Germany, Romania and Saudi Arabia lagged somewhat behind, together accounting for a further 48%.

Among the main suppliers, Romania, with a CAGR of +60.9%, recorded the highest rates of growth with regard to 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

In 2022, the average chocolate import price amounted to $X per ton, approximately reflecting the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.7%. The most prominent rate of growth was recorded in 2020 an increase of 9.2%. The import price peaked in 2022 and is expected to retain growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+7.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform