Kenya: Chocolate Market 2024

Chocolate Market Size in Kenya

In 2022, after two years of decline, there was significant growth in the Kenyan chocolate market, when its value increased by 8% to $X. In general, consumption enjoyed buoyant growth. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Chocolate Production in Kenya

In value terms, chocolate production reached $X in 2022 estimated in export price. In general, the total production indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +4.3% 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 -2.8% against 2020 indices. The pace of growth appeared the most rapid in 2018 when the production volume increased by 13% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Chocolate Exports

Exports from Kenya

In 2022, overseas shipments of chocolate and cocoa products were finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Overall, exports, however, continue to indicate a abrupt setback. The pace of growth appeared the most rapid in 2019 when exports increased by 86% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, chocolate exports amounted to $X in 2022. Over the period under review, exports, however, saw a dramatic decline. The most prominent rate of growth was recorded in 2019 when exports increased by 62% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Uganda (X tons) was the main destination for chocolate exports from Kenya, with a 31% share of total exports. Moreover, chocolate exports to Uganda exceeded the volume sent to the second major destination, Tanzania (X tons), twofold. Rwanda (X tons) ranked third in terms of total exports with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Uganda totaled -17.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Tanzania (-13.6% per year) and Rwanda (-0.3% per year).

In value terms, Uganda ($X), Tanzania ($X) and Rwanda ($X) constituted the largest markets for chocolate exported from Kenya worldwide, together accounting for 39% of total exports. South Sudan, Zimbabwe, Democratic Republic of the Congo, Seychelles, the UK and the Netherlands lagged somewhat behind, together accounting for a further 5.9%.

Among the main countries of destination, Zimbabwe, with a CAGR of +35.7%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2022, the average chocolate export price amounted to $X per ton, standing approx. at the previous year. Overall, the export price continues to indicate a pronounced descent. The pace of growth was the most pronounced in 2020 an increase of 15% against the previous year. The export price peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Democratic Republic of the Congo ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+0.8%), while the prices for the other major destinations experienced mixed trend patterns.

Chocolate Imports

Imports into Kenya

In 2022, after two years of decline, there was significant growth in purchases abroad of chocolate and cocoa products, when their volume increased by 18% to X tons. In general, total imports indicated resilient growth from 2012 to 2022: its volume 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 decreased by -12.4% against 2019 indices. The pace of growth was the most pronounced in 2013 when imports increased by 45% against the previous year. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, chocolate imports expanded remarkably to $X in 2022. Overall, imports showed resilient growth. The most prominent rate of growth was recorded in 2013 when imports increased by 47%. Over the period under review, imports reached the maximum at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Egypt (X tons), South Africa (X tons) and Turkey (X tons) were the main suppliers of chocolate imports to Kenya, with a combined 56% share of total imports. The Netherlands, Singapore, Italy, the UK, Saudi Arabia, China, Colombia, Poland, Germany and India lagged somewhat behind, together comprising a further 34%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of +52.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, South Africa ($X), Egypt ($X) and the UK ($X) were the largest chocolate suppliers to Kenya, together accounting for 61% of total imports. Italy, Turkey, the Netherlands, Germany, India, Poland, Saudi Arabia, China, Singapore and Colombia lagged somewhat behind, together accounting for a further 29%.

Among the main suppliers, Poland, with a CAGR of +55.0%, saw 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

The average chocolate import price stood at $X per ton in 2022, which is down by -2.8% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the average import price increased by 13% 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.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the UK ($X per ton), while the price for Singapore ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+15.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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