Kuwait: Chocolate And Confectionery Market 2024

Chocolate And Confectionery Market Size in Kuwait

In 2022, the Kuwaiti chocolate and confectionery market was finally on the rise to reach $X for the first time since 2018, thus ending a three-year declining trend. Overall, consumption recorded a remarkable increase. Chocolate and confectionery consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Chocolate And Confectionery Production in Kuwait

In value terms, chocolate and confectionery production contracted to $X in 2022 estimated in export price. In general, production, however, recorded significant growth. The pace of growth was the most pronounced in 2015 when the production volume increased by 164% against the previous year. Chocolate and confectionery production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Chocolate And Confectionery Exports

Exports from Kuwait

In 2022, shipments abroad of chocolate and confectionery was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports, however, recorded a deep reduction. The most prominent rate of growth was recorded in 2014 when exports increased by 79% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, chocolate and confectionery exports skyrocketed to $X in 2022. Overall, exports showed a tangible expansion. The most prominent rate of growth was recorded in 2014 with an increase of 141% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Qatar (X tons) was the main destination for chocolate and confectionery exports from Kuwait, accounting for a 72% share of total exports. Moreover, chocolate and confectionery exports to Qatar exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), fivefold. The third position in this ranking was taken by the UK (X tons), with a 7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Qatar stood at +144.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (-13.9% per year) and the UK (+94.0% per year).

In value terms, Qatar ($X) remains the key foreign market for chocolate and confectionery exports from Kuwait, comprising 70% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 13% share of total exports. It was followed by the UK, with a 9.5% share.

From 2012 to 2022, the average annual growth rate of value to Qatar stood at +143.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (-5.7% per year) and the UK (+84.1% per year).

Export Prices by Country

The average chocolate and confectionery export price stood at $X per ton in 2022, with an increase of 26% against the previous year. Over the period under review, the export price showed a buoyant expansion. The pace of growth appeared the most rapid in 2020 an increase of 68%. The export price peaked in 2022 and is likely to see steady growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Bahrain ($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 United Arab Emirates (+9.5%), while the prices for the other major destinations experienced mixed trend patterns.

Chocolate And Confectionery Imports

Imports into Kuwait

In 2022, approx. X tons of chocolate and confectionery were imported into Kuwait; growing by 53% against the year before. Overall, imports continue to indicate a resilient increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, chocolate and confectionery imports surged to $X in 2022. Over the period under review, imports showed buoyant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The United Arab Emirates (X tons), Turkey (X tons) and Belgium (X tons) were the main suppliers of chocolate and confectionery imports to Kuwait, together comprising 27% of total imports. The Netherlands, Egypt, Italy, the UK, Germany, the United States, Poland, China, Switzerland and France lagged somewhat behind, together accounting for a further 35%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +20.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest chocolate and confectionery suppliers to Kuwait were the United Arab Emirates ($X), Italy ($X) and Belgium ($X), with a combined 27% share of total imports. The Netherlands, Egypt, the UK, Germany, Turkey, Switzerland, the United States, Poland, China and France lagged somewhat behind, together accounting for a further 35%.

In terms of the main suppliers, China, with a CAGR of +20.7%, recorded 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 average chocolate and confectionery import price stood at $X per ton in 2022, which is down by -10.5% against the previous year. In general, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the average import price increased by 21% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

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 Germany ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+3.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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