MENA: Market for Chocolate Bars with Cereals, Fruit or Nuts 2024

Market Size for Chocolate Bars with Cereals, Fruit or Nuts in MENA

In 2022, the MENA's market for chocolate bars with cereals, fruit or nuts was finally on the rise to reach $X after two years of decline. The market value increased at an average annual rate of +1.5% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Production of Chocolate Bars with Cereals, Fruit or Nuts in MENA

In value terms, production of chocolate bars with cereals, fruit or nuts declined modestly to $X in 2022 estimated in export price. Overall, production recorded a measured expansion. The most prominent rate of growth was recorded in 2018 when the production volume increased by 72%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Exports of Chocolate Bars with Cereals, Fruit or Nuts

Exports in MENA

In 2022, after six years of growth, there was significant decline in overseas shipments of chocolate bars with cereals, fruit or nuts, when their volume decreased by -31.2% to X tons. Over the period under review, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 19% against the previous year. The volume of export peaked at X tons in 2021, and then declined significantly in the following year.

In value terms, exports of chocolate bars with cereals, fruit or nuts dropped rapidly to $X in 2022. Total exports indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 37%. Over the period under review, the exports of attained the maximum at $X in 2021, and then contracted rapidly in the following year.

Exports by Country

Turkey was the main exporter of chocolate bars with cereals, fruit or nuts in MENA, with the volume of exports reaching X tons, which was near 62% of total exports in 2022. Egypt (X tons) held a 21% share (based on physical terms) of total exports, which put it in second place, followed by Tunisia (6.4%). The United Arab Emirates (X tons) held a minor share of total exports.

Exports from Turkey increased at an average annual rate of +3.1% from 2012 to 2022. At the same time, Egypt (+9.8%) displayed positive paces of growth. Moreover, Egypt emerged as the fastest-growing exporter exported in MENA, with a CAGR of +9.8% from 2012-2022. By contrast, Tunisia (-11.1%) and the United Arab Emirates (-16.9%) illustrated a downward trend over the same period. Turkey (+19 p.p.) and Egypt (+13 p.p.) significantly strengthened its position in terms of the total exports, while Tunisia and the United Arab Emirates saw its share reduced by -13.1% and -18.8% from 2012 to 2022, respectively.

In value terms, Turkey ($X), Egypt ($X) and the United Arab Emirates ($X) appeared to be the countries with the highest levels of exports in 2022, together comprising 89% of total exports.

Among the main exporting countries, Egypt, with a CAGR of +13.0%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2022, the export price in MENA amounted to $X per ton, remaining constant against the previous year. Over the last decade, it increased at an average annual rate of +2.8%. The most prominent rate of growth was recorded in 2014 when the export price increased by 23% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Egypt ($X per ton), while Tunisia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Tunisia (+3.6%), while the other leaders experienced more modest paces of growth.

Imports of Chocolate Bars with Cereals, Fruit or Nuts

Imports in MENA

In 2022, the amount of chocolate bars with cereals, fruit or nuts imported in MENA shrank to X tons, waning by -12.1% against the previous year. Total imports indicated tangible growth from 2012 to 2022: its volume increased at an average annual rate of +3.1% 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 +40.8% against 2018 indices. The pace of growth appeared the most rapid in 2019 when imports increased by 39%. The volume of import peaked at X tons in 2021, and then shrank in the following year.

In value terms, imports of chocolate bars with cereals, fruit or nuts declined modestly to $X in 2022. Total imports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +5.3% 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 +50.3% against 2018 indices. The most prominent rate of growth was recorded in 2019 with an increase of 51%. The level of import peaked at $X in 2021, and then dropped in the following year.

Imports by Country

In 2022, the United Arab Emirates (X tons), Saudi Arabia (X tons), Israel (X tons), Iraq (X tons), Turkey (X tons), Morocco (X tons), Libya (X tons), Lebanon (X tons), Egypt (X tons), Yemen (X tons), Kuwait (X tons) and Algeria (X tons) represented the key importer of chocolate bars with cereals, fruit or nuts in MENA, creating 90% of total import.

From 2012 to 2022, the biggest increases were recorded for Egypt (with a CAGR of +33.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported chocolate bars with cereals, fruit or nuts in MENA, comprising 24% of total imports. The second position in the ranking was taken by Israel ($X), with an 11% share of total imports. It was followed by Saudi Arabia, with a 10% share.

In the United Arab Emirates, imports of chocolate bars with cereals, fruit or nuts expanded at an average annual rate of +10.2% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Israel (+13.9% per year) and Saudi Arabia (-3.9% per year).

Import Prices by Country

In 2022, the import price in MENA amounted to $X per ton, picking up by 11% against the previous year. Over the last decade, it increased at an average annual rate of +2.1%. The level of import peaked at $X per ton in 2019; however, from 2020 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while Yemen ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Libya (+8.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform