MENA: Chocolate Market 2024

Chocolate Market Size in MENA

The MENA's chocolate market reduced to $X in 2022, falling by -7.2% against the previous year. The total consumption indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by +0.8% against 2020 indices. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Chocolate Production in MENA

In value terms, chocolate production reduced to $X in 2022 estimated in export price. Over the period under review, production, however, posted strong growth. The most prominent rate of growth was recorded in 2017 when the production volume increased by 63%. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Chocolate Exports

Exports in MENA

Chocolate exports amounted to X tons in 2022, growing by 8.9% compared with 2021 figures. The total export volume increased at an average annual rate of +3.4% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The growth pace was the most rapid in 2014 when exports increased by 14% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in years to come.

In value terms, chocolate exports soared to $X in 2022. The total export value increased at an average annual rate of +3.7% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Turkey was the largest exporting country with an export of about X tons, which amounted to 69% of total exports. The United Arab Emirates (X tons) held the second position in the ranking, followed by Egypt (X tons). All these countries together held near 20% share of total exports. Saudi Arabia (X tons) and Jordan (X tons) held a relatively small share of total exports.

Exports from Turkey increased at an average annual rate of +4.8% from 2012 to 2022. At the same time, Jordan (+12.2%), Saudi Arabia (+9.9%) and Egypt (+6.8%) displayed positive paces of growth. Moreover, Jordan emerged as the fastest-growing exporter exported in MENA, with a CAGR of +12.2% from 2012-2022. By contrast, the United Arab Emirates (-2.6%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Turkey and Egypt increased by +8.8 and +2.4 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest chocolate supplier in MENA, comprising 58% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 14% share of total exports. It was followed by Egypt, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Turkey stood at +5.8%. In the other countries, the average annual rates were as follows: the United Arab Emirates (-4.8% per year) and Egypt (+9.5% per year).

Export Prices by Country

In 2022, the export price in MENA amounted to $X per ton, increasing by 6.4% against the previous year. Overall, the export price showed a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+5.2%), while the other leaders experienced more modest paces of growth.

Chocolate Imports

Imports in MENA

In 2022, approx. X tons of chocolate and cocoa products were imported in MENA; with an increase of 4.4% on the previous year. The total import volume increased at an average annual rate of +3.0% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. The pace of growth was the most pronounced in 2019 when imports increased by 18% against the previous year. As a result, imports attained the peak of X tons. From 2020 to 2022, the growth of imports failed to regain momentum.

In value terms, chocolate imports reduced to $X in 2022. The total import value increased at an average annual rate of +2.9% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The growth pace was the most rapid in 2019 with an increase of 20% against the previous year. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Saudi Arabia (X tons), the United Arab Emirates (X tons), Iraq (X tons), Israel (X tons), Yemen (X tons), Turkey (X tons), Libya (X tons), Oman (X tons), Kuwait (X tons), Morocco (X tons), Algeria (X tons) and Egypt (X tons) represented roughly 88% of total imports in 2022.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Morocco (with a CAGR of +11.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), Saudi Arabia ($X) and Israel ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 47% share of total imports. Iraq, Turkey, Libya, Kuwait, Oman, Morocco, Algeria, Egypt and Yemen lagged somewhat behind, together comprising a further 40%.

In terms of the main importing countries, Morocco, with a CAGR of +12.2%, 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

The import price in MENA stood at $X per ton in 2022, dropping by -4.4% against the previous year. Overall, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of 8.5%. As a result, import price reached the peak level of $X per ton, and then shrank in the following year.

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 Oman (+3.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform