Morocco: Chocolate Market 2024

Chocolate Market Size in Morocco

The Moroccan chocolate market reduced modestly to $X in 2022, waning by -3.7% against the previous year. Over the period under review, consumption, however, saw a modest increase. The most prominent rate of growth was recorded in 2019 when the market value increased by 9.6%. Chocolate consumption peaked at $X in 2021, and then declined modestly in the following year.

Chocolate Production in Morocco

In value terms, chocolate production dropped modestly to $X in 2022 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 with an increase of 11% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

Chocolate Exports

Exports from Morocco

In 2022, approx. X tons of chocolate and cocoa products were exported from Morocco; jumping by 35% compared with the previous year's figure. Overall, exports, however, continue to indicate a drastic downturn. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, chocolate exports surged to $X in 2022. Over the period under review, exports, however, saw a perceptible contraction. The growth pace was the most rapid in 2019 when exports increased by 72%. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Mali (X tons), Guinea (X tons) and Congo (X tons) were the main destinations of chocolate exports from Morocco, with a combined 44% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Congo (with a CAGR of +27.2%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for chocolate exported from Morocco were Mali ($X), Tunisia ($X) and Libya ($X), with a combined 39% share of total exports. Guinea, Congo, the Netherlands, Central African Republic, Mauritania, Cameroon, Senegal and Yemen lagged somewhat behind, together accounting for a further 36%.

Congo, with a CAGR of +29.0%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average chocolate export price stood at $X per ton in 2022, falling by -5% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.5%. The growth pace was the most rapid in 2021 an increase of 29% against the previous year. As a result, the export price attained the peak level of $X per ton, and then reduced in the following year.

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 Libya ($X per ton), while the average price for exports to Mauritania ($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 Tunisia (+6.2%), while the prices for the other major destinations experienced more modest paces of growth.

Chocolate Imports

Imports into Morocco

After six years of growth, purchases abroad of chocolate and cocoa products decreased by -5.2% to X tons in 2022. Overall, imports, however, continue to indicate a strong expansion. The growth pace was the most rapid in 2018 when imports increased by 52% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2021, and then contracted in the following year.

In value terms, chocolate imports shrank to $X in 2022. Over the period under review, imports, however, enjoyed a strong expansion. The most prominent rate of growth was recorded in 2018 when imports increased by 35%. Over the period under review, imports hit record highs at $X in 2021, and then shrank in the following year.

Imports by Country

In 2022, Spain (X tons) constituted the largest supplier of chocolate to Morocco, accounting for a 30% share of total imports. Moreover, chocolate imports from Spain exceeded the figures recorded by the second-largest supplier, Italy (X tons), threefold. Belgium (X tons) ranked third in terms of total imports with a 10% share.

From 2012 to 2022, the average annual growth rate of volume from Spain stood at +27.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+11.4% per year) and Belgium (+19.9% per year).

In value terms, Spain ($X) constituted the largest supplier of chocolate and cocoa products to Morocco, comprising 26% of total imports. The second position in the ranking was held by Italy ($X), with a 12% share of total imports. It was followed by Germany, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Spain stood at +30.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+7.9% per year) and Germany (+21.6% per year).

Import Prices by Country

The average chocolate import price stood at $X per ton in 2022, dropping by -3.1% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 an increase of 17% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($X per ton), while the price for Turkey ($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 (+6.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :