Oman: Chocolate Market 2024

Chocolate Market Size in Oman

The Omani chocolate market surged to $X in 2022, with an increase of 16% against the previous year. In general, consumption enjoyed a resilient expansion. Chocolate consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Chocolate Production in Oman

In value terms, chocolate production expanded sharply to $X in 2022 estimated in export price. Over the period under review, production enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2014 with an increase of 116%. Chocolate production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Chocolate Exports

Exports from Oman

Chocolate exports from Oman contracted significantly to X tons in 2022, falling by -50.2% on the previous year. Over the period under review, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 3,513%. As a result, the exports attained the peak of X tons, and then shrank remarkably in the following year.

In value terms, chocolate exports fell dramatically to $X in 2022. In general, exports continue to indicate a abrupt decline. The growth pace was the most rapid in 2021 with an increase of 3,312%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Yemen (X tons) was the main destination for chocolate exports from Oman, with a 75% share of total exports. Moreover, chocolate exports to Yemen exceeded the volume sent to the second major destination, Pakistan (X tons), more than tenfold. Jordan (X tons) ranked third in terms of total exports with a 6.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Yemen amounted to +79.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Pakistan (-3.1% per year) and Jordan (+98.4% per year).

In value terms, Yemen ($X) remains the key foreign market for chocolate and other food preparations containing cocoa exports from Oman, comprising 46% of total exports. The second position in the ranking was held by Qatar ($X), with an 18% share of total exports. It was followed by Jordan, with a 15% share.

From 2012 to 2022, the average annual growth rate of value to Yemen stood at +65.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Qatar (+47.1% per year) and Jordan (+75.2% per year).

Export Prices by Country

In 2022, the average chocolate export price amounted to $X per ton, rising by 3.4% against the previous year. In general, the export price, however, saw a abrupt decline. The most prominent rate of growth was recorded in 2017 an increase of 12%. As a result, the export price attained the peak level of $X per ton. From 2018 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Qatar ($X per ton), while the average price for exports to Yemen ($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 India (+4.9%), while the prices for the other major destinations experienced mixed trend patterns.

Chocolate Imports

Imports into Oman

Chocolate imports into Oman rose slightly to X tons in 2022, increasing by 2.3% compared with the previous year. Over the period under review, imports recorded buoyant growth. The growth pace was the most rapid in 2014 with an increase of 166% against the previous year. Imports peaked at X tons in 2020; afterwards, it flattened through to 2022.

In value terms, chocolate imports shrank modestly to $X in 2022. Overall, imports saw a strong expansion. The pace of growth appeared the most rapid in 2017 with an increase of 179%. Over the period under review, imports hit record highs at $X in 2021, and then reduced modestly in the following year.

Imports by Country

Saudi Arabia (X tons), the United Arab Emirates (X tons) and China (X tons) were the main suppliers of chocolate imports to Oman, with a combined 82% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Saudi Arabia (with a CAGR of +57.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X) constituted the largest supplier of chocolate and other food preparations containing cocoa to Oman, comprising 57% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 27% share of total imports. It was followed by Poland, with a 5.1% share.

From 2012 to 2022, the average annual growth rate of value from Saudi Arabia amounted to +65.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+18.7% per year) and Poland (+37.6% per year).

Import Prices by Country

The average chocolate import price stood at $X per ton in 2022, falling by -3.6% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 19% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 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 Poland ($X per ton), while the price for China ($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 (+5.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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