Pakistan: Chocolate Market 2024

Chocolate Market Size in Pakistan

The Pakistani chocolate market amounted to $X in 2022, with an increase of 4.4% against the previous year. Over the period under review, consumption continues to indicate a resilient increase. Chocolate consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Chocolate Production in Pakistan

In value terms, chocolate production rose significantly to $X in 2022 estimated in export price. Overall, production showed a remarkable increase. The pace of growth was the most pronounced in 2017 when the production volume increased by 58% against the previous year. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Chocolate Exports

Exports from Pakistan

In 2022, chocolate exports from Pakistan surged to X tons, jumping by 105% compared with 2021. In general, exports saw a significant increase. The most prominent rate of growth was recorded in 2017 with an increase of 538% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the near future.

In value terms, chocolate exports surged to $X in 2022. Overall, exports continue to indicate a significant increase. The pace of growth appeared the most rapid in 2017 when exports increased by 1,047% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Qatar (X tons), the United Arab Emirates (X tons) and Maldives (X tons) were the main destinations of chocolate exports from Pakistan, with a combined 99% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Maldives (with a CAGR of +232.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Qatar ($X), the United Arab Emirates ($X) and Maldives ($X) appeared to be the largest markets for chocolate exported from Pakistan worldwide, together accounting for 99% of total exports.

Maldives, with a CAGR of +194.2%, 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

In 2022, the average chocolate export price amounted to $X per ton, declining by -6.7% against the previous year. Overall, the export price, however, continues to indicate a temperate expansion. The pace of growth appeared the most rapid in 2017 when the average export price increased by 80% against the previous year. The export price peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Qatar ($X per ton), while the average price for exports to the United Arab Emirates ($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 (+4.3%), while the prices for the other major destinations experienced mixed trend patterns.

Chocolate Imports

Imports into Pakistan

In 2022, supplies from abroad of chocolate and cocoa products increased by 12% to X tons, rising for the second consecutive year after two years of decline. In general, imports showed a strong expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 61%. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, chocolate imports expanded sharply to $X in 2022. Over the period under review, imports posted resilient growth. The most prominent rate of growth was recorded in 2021 when imports increased by 73% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Australia (X tons), Egypt (X tons) and Malaysia (X tons) were the main suppliers of chocolate imports to Pakistan, with a combined 52% 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 Egypt (with a CAGR of +78.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Australia ($X), the United Arab Emirates ($X) and Egypt ($X) appeared to be the largest chocolate suppliers to Pakistan, with a combined 52% share of total imports.

In terms of the main suppliers, Egypt, with a CAGR of +71.4%, 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

In 2022, the average chocolate import price amounted to $X per ton, declining by -5.4% against the previous year. In general, the import price showed a mild downturn. The most prominent rate of growth was recorded in 2020 when the average import price increased by 18% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a 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 the United Arab Emirates ($X per ton), while the price for Indonesia ($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 (+4.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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