South Africa: Caramel Market 2022

Caramel Market Size in South Africa

In 2020, the South African caramel market decreased by -X% to $X, falling for the second consecutive year after four years of growth. In general, consumption, however, saw a abrupt decrease. The growth pace was the most rapid in 2018 when the market value increased by X% year-to-year. Caramel consumption peaked at $X in 2007; however, from 2008 to 2020, consumption failed to regain the momentum.

Caramel Production in South Africa

In value terms, caramel production declined dramatically to $X in 2020 estimated in export prices. Over the period under review, production saw a precipitous shrinkage. The most prominent rate of growth was recorded in 2018 with an increase of X% year-to-year. Over the period under review, production hit record highs at $X in 2008; however, from 2009 to 2020, production failed to regain the momentum.

Caramel Exports

Exports from South Africa

In 2020, caramel exports from South Africa shrank markedly to X tons, waning by -X% on the previous year. In general, exports, however, enjoyed a measured increase. The most prominent rate of growth was recorded in 2010 when exports increased by X% against the previous year. As a result, exports attained the peak of X tons. from 2011 to 2020, the growth exports remained at a lower figure.

In value terms, caramel exports reduced slightly to $X in 2020. The total export value increased at an average annual rate of +X% from 2007 to 2020; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2008 with an increase of X% against the previous year. Exports peaked at $X in 2014; however, from 2015 to 2020, exports stood at a somewhat lower figure.

Exports by Country

Australia (X tons) was the main destination for caramel exports from South Africa, with a X% share of total exports. Moreover, caramel exports to Australia exceeded the volume sent to the second major destination, Namibia (X tons), threefold. Lesotho (X tons) ranked third in terms of total exports with a X% share.

From 2007 to 2020, the average annual growth rate of volume to Australia stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Namibia (+X% per year) and Lesotho (-X% per year).

In value terms, Australia ($X) remains the key foreign market for caramel exports from South Africa, comprising X% of total exports. The second position in the ranking was occupied by Namibia ($X), with a X% share of total exports. It was followed by the U.S., with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of value to Australia amounted to +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Namibia (+X% per year) and the U.S. (+X% per year).

Export Prices by Country

In 2020, the average caramel export price amounted to $X per ton, surging by X% against the previous year. In general, the export price enjoyed a mild expansion. The export price peaked at $X per ton in 2009; however, from 2010 to 2020, export prices failed to regain the momentum.

There were significant differences in the average prices for the major foreign markets. In 2020, the country with the highest price was Botswana ($X per ton), while the average price for exports to Lesotho ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Botswana, while the prices for the other major destinations experienced more modest paces of growth.

Caramel Imports

Imports into South Africa

In 2020, approx. X tons of caramel were imported into South Africa; picking up by X% on the year before. Overall, imports enjoyed a significant increase. The most prominent rate of growth was recorded in 2015 when imports increased by X% year-to-year. Imports peaked in 2020 and are likely to see gradual growth in years to come.

In value terms, caramel imports declined to $X in 2020. Over the period under review, imports showed buoyant growth. The most prominent rate of growth was recorded in 2015 with an increase of X% y-o-y. Imports peaked at $X in 2017; however, from 2018 to 2020, imports remained at a lower figure.

Imports by Country

In 2020, Swaziland (X tons) constituted the largest caramel supplier to South Africa, with a X% share of total imports. Moreover, caramel imports from Swaziland exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. The third position in this ranking was occupied by Thailand (X tons), with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of volume from Swaziland amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+X% per year) and Thailand (+X% per year).

In value terms, Swaziland ($X) constituted the largest supplier of caramel to South Africa, comprising X% of total imports. The second position in the ranking was occupied by China ($X), with a X% share of total imports. It was followed by Thailand, with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of value from Swaziland stood at +X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+X% per year) and Thailand (+X% per year).

Import Prices by Country

In 2020, the average caramel import price amounted to $X per ton, waning by -X% against the previous year. Overall, the import price continues to indicate a pronounced contraction. The growth pace was the most rapid in 2015 when the average import price increased by X% year-to-year. The import price peaked at $X per ton in 2007; however, from 2008 to 2020, import prices remained at a lower figure.

Prices varied noticeably by the country of origin; the country with the highest price was Swaziland ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by China, while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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