Turkey: Chocolate Market 2024

Chocolate Market Size in Turkey

The Turkish chocolate market shrank to $X in 2022, declining by -13.8% against the previous year. In general, consumption, however, continues to indicate a remarkable increase. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Chocolate Production in Turkey

In value terms, chocolate production dropped to $X in 2022 estimated in export price. Over the period under review, production, however, showed a resilient increase. The pace of growth was the most pronounced in 2017 with an increase of 104% against the previous year. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Chocolate Exports

Exports from Turkey

In 2022, the amount of chocolate and cocoa products exported from Turkey expanded markedly to X tons, surging by 9.2% against the previous year. In general, total exports indicated moderate growth from 2012 to 2022: its volume increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +72.5% against 2016 indices. The pace of growth was the most pronounced in 2021 with an increase of 17% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the near future.

In value terms, chocolate exports skyrocketed to $X in 2022. Over the period under review, total exports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +106.7% against 2016 indices. The most prominent rate of growth was recorded in 2021 with an increase of 24%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Iraq (X tons) was the main destination for chocolate exports from Turkey, with a 19% share of total exports. Moreover, chocolate exports to Iraq exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), threefold. Libya (X tons) ranked third in terms of total exports with a 5.1% share.

From 2012 to 2022, the average annual growth rate of volume to Iraq amounted to +3.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+7.3% per year) and Libya (+3.1% per year).

In value terms, Iraq ($X) remains the key foreign market for chocolate and cocoa products exports from Turkey, comprising 18% of total exports. The second position in the ranking was taken by the United States ($X), with an 8.3% share of total exports. It was followed by Libya, with a 5.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Iraq totaled +4.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+36.2% per year) and Libya (+3.9% per year).

Export Prices by Country

In 2022, the average chocolate export price amounted to $X per ton, growing by 12% against the previous year. In general, the export price showed a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Syrian Arab Republic ($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 Israel (+3.2%), while the prices for the other major destinations experienced more modest paces of growth.

Chocolate Imports

Imports into Turkey

In 2022, the amount of chocolate and cocoa products imported into Turkey skyrocketed to X tons, growing by 53% on the previous year's figure. Overall, total imports indicated a strong expansion from 2012 to 2022: its volume increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +59.1% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, chocolate imports skyrocketed to $X in 2022. The total import value increased at an average annual rate of +5.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Germany (X tons), the Netherlands (X tons) and Poland (X tons) were the main suppliers of chocolate imports to Turkey, with a combined 56% share of total imports. Belgium, Switzerland, Luxembourg, Italy, France, India, Austria, Bulgaria and the UK lagged somewhat behind, together comprising a further 39%.

From 2012 to 2022, the biggest increases were recorded for Luxembourg (with a CAGR of +202.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of chocolate and cocoa products to Turkey, comprising 27% of total imports. The second position in the ranking was held by Switzerland ($X), with an 11% share of total imports. It was followed by Belgium, with an 11% share.

From 2012 to 2022, the average annual growth rate of value from Germany amounted to +9.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Switzerland (+16.0% per year) and Belgium (+6.4% per year).

Import Prices by Country

In 2022, the average chocolate import price amounted to $X per ton, which is down by -14.8% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the average import price increased by 13%. Over the period under review, average import prices reached the peak figure at $X per ton in 2015; however, from 2016 to 2022, 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 Switzerland ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bulgaria (+3.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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