United Arab Emirates: Chocolate Market 2024

Chocolate Market Size in the United Arab Emirates

In 2022, after three years of growth, there was decline in the chocolate market in the United Arab Emirates, when its value decreased by -3.1% to $X. Over the period under review, the total consumption indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +52.8% against 2018 indices. Over the period under review, the market reached the peak level at $X in 2021, and then reduced slightly in the following year.

Chocolate Production in the United Arab Emirates

In value terms, chocolate production expanded remarkably to $X in 2022 estimated in export price. In general, production, however, saw a slight shrinkage. The most prominent rate of growth was recorded in 2020 with an increase of 62% against the previous year. Over the period under review, production attained the peak level at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

Chocolate Exports

Exports from the United Arab Emirates

In 2022, after five years of decline, there was significant growth in overseas shipments of chocolate and cocoa products, when their volume increased by 5.4% to X tons. Overall, exports, however, showed a perceptible reduction. The most prominent rate of growth was recorded in 2014 with an increase of 27% against the previous year. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, chocolate exports expanded sharply to $X in 2022. Over the period under review, exports, however, saw a perceptible descent. The pace of growth was the most pronounced in 2013 when exports increased by 20% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

India (X tons) was the main destination for chocolate exports from the United Arab Emirates, accounting for a 44% share of total exports. Moreover, chocolate exports to India exceeded the volume sent to the second major destination, Jordan (X tons), twofold. Bahrain (X tons) ranked third in terms of total exports with a 7.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to India amounted to +28.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Jordan (+19.5% per year) and Bahrain (+11.9% per year).

In value terms, Jordan ($X), India ($X) and Bahrain ($X) appeared to be the largest markets for chocolate exported from the United Arab Emirates worldwide, together accounting for 60% of total exports. Morocco, Egypt, South Africa, the Philippines and Tanzania lagged somewhat behind, together comprising a further 18%.

In terms of the main countries of destination, the Philippines, with a CAGR of +82.1%, saw the highest growth rate of the value of exports, 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, approximately equating the previous year. Over the period under review, the export price, however, saw a noticeable contraction. The growth pace was the most rapid in 2015 when the average export price increased by 28%. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Morocco ($X per ton), while the average price for exports to Tanzania ($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 Philippines (+10.9%), while the prices for the other major destinations experienced more modest paces of growth.

Chocolate Imports

Imports into the United Arab Emirates

In 2022, the amount of chocolate and cocoa products imported into the United Arab Emirates contracted to X tons, dropping by -5.7% against the year before. Overall, total imports indicated measured growth from 2012 to 2022: its volume increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -26.5% against 2019 indices. The pace of growth appeared the most rapid in 2019 when imports increased by 54%. As a result, imports reached the peak of X tons. From 2020 to 2022, the growth of imports remained at a lower figure.

In value terms, chocolate imports fell to $X in 2022. Over the period under review, total imports indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -19.3% against 2019 indices. The pace of growth appeared the most rapid in 2019 when imports increased by 63% against the previous year. As a result, imports reached the peak of $X. From 2020 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Turkey (X tons), the Netherlands (X tons) and the UK (X tons) were the main suppliers of chocolate imports to the United Arab Emirates, together accounting for 32% of total imports. Germany, Italy, Belgium, Singapore, Egypt, the United States, China, Switzerland and Poland lagged somewhat behind, together comprising a further 29%.

From 2012 to 2022, the biggest increases were recorded for Singapore (with a CAGR of +14.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Germany ($X) and Turkey ($X) constituted the largest chocolate suppliers to the United Arab Emirates, together accounting for 28% of total imports. The UK, Italy, the United States, Singapore, Switzerland, Egypt, Belgium, Poland and China lagged somewhat behind, together comprising a further 30%.

In terms of the main suppliers, Singapore, with a CAGR of +24.9%, saw 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

The average chocolate import price stood at $X per ton in 2022, falling by -5.4% against the previous year. Over the last decade, it increased at an average annual rate of +1.5%. The growth pace was the most rapid in 2016 an increase of 17% against the previous year. The import price peaked at $X per ton in 2021, and then reduced in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Switzerland ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+12.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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