United Arab Emirates: Chocolate Market 2024

Chocolate Market Size in the United Arab Emirates

In 2022, the chocolate market in the United Arab Emirates decreased by -24% to $X for the first time since 2018, thus ending a three-year rising trend. In general, consumption, however, continues to indicate resilient growth. As a result, consumption reached the peak level of $X, and then declined dramatically in the following year.

Chocolate Production in the United Arab Emirates

In value terms, chocolate production declined to $X in 2022 estimated in export price. Overall, production showed a abrupt shrinkage. The pace of growth appeared the most rapid in 2014 with an increase of 21% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2022, production growth remained at a lower figure.

Chocolate Exports

Exports from the United Arab Emirates

In 2022, shipments abroad of chocolate and other food preparations containing cocoa was finally on the rise to reach X tons after two years of decline. Overall, exports, however, continue to indicate a abrupt shrinkage. The pace of growth was the most pronounced in 2014 with an increase of 45% 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 lower figure.

In value terms, chocolate exports surged to $X in 2022. Over the period under review, exports, however, recorded a abrupt downturn. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Jordan (X tons), Brunei Darussalam (X tons) and France (X tons) were the main destinations of chocolate exports from the United Arab Emirates, with a combined 56% share of total exports.

From 2012 to 2022, the biggest increases were recorded for France (with a CAGR of +194.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for chocolate exported from the United Arab Emirates were Jordan ($X), the Philippines ($X) and Brunei Darussalam ($X), together accounting for 52% of total exports. These countries were followed by France, the UK, Egypt and Tanzania, which together accounted for a further 19%.

In terms of the main countries of destination, France, with a CAGR of +184.9%, 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

The average chocolate export price stood at $X per ton in 2022, remaining relatively unchanged against the previous year. Overall, the export price recorded a perceptible shrinkage. The pace of growth was the most pronounced in 2020 when the average export price increased by 22% against the previous year. Over the period under review, the average export prices reached 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 the UK ($X per ton), while the average price for exports to Tanzania ($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 Jordan (+5.3%), while the prices for the other major destinations experienced more modest paces of growth.

Chocolate Imports

Imports into the United Arab Emirates

In 2022, chocolate imports into the United Arab Emirates reduced to X tons, which is down by -12.3% against 2021 figures. Overall, imports, however, showed a resilient expansion. The pace of growth appeared the most rapid in 2019 when imports increased by 66% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2021, and then contracted in the following year.

In value terms, chocolate imports contracted to $X in 2022. Over the period under review, imports, however, recorded a prominent expansion. The most prominent rate of growth was recorded in 2019 with an increase of 60%. Imports peaked at $X in 2021, and then fell in the following year.

Imports by Country

In 2022, Belgium (X tons) constituted the largest chocolate supplier to the United Arab Emirates, accounting for a 23% share of total imports. Moreover, chocolate imports from Belgium exceeded the figures recorded by the second-largest supplier, France (X tons), threefold. Spain (X tons) ranked third in terms of total imports with a 6.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Belgium totaled +11.3%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+14.7% per year) and Spain (+52.0% per year).

In value terms, Belgium ($X) constituted the largest supplier of chocolate and other food preparations containing cocoa to the United Arab Emirates, comprising 22% of total imports. The second position in the ranking was held by France ($X), with an 11% share of total imports. It was followed by the UK, with a 7.6% share.

From 2012 to 2022, the average annual growth rate of value from Belgium amounted to +12.0%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+13.5% per year) and the UK (+44.4% per year).

Import Prices by Country

The average chocolate import price stood at $X per ton in 2022, surging by 3.4% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.2%. The most prominent rate of growth was recorded in 2013 an increase of 19%. Over the period under review, average import prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+4.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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