Africa: Chocolate Market 2024

Chocolate Market Size in Africa

In 2022, after two years of decline, there was growth in the African chocolate market, when its value increased by X% to $X. The total consumption indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by X% against 2019 indices. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Chocolate Production in Africa

In value terms, chocolate production contracted modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

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Chocolate Exports

Exports in Africa

In 2022, chocolate exports in Africa surged to X tons, growing by X% compared with 2021 figures. Total exports indicated pronounced growth from 2012 to 2022: its volume increased at an average annual rate of X% 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 X% against 2020 indices. The pace of growth appeared the most rapid in 2017 with an increase of X%. Over the period under review, the exports reached the maximum in 2022 and are likely to continue growth in years to come.

In value terms, chocolate exports surged to $X in 2022. Total exports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2020 indices. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the near future.

Exports by Country

Cote d'Ivoire represented the major exporting country with an export of about X tons, which accounted for X% of total exports. Egypt (X tons) held the second position in the ranking, distantly followed by South Africa (X tons), Ghana (X tons), Nigeria (X tons) and Tunisia (X tons). All these countries together took near X% share of total exports. The following exporters - Zambia (X tons) and Senegal (X tons) - each accounted for a X% share of total exports.

Exports from Cote d'Ivoire increased at an average annual rate of X% from 2012 to 2022. At the same time, Nigeria (X%), Zambia (X%), Ghana (X%) and Egypt (X%) displayed positive paces of growth. Moreover, Nigeria emerged as the fastest-growing exporter exported in Africa, with a CAGR of X% from 2012-2022. South Africa and Senegal experienced a relatively flat trend pattern. By contrast, Tunisia (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Cote d'Ivoire, Egypt, Nigeria, Ghana and Zambia increased by X, X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Cote d'Ivoire ($X), Egypt ($X) and South Africa ($X) constituted the countries with the highest levels of exports in 2022, together comprising X% of total exports. Tunisia, Ghana, Nigeria, Senegal and Zambia lagged somewhat behind, together accounting for a further X%.

Among the main exporting countries, Zambia, with a CAGR of X%, recorded 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 export price in Africa stood at $X per ton in 2022, falling by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2014 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Egypt ($X per ton), while Zambia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Tunisia (X%), while the other leaders experienced more modest paces of growth.

Chocolate Imports

Imports in Africa

Chocolate imports shrank to X tons in 2022, declining by X% against the year before. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2019 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2021, and then reduced in the following year.

In value terms, chocolate imports reduced to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 when imports increased by X%. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, South Africa (X tons) and Libya (X tons) were the key importers of chocolate and cocoa products in Africa, together creating X% of total imports. Morocco (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Algeria (X%), Egypt (X%) and Nigeria (X%). The following importers - Angola (X tons), Ghana (X tons), Senegal (X tons), Mali (X tons), Mauritius (X tons) and Guinea (X tons) - each recorded an X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Mali (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest chocolate importing markets in Africa were Libya ($X), South Africa ($X) and Morocco ($X), together comprising X% of total imports. Algeria, Egypt, Nigeria, Mauritius, Angola, Ghana, Mali, Guinea and Senegal lagged somewhat behind, together accounting for a further X%.

Mali, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Africa stood at $X per ton in 2022, stabilizing at the previous year. In general, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Mauritius ($X per ton), while Senegal ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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