Angola: Chocolate Market 2024

Chocolate Market Size in Angola

In 2022, the Angolan chocolate market increased by X% to $X, rising for the third consecutive year after two years of decline. Over the period under review, consumption, however, saw a significant increase. Chocolate consumption peaked in 2022 and is expected to retain growth in years to come.

Chocolate Production in Angola

In value terms, chocolate production contracted to $X in 2022 estimated in export price. Overall, the total production indicated a resilient 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, production decreased by X% against 2019 indices. The pace of growth was the most pronounced in 2014 with an increase of X%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Chocolate Exports

Exports from Angola

In 2022, approx. X tons of chocolate and cocoa products were exported from Angola; reducing by X% compared with 2021. Overall, exports faced a dramatic slump. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, chocolate exports skyrocketed to $X in 2022. In general, exports, however, posted a remarkable increase. The most prominent rate of growth was recorded in 2016 when exports increased by X% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

Germany (X tons) was the main destination for chocolate exports from Angola, with a X% share of total exports. Moreover, chocolate exports to Germany exceeded the volume sent to the second major destination, Portugal (X kg), more than tenfold. Cuba (X kg) ranked third in terms of total exports with a X% share.

From 2015 to 2022, the average annual growth rate of volume to Germany totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Portugal (X% per year) and Cuba (X% per year).

In value terms, Germany ($X) remains the key foreign market for chocolate and cocoa products exports from Angola, comprising X% of total exports. The second position in the ranking was held by South Africa ($X), with a X% share of total exports. It was followed by China, with a X% share.

From 2015 to 2022, the average annual rate of growth in terms of value to Germany amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Africa (X% per year) and China (X.9% per year).

Export Prices by Country

In 2022, the average chocolate export price amounted to $X per ton, surging by X% against the previous year. Overall, the export price saw significant growth. The pace of growth was the most pronounced in 2020 when the average export price increased by X%. The export price peaked in 2022 and is expected to retain growth in years to come.

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 Germany ($X per ton), while the average price for exports to Democratic Republic of the Congo ($X per ton) was amongst the lowest.

From 2015 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (X%), while the prices for the other major destinations experienced more modest paces of growth.

Chocolate Imports

Imports into Angola

Chocolate imports into Angola dropped to X tons in 2022, shrinking by X% against 2021 figures. Over the period under review, imports showed a drastic downturn. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, chocolate imports shrank slightly to $X in 2022. Overall, imports faced a abrupt decline. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Portugal (X tons), Turkey (X tons) and Argentina (X tons) were the main suppliers of chocolate imports to Angola, together accounting for X% of total imports. South Africa, India, Mexico, Namibia and China lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of X%), while imports for the other leaders experienced a decline.

In value terms, Portugal ($X), South Africa ($X) and Argentina ($X) appeared to be the largest chocolate suppliers to Angola, with a combined X% share of total imports. Turkey, Mexico, Namibia, India and China lagged somewhat behind, together comprising a further X%.

Among the main suppliers, India, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2022, the average chocolate import price amounted to $X per ton, rising by X% against the previous year. In general, import price indicated a mild expansion from 2012 to 2022: its price 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, chocolate import price decreased by X% against 2020 indices. The growth pace was the most rapid in 2019 an increase of X% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2020; however, from 2021 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was South Africa ($X per ton), while the price for India ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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