GCC: Market for Chocolate Bars With Fillings 2024

Market Size for Chocolate Bars With Fillings in GCC

In 2023, after two years of decline, there was growth in the GCC chocolate bar with filling market, when its value increased by X% to $X. The market value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2021 to 2023, the growth of the market failed to regain momentum.

Production of Chocolate Bars With Fillings in GCC

In value terms, chocolate bar with filling production stood at $X in 2023 estimated in export price. The total production indicated a modest expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2020 with an increase of X%. The level of production peaked at $X in 2021; however, from 2022 to 2023, production failed to regain momentum.

Exports of Chocolate Bars With Fillings

Exports in GCC

Chocolate bar with filling exports skyrocketed to X tons in 2023, with an increase of X% against 2022 figures. Overall, exports, however, saw a deep downturn. The pace of growth was the most pronounced in 2019 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

In value terms, chocolate bar with filling exports expanded remarkably to $X in 2023. Over the period under review, exports, however, continue to indicate a abrupt curtailment. The growth pace was the most rapid in 2019 when exports increased by X%. The level of export peaked at $X in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates was the largest exporter of chocolate bars with fillings in GCC, with the volume of exports resulting at X tons, which was near X% of total exports in 2023. Oman (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Saudi Arabia (X%).

Exports from the United Arab Emirates decreased at an average annual rate of X% from 2012 to 2023. At the same time, Oman (X%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of X% from 2012-2023. By contrast, Saudi Arabia (X%) illustrated a downward trend over the same period. While the share of Oman (X p.p.) and Saudi Arabia (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of the United Arab Emirates (X p.p.) displayed negative dynamics.

In value terms, the United Arab Emirates ($X) remains the largest chocolate bar with filling supplier in GCC, comprising X% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a X% share of total exports.

In the United Arab Emirates, chocolate bar with filling exports contracted by an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Saudi Arabia (X% per year) and Oman (X% per year).

Export Prices by Country

The export price in GCC stood at $X per ton in 2023, falling by X% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when the export price increased by X%. The level of export peaked at $X per ton in 2022, and then shrank in the following year.

Average prices varied somewhat amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Saudi Arabia (X%), while the other leaders experienced more modest paces of growth.

Imports of Chocolate Bars With Fillings

Imports in GCC

In 2023, purchases abroad of chocolate bars with fillings increased by X% to X tons for the first time since 2019, thus ending a three-year declining trend. In general, imports, however, recorded a noticeable decrease. The most prominent rate of growth was recorded in 2019 with an increase of X%. As a result, imports attained the peak of X tons. From 2020 to 2023, the growth of imports remained at a somewhat lower figure.

In value terms, chocolate bar with filling imports rose notably to $X in 2023. Over the period under review, imports, however, recorded a pronounced curtailment. The most prominent rate of growth was recorded in 2019 with an increase of X%. As a result, imports reached the peak of $X. From 2020 to 2023, the growth of imports failed to regain momentum.

Imports by Country

The United Arab Emirates was the main importer of chocolate bars with fillings in GCC, with the volume of imports reaching X tons, which was approx. X% of total imports in 2023. Kuwait (X tons) held the second position in the ranking, distantly followed by Saudi Arabia (X tons), Oman (X tons) and Bahrain (X tons). All these countries together took near X% share of total imports.

The United Arab Emirates was also the fastest-growing in terms of the chocolate bars with fillings imports, with a CAGR of X% from 2012 to 2023. At the same time, Oman (X%) displayed positive paces of growth. Kuwait experienced a relatively flat trend pattern. By contrast, Bahrain (X%) and Saudi Arabia (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of the United Arab Emirates, Kuwait and Oman increased by X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X), Kuwait ($X) and Saudi Arabia ($X) were the countries with the highest levels of imports in 2023, together comprising X% of total imports. Oman and Bahrain lagged somewhat behind, together comprising a further X%.

In terms of the main importing countries, Oman, 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 more modest paces of growth.

Import Prices by Country

The import price in GCC stood at $X per ton in 2023, therefore, remained relatively stable against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the import price increased by X%. Over the period under review, import prices attained the maximum at $X per ton in 2014; however, from 2015 to 2023, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2023, major importing countries recorded the following prices: in Kuwait ($X per ton) and Saudi Arabia ($X per ton), while the United Arab Emirates ($X per ton) and Oman ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Oman (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform