Kuwait: Market for Chocolate Bars With Fillings 2022

Market Size for Chocolate Bars With Fillings in Kuwait

In 2021, the Kuwaiti chocolate bar with filling market decreased by -13.2% to $X for the first time since 2016, thus ending a four-year rising trend. In general, consumption, however, continues to indicate slight growth. Over the period under review, the market hit record highs at $X in 2020, and then contracted in the following year.

Exports of Chocolate Bars With Fillings

Exports from Kuwait

In 2021, chocolate bar with filling exports from Kuwait skyrocketed to X tons, growing by 19% compared with 2020 figures. Over the period under review, exports showed a resilient expansion. The pace of growth was the most pronounced in 2014 with an increase of 708%. As a result, the exports attained the peak of X tons. From 2015 to 2021, the growth of the exports failed to regain momentum.

In value terms, chocolate bar with filling exports plummeted to $X in 2021. Overall, exports posted a resilient expansion. The most prominent rate of growth was recorded in 2014 with an increase of 801% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

The United Arab Emirates (X tons), Sri Lanka (X tons) and Saudi Arabia (X kg) were the main destinations of chocolate bar with filling exports from Kuwait, with a combined 100% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United Arab Emirates (with a CAGR of +8.5%), while the other leaders experienced mixed trend patterns.

In value terms, the United Arab Emirates ($X) remains the key foreign market for chocolate bar with filling exports from Kuwait, comprising 66% of total exports. The second position in the ranking was held by Sri Lanka ($X), with a 25% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to the United Arab Emirates totaled +4.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sri Lanka (0.0% per year) and Saudi Arabia (-39.5% per year).

Export Prices by Country

The average chocolate bar with filling export price stood at $X per ton in 2021, with a decrease of -30.2% against the previous year. Over the period under review, the export price saw a perceptible contraction. The pace of growth was the most pronounced in 2020 when the average export price increased by 124% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Saudi Arabia ($X per ton), while the average price for exports to Sri Lanka ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Qatar (+51.7%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Chocolate Bars With Fillings

Imports into Kuwait

In 2021, after three years of growth, there was significant decline in purchases abroad of chocolate bars with fillings, when their volume decreased by -14.6% to X tons. In general, imports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2019 when imports increased by 50%. Imports peaked at X tons in 2020, and then shrank in the following year.

In value terms, chocolate bar with filling imports reduced to $X in 2021. Over the period under review, imports, however, continue to indicate tangible growth. The growth pace was the most rapid in 2019 with an increase of 76% against the previous year. Imports peaked at $X in 2020, and then contracted in the following year.

Imports by Country

In 2021, the United Arab Emirates (X tons) constituted the largest chocolate bar with filling supplier to Kuwait, with a 53% share of total imports. Moreover, chocolate bar with filling imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), sixfold. Italy (X tons) ranked third in terms of total imports with a 7.9% share.

From 2012 to 2021, the average annual growth rate of volume from the United Arab Emirates amounted to -3.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+11.7% per year) and Italy (+2.8% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of chocolate bar with filling to Kuwait, comprising 60% of total imports. The second position in the ranking was taken by Italy ($X), with an 8.2% share of total imports. It was followed by the UK, with a 6% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United Arab Emirates amounted to +1.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+2.9% per year) and the UK (-1.3% per year).

Import Prices by Country

The average chocolate bar with filling import price stood at $X per ton in 2021, increasing by 2.6% against the previous year. Overall, import price indicated perceptible growth from 2012 to 2021: its price increased at an average annual rate of +2.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, chocolate bar with filling import price decreased by -3.0% against 2019 indices. The most prominent rate of growth was recorded in 2017 an increase of 60%. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, 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 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+4.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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