Middle East: Chocolate Market 2024

Chocolate Market Size in the Middle East

The Middle Eastern chocolate market reduced to $X in 2022, dropping by X% against the previous year. Overall, consumption, however, enjoyed a temperate expansion. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Chocolate Production in the Middle East

In value terms, chocolate production fell to $X in 2022 estimated in export price. In general, production, however, continues to indicate a remarkable increase. The growth pace was the most rapid in 2017 with an increase of X%. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Chocolate Exports

Exports in the Middle East

In 2022, overseas shipments of chocolate and cocoa products increased by X% to X tons, rising for the sixth year in a row after two years of decline. Total exports indicated a buoyant increase 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 2016 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, chocolate exports skyrocketed to $X in 2022. Total exports indicated a strong 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 2016 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Turkey was the major exporter of chocolate and cocoa products in the Middle East, with the volume of exports accounting for X tons, which was near X% of total exports in 2022. It was distantly followed by the United Arab Emirates (X tons), achieving a X% share of total exports. The following exporters - Iran (X tons), Oman (X tons), Saudi Arabia (X tons) and Jordan (X tons) - together made up X% of total exports.

Exports from Turkey increased at an average annual rate of X% from 2012 to 2022. At the same time, Iran (X%), Oman (X%), Jordan (X%), Saudi Arabia (X%) and the United Arab Emirates (X%) displayed positive paces of growth. Moreover, Iran emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of X% from 2012-2022. Iran (X p.p.) and Oman (X p.p.) significantly strengthened its position in terms of the total exports, while Turkey saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X), the United Arab Emirates ($X) and Saudi Arabia ($X) were the countries with the highest levels of exports in 2022, with a combined X% share of total exports. Iran, Jordan and Oman lagged somewhat behind, together accounting for a further X%.

Iran, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per ton, jumping by X% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. Over the period under review, the export prices hit record highs at $X per ton in 2016; afterwards, it flattened through to 2022.

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 Saudi Arabia ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2022, 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.

Chocolate Imports

Imports in the Middle East

In 2022, imports of chocolate and cocoa products in the Middle East expanded significantly to X tons, picking up by X% against 2021 figures. The total import volume 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 most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. The volume of import peaked in 2022 and is likely to see gradual growth in years to come.

In value terms, chocolate imports rose rapidly 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 with an increase of X% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, the United Arab Emirates (X tons), Saudi Arabia (X tons) and Iraq (X tons) was the key importer of chocolate and cocoa products in the Middle East, comprising X% of total import. Israel (X tons) ranks next in terms of the total imports with a X% share, followed by Yemen (X%), Turkey (X%), Oman (X%) and Kuwait (X%). Palestine (X tons) followed a long way behind the leaders.

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

In value terms, the United Arab Emirates ($X), Saudi Arabia ($X) and Israel ($X) were the countries with the highest levels of imports in 2022, together comprising X% of total imports. Kuwait, Iraq, Turkey, Oman, Palestine and Yemen lagged somewhat behind, together accounting for a further X%.

Palestine, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of 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 the Middle East stood at $X per ton in 2022, with a decrease of X% against the previous year. Overall, the import price showed a slight shrinkage. The pace of growth was the most pronounced in 2017 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Palestine ($X per ton), while Yemen ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Palestine (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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