Middle East: Chocolate Market 2024

Chocolate Market Size in the Middle East

The Middle Eastern chocolate market expanded markedly to $X in 2023, surging by X% against the previous year. In general, consumption saw strong growth. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2023, consumption failed to regain momentum.

Chocolate Production in the Middle East

In value terms, chocolate production expanded remarkably to $X in 2023 estimated in export price. Over the period under review, production, however, enjoyed a strong expansion. The growth pace was the most rapid in 2017 when the production volume increased by X%. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2023, production stood at a somewhat lower figure.

Chocolate Exports

Exports in the Middle East

In 2023, shipments abroad of chocolate and cocoa products decreased by X% to X tons, falling for the second year in a row after five years of growth. The total export volume 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. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021; however, from 2022 to 2023, the exports stood at a somewhat lower figure.

In value terms, chocolate exports expanded markedly to $X in 2023. The total export value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure in 2023 and are likely to see steady growth in years to come.

Exports by Country

Turkey prevails in exports structure, reaching X tons, which was approx. X% of total exports in 2023. It was distantly followed by the United Arab Emirates (X tons), mixing up a X% share of total exports. The following exporters - Saudi Arabia (X tons) and Iran (X tons) - together made up X% of total exports.

Exports from Turkey increased at an average annual rate of X% from 2012 to 2023. At the same time, Iran (X%) and Saudi Arabia (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 2012-2023. By contrast, the United Arab Emirates (X%) illustrated a downward trend over the same period. While the share of Turkey (X p.p.), Iran (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, Turkey ($X) remains the largest chocolate supplier in the Middle East, comprising X% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a X% share of total exports. It was followed by Saudi Arabia, with a X% share.

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

Export Prices by Country

In 2023, the export price in the Middle East amounted to $X per ton, increasing by X% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2022 when the export price increased by X%. The level of export peaked in 2023 and is likely to see gradual growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Iran ($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 mixed trends in the export price figures.

Chocolate Imports

Imports in the Middle East

In 2023, supplies from abroad of chocolate and cocoa products increased by X% to X tons for the first time since 2019, thus ending a three-year declining trend. The total import volume increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 with an increase of X%. The volume of import peaked at X tons in 2019; however, from 2020 to 2023, imports stood at a somewhat lower figure.

In value terms, chocolate imports expanded remarkably to $X in 2023. The total import value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 with an increase of X%. The level of import peaked at $X in 2019; however, from 2020 to 2023, imports stood at a somewhat lower figure.

Imports by Country

In 2023, the United Arab Emirates (X tons), Iraq (X tons), Saudi Arabia (X tons), Turkey (X tons), Israel (X tons), Yemen (X tons), Kuwait (X tons) and Oman (X tons) was the key importer of chocolate and cocoa products in the Middle East, achieving X% of total import.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Israel (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 2023, together comprising X% of total imports.

Among the main importing countries, Israel, with a CAGR of X%, saw the highest rates of growth with regard to 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

In 2023, the import price in the Middle East amounted to $X per ton, standing approx. at the previous year. In general, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of X%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2023, import prices failed to regain momentum.

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