Bangladesh: Chocolate Market 2024

Chocolate Market Size in Bangladesh

The Bangladeshi chocolate market reduced to $X in 2022, dropping by X% against the previous year. Over the period under review, consumption saw a mild descent. Chocolate consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Chocolate Production in Bangladesh

In value terms, chocolate production reduced to $X in 2022 estimated in export price. Overall, production showed a noticeable decline. The most prominent rate of growth was recorded in 2021 when the production volume increased by X% against the previous year. Chocolate production peaked at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Chocolate Exports

Exports from Bangladesh

In 2022, the amount of chocolate and cocoa products exported from Bangladesh soared to X tons, picking up by X% against the previous year. Over the period under review, exports showed significant growth. The pace of growth appeared the most rapid in 2013 with an increase of X%. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, chocolate exports contracted to $X in 2022. In general, exports showed a significant increase. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. The exports peaked at $X in 2021, and then fell in the following year.

Exports by Country

India (X tons) was the main destination for chocolate exports from Bangladesh, accounting for a X% share of total exports. Moreover, chocolate exports to India exceeded the volume sent to the second major destination, Australia (X tons), fourfold. The third position in this ranking was held by Bolivia (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to India amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (X% per year) and Bolivia (X% per year).

In value terms, India ($X) remains the key foreign market for chocolate and cocoa products exports from Bangladesh, comprising X% of total exports. The second position in the ranking was taken by Vietnam ($X), with an X% share of total exports. It was followed by Australia, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to India totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (X% per year) and Australia (X% per year).

Export Prices by Country

The average chocolate export price stood at $X per ton in 2022, declining by X% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton, and then dropped notably in the following year.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to India (X%), while the prices for the other major destinations experienced mixed trend patterns.

Chocolate Imports

Imports into Bangladesh

In 2022, the amount of chocolate and cocoa products imported into Bangladesh fell rapidly to X tons, declining by X% compared with the previous year's figure. Overall, imports, however, continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, chocolate imports declined rapidly to $X in 2022. Over the period under review, imports, however, enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, imports reached the peak of $X, and then fell notably in the following year.

Imports by Country

In 2022, Malaysia (X tons) constituted the largest supplier of chocolate to Bangladesh, accounting for a X% share of total imports. Moreover, chocolate imports from Malaysia exceeded the figures recorded by the second-largest supplier, India (X tons), twofold. The third position in this ranking was taken by Singapore (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Malaysia amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and Singapore (X% per year).

In value terms, the largest chocolate suppliers to Bangladesh were Malaysia ($X), India ($X) and Sri Lanka ($X), with a combined X% share of total imports.

Sri Lanka, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average chocolate import price stood at $X per ton in 2022, rising by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The growth pace was the most rapid in 2018 an increase of X%. The import price peaked at $X per ton in 2020; however, from 2021 to 2022, import prices stood at a somewhat 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 Sri Lanka ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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