The forecasted import of cocoa paste to Saudi Arabia is expected to decrease steadily from 2024 to 2028. The import value stands at $1.8554 million in 2024 and declines year-on-year, reaching $1.6915 million by 2028. Compared to 2023, where the import stood at $1.9 million, this marks a consistent downward trend. The year-on-year variation from 2024 to 2028 shows a percentage decline, particularly notable at -2.27% from 2024 to 2025 and similar downward percentages in the following years. The compound annual growth rate (CAGR) over these five years is projected at approximately -2.35%.
Trends to watch:
- Market diversification: Exploring alternative cocoa and chocolate sources or substitutes.
- Economic factors: Impact of global cocoa prices and fluctuations in foreign exchange rates.
- Consumer trends: Shifts in consumption patterns and preferences for cocoa products in Saudi Arabia.
