Belgium: Chocolate Market 2024

Chocolate Market Size in Belgium

In 2022, the Belgian chocolate market was finally on the rise to reach $X after two years of decline. In general, consumption saw a strong increase. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Chocolate Production in Belgium

In value terms, chocolate production contracted to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 11%. As a result, production reached the peak level of $X. From 2018 to 2022, production growth remained at a lower figure.

Chocolate Exports

Exports from Belgium

After three years of growth, shipments abroad of chocolate and cocoa products decreased by -17.4% to X tons in 2022. The total export volume increased at an average annual rate of +1.8% 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 when exports increased by 15%. Over the period under review, the exports reached the maximum at X tons in 2021, and then dropped rapidly in the following year.

In value terms, chocolate exports declined significantly to $X in 2022. The total export value increased at an average annual rate of +1.2% 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 2020 with an increase of 24% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then reduced dramatically in the following year.

Exports by Country

The Netherlands (X tons), France (X tons) and Germany (X tons) were the main destinations of chocolate exports from Belgium, with a combined 52% share of total exports. The UK, the United States, Poland, Italy, Spain, China, Canada, Russia and Japan lagged somewhat behind, together comprising a further 27%.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +12.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), France ($X) and Germany ($X) appeared to be the largest markets for chocolate exported from Belgium worldwide, with a combined 49% share of total exports. The UK, the United States, Japan, Poland, China, Italy, Spain, Canada and Russia lagged somewhat behind, together accounting for a further 29%.

Poland, with a CAGR of +12.1%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average chocolate export price stood at $X per ton in 2022, waning by -6.9% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of 12% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Italy ($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 the Netherlands (+1.4%), while the prices for the other major destinations experienced more modest paces of growth.

Chocolate Imports

Imports into Belgium

In 2022, after four years of growth, there was significant decline in overseas purchases of chocolate and cocoa products, when their volume decreased by -20.6% to X tons. Over the period under review, total imports indicated a measured increase from 2012 to 2022: its volume increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when imports increased by 32%. Imports peaked at X tons in 2021, and then fell markedly in the following year.

In value terms, chocolate imports dropped remarkably to $X in 2022. In general, total imports indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 when imports increased by 34%. Over the period under review, imports hit record highs at $X in 2021, and then fell sharply in the following year.

Imports by Country

France (X tons), Germany (X tons) and the Netherlands (X tons) were the main suppliers of chocolate imports to Belgium, with a combined 62% share of total imports. Poland, Italy, Spain and the UK lagged somewhat behind, together accounting for a further 30%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of +38.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest chocolate suppliers to Belgium were Germany ($X), the Netherlands ($X) and France ($X), together comprising 63% of total imports. Poland, Italy, Spain and the UK lagged somewhat behind, together comprising a further 27%.

In terms of the main suppliers, Poland, with a CAGR of +33.0%, recorded 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 2022, the average chocolate import price amounted to $X per ton, reducing by -3.9% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the average import price increased by 9.9% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Poland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+3.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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