CIS: Chocolate Market 2024

Chocolate Market Size in CIS

The CIS chocolate market declined to $X in 2022, dropping by -1.9% against the previous year. Over the period under review, consumption recorded a perceptible setback. Over the period under review, the market reached the maximum level at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Chocolate Production in CIS

In value terms, chocolate production contracted to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a noticeable shrinkage. The pace of growth was the most pronounced in 2019 with an increase of 15%. The level of production peaked at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Chocolate Exports

Exports in CIS

In 2022, after six years of growth, there was decline in shipments abroad of chocolate and cocoa products, when their volume decreased by -2.4% to X tons. In general, exports, however, posted a resilient expansion. The pace of growth appeared the most rapid in 2018 with an increase of 21%. Over the period under review, the exports reached the maximum at X tons in 2021, and then dropped modestly in the following year.

In value terms, chocolate exports dropped modestly to $X in 2022. Total exports indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +4.5% 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 +97.7% against 2015 indices. The pace of growth appeared the most rapid in 2019 with an increase of 25%. The level of export peaked at $X in 2021, and then fell modestly in the following year.

Exports by Country

Russia dominates exports structure, recording X tons, which was near 89% of total exports in 2022. The following exporters - Kazakhstan (X tons) and Belarus (X tons) - together made up 6.5% of total exports.

Russia was also the fastest-growing in terms of the chocolate and cocoa products exports, with a CAGR of +8.3% from 2012 to 2022. At the same time, Kazakhstan (+3.2%) displayed positive paces of growth. By contrast, Belarus (-2.4%) illustrated a downward trend over the same period. Russia (+7.1 p.p.) significantly strengthened its position in terms of the total exports, while Kazakhstan and Belarus saw its share reduced by -1.9% and -4.4% from 2012 to 2022, respectively.

In value terms, Russia ($X) remains the largest chocolate supplier in the CIS, comprising 78% of total exports. The second position in the ranking was taken by Belarus ($X), with a 12% share of total exports.

In Russia, chocolate exports increased at an average annual rate of +3.7% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Belarus (+9.6% per year) and Kazakhstan (+3.7% per year).

Export Prices by Country

The export price in the CIS stood at $X per ton in 2022, flattening at the previous year. In general, the export price, however, recorded a pronounced curtailment. The most prominent rate of growth was recorded in 2019 an increase of 10%. Over the period under review, the export prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Belarus ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belarus (+12.3%), while the other leaders experienced mixed trends in the export price figures.

Chocolate Imports

Imports in CIS

In 2022, the amount of chocolate and cocoa products imported in the CIS shrank to X tons, declining by -6.1% against 2021. In general, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by 23% against the previous year. Over the period under review, imports reached the maximum at X tons in 2021, and then fell in the following year.

In value terms, chocolate imports amounted to $X in 2022. Over the period under review, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 26% against the previous year. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Russia (X tons) was the main importer of chocolate and cocoa products, comprising 39% of total imports. It was distantly followed by Kazakhstan (X tons), Uzbekistan (X tons), Belarus (X tons) and Azerbaijan (X tons), together generating a 48% share of total imports. The following importers - Kyrgyzstan (X tons) and Armenia (X tons) - each resulted at a 7.7% share of total imports.

Imports into Russia decreased at an average annual rate of -3.2% from 2012 to 2022. At the same time, Uzbekistan (+39.1%), Armenia (+4.7%), Belarus (+2.0%) and Azerbaijan (+1.8%) displayed positive paces of growth. Moreover, Uzbekistan emerged as the fastest-growing importer imported in the CIS, with a CAGR of +39.1% from 2012-2022. Kazakhstan experienced a relatively flat trend pattern. By contrast, Kyrgyzstan (-3.7%) illustrated a downward trend over the same period. While the share of Uzbekistan (+13 p.p.), Kazakhstan (+1.6 p.p.) and Belarus (+1.6 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Kyrgyzstan (-1.8 p.p.) and Russia (-14.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) constitutes the largest market for imported chocolate and cocoa products in the CIS, comprising 45% of total imports. The second position in the ranking was taken by Kazakhstan ($X), with an 18% share of total imports. It was followed by Uzbekistan, with a 9.6% share.

In Russia, chocolate imports decreased by an average annual rate of -3.2% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Kazakhstan (+0.3% per year) and Uzbekistan (+40.7% per year).

Import Prices by Country

In 2022, the import price in the CIS amounted to $X per ton, with an increase of 7.5% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the import price increased by 7.7% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Azerbaijan (+7.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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