CIS: Chocolate Market 2024

Chocolate Market Size in CIS

The CIS chocolate market totaled $X in 2022, increasing by 4.4% against the previous year. The total consumption indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +39.8% against 2014 indices. The level of consumption peaked in 2022 and is expected to retain growth in the immediate term.

Chocolate Production in CIS

In value terms, chocolate production amounted to $X in 2022 estimated in export price. The total production indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -0.3% against 2020 indices. The pace of growth appeared the most rapid in 2019 with an increase of 27% against the previous year. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Chocolate Exports

Exports in CIS

In 2022, exports of chocolate and other food preparations containing cocoa in the CIS fell to X tons, with a decrease of -8.1% compared with 2021. Over the period under review, exports, however, showed a buoyant increase. The growth pace was the most rapid in 2016 when exports increased by 47% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2021, and then declined in the following year.

In value terms, chocolate exports stood at $X in 2022. In general, exports, however, continue to indicate resilient growth. The most prominent rate of growth was recorded in 2021 with an increase of 49%. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the near future.

Exports by Country

Russia was the key exporter of chocolate and other food preparations containing cocoa in the CIS, with the volume of exports recording X tons, which was near 54% of total exports in 2022. Belarus (X tons) took the second position in the ranking, distantly followed by Moldova (X tons). All these countries together took near 46% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Russia (with a CAGR of +18.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest chocolate supplying countries in the CIS were Russia ($X), Belarus ($X) and Moldova ($X), with a combined 100% share of total exports.

Russia, with a CAGR of +17.5%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in the CIS stood at $X per ton in 2022, rising by 9.1% against the previous year. In general, the export price recorded modest growth. The growth pace was the most rapid in 2021 when the export price increased by 22% against the previous year. The level of export peaked in 2022 and is likely to see steady growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2022, 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 (+3.2%), while the other leaders experienced mixed trends in the export price figures.

Chocolate Imports

Imports in CIS

Chocolate imports dropped to X tons in 2022, declining by -6.9% on 2021. The total import volume increased at an average annual rate of +4.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 27%. The volume of import peaked at X tons in 2021, and then declined in the following year.

In value terms, chocolate imports reduced to $X in 2022. Total imports indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +19.4% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 29%. As a result, imports attained the peak of $X, and then declined in the following year.

Imports by Country

Russia was the largest importing country with an import of around X tons, which finished at 61% of total imports. Kazakhstan (X tons) took the second position in the ranking, distantly followed by Azerbaijan (X tons) and Belarus (X tons). All these countries together took approx. 29% share of total imports. Moldova (X tons), Uzbekistan (X tons) and Armenia (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to chocolate imports into Russia stood at +4.7%. At the same time, Uzbekistan (+106.9%), Kazakhstan (+10.0%), Moldova (+9.6%) and Azerbaijan (+5.2%) displayed positive paces of growth. Moreover, Uzbekistan emerged as the fastest-growing importer imported in the CIS, with a CAGR of +106.9% from 2012-2022. By contrast, Armenia (-2.4%) and Belarus (-4.3%) illustrated a downward trend over the same period. Kazakhstan (+7.6 p.p.), Uzbekistan (+2.5 p.p.) and Russia (+1.5 p.p.) significantly strengthened its position in terms of the total imports, while Armenia and Belarus saw its share reduced by -1.8% and -6.6% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) constitutes the largest market for imported chocolate and other food preparations containing cocoa in the CIS, comprising 64% of total imports. The second position in the ranking was held by Kazakhstan ($X), with a 17% share of total imports. It was followed by Azerbaijan, with a 6.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Russia stood at +3.9%. In the other countries, the average annual rates were as follows: Kazakhstan (+7.9% per year) and Azerbaijan (+8.9% per year).

Import Prices by Country

In 2022, the import price in the CIS amounted to $X per ton, leveling off at the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 11%. Over the period under review, import prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Armenia ($X per ton) and Russia ($X per ton), while Uzbekistan ($X per ton) and Belarus ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Armenia (+4.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :