Croatia: Chocolate Market 2024

Chocolate Market Size in Croatia

After four years of growth, the Croatian chocolate market decreased by -15.9% to $X in 2022. In general, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Chocolate Production in Croatia

In value terms, chocolate production contracted to $X in 2022 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 7.5%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Chocolate Exports

Exports from Croatia

In 2022, the amount of chocolate and cocoa products exported from Croatia expanded remarkably to X tons, with an increase of 9.2% compared with the year before. Overall, exports showed a resilient increase. The most prominent rate of growth was recorded in 2014 with an increase of 42% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, chocolate exports stood at $X in 2022. In general, exports enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2014 when exports increased by 46% against the previous year. The exports peaked in 2022 and are likely to continue growth in years to come.

Exports by Country

Slovenia (X tons), Bosnia and Herzegovina (X tons) and Serbia (X tons) were the main destinations of chocolate exports from Croatia, with a combined 50% share of total exports. Belgium, Germany, North Macedonia, Montenegro, Spain, the Netherlands and Austria lagged somewhat behind, together comprising a further 41%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Spain (with a CAGR of +187.8%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for chocolate exported from Croatia were Belgium ($X), Slovenia ($X) and Bosnia and Herzegovina ($X), with a combined 54% share of total exports. Serbia, Germany, North Macedonia, Montenegro, the Netherlands, Austria and Spain lagged somewhat behind, together comprising a further 38%.

Spain, with a CAGR of +165.9%, saw 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 -3.3% against the previous year. Over the last decade, it increased at an average annual rate of +1.0%. The most prominent rate of growth was recorded in 2017 an increase of 8.4%. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the average price for exports to Spain ($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 Belgium (+23.5%), while the prices for the other major destinations experienced mixed trend patterns.

Chocolate Imports

Imports into Croatia

In 2022, after four years of growth, there was decline in overseas purchases of chocolate and cocoa products, when their volume decreased by -1.7% to X tons. Overall, imports, however, posted a resilient increase. The most prominent rate of growth was recorded in 2018 with an increase of 34% against the previous year. Imports peaked at X tons in 2021, and then fell in the following year.

In value terms, chocolate imports contracted slightly to $X in 2022. Over the period under review, total imports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +8.5% 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 +42.2% against 2014 indices. The most prominent rate of growth was recorded in 2014 when imports increased by 29%. Imports peaked at $X in 2021, and then declined in the following year.

Imports by Country

Germany (X tons), Austria (X tons) and Serbia (X tons) were the main suppliers of chocolate imports to Croatia, together comprising 66% of total imports. Italy, Poland, Slovenia, Belgium, the Netherlands, Hungary, Slovakia, Bulgaria and Spain lagged somewhat behind, together comprising a further 30%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Slovakia (with a CAGR of +32.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of chocolate and cocoa products to Croatia, comprising 38% of total imports. The second position in the ranking was held by Austria ($X), with a 16% share of total imports. It was followed by Serbia, with a 9.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany stood at +9.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (+16.6% per year) and Serbia (+20.8% per year).

Import Prices by Country

In 2022, the average chocolate import price amounted to $X per ton, almost unchanged from the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the average import price increased by 23% against the previous year. As a result, import price reached the peak level of $X per ton. From 2018 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 the Netherlands ($X per ton), while the price for Austria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Slovenia (+3.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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