Croatia: Market for Cocoa Powder (Containing Added Sugar) 2024

Market Size for Cocoa Powder (Containing Added Sugar) in Croatia

After five years of growth, the Croatian cocoa powder with sugar market decreased by -8.2% to $X in 2021. In general, consumption, however, showed a noticeable expansion. Cocoa powder with sugar consumption peaked at $X in 2020, and then declined in the following year.

Production of Cocoa Powder (Containing Added Sugar) in Croatia

In value terms, cocoa powder with sugar production declined to $X in 2021 estimated in export price. Overall, production, however, saw a slight expansion. The pace of growth appeared the most rapid in 2016 when the production volume increased by 70%. Cocoa powder with sugar production peaked at $X in 2020, and then fell in the following year.

Exports of Cocoa Powder (Containing Added Sugar)

Exports from Croatia

Cocoa powder with sugar exports from Croatia fell remarkably to X tons in 2021, which is down by -35.5% on 2020. Overall, exports faced a abrupt contraction. The pace of growth was the most pronounced in 2019 when exports increased by 127%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, cocoa powder with sugar exports shrank remarkably to $X in 2021. In general, exports recorded a abrupt setback. The most prominent rate of growth was recorded in 2019 with an increase of 85% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Slovenia (X tons), Bosnia and Herzegovina (X tons) and Montenegro (X tons) were the main destinations of cocoa powder with sugar exports from Croatia, together accounting for 95% of total exports.

From 2012 to 2021, the biggest increases were recorded for Slovenia (with a CAGR of -4.4%), while shipments for the other leaders experienced a decline.

In value terms, Slovenia ($X), Bosnia and Herzegovina ($X) and Montenegro ($X) were the largest markets for cocoa powder with sugar exported from Croatia worldwide, with a combined 92% share of total exports.

In terms of the main countries of destination, Slovenia, with a CAGR of -3.1%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average cocoa powder with sugar export price stood at $X per ton in 2021, with an increase of 15% against the previous year. Overall, export price indicated a slight increase from 2012 to 2021: its price increased at an average annual rate of +1.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, cocoa powder with sugar export price decreased by -0.6% against 2018 indices. The growth pace was the most rapid in 2017 when the average export price increased by 38%. Over the period under review, the average export prices reached the maximum at $X per ton in 2018; afterwards, it flattened through to 2021.

Average prices varied somewhat for the major export markets. In 2021, amid the top suppliers, the countries with the highest prices were Serbia ($X per ton) and Montenegro ($X per ton), while the average price for exports to Bosnia and Herzegovina ($X per ton) and Slovenia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Serbia (+6.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Cocoa Powder (Containing Added Sugar)

Imports into Croatia

In 2021, supplies from abroad of cocoa powder (containing added sugar) decreased by -1.3% to X tons, falling for the second consecutive year after four years of growth. Over the period under review, imports, however, recorded a resilient expansion. The most prominent rate of growth was recorded in 2019 when imports increased by 84% against the previous year. As a result, imports reached the peak of X tons. From 2020 to 2021, the growth of imports failed to regain momentum.

In value terms, cocoa powder with sugar imports rose significantly to $X in 2021. Overall, total imports indicated a pronounced expansion from 2012 to 2021: its value increased at an average annual rate of +3.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -31.9% against 2019 indices. The growth pace was the most rapid in 2014 when imports increased by 37%. Over the period under review, imports attained the maximum at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Germany (X tons) constituted the largest cocoa powder with sugar supplier to Croatia, with a 82% share of total imports. Moreover, cocoa powder with sugar imports from Germany exceeded the figures recorded by the second-largest supplier, Hungary (X tons), more than tenfold. The third position in this ranking was held by Austria (X tons), with a 5.1% share.

From 2012 to 2021, the average annual growth rate of volume from Germany stood at +4.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Hungary (+92.0% per year) and Austria (+26.2% per year).

In value terms, Germany ($X) constituted the largest supplier of cocoa powder (containing added sugar) to Croatia, comprising 77% of total imports. The second position in the ranking was taken by Hungary ($X), with a 10% share of total imports. It was followed by Austria, with a 6.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany amounted to +1.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Hungary (+125.2% per year) and Austria (+32.9% per year).

Import Prices by Country

The average cocoa powder with sugar import price stood at $X per ton in 2021, growing by 6.5% against the previous year. Over the period under review, the import price, however, continues to indicate a noticeable slump. The growth pace was the most rapid in 2020 an increase of 40%. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hungary (+17.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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