Croatia: Cocoa Powder Market 2024

Cocoa Powder Market Size in Croatia

In 2022, the Croatian cocoa powder market increased by 50% to $X, rising for the second consecutive year after four years of decline. Overall, consumption, however, continues to indicate a perceptible shrinkage. Cocoa powder consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Cocoa Powder Production in Croatia

In value terms, cocoa powder production shrank to $X in 2022 estimated in export price. In general, production recorded a abrupt shrinkage. The pace of growth was the most pronounced in 2014 with an increase of 8.8%. As a result, production attained the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Cocoa Powder Exports

Exports from Croatia

In 2022, shipments abroad of cocoa powder (not sweetened) decreased by -71.6% to X tons, falling for the second year in a row after three years of growth. Overall, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when exports increased by 104% against the previous year. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, cocoa powder exports fell significantly to $X in 2022. In general, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when exports increased by 98%. Over the period under review, the exports attained the peak figure at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

Bosnia and Herzegovina (X tons), North Macedonia (X tons) and Slovenia (X tons) were the main destinations of cocoa powder exports from Croatia, together accounting for 87% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Slovenia (with a CAGR of +6.6%), while the other leaders experienced more modest paces of growth.

In value terms, Bosnia and Herzegovina ($X), North Macedonia ($X) and Slovenia ($X) were the largest markets for cocoa powder exported from Croatia worldwide, with a combined 86% share of total exports.

Slovenia, with a CAGR of +6.7%, recorded the highest rates of growth with regard to the value of exports, among 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

In 2022, the average cocoa powder export price amounted to $X per ton, growing by 68% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Montenegro ($X per ton), while the average price for exports to Georgia ($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 Serbia (+5.7%), while the prices for the other major destinations experienced more modest paces of growth.

Cocoa Powder Imports

Imports into Croatia

In 2022, the amount of cocoa powder (not sweetened) imported into Croatia reached X tons, growing by 3.3% compared with 2021 figures. The total import volume increased at an average annual rate of +3.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2015 with an increase of 39%. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, cocoa powder imports rose to $X in 2022. In general, imports, however, showed a mild slump. The pace of growth was the most pronounced in 2015 when imports increased by 32% against the previous year. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The Netherlands (X tons), Turkey (X tons) and Germany (X tons) were the main suppliers of cocoa powder imports to Croatia, with a combined 75% share of total imports. France, Spain, Poland, Lithuania and Italy lagged somewhat behind, together comprising a further 21%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Lithuania (with a CAGR of +391.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Turkey ($X) and Germany ($X) constituted the largest cocoa powder suppliers to Croatia, with a combined 73% share of total imports. France, Spain, Poland, Italy and Lithuania lagged somewhat behind, together comprising a further 21%.

In terms of the main suppliers, Lithuania, with a CAGR of +387.0%, recorded the highest growth rate of 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

The average cocoa powder import price stood at $X per ton in 2022, remaining stable against the previous year. In general, the import price, however, recorded a perceptible curtailment. The growth pace was the most rapid in 2021 an increase of 18% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Lithuania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+2.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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