Denmark: Chocolate Market 2024

Chocolate Market Size in Denmark

In 2022, after two years of growth, there was decline in the Danish chocolate market, when its value decreased by -4.6% to $X. The market value increased at an average annual rate of +1.5% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. Over the period under review, the market reached the peak level at $X in 2021, and then declined modestly in the following year.

Chocolate Production in Denmark

In value terms, chocolate production shrank to $X in 2022 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 11% against the previous year. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Chocolate Exports

Exports from Denmark

In 2022, overseas shipments of chocolate and cocoa products increased by 11% to X tons, rising for the third consecutive year after two years of decline. In general, exports continue to indicate a relatively flat trend pattern. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, chocolate exports reduced to $X in 2022. The total export value increased at an average annual rate of +1.0% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The pace of growth appeared the most rapid in 2021 when exports increased by 20%. As a result, the exports attained the peak of $X, and then declined slightly in the following year.

Exports by Country

Germany (X tons), Sweden (X tons) and Norway (X tons) were the main destinations of chocolate exports from Denmark, together comprising 62% of total exports. Poland, the Netherlands, France, Finland, Iceland, the UK, Greenland and Singapore lagged somewhat behind, together comprising a further 25%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Poland (with a CAGR of +30.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for chocolate exported from Denmark were Germany ($X), Sweden ($X) and Norway ($X), with a combined 61% share of total exports. Poland, France, Finland, the Netherlands, Greenland, the UK, Iceland and Singapore lagged somewhat behind, together comprising a further 24%.

Poland, with a CAGR of +28.0%, recorded the highest growth rate of 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

The average chocolate export price stood at $X per ton in 2022, which is down by -11.7% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the average export price increased by 15% against the previous year. As a result, the export price reached the peak level of $X per ton, and then declined in the following year.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to Poland ($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 Singapore (+7.3%), while the prices for the other major destinations experienced more modest paces of growth.

Chocolate Imports

Imports into Denmark

For the fourth year in a row, Denmark recorded growth in purchases abroad of chocolate and cocoa products, which increased by 1.8% to X tons in 2022. The total import volume increased at an average annual rate of +3.0% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 13%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, chocolate imports declined to $X in 2022. The total import value increased at an average annual rate of +2.4% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 12%. As a result, imports reached the peak of $X, leveling off in the following year.

Imports by Country

Germany (X tons), Sweden (X tons) and Poland (X tons) were the main suppliers of chocolate imports to Denmark, together comprising 58% of total imports.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +15.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Sweden ($X) and Poland ($X) appeared to be the largest chocolate suppliers to Denmark, together comprising 65% of total imports.

Among the main suppliers, Poland, with a CAGR of +13.1%, recorded the highest rates of growth with regard to 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

In 2022, the average chocolate import price amounted to $X per ton, waning by -2.2% against the previous year. Overall, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the average import price increased by 5.2%. Over the period under review, average import prices attained the maximum at $X per ton in 2014; however, from 2015 to 2022, 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 Luxembourg ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+3.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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