Denmark: Chocolate Market 2024

Chocolate Market Size in Denmark

After two years of growth, the Danish chocolate market decreased by -19.6% to $X in 2022. In general, consumption, however, posted strong growth. Chocolate consumption peaked at $X in 2021, and then fell markedly in the following year.

Chocolate Production in Denmark

In value terms, chocolate production fell slightly to $X in 2022 estimated in export price. Over the period under review, production, however, showed prominent growth. The most prominent rate of growth was recorded in 2015 when the production volume increased by 121%. Over the period under review, production reached the peak level at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Chocolate Exports

Exports from Denmark

Chocolate exports from Denmark expanded to X tons in 2022, growing by 3.4% compared with 2021. In general, exports, however, saw a mild shrinkage. The most prominent rate of growth was recorded in 2019 with an increase of 45% against the previous year. As a result, the exports attained the peak of X tons. From 2020 to 2022, the growth of the exports failed to regain momentum.

In value terms, chocolate exports contracted to $X in 2022. The total export value increased at an average annual rate of +2.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 with an increase of 45% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Germany (X tons) was the main destination for chocolate exports from Denmark, with a 52% share of total exports. Moreover, chocolate exports to Germany exceeded the volume sent to the second major destination, Poland (X tons), fivefold. The third position in this ranking was taken by Sweden (X tons), with a 9.1% share.

From 2012 to 2022, the average annual growth rate of volume to Germany amounted to +7.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (+13.5% per year) and Sweden (-8.5% per year).

In value terms, Germany ($X) remains the key foreign market for chocolate and other food preparations containing cocoa exports from Denmark, comprising 51% of total exports. The second position in the ranking was held by Bulgaria ($X), with a 16% share of total exports. It was followed by Sweden, with a 7% share.

From 2012 to 2022, the average annual growth rate of value to Germany stood at +13.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bulgaria (+296.9% per year) and Sweden (-11.1% per year).

Export Prices by Country

The average chocolate export price stood at $X per ton in 2022, dropping by -8.2% against the previous year. Overall, export price indicated a pronounced increase from 2012 to 2022: its price 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, chocolate export price increased by +58.5% against 2019 indices. The growth pace was the most rapid in 2020 an increase of 43% against the previous year. The export price peaked at $X per ton in 2021, and then contracted in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Bulgaria ($X per ton), while the average price for exports to Finland ($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 Bulgaria (+10.0%), while the prices for the other major destinations experienced more modest paces of growth.

Chocolate Imports

Imports into Denmark

In 2022, after two years of growth, there was significant decline in overseas purchases of chocolate and other food preparations containing cocoa, when their volume decreased by -14% to X tons. Overall, imports, however, posted a resilient expansion. The most prominent rate of growth was recorded in 2013 with an increase of 104%. Over the period under review, imports reached the peak figure at X tons in 2021, and then shrank in the following year.

In value terms, chocolate imports contracted dramatically to $X in 2022. Over the period under review, imports, however, recorded a buoyant expansion. The most prominent rate of growth was recorded in 2013 when imports increased by 70%. Imports peaked at $X in 2021, and then contracted remarkably in the following year.

Imports by Country

In 2022, Belgium (X tons) constituted the largest chocolate supplier to Denmark, accounting for a 56% share of total imports. Moreover, chocolate imports from Belgium exceeded the figures recorded by the second-largest supplier, Poland (X tons), threefold. Germany (X tons) ranked third in terms of total imports with an 8.9% share.

From 2012 to 2022, the average annual growth rate of volume from Belgium totaled +14.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+52.9% per year) and Germany (+2.5% per year).

In value terms, Belgium ($X) constituted the largest supplier of chocolate and other food preparations containing cocoa to Denmark, comprising 60% of total imports. The second position in the ranking was held by Poland ($X), with a 12% share of total imports. It was followed by Germany, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Belgium amounted to +12.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+38.4% per year) and Germany (+4.5% per year).

Import Prices by Country

The average chocolate import price stood at $X per ton in 2022, which is down by -7.4% against the previous year. Overall, the import price continues to indicate a perceptible setback. The most prominent rate of growth was recorded in 2021 an increase of 9.2%. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 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 Germany ($X per ton), while the price for Poland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+1.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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