Denmark: Cocoa Powder Market 2024

Cocoa Powder Market Size in Denmark

In 2022, the Danish cocoa powder market decreased by -18.8% to $X for the first time since 2019, thus ending a two-year rising trend. Overall, consumption showed a noticeable slump. Cocoa powder consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Cocoa Powder Production in Denmark

In value terms, cocoa powder production declined to $X in 2022 estimated in export price. Overall, production saw a deep contraction. The pace of growth appeared the most rapid in 2019 with an increase of 56% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Cocoa Powder Exports

Exports from Denmark

In 2022, approx. X tons of cocoa powder (not sweetened) were exported from Denmark; picking up by 45% on the year before. Overall, exports recorded a slight increase. The pace of growth was the most pronounced in 2013 with an increase of 71%. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, cocoa powder exports soared to $X in 2022. In general, exports, however, saw a mild shrinkage. The growth pace was the most rapid in 2013 with an increase of 43%. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Sweden (X tons) was the main destination for cocoa powder exports from Denmark, accounting for a 47% share of total exports. Moreover, cocoa powder exports to Sweden exceeded the volume sent to the second major destination, the Czech Republic (X tons), twofold. The third position in this ranking was held by Iceland (X tons), with a 14% share.

From 2012 to 2022, the average annual growth rate of volume to Sweden stood at +9.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Czech Republic (-7.3% per year) and Iceland (+1.0% per year).

In value terms, Sweden ($X) remains the key foreign market for cocoa powder (not sweetened) exports from Denmark, comprising 52% of total exports. The second position in the ranking was taken by the Czech Republic ($X), with a 13% share of total exports. It was followed by Iceland, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Sweden stood at +5.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Czech Republic (-12.0% per year) and Iceland (-0.4% per year).

Export Prices by Country

In 2022, the average cocoa powder export price amounted to $X per ton, falling by -20.4% against the previous year. Over the period under review, the export price showed a noticeable downturn. The most prominent rate of growth was recorded in 2021 when the average export price increased by 36% against the previous year. As a result, the export price reached the peak level of $X per ton, and then plummeted in the following year.

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 Saudi Arabia ($X per ton), while the average price for exports to the Czech Republic ($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 Saudi Arabia (+0.5%), while the prices for the other major destinations experienced mixed trend patterns.

Cocoa Powder Imports

Imports into Denmark

In 2022, overseas purchases of cocoa powder (not sweetened) decreased by -16.3% to X tons, falling for the second year in a row after three years of growth. Over the period under review, imports continue to indicate a slight curtailment. The pace of growth appeared the most rapid in 2013 with an increase of 11%. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports remained at a lower figure.

In value terms, cocoa powder imports shrank markedly to $X in 2022. Overall, imports showed a perceptible downturn. The most prominent rate of growth was recorded in 2016 when imports increased by 25%. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the Netherlands (X tons) constituted the largest supplier of cocoa powder to Denmark, accounting for a 47% share of total imports. Moreover, cocoa powder imports from the Netherlands exceeded the figures recorded by the second-largest supplier, Germany (X tons), threefold. The third position in this ranking was taken by Belgium (X tons), with a 15% share.

From 2012 to 2022, the average annual growth rate of volume from the Netherlands amounted to -3.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-8.3% per year) and Belgium (+31.2% per year).

In value terms, the largest cocoa powder suppliers to Denmark were the Netherlands ($X), Germany ($X) and Belgium ($X), together accounting for 75% of total imports. Norway, Spain and Indonesia lagged somewhat behind, together accounting for a further 20%.

Norway, with a CAGR of +150.0%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers 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, therefore, remained relatively stable against the previous year. Overall, the import price, however, showed a noticeable decline. The pace of growth appeared the most rapid in 2016 an increase of 14%. The import price peaked 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 ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+9.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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