Eastern Europe: Chocolate Market 2024

Chocolate Market Size in Eastern Europe

The East European chocolate market declined modestly to $X in 2022, waning by -3.5% against the previous year. In general, consumption continues to indicate a mild decrease. The pace of growth was the most pronounced in 2021 with an increase of 8.1%. Over the period under review, the market attained the peak level at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Chocolate Production in Eastern Europe

In value terms, chocolate production fell modestly to $X in 2022 estimated in export price. Overall, production, however, saw a noticeable descent. The most prominent rate of growth was recorded in 2019 when the production volume increased by 7.3% against the previous year. The level of production peaked at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Chocolate Exports

Exports in Eastern Europe

For the eighth year in a row, Eastern Europe recorded growth in shipments abroad of chocolate and cocoa products, which increased by 0.5% to X tons in 2022. Total exports indicated notable growth from 2012 to 2022: its volume increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +57.5% against 2014 indices. The pace of growth was the most pronounced in 2018 with an increase of 15%. Over the period under review, the exports attained the maximum in 2022 and are likely to continue growth in the near future.

In value terms, chocolate exports amounted to $X in 2022. Total exports indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +60.6% against 2015 indices. The growth pace was the most rapid in 2013 when exports increased by 15% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

Exports by Country

In 2022, Poland (X tons) and Russia (X tons) represented the main exporters of chocolate and cocoa products in Eastern Europe, together constituting 68% of total exports. Slovakia (X tons) ranks next in terms of the total exports with a 5.4% share, followed by the Czech Republic (5.2%), Hungary (5%) and Bulgaria (4.6%). Ukraine (X tons) held a relatively small share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Bulgaria (with a CAGR of +12.0%), while the other leaders experienced more modest paces of growth.

In value terms, Poland ($X) remains the largest chocolate supplier in Eastern Europe, comprising 47% of total exports. The second position in the ranking was taken by Russia ($X), with a 16% share of total exports. It was followed by the Czech Republic, with a 6.9% share.

In Poland, chocolate exports increased at an average annual rate of +7.9% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Russia (+3.7% per year) and the Czech Republic (+3.0% per year).

Export Prices by Country

The export price in Eastern Europe stood at $X per ton in 2022, standing approx. at the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the export price increased by 6.1% against the previous year. The level of export peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the Czech Republic ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bulgaria (+1.9%), while the other leaders experienced more modest paces of growth.

Chocolate Imports

Imports in Eastern Europe

After six years of growth, overseas purchases of chocolate and cocoa products decreased by -2.7% to X tons in 2022. Total imports indicated a pronounced increase from 2012 to 2022: its volume increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +51.9% against 2015 indices. The pace of growth appeared the most rapid in 2020 with an increase of 12% against the previous year. Over the period under review, imports hit record highs at X tons in 2021, and then declined slightly in the following year.

In value terms, chocolate imports dropped to $X in 2022. Total imports indicated a pronounced expansion from 2012 to 2022: its value 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, imports increased by +59.6% against 2015 indices. The growth pace was the most rapid in 2021 when imports increased by 14%. As a result, imports reached the peak of $X, and then contracted slightly in the following year.

Imports by Country

In 2022, Poland (X tons), distantly followed by Russia (X tons), the Czech Republic (X tons), Romania (X tons), Hungary (X tons), Slovakia (X tons) and Bulgaria (X tons) represented the largest importers of chocolate and cocoa products, together comprising 85% of total imports. Lithuania (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Bulgaria (with a CAGR of +9.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), Russia ($X) and the Czech Republic ($X) were the countries with the highest levels of imports in 2022, together accounting for 54% of total imports. Romania, Hungary, Slovakia, Bulgaria and Lithuania lagged somewhat behind, together comprising a further 36%.

Romania, with a CAGR of +10.6%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Eastern Europe stood at $X per ton in 2022, leveling off at the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the import price increased by 6.8% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Slovakia ($X per ton) and Bulgaria ($X per ton), while Hungary ($X per ton) and Lithuania ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Romania (+1.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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