Eastern Europe: Chocolate Market 2024

Chocolate Market Size in Eastern Europe

After six years of growth, the East European chocolate market decreased by -2.5% to $X in 2022. The total consumption indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +41.4% against 2014 indices. The level of consumption peaked at $X in 2021, and then reduced slightly in the following year.

Chocolate Production in Eastern Europe

In value terms, chocolate production dropped to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a remarkable increase. The most prominent rate of growth was recorded in 2017 with an increase of 18% against the previous year. The level of production peaked at $X in 2021, and then contracted in the following year.

Chocolate Exports

Exports in Eastern Europe

In 2022, approx. X tons of chocolate and other food preparations containing cocoa were exported in Eastern Europe; with an increase of 2.8% on the previous year's figure. Overall, exports recorded a strong expansion. The growth pace was the most rapid in 2017 when exports increased by 25%. The volume of export peaked in 2022 and is expected to retain growth in years to come.

In value terms, chocolate exports rose markedly to $X in 2022. Over the period under review, exports enjoyed a buoyant increase. The growth pace was the most rapid in 2017 when exports increased by 32%. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the near future.

Exports by Country

In 2022, Poland (X tons) represented the largest exporter of chocolate and other food preparations containing cocoa, comprising 54% of total exports. Slovakia (X tons) ranks second in terms of the total exports with a 14% share, followed by Hungary (9%), the Czech Republic (7.3%) and Russia (6.3%). Belarus (X tons) held a relatively small share of total exports.

Exports from Poland increased at an average annual rate of +15.0% from 2012 to 2022. At the same time, Hungary (+50.6%), Russia (+18.1%), Slovakia (+15.8%), Belarus (+4.7%) and the Czech Republic (+1.2%) displayed positive paces of growth. Moreover, Hungary emerged as the fastest-growing exporter exported in Eastern Europe, with a CAGR of +50.6% from 2012-2022. Poland (+14 p.p.), Hungary (+8.5 p.p.), Slovakia (+4.3 p.p.) and Russia (+2.7 p.p.) significantly strengthened its position in terms of the total exports, while Belarus and the Czech Republic saw its share reduced by -3.7% and -12.2% from 2012 to 2022, respectively.

In value terms, Poland ($X) remains the largest chocolate supplier in Eastern Europe, comprising 51% of total exports. The second position in the ranking was held by Hungary ($X), with a 13% share of total exports. It was followed by Slovakia, with a 13% share.

In Poland, chocolate exports increased at an average annual rate of +16.9% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Hungary (+54.8% per year) and Slovakia (+15.6% per year).

Export Prices by Country

The export price in Eastern Europe stood at $X per ton in 2022, increasing by 2.4% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.1%. The growth pace was the most rapid in 2014 when the export price increased by 13% against the previous year. The level of export peaked in 2022 and is likely to continue growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Hungary ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belarus (+3.2%), while the other leaders experienced more modest paces of growth.

Chocolate Imports

Imports in Eastern Europe

In 2022, supplies from abroad of chocolate and other food preparations containing cocoa decreased by -5.4% to X tons for the first time since 2011, thus ending a ten-year rising trend. Overall, imports, however, saw resilient growth. The most prominent rate of growth was recorded in 2013 with an increase of 23%. The volume of import peaked at X tons in 2021, and then contracted in the following year.

In value terms, chocolate imports contracted to $X in 2022. Over the period under review, imports, however, continue to indicate a strong increase. The most prominent rate of growth was recorded in 2020 when imports increased by 28% against the previous year. The level of import peaked at $X in 2021, and then shrank in the following year.

Imports by Country

Poland was the main importing country with an import of around X tons, which amounted to 46% of total imports. Hungary (X tons) held a 13% share (based on physical terms) of total imports, which put it in second place, followed by the Czech Republic (12%), Russia (9.9%), Lithuania (5.6%) and Romania (4.7%). Slovakia (X tons) held a little share of total imports.

Imports into Poland increased at an average annual rate of +8.7% from 2012 to 2022. At the same time, Romania (+14.1%), Slovakia (+13.6%), Hungary (+11.0%), the Czech Republic (+5.5%), Russia (+4.7%) and Lithuania (+3.4%) displayed positive paces of growth. Moreover, Romania emerged as the fastest-growing importer imported in Eastern Europe, with a CAGR of +14.1% from 2012-2022. From 2012 to 2022, the share of Poland, Hungary, Romania and Slovakia increased by +3.6, +3.2, +2 and +1.6 percentage points, respectively.

In value terms, Poland ($X) constitutes the largest market for imported chocolate and other food preparations containing cocoa in Eastern Europe, comprising 46% of total imports. The second position in the ranking was held by Hungary ($X), with a 13% share of total imports. It was followed by the Czech Republic, with an 11% share.

From 2012 to 2022, the average annual growth rate of value in Poland stood at +7.9%. The remaining importing countries recorded the following average annual rates of imports growth: Hungary (+11.9% per year) and the Czech Republic (+6.0% per year).

Import Prices by Country

In 2022, the import price in Eastern Europe amounted to $X per ton, waning by -1.8% against the previous year. In general, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the import price increased by 7.6% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Lithuania (+1.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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