Eastern Europe: Cocoa Butter Market 2024

Cocoa Butter Market Size in Eastern Europe

In 2022, the East European cocoa butter market decreased by -1.9% to $X, falling for the second consecutive year after two years of growth. In general, consumption, however, showed a pronounced downturn. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Cocoa Butter Production in Eastern Europe

In value terms, cocoa butter production reached $X in 2022 estimated in export price. Over the period under review, production, however, recorded a perceptible shrinkage. The pace of growth appeared the most rapid in 2020 when the production volume increased by 21% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Cocoa Butter Exports

Exports in Eastern Europe

After four years of decline, shipments abroad of cocoa butter increased by 700% to X tons in 2022. In general, exports recorded buoyant growth. The volume of export peaked at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, cocoa butter exports skyrocketed to $X in 2022. Overall, exports saw a prominent expansion. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Estonia was the major exporting country with an export of around X tons, which accounted for 68% of total exports. Bulgaria (X tons) ranks second in terms of the total exports with a 21% share, followed by Lithuania (4.7%). Poland (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to cocoa butter exports from Estonia stood at +7.4%. At the same time, Bulgaria (+35.4%) and Lithuania (+33.0%) displayed positive paces of growth. Moreover, Bulgaria emerged as the fastest-growing exporter exported in Eastern Europe, with a CAGR of +35.4% from 2012-2022. By contrast, Poland (-12.1%) illustrated a downward trend over the same period. Bulgaria (+19 p.p.), Lithuania (+4.2 p.p.) and Estonia (+2.4 p.p.) significantly strengthened its position in terms of the total exports, while Poland saw its share reduced by -24.3% from 2012 to 2022, respectively.

In value terms, Estonia ($X) emerged as the largest cocoa butter supplier in Eastern Europe, comprising 66% of total exports. The second position in the ranking was held by Bulgaria ($X), with a 20% share of total exports. It was followed by Lithuania, with a 5.5% share.

From 2012 to 2022, the average annual growth rate of value in Estonia totaled +5.5%. In the other countries, the average annual rates were as follows: Bulgaria (+38.5% per year) and Lithuania (+33.4% per year).

Export Prices by Country

The export price in Eastern Europe stood at $X per ton in 2022, with a decrease of -23.9% against the previous year. Overall, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in 2014 an increase of 75%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Lithuania ($X per ton) and Poland ($X per ton), while Estonia ($X per ton) and Bulgaria ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+5.0%), while the other leaders experienced more modest paces of growth.

Cocoa Butter Imports

Imports in Eastern Europe

In 2022, approx. X tons of cocoa butter were imported in Eastern Europe; growing by 3.7% against the previous year. The total import volume increased at an average annual rate of +3.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 17%. The volume of import peaked in 2022 and is likely to see gradual growth in the near future.

In value terms, cocoa butter imports shrank to $X in 2022. Total imports indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +7.8% 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 +2.1% against 2020 indices. The most prominent rate of growth was recorded in 2014 when imports increased by 51%. Over the period under review, imports hit record highs at $X in 2021, and then contracted in the following year.

Imports by Country

Poland represented the largest importing country with an import of around X tons, which accounted for 44% of total imports. Russia (X tons) held the second position in the ranking, distantly followed by Estonia (X tons) and Ukraine (X tons). All these countries together took near 42% share of total imports. The Czech Republic (X tons), Bulgaria (X tons) and Slovakia (X tons) held a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +8.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), Russia ($X) and Estonia ($X) constituted the countries with the highest levels of imports in 2022, together comprising 81% of total imports.

Poland, with a CAGR of +12.0%, saw the highest growth rate of the value of imports, among 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, reducing by -9.2% against the previous year. Import price indicated a measured expansion from 2012 to 2022: its price increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cocoa butter import price decreased by -16.2% against 2020 indices. The growth pace was the most rapid in 2014 an increase of 62% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+5.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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