Eastern Europe: Cocoa Powder Market 2024

Cocoa Powder Market Size in Eastern Europe

The East European cocoa powder market dropped to $X in 2022, which is down by -10.6% against the previous year. Over the period under review, consumption saw a slight slump. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Cocoa Powder Production in Eastern Europe

In value terms, cocoa powder production expanded to $X in 2022 estimated in export price. Overall, production, however, recorded a mild contraction. The pace of growth appeared the most rapid in 2020 when the production volume increased by 14% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Cocoa Powder Exports

Exports in Eastern Europe

In 2022, shipments abroad of cocoa powder (not sweetened) increased by 53% to X tons for the first time since 2019, thus ending a two-year declining trend. Total exports indicated a strong expansion from 2012 to 2022: its volume increased at an average annual rate of +7.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, cocoa powder exports surged to $X in 2022. Over the period under review, exports enjoyed noticeable growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2022, Bulgaria (X tons), Estonia (X tons) and Russia (X tons) represented the largest exporter of cocoa powder (not sweetened) in Eastern Europe, making up 72% of total export. Poland (X tons) took an 8.2% share (based on physical terms) of total exports, which put it in second place, followed by Latvia (5.7%). Belarus (X tons), Lithuania (X tons) and Ukraine (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Latvia (with a CAGR of +36.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest cocoa powder supplying countries in Eastern Europe were Bulgaria ($X), Estonia ($X) and Russia ($X), with a combined 64% share of total exports. Poland, Latvia, Belarus, Lithuania and Ukraine lagged somewhat behind, together comprising a further 27%.

In terms of the main exporting countries, Latvia, with a CAGR of +31.6%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Eastern Europe amounted to $X per ton, increasing by 11% against the previous year. Overall, the export price, however, saw a pronounced decrease. The growth pace was the most rapid in 2020 when the export price increased by 15%. Over the period under review, the export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (-1.9%), while the other leaders experienced a decline in the export price figures.

Cocoa Powder Imports

Imports in Eastern Europe

Cocoa powder imports fell to X tons in 2022, reducing by -3.5% against the year before. The total import volume increased at an average annual rate of +2.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2018 when imports increased by 9.8%. The volume of import peaked at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, cocoa powder imports dropped to $X in 2022. In general, imports continue to indicate a perceptible slump. The pace of growth was the most pronounced in 2016 when imports increased by 27%. 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

Russia was the key importing country with an import of around X tons, which finished at 43% of total imports. It was distantly followed by Poland (X tons), Ukraine (X tons), Hungary (X tons) and the Czech Republic (X tons), together mixing up a 39% share of total imports. Romania (X tons) and Belarus (X tons) held a relatively small share of total imports.

Imports into Russia increased at an average annual rate of +5.3% from 2012 to 2022. At the same time, the Czech Republic (+7.1%), Belarus (+6.2%), Poland (+2.3%) and Hungary (+1.7%) displayed positive paces of growth. Moreover, the Czech Republic emerged as the fastest-growing importer imported in Eastern Europe, with a CAGR of +7.1% from 2012-2022. Romania experienced a relatively flat trend pattern. By contrast, Ukraine (-6.3%) illustrated a downward trend over the same period. Russia (+10 p.p.) and the Czech Republic (+2 p.p.) significantly strengthened its position in terms of the total imports, while Ukraine saw its share reduced by -13.2% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest cocoa powder importing markets in Eastern Europe were Russia ($X), Poland ($X) and Ukraine ($X), with a combined 68% share of total imports. Hungary, the Czech Republic, Romania and Belarus lagged somewhat behind, together accounting for a further 21%.

Among the main importing countries, the Czech Republic, with a CAGR of +1.9%, saw the highest rates of growth with regard to the value of imports, 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, with a decrease of -4.6% against the previous year. Over the period under review, the import price saw a noticeable decrease. The pace of growth appeared the most rapid in 2021 when the import price increased by 20% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Poland ($X per ton) and the Czech Republic ($X per ton), while Russia ($X per ton) and Belarus ($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 (-2.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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