Estonia: Chocolate And Confectionery Market 2024

Chocolate And Confectionery Market Size in Estonia

The Estonian chocolate and confectionery market shrank rapidly to $X in 2022, with a decrease of -58.9% against the previous year. Over the period under review, consumption recorded a pronounced slump. Chocolate and confectionery consumption peaked at $X in 2015; however, from 2016 to 2022, consumption failed to regain momentum.

Chocolate And Confectionery Production in Estonia

In value terms, chocolate and confectionery production surged to $X in 2022 estimated in export price. In general, production, however, enjoyed strong growth. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Chocolate And Confectionery Exports

Exports from Estonia

In 2022, overseas shipments of chocolate and confectionery increased by 229% to X tons, rising for the second year in a row after two years of decline. Over the period under review, exports continue to indicate tangible growth. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, chocolate and confectionery exports soared to $X in 2022. In general, exports enjoyed a tangible expansion. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Russia (X tons) was the main destination for chocolate and confectionery exports from Estonia, accounting for a 66% share of total exports. Moreover, chocolate and confectionery exports to Russia exceeded the volume sent to the second major destination, Belarus (X tons), fivefold. The third position in this ranking was taken by Latvia (X tons), with a 9.4% share.

From 2012 to 2022, the average annual growth rate of volume to Russia amounted to +1.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belarus (+28.7% per year) and Latvia (+5.4% per year).

In value terms, Russia ($X) remains the key foreign market for chocolate and confectionery exports from Estonia, comprising 64% of total exports. The second position in the ranking was held by Belarus ($X), with a 13% share of total exports. It was followed by Latvia, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Russia amounted to +3.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belarus (+29.7% per year) and Latvia (-2.3% per year).

Export Prices by Country

The average chocolate and confectionery export price stood at $X per ton in 2022, falling by -7.9% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average export price increased by 31% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Finland ($X per ton), while the average price for exports to Ukraine ($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 Finland (+6.5%), while the prices for the other major destinations experienced more modest paces of growth.

Chocolate And Confectionery Imports

Imports into Estonia

In 2022, purchases abroad of chocolate and confectionery increased by 122% to X tons, rising for the second consecutive year after two years of decline. In general, imports saw a modest increase. Over the period under review, imports attained the peak figure at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, chocolate and confectionery imports skyrocketed to $X in 2022. Overall, imports showed noticeable growth. Imports peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

Malaysia (X tons), Ghana (X tons) and Indonesia (X tons) were the main suppliers of chocolate and confectionery imports to Estonia, with a combined 45% share of total imports. Cote d'Ivoire, Poland, Finland, Latvia, the Netherlands, Sweden, Germany, China, Ecuador and Lithuania lagged somewhat behind, together comprising a further 42%.

From 2012 to 2022, the biggest increases were recorded for Ecuador (with a CAGR of +147.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X) constituted the largest supplier of chocolate and confectionery to Estonia, comprising 21% of total imports. The second position in the ranking was held by Indonesia ($X), with a 9.8% share of total imports. It was followed by Poland, with a 9.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Malaysia amounted to +4.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+4.3% per year) and Poland (+15.1% per year).

Import Prices by Country

In 2022, the average chocolate and confectionery import price amounted to $X per ton, which is down by -15.3% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of 24% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2021, and then reduced rapidly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Poland ($X per ton), while the price for Ecuador ($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 (+5.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform