EU: Chocolate Market 2024

Chocolate Market Size in the EU

In 2022, the EU chocolate market decreased by -6.5% to $X for the first time since 2019, thus ending a two-year rising trend. The market value increased at an average annual rate of +4.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the maximum level at $X in 2021, and then declined in the following year.

Chocolate Production in the EU

In value terms, chocolate production declined to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +5.2% 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 2014 with an increase of 36% against the previous year. Over the period under review, production reached the maximum level at $X in 2021, and then fell modestly in the following year.

Chocolate Exports

Exports in the EU

Chocolate exports declined modestly to X tons in 2022, stabilizing at the previous year. Total exports indicated a perceptible increase from 2012 to 2022: its volume increased at an average annual rate of +4.9% 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 +41.7% against 2013 indices. The growth pace was the most rapid in 2021 with an increase of 17%. As a result, the exports attained the peak of X tons, and then shrank in the following year.

In value terms, chocolate exports reduced slightly to $X in 2022. Total exports indicated buoyant growth 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, exports increased by +48.5% against 2015 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 25%. As a result, the exports attained the peak of $X, and then shrank in the following year.

Exports by Country

Belgium represented the key exporting country with an export of around X tons, which recorded 38% of total exports. It was distantly followed by Germany (X tons), Italy (X tons), France (X tons), the Netherlands (X tons), Poland (X tons) and Spain (X tons), together mixing up a 53% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to chocolate exports from Belgium stood at +3.0%. At the same time, Poland (+15.0%), Spain (+14.9%), Italy (+7.4%), Germany (+5.3%), the Netherlands (+4.1%) and France (+2.7%) displayed positive paces of growth. Moreover, Poland emerged as the fastest-growing exporter exported in the European Union, with a CAGR of +15.0% from 2012-2022. From 2012 to 2022, the share of Poland, Spain and Italy increased by +4.5, +2.8 and +2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Belgium ($X) remains the largest chocolate supplier in the European Union, comprising 41% of total exports. The second position in the ranking was held by Germany ($X), with a 14% share of total exports. It was followed by Italy, with a 9.8% share.

In Belgium, chocolate exports expanded at an average annual rate of +4.3% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Germany (+4.8% per year) and Italy (+7.6% per year).

Export Prices by Country

In 2022, the export price in the European Union amounted to $X per ton, shrinking by -3.1% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of 11% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the export prices remained at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in France ($X per ton) and Belgium ($X per ton), while Spain ($X per ton) and the Netherlands ($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 (+1.6%), while the other leaders experienced more modest paces of growth.

Chocolate Imports

Imports in the EU

For the fifth consecutive year, the European Union recorded growth in supplies from abroad of chocolate and other food preparations containing cocoa, which increased by 0.8% to X tons in 2022. The total import volume increased at an average annual rate of +4.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 with an increase of 14% against the previous year. The volume of import peaked in 2022 and is expected to retain growth in years to come.

In value terms, chocolate imports declined to $X in 2022. The total import value increased at an average annual rate of +4.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 with an increase of 16% against the previous year. The level of import peaked at $X in 2021, and then reduced modestly in the following year.

Imports by Country

France (X tons) and Germany (X tons) represented roughly 43% of total imports in 2022. Poland (X tons) held the next position in the ranking, followed by Belgium (X tons), the Netherlands (X tons), Italy (X tons) and Spain (X tons). All these countries together held near 38% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Spain (with a CAGR of +10.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, France ($X), Germany ($X) and Poland ($X) constituted the countries with the highest levels of imports in 2022, together accounting for 53% of total imports. Belgium, the Netherlands, Italy and Spain lagged somewhat behind, together accounting for a further 26%.

In terms of the main importing countries, Spain, with a CAGR of +9.8%, saw the highest growth rate of 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

In 2022, the import price in the European Union amounted to $X per ton, declining by -3.3% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the import price increased by 10% 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 Italy ($X per ton) and the Netherlands ($X per ton), while Spain ($X per ton) and Belgium ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+3.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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