Europe: Chocolate Market 2024

Chocolate Market Size in Europe

In 2022, the Europe chocolate market increased by 0.3% to $X, rising for the second year in a row after two years of decline. Over the period under review, consumption, however, saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a somewhat lower figure.

Chocolate Production in Europe

In value terms, chocolate production amounted to $X in 2022 estimated in export price. In general, production, however, showed a slight slump. The growth pace was the most rapid in 2014 with an increase of 6.1%. As a result, production attained the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Chocolate Exports

Exports in Europe

In 2022, overseas shipments of chocolate and cocoa products increased by 1.8% to X tons, rising for the seventh consecutive year after two years of decline. The total export volume increased at an average annual rate of +3.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 when exports increased by 8.1% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, chocolate exports shrank modestly to $X in 2022. The total export value increased at an average annual rate of +3.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when exports increased by 14% against the previous year. As a result, the exports reached the peak of $X, and then declined modestly in the following year.

Exports by Country

In 2022, Germany (X tons), distantly followed by Belgium (X tons), the Netherlands (X tons), Poland (X tons), Italy (X tons), France (X tons) and Russia (X tons) represented the main exporters of chocolate and cocoa products, together achieving 74% of total exports. The UK (X tons), Spain (X tons), Switzerland (X tons), Austria (X tons) and Sweden (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Russia (with a CAGR of +8.3%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) remains the largest chocolate supplier in Europe, comprising 23% of total exports. The second position in the ranking was held by Belgium ($X), with an 11% share of total exports. It was followed by Italy, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Germany stood at +3.5%. In the other countries, the average annual rates were as follows: Belgium (+1.2% per year) and Italy (+4.3% per year).

Export Prices by Country

The export price in Europe stood at $X per ton in 2022, which is down by -3.6% against the previous year. In general, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of 7% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

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 Switzerland ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (+1.2%), while the other leaders experienced more modest paces of growth.

Chocolate Imports

Imports in Europe

For the seventh year in a row, Europe recorded growth in overseas purchases of chocolate and cocoa products, which increased by 2.4% to X tons in 2022. The total import volume increased at an average annual rate of +3.4% 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 2013 when imports increased by 10%. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in years to come.

In value terms, chocolate imports shrank slightly to $X in 2022. The total import value increased at an average annual rate of +3.4% over the period 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 2013 with an increase of 11%. The level of import peaked at $X in 2021, and then dropped in the following year.

Imports by Country

The countries with the highest levels of chocolate imports in 2022 were France (X tons), the UK (X tons), Germany (X tons), the Netherlands (X tons), Poland (X tons), Belgium (X tons), Spain (X tons), Russia (X tons), Italy (X tons), the Czech Republic (X tons), Sweden (X tons) and Romania (X tons), together finishing at 78% of total import. Austria (X tons) took a relatively small share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Romania (with a CAGR of +8.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest chocolate importing markets in Europe were the UK ($X), Germany ($X) and France ($X), together accounting for 40% of total imports. The Netherlands, Poland, Belgium, Spain, Italy, Russia, Austria, Sweden, the Czech Republic and Romania lagged somewhat behind, together accounting for a further 39%.

Romania, with a CAGR of +10.6%, recorded the highest rates of growth with regard to 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

In 2022, the import price in Europe amounted to $X per ton, with a decrease of -4% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of 7.4%. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the import prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Romania (+1.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform