Finland: Chocolate Market 2024

Chocolate Market Size in Finland

The Finnish chocolate market rose notably to $X in 2022, growing by 12% against the previous year. The market value increased at an average annual rate of +1.1% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Chocolate consumption peaked in 2022 and is expected to retain growth in the near future.

Chocolate Production in Finland

In value terms, chocolate production shrank modestly to $X in 2022 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the production volume increased by 8%. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Chocolate Exports

Exports from Finland

In 2022, overseas shipments of chocolate and cocoa products decreased by -25.6% to X tons for the first time since 2018, thus ending a three-year rising trend. In general, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 20% against the previous year. As a result, the exports attained the peak of X tons, and then contracted dramatically in the following year.

In value terms, chocolate exports fell to $X in 2022. Over the period under review, exports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when exports increased by 24% against the previous year. As a result, the exports reached the peak of $X, and then dropped in the following year.

Exports by Country

Sweden (X tons) was the main destination for chocolate exports from Finland, with a 43% share of total exports. Moreover, chocolate exports to Sweden exceeded the volume sent to the second major destination, Estonia (X tons), threefold. The third position in this ranking was taken by Denmark (X tons), with a 12% share.

From 2012 to 2022, the average annual growth rate of volume to Sweden stood at -2.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Estonia (-0.5% per year) and Denmark (+10.5% per year).

In value terms, Sweden ($X) remains the key foreign market for chocolate and cocoa products exports from Finland, comprising 49% of total exports. The second position in the ranking was taken by Estonia ($X), with a 12% share of total exports. It was followed by Denmark, with a 7.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Sweden stood at +1.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Estonia (-0.5% per year) and Denmark (+5.7% per year).

Export Prices by Country

In 2022, the average chocolate export price amounted to $X per ton, rising by 26% against the previous year. Over the last decade, it increased at an average annual rate of +1.1%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Indonesia ($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 Germany (+5.6%), while the prices for the other major destinations experienced more modest paces of growth.

Chocolate Imports

Imports into Finland

After three years of growth, overseas purchases of chocolate and cocoa products decreased by -13.5% to X tons in 2022. Overall, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 when imports increased by 15%. Imports peaked at X tons in 2021, and then fell in the following year.

In value terms, chocolate imports stood at $X in 2022. The total import value increased at an average annual rate of +1.5% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2017 with an increase of 22% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, Sweden (X tons) constituted the largest chocolate supplier to Finland, with a 44% share of total imports. Moreover, chocolate imports from Sweden exceeded the figures recorded by the second-largest supplier, Germany (X tons), threefold. Poland (X tons) ranked third in terms of total imports with a 9.1% share.

From 2012 to 2022, the average annual growth rate of volume from Sweden totaled +4.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-2.9% per year) and Poland (+5.4% per year).

In value terms, Sweden ($X) constituted the largest supplier of chocolate and cocoa products to Finland, comprising 42% of total imports. The second position in the ranking was taken by Germany ($X), with a 19% share of total imports. It was followed by the Netherlands, with a 5.6% share.

From 2012 to 2022, the average annual growth rate of value from Sweden stood at +4.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+2.1% per year) and the Netherlands (+2.0% per year).

Import Prices by Country

The average chocolate import price stood at $X per ton in 2022, with an increase of 16% against the previous year. Over the last decade, it increased at an average annual rate of +1.1%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Slovakia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+6.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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