Finland: Chocolate Market 2024

Chocolate Market Size in Finland

In 2022, the Finnish chocolate market decreased by -27.1% to $X for the first time since 2019, thus ending a two-year rising trend. In general, consumption recorded a slight descent. Chocolate consumption peaked at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Chocolate Production in Finland

In value terms, chocolate production reduced slightly to $X in 2022 estimated in export price. Overall, production posted a buoyant expansion. The pace of growth was the most pronounced in 2013 when the production volume increased by 444%. Chocolate production peaked at $X in 2021, and then declined in the following year.

Chocolate Exports

Exports from Finland

In 2022, the amount of chocolate and other food preparations containing cocoa exported from Finland surged to X tons, rising by 17% against 2021. In general, exports, however, recorded a slight decline. The growth pace was the most rapid in 2019 with an increase of 25%. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, chocolate exports surged to $X in 2022. Overall, exports, however, continue to indicate a slight reduction. The most prominent rate of growth was recorded in 2018 when exports increased by 25%. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Japan (X tons) was the main destination for chocolate exports from Finland, with a 42% share of total exports. Moreover, chocolate exports to Japan exceeded the volume sent to the second major destination, Indonesia (X tons), twofold. The third position in this ranking was held by Sweden (X tons), with a 15% share.

From 2012 to 2022, the average annual growth rate of volume to Japan totaled -5.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+17.8% per year) and Sweden (+3.1% per year).

In value terms, Japan ($X) remains the key foreign market for chocolate and other food preparations containing cocoa exports from Finland, comprising 41% of total exports. The second position in the ranking was held by Indonesia ($X), with a 17% share of total exports. It was followed by Sweden, with a 15% share.

From 2012 to 2022, the average annual growth rate of value to Japan totaled -6.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+17.8% per year) and Sweden (+3.3% per year).

Export Prices by Country

In 2022, the average chocolate export price amounted to $X per ton, therefore, remained relatively stable against the previous year. In general, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 19% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Lithuania ($X per ton), while the average price for exports to Poland ($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 Poland (+3.7%), while the prices for the other major destinations experienced more modest paces of growth.

Chocolate Imports

Imports into Finland

After two years of growth, supplies from abroad of chocolate and other food preparations containing cocoa decreased by -11.5% to X tons in 2022. Overall, imports showed a noticeable contraction. The most prominent rate of growth was recorded in 2021 when imports increased by 30%. Over the period under review, imports attained the maximum at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, chocolate imports declined slightly to $X in 2022. In general, imports saw a pronounced slump. The pace of growth appeared the most rapid in 2021 when imports increased by 30%. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Belgium (X tons), Sweden (X tons) and Germany (X tons) were the main suppliers of chocolate imports to Finland, with a combined 72% share of total imports. These countries were followed by Poland, Hungary, Denmark, Spain, Italy and the Netherlands, which together accounted for a further 24%.

From 2012 to 2022, the biggest increases were recorded for Spain (with a CAGR of +36.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X), Sweden ($X) and Germany ($X) constituted the largest chocolate suppliers to Finland, with a combined 72% share of total imports. These countries were followed by Poland, Italy, Denmark, Spain, Hungary and the Netherlands, which together accounted for a further 19%.

Poland, with a CAGR of +32.7%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average chocolate import price stood at $X per ton in 2022, growing by 12% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.5%. The most prominent rate of growth was recorded in 2019 an increase of 56% against the previous year. As a result, import price reached the peak level of $X per ton. From 2020 to 2022, the average import prices remained at a somewhat lower figure.

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 Germany ($X per ton), while the price for Hungary ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+5.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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