Greece: Chocolate And Confectionery Market 2024

Chocolate And Confectionery Market Size in Greece

The Greek chocolate and confectionery market dropped slightly to $X in 2022, which is down by -2.7% against the previous year. In general, consumption, however, recorded a slight reduction. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Chocolate And Confectionery Production in Greece

In value terms, chocolate and confectionery production dropped remarkably to $X in 2022 estimated in export price. Over the period under review, production recorded a deep slump. The pace of growth was the most pronounced in 2018 when the production volume increased by 12% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Chocolate And Confectionery Exports

Exports from Greece

In 2022, shipments abroad of chocolate and confectionery decreased by -13.8% to X tons, falling for the second year in a row after six years of growth. In general, total exports indicated a buoyant expansion from 2012 to 2022: its volume increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -18.8% against 2020 indices. The most prominent rate of growth was recorded in 2015 when exports increased by 35%. Over the period under review, the exports hit record highs at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, chocolate and confectionery exports contracted to $X in 2022. Overall, total exports indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +6.6% 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 +89.7% against 2012 indices. The growth pace was the most rapid in 2021 when exports increased by 17% against the previous year. As a result, the exports attained the peak of $X, and then dropped in the following year.

Exports by Country

Cyprus (X tons), Bulgaria (X tons) and Albania (X tons) were the main destinations of chocolate and confectionery exports from Greece, with a combined 33% share of total exports. The UK, Libya, Romania, Germany, Egypt, Israel, Poland, Belgium, France and South Africa lagged somewhat behind, together accounting for a further 47%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the UK (with a CAGR of +44.9%), while the other leaders experienced more modest paces of growth.

In value terms, Cyprus ($X), Germany ($X) and Albania ($X) were the largest markets for chocolate and confectionery exported from Greece worldwide, together comprising 36% of total exports.

Germany, with a CAGR of +35.7%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average chocolate and confectionery export price stood at $X per ton in 2022, rising by 9.3% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.4%. The pace of growth was the most pronounced in 2021 an increase of 24% against the previous year. Over the period under review, the average export prices reached the maximum in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to the UK ($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 (+8.7%), while the prices for the other major destinations experienced more modest paces of growth.

Chocolate And Confectionery Imports

Imports into Greece

In 2022, the amount of chocolate and confectionery imported into Greece was estimated at X tons, increasing by 1.6% on the year before. The total import volume increased at an average annual rate of +1.9% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The growth pace was the most rapid in 2021 when imports increased by 9.6% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, chocolate and confectionery imports dropped to $X in 2022. Over the period under review, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by 17%. Imports peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

Germany (X tons), the Netherlands (X tons) and Italy (X tons) were the main suppliers of chocolate and confectionery imports to Greece, with a combined 55% share of total imports. Belgium, Spain, Bulgaria, Serbia, France, Poland, Austria, Hungary, Romania and the UK lagged somewhat behind, together accounting for a further 40%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Serbia (with a CAGR of +55.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), the Netherlands ($X) and Italy ($X) constituted the largest chocolate and confectionery suppliers to Greece, together accounting for 55% of total imports. Belgium, Spain, Bulgaria, Poland, France, Serbia, Austria, Romania, Hungary and the UK lagged somewhat behind, together comprising a further 40%.

Among the main suppliers, Serbia, with a CAGR of +44.3%, 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 average chocolate and confectionery import price amounted to $X per ton, falling by -4.4% against the previous year. In general, the import price recorded a mild shrinkage. The pace of growth appeared the most rapid in 2021 when the average import price increased by 6.4% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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

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

Source: IndexBox Platform

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