Ireland: Chocolate Market 2024

Chocolate Market Size in Ireland

The Irish chocolate market declined markedly to $X in 2022, shrinking by -31.5% against the previous year. In general, the total consumption indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +9.0% against 2020 indices. Over the period under review, the market reached the peak level at $X in 2021, and then dropped markedly in the following year.

Chocolate Production in Ireland

In value terms, chocolate production surged to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a tangible increase. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Chocolate Exports

Exports from Ireland

In 2022, the amount of chocolate and cocoa products exported from Ireland skyrocketed to X tons, picking up by 111% on 2021. Overall, total exports indicated a temperate expansion from 2012 to 2022: its volume increased at an average annual rate of +3.7% 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 -5.1% against 2020 indices. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, chocolate exports fell to $X in 2022. The total export value increased at an average annual rate of +2.4% from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 with an increase of 15% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then contracted in the following year.

Exports by Country

The UK (X tons) was the main destination for chocolate exports from Ireland, with a 72% share of total exports. Moreover, chocolate exports to the UK exceeded the volume sent to the second major destination, the United States (X tons), fivefold. The third position in this ranking was held by Canada (X tons), with a 3.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the UK stood at +4.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+2.1% per year) and Canada (-4.4% per year).

In value terms, the UK ($X) emerged as the key foreign market for chocolate and cocoa products exports from Ireland, comprising 74% of total exports. The second position in the ranking was taken by the United States ($X), with an 11% share of total exports. It was followed by the Netherlands, with a 3% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the UK totaled +2.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+2.3% per year) and the Netherlands (+41.1% per year).

Export Prices by Country

The average chocolate export price stood at $X per ton in 2022, falling by -55.2% against the previous year. Over the period under review, the export price saw a slight slump. The growth pace was the most rapid in 2021 an increase of 135% against the previous year. As a result, the export price attained the peak level of $X per ton, and then dropped significantly in the following year.

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 the United Arab Emirates ($X per ton), while the average price for exports to Egypt ($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 the United States (+0.2%), while the prices for the other major destinations experienced a decline.

Chocolate Imports

Imports into Ireland

In 2022, approx. X tons of chocolate and cocoa products were imported into Ireland; with an increase of 149% on 2021. Overall, imports continue to indicate a tangible expansion. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, chocolate imports shrank modestly to $X in 2022. The total import value increased at an average annual rate of +2.9% over the period 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 2013 with an increase of 18% against the previous year. Over the period under review, imports reached the maximum at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the UK (X tons) constituted the largest chocolate supplier to Ireland, with a 59% share of total imports. Moreover, chocolate imports from the UK exceeded the figures recorded by the second-largest supplier, Germany (X tons), sixfold. Belgium (X tons) ranked third in terms of total imports with an 8.3% share.

From 2012 to 2022, the average annual growth rate of volume from the UK stood at +2.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+2.5% per year) and Belgium (+13.1% per year).

In value terms, the UK ($X) constituted the largest supplier of chocolate and cocoa products to Ireland, comprising 60% of total imports. The second position in the ranking was taken by Germany ($X), with a 9.9% share of total imports. It was followed by Belgium, with a 7.3% share.

From 2012 to 2022, the average annual growth rate of value from the UK stood at +1.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+2.0% per year) and Belgium (+10.7% per year).

Import Prices by Country

In 2022, the average chocolate import price amounted to $X per ton, dropping by -60.6% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the average import price increased by 209%. As a result, import price reached the peak level of $X per ton, and then fell dramatically in the following year.

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 the Netherlands ($X per ton), while the price for France ($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 Netherlands (+7.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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